Leading market players have opted the partnership as the key strategy to raise their stake in the global industry and build an international presence.
Mobile payment has become a viable option as the world rides on the wave of digital transformation. Many tech giants have entered the industry with their tailor-made and best-in-class solutions. Market players have opted the partnership as the key strategy to raise their stake in the global industry.
Glance Technologies Inc. has partnered with the British Columbia Restaurant & Food Services Association to serve nearly 3,000 members of the association. CellPoint has joined hands with the Caribbean regional carrier Sunrise Airways. Moreover, Alibaba has entered a strategic partnership with the global travel restaurateur HMSHost. These activities have resulted in the boom of the industry. According to the research firm Allied Market Research, the global mobile payment industry would reach $4,574 billion by 2023. Following are some of the activities that shape the industry:
One solution for restaurateurs’ group:
Mobile payment has penetrated in various sectors with the digital transformation taking place across the world. Glance Pay has become a preferred mobile payment solution for the British Columbia Restaurant & Food Services Association. This group of restaurateurs has more than 3,000 members. BCRFA President Ian Tostenson outlined that they have evaluated various mobile payment options and selected the Glance Pay after careful consideration. The app is integrated with various 15 POS systems that represent nearly 500,000 installations across the North American region. Mobile payment option and built-in digital rewards have been offered along with efficiency-enhancing features. Partnership with such associations provides a huge opportunity for growth in the industry.
This endorsement aligns well with Glance’s aggressive growth plans and our readiness to showcase our cutting-edge solutions to this highly competitive industry that needs Glance’s solution to solve its operational pain points and boost bottom-line revenue,” said Glance Technologies CEO Desmond Griffin in the press release.
Caribbean regional carrier to deploy new solution:
Another mobile payment solution provider CellPoint Mobile entered the partnership agreement with Sunrise Airways. CellPoint will offer mobile-based and web-based payment solutions for the Caribbean regional carrier. There will be an integration of CellPoint Mobile and Velocity payment platform with the current passenger service system. This integration would be helpful in managing digital payment transactions and deploying new payment methods. There will be streamlining of the processes across online and mobile digital channels. This will improve conversions and offer more profitability per digital customer.
Alibaba in strategic partnership:
The Chinese giant Alibaba’s mobile payment solution division Alipay partnered with the global travel restaurateur HMSHost. This partnership will enable the restaurateur to offer mobile payment options at the North American airports. Chinese travelers are able to opt for mobile payment option at HMSHost-operated restaurants at various airports in the U.S. and Canada. As these destinations are very popular among Chinese travelers, this payment option would offer them ease and convenience. Alipay North America General Manager Yulei Wang outlined that this strategic partnership would grow the presence of Alipay in the North American region and offer Chinese visitors a familiar experience.
Knowledge is power, if you need more knowledge about this market, request sample of the “Global Mobile Payment Market by Mode of Transaction, Type of Mobile Payment and Application” report
Pratik Kirve holds a bachelor degree in Electronics and Telecommunication Engineering and currently working as a Content Writer at Allied Analytics LLP. He has avid interest in writing articles across different verticals. When he is not following updates and trends, he spends his time reading, writing poetry, and playing football.
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