Making Money Online Forum

This post originally appeared on the American Express OPEN Forum, where Mashable regularly contributes articles about leveraging social media and technology in small business.

Mobile payments are the logical extension of online shopping; a way for customers to buy what you have while they’re on the go. But the technology has some added perks that make it a powerful purchasing tool for small businesses.

There are a lot of resources and articles out there telling businesses to pay attention to location-based networking or to maximize their social media presences, but there is a lack of information on the monetary benefits of these investments. Mobile payments, however, are a great way for businesses to make money.

It should be noted, there are two related fields of mobile payment: First, using your phone as a credit card in-store, and second, paying while on the go. We’ll be focusing largely on the latter.

Below is just a selection of reasons that small businesses should care about mobile payments. Add your voice to the comments below: Is this just another fad? Are mobile payments still years away? Why has North America been so slow to adopt?

It’s Going to be Everywhere/>

We already use our phones for everything: Calling, texting, surfing the web, video chats (thank you, Phone), and updating our social networks. class='blippr-nobr'>Societyclass="blippr-nobr">society, by and large, has grown accustomed to using phones for daily activities. Why shouldn’t instant purchasing be added to that list?

Total worldwide mobile payments stood at USD $68.7 billion in 2009, according to a study from Telecoms Market Research. That number is predicted to rise by more than 800% in the next four years. Simple, DIY credit card processing solutions, like the Complete Credit Card Solution and Square, have already hit the iPhone market, and more services are expected in the future for all platforms.

Social Impulse/>

Phones are inherently social, and advanced functions like geo-location are making it easier for users to connect with others in their networks to share consumption habits and recommendations. Location-based services, for example, enable users to recommend their favorite restaurants, shops and others venues. And group buying sites like Groupon have expanded the possibilities for quick, social purchases.

By adding a mobile payment option, small businesses can capitalize on these peer recommendations with a purchase. Rather than direct your customers to an online shop site or have them note it down for later, they can instantly buy your product.

Mobile payments take advantage of impulse purchases; essentially when you buy something based on spur-of-the-moment decision making. class='blippr-nobr'>Impulseclass="blippr-nobr">Impulse buys are usually associated with emotional reactions to a product. They are partly why ringtone sales have been so successful. Like a tone? You can often download it instantly with just a couple clicks, no secondary sites necessary. Make sure your customers are able to buy your product the instant they want it.

Micro-Transactions/>

The real heart of small business mobile payments is the micro-transaction. Paying less is generally better than paying more. People are also more willing to pay frequent small payments rather than throw down a lump sum. Using ringtones as an example, more people would pay $1 for several ringtones than shell out $5 in one go for five ringtones.

Small business can follow this trend by selling less-expensive goods online, as smaller goods could be a real hit for the mobile payment crowd. Customers can more easily rationalize those smaller purchases and drive more sales to your business.

Another perk for biz owners is that mobile transaction fees are usually less than credit card fees. Sales through mobile could save you a small amount on every purchase.

Customer Data/>

Mobile payments enable merchants to collect data in much the same way as your everyday credit card purchases. Adding mobile payments to your business can help keep track of customer phone numbers, buying histories, and any other necessary information. Having this extra source of data about customers and their purchasing habits will enable you to offer more targeted and relevant deals, discounts and products to specific purchasers.

Collecting data can be a bit tricky, since it gets into privacy rights and issues (e.g., Facebook privacy concerns), so make sure your business is aware of how you can and cannot use customer information.

Regardless of your purposes, whether it be data, profit, or social loyalty, mobile payments are definitely an area for small businesses to watch.

More Business Resources from Mashable:

- HOW TO: Choose the Best Workspace for Your Business/> - 5 Winning Social Media Campaigns to Learn From/> - 10 Emerging Social Platforms and How Businesses Can Use Them/> - 10 Free WordPress Themes for Small Businesses/> - 8 Funding Contests to Kick Start Your Big Idea

Image courtesy of iStockphotoclass="blippr-nobr">iStockphoto, photo_smart

For more Business coverage:

class="f-el">class="cov-twit">Follow Mashable Businessclass="s-el">class="cov-rss">Subscribe to the Business channelclass="f-el">class="cov-fb">Become a Fan on Facebookclass="s-el">class="cov-apple">Download our free apps for iPhone and iPad

Most of this is from a post I popped in Sunday night.

Somehow, I think this matters right now and will pop up from the whack-a-mole game board in the future to bite everyone…… Then again, it all may be nothing.

————

Interpol’s boss is a gent named Ronald K. Noble and right about now he’s got a bug on his back about cyber crime.

Part of that bug is buzzing because Mr. Noble had his ID compromised and phony FaceBook pages were set up in his name. Now, there’s a big meeting about ‘cyber crime’.

Don’t know Mr. Noble ?….. I actually think you do…….. Here’s something from Lloyd Bentsen (Sec. Treas. under Pres. Bill Clinton) on Mr. Noble’s past experience: Assistant Secretary for Enforcement Ronald K. Noble has conducted a comprehensive review of the adequacy of the Bureau of Alcohol, Tobacco and Firearms’ (”ATF’s”) procedures, policies, and practices, and whether they were followed during ATF’s investigation of Vernon Howell, a/k/a “David Koresh,” and his followers.

A background and other stuff on Mr. Noble is at Wiki……. take anything at Wiki as you may, but it all seems to be sourced proper-like……… Mr. Ronald K. Noble, Secretary General Of Interpol.

================

My two (and a half) cents: Looks like the recent exec order ‘change’ giving Interpol open access to America is starting to come into a bit more focus now.

Given the current governmental attitude for giving a ‘nudge’ to and sidestepping all things legal and Constitutional, my guess is (begin snark) none of the following is even remotely possible (end snark). However, inquiring minds want to know……..

Approximately when was Mr. Noble’s ID compromised and those Facebook pages run up ?

If the deeds were done after the exec order……. Hmmmmmmm.

If the deeds were before the exec order, life is beautiful - for about two minutes……….

That’s because, with all that’s going and the true Statist/Totalitarian power grab involving ‘net neutrality’, (to use the legal term) is it “beyond a reasonable doubt” this is not some sort of a setup ?………. Meaning that it’s within the realm of possibility that Mr. Noble’s ID was ‘put out there’ and the ‘unauthorized’ Facebook pages set in as just one more reason to force in ‘net neutrality’ and maybe more dire, for Interpol to actually begin operating here - not just being ok’d on paper to do so by exec order.

Think about it - really think - try and lose the ‘it can’t happen here’ idea……….. Let the extrapolations begin as to what truly is possible in the current socio-political scene through technology…… legally or otherwise.

To people like Cass Sunstein, Eric Holder, Harold Koh and our current president - plus orgs like ICR2P, The UN and others - there isn’t much more dangerous of an ‘international crime’ than published simple dissent that instantly goes world-wide.

Thanks for your time.

……. and Neil……. Thank you again for keeping Tech at Night going……. We’re entering some seriously dangerous territory for individual Rights and overall freedom….. with many more than just the average person completely unaware of it all.

PS…….. I’d give a nice donation to some Minnesota children’s charity to see Senator Franken perp-walked out of the Dirksen Building, or even better still……. from his home at 3am in a rain storm.

robert shumake

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robert shumake

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robert shumake

This post originally appeared on the American Express OPEN Forum, where Mashable regularly contributes articles about leveraging social media and technology in small business.

Mobile payments are the logical extension of online shopping; a way for customers to buy what you have while they’re on the go. But the technology has some added perks that make it a powerful purchasing tool for small businesses.

There are a lot of resources and articles out there telling businesses to pay attention to location-based networking or to maximize their social media presences, but there is a lack of information on the monetary benefits of these investments. Mobile payments, however, are a great way for businesses to make money.

It should be noted, there are two related fields of mobile payment: First, using your phone as a credit card in-store, and second, paying while on the go. We’ll be focusing largely on the latter.

Below is just a selection of reasons that small businesses should care about mobile payments. Add your voice to the comments below: Is this just another fad? Are mobile payments still years away? Why has North America been so slow to adopt?

It’s Going to be Everywhere/>

We already use our phones for everything: Calling, texting, surfing the web, video chats (thank you, Phone), and updating our social networks. class='blippr-nobr'>Societyclass="blippr-nobr">society, by and large, has grown accustomed to using phones for daily activities. Why shouldn’t instant purchasing be added to that list?

Total worldwide mobile payments stood at USD $68.7 billion in 2009, according to a study from Telecoms Market Research. That number is predicted to rise by more than 800% in the next four years. Simple, DIY credit card processing solutions, like the Complete Credit Card Solution and Square, have already hit the iPhone market, and more services are expected in the future for all platforms.

Social Impulse/>

Phones are inherently social, and advanced functions like geo-location are making it easier for users to connect with others in their networks to share consumption habits and recommendations. Location-based services, for example, enable users to recommend their favorite restaurants, shops and others venues. And group buying sites like Groupon have expanded the possibilities for quick, social purchases.

By adding a mobile payment option, small businesses can capitalize on these peer recommendations with a purchase. Rather than direct your customers to an online shop site or have them note it down for later, they can instantly buy your product.

Mobile payments take advantage of impulse purchases; essentially when you buy something based on spur-of-the-moment decision making. class='blippr-nobr'>Impulseclass="blippr-nobr">Impulse buys are usually associated with emotional reactions to a product. They are partly why ringtone sales have been so successful. Like a tone? You can often download it instantly with just a couple clicks, no secondary sites necessary. Make sure your customers are able to buy your product the instant they want it.

Micro-Transactions/>

The real heart of small business mobile payments is the micro-transaction. Paying less is generally better than paying more. People are also more willing to pay frequent small payments rather than throw down a lump sum. Using ringtones as an example, more people would pay $1 for several ringtones than shell out $5 in one go for five ringtones.

Small business can follow this trend by selling less-expensive goods online, as smaller goods could be a real hit for the mobile payment crowd. Customers can more easily rationalize those smaller purchases and drive more sales to your business.

Another perk for biz owners is that mobile transaction fees are usually less than credit card fees. Sales through mobile could save you a small amount on every purchase.

Customer Data/>

Mobile payments enable merchants to collect data in much the same way as your everyday credit card purchases. Adding mobile payments to your business can help keep track of customer phone numbers, buying histories, and any other necessary information. Having this extra source of data about customers and their purchasing habits will enable you to offer more targeted and relevant deals, discounts and products to specific purchasers.

Collecting data can be a bit tricky, since it gets into privacy rights and issues (e.g., Facebook privacy concerns), so make sure your business is aware of how you can and cannot use customer information.

Regardless of your purposes, whether it be data, profit, or social loyalty, mobile payments are definitely an area for small businesses to watch.

More Business Resources from Mashable:

- HOW TO: Choose the Best Workspace for Your Business/> - 5 Winning Social Media Campaigns to Learn From/> - 10 Emerging Social Platforms and How Businesses Can Use Them/> - 10 Free WordPress Themes for Small Businesses/> - 8 Funding Contests to Kick Start Your Big Idea

Image courtesy of iStockphotoclass="blippr-nobr">iStockphoto, photo_smart

For more Business coverage:

class="f-el">class="cov-twit">Follow Mashable Businessclass="s-el">class="cov-rss">Subscribe to the Business channelclass="f-el">class="cov-fb">Become a Fan on Facebookclass="s-el">class="cov-apple">Download our free apps for iPhone and iPad

Most of this is from a post I popped in Sunday night.

Somehow, I think this matters right now and will pop up from the whack-a-mole game board in the future to bite everyone…… Then again, it all may be nothing.

————

Interpol’s boss is a gent named Ronald K. Noble and right about now he’s got a bug on his back about cyber crime.

Part of that bug is buzzing because Mr. Noble had his ID compromised and phony FaceBook pages were set up in his name. Now, there’s a big meeting about ‘cyber crime’.

Don’t know Mr. Noble ?….. I actually think you do…….. Here’s something from Lloyd Bentsen (Sec. Treas. under Pres. Bill Clinton) on Mr. Noble’s past experience: Assistant Secretary for Enforcement Ronald K. Noble has conducted a comprehensive review of the adequacy of the Bureau of Alcohol, Tobacco and Firearms’ (”ATF’s”) procedures, policies, and practices, and whether they were followed during ATF’s investigation of Vernon Howell, a/k/a “David Koresh,” and his followers.

A background and other stuff on Mr. Noble is at Wiki……. take anything at Wiki as you may, but it all seems to be sourced proper-like……… Mr. Ronald K. Noble, Secretary General Of Interpol.

================

My two (and a half) cents: Looks like the recent exec order ‘change’ giving Interpol open access to America is starting to come into a bit more focus now.

Given the current governmental attitude for giving a ‘nudge’ to and sidestepping all things legal and Constitutional, my guess is (begin snark) none of the following is even remotely possible (end snark). However, inquiring minds want to know……..

Approximately when was Mr. Noble’s ID compromised and those Facebook pages run up ?

If the deeds were done after the exec order……. Hmmmmmmm.

If the deeds were before the exec order, life is beautiful - for about two minutes……….

That’s because, with all that’s going and the true Statist/Totalitarian power grab involving ‘net neutrality’, (to use the legal term) is it “beyond a reasonable doubt” this is not some sort of a setup ?………. Meaning that it’s within the realm of possibility that Mr. Noble’s ID was ‘put out there’ and the ‘unauthorized’ Facebook pages set in as just one more reason to force in ‘net neutrality’ and maybe more dire, for Interpol to actually begin operating here - not just being ok’d on paper to do so by exec order.

Think about it - really think - try and lose the ‘it can’t happen here’ idea……….. Let the extrapolations begin as to what truly is possible in the current socio-political scene through technology…… legally or otherwise.

To people like Cass Sunstein, Eric Holder, Harold Koh and our current president - plus orgs like ICR2P, The UN and others - there isn’t much more dangerous of an ‘international crime’ than published simple dissent that instantly goes world-wide.

Thanks for your time.

……. and Neil……. Thank you again for keeping Tech at Night going……. We’re entering some seriously dangerous territory for individual Rights and overall freedom….. with many more than just the average person completely unaware of it all.

PS…….. I’d give a nice donation to some Minnesota children’s charity to see Senator Franken perp-walked out of the Dirksen Building, or even better still……. from his home at 3am in a rain storm.

robert shumake

Photo of the Week: iPad in Colorado | iLounge <b>News</b>

iLounge news discussing the Photo of the Week: iPad in Colorado. Find more Site News news from leading independent iPod, iPhone, and iPad site.

The Hockey <b>News</b>: Special Features: VIDEO: THN Puck Panel - Was <b>...</b>

Mike Cammalleri was suspended one regular season game for a slash on Nino Niederreiter, but was the rookie's initial hit a mitigating factor? The THN Puck Panel, with Jason Kay and Ryan Kennedy, discusses the incident.

ABC <b>News</b> and Facebook team up for election coverage - Lost Remote

ABC News is also partnering with Yahoo! News to do election polling, with results posted on both sites. In addition, the network will be doing daily 15-minute webcasts beginning October 25th at 6:45 am, the idea being that the webcast ...