Innovative New Global Payment Solution Launch
Consumers today demand to be in control. We want to shop everywhere, at any time, and buy on impulse across a variety of retail channels. We want our needs to be anticipated, our issues resolved, and our shopping experiences personalized – all of this at speed of light and across all platforms. We are fast becoming digital consumers of a world that is transforming at a very rapid rate into a digital global economy. Every day purchases like buying a coffee at Starbucks or buying a book at Barnes & Noble have become as easy and fastas the swipe of a barcode on your smartphone.
Mobile commerce, including both mobile browsers and in-app payments, is driving strong digital commerce growth due to exponential smartphone adoption and an intense shift towards online shopping. According to McKinsey & Company’s 2018 Global Banking summary, “This rapid growth makes payments an expanding and increasingly important component of the broader banking industry. After an extended period in which payments generated roughly 30 percent of overall banking revenues, this metric has turned sharply upward.” The summary also states, “Mobile commerce accounts for 48 percent of digital commerce sales globally as of 2017 and is forecasted to reach 70 percent by 2022 (tripling to $4.6 trillion).
At 450 electronic transactions annually per capita, North America has become the first continent or region globally to execute more than half of its purchasing transactions electronically. This is dramatically higher than anywhere else in the world. The global trend makes sense, given healthy underlying fundamentals, including electronic transaction and digital commerce growth and the increasing adoption of alternative payment solutions to fiat currency like the dollar.
Since the early 2,000’s, our consumer behavior has drastically changed. Today, consumers want all services and products to be efficiently expedited making essential the implementation of new payment solutions that meet the new market demands. As a direct consequence, mobile payment solutions like PayPal, Venmo, RobinHood, or Zelle were introduced. However, today they still present limitations regarding the services they offer. The lack of the right incentives forces consumers to reject the mobile payments platform as an option. These digital wallets also face other adoption barriers such as real time payments and the introduction of blockchain technology and its subsequent deployment of cryptocurrencies. In addition, an intrinsic educational problem is tied to the cryptocurrencies as the general population does not understand the tedious process of buying or selling them.
Other new marketing implementations that expedite the purchasing process are virtual gift cards, which are very popular for birthdays or any celebrations. According to Tower Group, “Virtual gift cards are a burgeoning market within loyalty programs and beyond…” and “the virtual boom is predicted to continue.” Virtual gift cards in the U.S. were forecasted to reach $11 billion in 2018 and $15 billion in 2019.
Here at home, the DNERO group, based in Irvine, has developed a payment solution offered as a mobile app that solves all the above-mentioned issues. DNERO is a mobile payment and digital wallet app that allows users to make payments online or at in-person point-of-sale (POS) systems in retail stores using their mobile phones. Hundreds of national brands, including Best Buy, Barnes & Noble, Target, and Morton’s, have agreed to accept DNERO as a mobile payment solution.
DNERO goes several steps further than other payment systems by offering the following options:
- Load funds from any bank account or credit card
- Immediately convert over 50 cryptocurrencies (like Bitcoin, Ethereum, Litecoin or PRO Currency) traded on major exchanges into FIAT currency to use on everyday purchases
- Send gift funds to family and friends who have the freedom to choose their own brand at thousands of locations when redeeming
- Receive 2% cash back instantly from your day-to-day purchases
There is no existing smart phone mobile app in the marketplace offering all these services together. With DNERO, cash and cryptocurrencies work side-by-side for both everyday purchases or just sending money to family and friends. It takes only seconds to upload funds to use for purchases or to send as a gift. It is an All-in-One app!
For merchants, DNEROoffers a very creative and innovative system to engage new customers and retain their existing customer base. Not only does a merchant who accepts DNERO save money in transaction fees (a flat 2%), but funds are received instantly at the end of each day’s batch. There is no more waiting for days in order to receive your funds from the bank for purchases made in your business. As a bonus, DNERO offers Geo-Location services, push notifications, promotion services, and a referral bonus from all DNERO users referred by the merchant.
DNERO is a mobile payment and digital wallet app that allows users to make payments online or at in-person point-of-sale (POS) systems in retail stores using their mobile phones.
Both consumers and merchants are increasingly embracing in-app payments and app-based commerce. Retailers and merchants are ramping up their acceptance of mobile apps to provide innovative shopping experiences for customers. In the United States, use of digital wallets will increase at a 45 percent compounded annual growth rate to nearly $400 billion by 2022. DNERO will be leading the charge with its innovative and first-to-market all-encompassing solutions. With DNERO, your smartphone becomes smart money.
For more information, call 949.284.7127, email info@dneromedia.com or visit DNEROmedia.com.