According to the 'Mobile
Payments 2012' report, both the owners of the infrastructure and the
third-party developers have developed various types of Apps and these Apps are
increasingly being used for mobile payments in daily life. Nowadays some social
platforms such as Twitter have developed great payment services, including
Twitpay or Twippr. Moreover, most of the banks are benefiting from the mobile
payments by developing apps for mobile banking and some also allow mobile
payments through the same app, raising the efficiency of transaction processing
effectively.
In the previous posts, I
have introduced the benefits pie for the mobile phone carriers, credit card
companies and E-commerce players regarding the mobile payments. Meanwhile, Groupon
App has created tremendous value for coupon and daily deal providers as well! Software-makers
already got the ball rolling with apps that scanning loyalty cards and other
barcodes just like the Groupon app in exchange for goods. As people grow
accustomed to using a phone instead of a card for buying goods and services,
deal-makers and advertisers will be able to expand.
GROUPON
MODE
Most of us might be familiar
with the motto that Groupon claims itself as 'Unbeatable deals daily on the
best stuff to do in cities across the world!'. Groupon features deals on the
best stuff to do, see, eat, and buy in more than 500 cities and eleven fiefdoms
around the world. The discounts typically range from 50% to 90% and that's why
Groupon called its deals unbeatable. Every deal is handpicked in order to make
sure that customers can confidently embrace salsa lessons, hot air balloon
rides, and hand-tossed pizzas. Moreover, daily deals are signed, sealed and
delivered to your Android phones each morning, while thousands of deals on
demand can be found in real-time, ready for immediate use with Groupon Now!.
Late last year, Groupon has
developed an application aimed at smart phones and tablet users application
consisting of the two buttons: "I'm Hungry" and "I'm Bored,”
which locate the closest and best deals for food or entertainment,
respectively, through tracking an individual via GPS. Andreas from Groupon
perceived it as 'It’s great for grabbing a quick lunch with a friend on the
cheap.' Here are some important things that people can do with Groupon App:
- Browse daily deals, Groupon Now! deals, view and purchase deals from the city they are in.
- Sign in to their existing Groupon account to find and organize the library of previous purchases and also sign up for a new Groupon account directly through the app.
- Map and sort local Groupons in real-time: activate the GPS feature to plot Groupon purchases closest to their current location in addition to sorting Groupons by expiration and purchase date.
Positive
Externality EXISTING!
The current business model
of Groupon is based on a combination of 'economies of networking' and 'economies
of scale'. Typically, economies of networking are the benefits associated with
a larger and larger number of consumers buying a certain product, similar as
the 'Positive Externality' mentioned in the Digital Marketplace class. The
larger the number of people using the product, the more potential valuable is
generating and creating by the product to each user within the network since
they all apply to software usage.
Apps have truly altered the
landscape for mobile payments in a positive way. With the added functionalities
and enhanced user experience mobile apps are a serious driver for mobile
payments.
Reference:
1. Mobile Payments 2012.
Retrieved from: http://www.innopay.com/content/mobile-payments-2012
2. Introducing Groupon Now!
Retrieved from: http://www.groupon.com/now/about
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