The latest craze: Ewallets

An electronic wallet takes advantage of a mobile payment gateway that allows shoppers to swipe a mobile device across a reader to directly access a bank account for an accelerated check-out process. The process takes advantage of Near Field Communications technology to help shoppers make faster, more secure purchases directly from their mobile devices.

Retail Week reported ewallets are able to hold not only bank account information, but also credit cards, store cards and travel cards, all accessible with a PIN. The contactless payment terminals in stores can be used to complete the transaction, or the Near Field Communications can be leveraged for at-home online purchases or mobile payments on the go. Retailers should streamline their customer check-out processes using ewallet technology to increase consumer satisfaction and simplify payment options.

Ewallets are not the only services boosting the use of mobile devices for consumer activities, and retailers should keep usage volumes in mind, considering the popularity of mobile technology.

Ebay recently warned that the upcoming Summer Olympics in London will put a major strain on mobile networks as visitors try to access information and communications during the games. As a result, retailers are encouraged to plan their mobile campaigns accordingly, understanding more consumers will be on their mobile devices while frequenting the events, Marketing Magazine reported.