Mobile Online PaymentApplications, or apps, are everywhere. They’re on planes, trains, ferries, and buses. They’re in homes, offices and places where people congregate. If you doubt the pervasiveness of apps, just consider the phrase, ‘There’s an app for that’. And you’ll recognise just how much apps have invaded people’s lives.

Mobile Apps and a New Way to Pay

In fact, apps are posing a challenge to traditional business, ‘disrupting’ processes, and endangering profits for companies that fail to adapt. One industry at potential risk is banking and finance. The Macquarie Group predicts the four big banks in Australia could lose $27 billion per year because of mobile app payment systems.

To avoid the potential loss of billions, most banks are offering mobile solutions to simplify payments and integrate services. Commonwealth Bank, for example, is enabling customers to withdraw from the ATM using their smartphones. This sort of convenience strengthens loyalty and brand image.

The Allure of Apps

Deloitte’s recent data reveal that 79% of Australians own a mobile phone, with six in 10 owning multiple devices. Many have made online purchases through their mobile phones. Of course, mobile apps are not just for shopping and paying. Businesses, such as Uber, Clipp and Beat Q have developed apps for music streaming, real-time promotions, and loyalty points.

Mobile apps, Viper Online Marketing further explain, can enhance online marketing efforts through synergy. Application development that combines the business’s social media and website can improve the organisation’s online presence. And with it, its bottom line.

An app adds value to your business in three ways:

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1. It gives you a competitive edge because you’re offering a unique experience for customers.

2. It helps your business operate better, making processes more efficient.

3. It secures your organisation’s future in an ever-changing market.

So, does your business have an app that meets your customers’ needs?