A third of all consumer brands will be utilising a smartphone application that allows mobile payment by the year 2015, says Gartner, in order to allow them to sell directly to customers and provide an improved customer experience.
In a statement released December 20, the information technology research and advisory firm suggested that organisations with operational retail outlets might have the most to gain from this new technology.
Gartner research director Sandy Shen says that some companies have already launched a branded application in order to improve marketing and offer customers a greater degree of information on products, as well as manage loyalty points and coupons and other special offers.
"Branded apps should be good shopping apps in the first place, and payment is only the final step before making the sale," said Ms Shen.
"To achieve this, [retailers] will use a combination of mobile apps, text messages and Web browsers to engage customers and increase sales."
It's worth noting that businesses looking at deploying mobile applications that allow online payment – no matter which industry they are operating in – will need to ensure they are providing an app that is safe and secure for customers to use.
The best way to do this is through comprehensive mobile application security testing, which can provide a thorough analysis of any potential risks which might make an app vulnerable to cyber criminals.