The “SoLoMo” (Social, Local, and Mobile) movement has great impact on consumer behavior and business operations. Now than ever before, more consumers are using mobile payments. According to a recent report @USAToday , the number of mobile payment users is expected to surge from 160.5 million in 2011 to 212.2 million in 2012, a 32% increase; likewise, the amount of mobile payment transactions will grow from $105.9 billion in 2011 to $171.5 billion in 2012, up 62%. Earlier this month, Starbucks announced that consumers would be able to purchase coffee with Square’s Wallet App starting in November 2012. Eventually, consumers will be able to place an order and settle the payment even before they enter a Starbucks’ store. When promoting mobile payment options or doing mobile marketing, however, businesses have to jump through one hoop --- they must convince their customers that such mobile app is safe and reliable and that their business is trustworthy. Recently,...
Hospitality/Tourism Management | Service Marketing | Information Technology