The Future of RetailJune 2013 | Retail Transactions & Payments

Retail Transactions & Payments | June 2013 2

Executive Summary

Consumers love saving money almost as much as they hate waiting in line, which is why they are looking to U.S. and Canadian retailers to provide new ways to make the in-store payment process more convenient. This is spurring retailers to improve their checkout environment and putting pressure on traditional credit card providers to experiment with new technologies. At the same time, social media influencer ranking service Klout.com is helping to create new forms of barter, while loyalty exchange services like Points.com are forcing companies to rethink their approach to loyalty.

To help retailers navigate these changes, Nurun has prepared a report that identifies and describes six key retail transactions and payments trends:

Trend 1: Retailers experiment with Uber-convenient transactionsThe retail flexibility and consumer-friendly nature of Uber and Square is helping to improve in-store payment options.

Trend 2: Credit cards seek new partnerships to remain relevantEmerging payment systems are forcing traditional providers to seek out new industry collaborations.

Trend 3: Making sure loyalty programs reward loyal customersCompanies are rethinking loyalty due to services such as Points.com that make points interchangeable.

Trend 4: Digital currency creates a more open approach to paymentThe development of new currencies could improve the technical infrastructure behind digital wallets.

Our research also uncovered a handful of smaller trends in retail transactions and payments that do not yet warrant a full description. However, we believe that both of the following mini trends merit inclusion in this report given their rapid uptake and popularity.

Mini Trend 1: Bartering social capital for actual capitalKlout and improved social media measurement tools are facilitating new forms of barter.

Mini Trend 2: Bought by many, enjoyed by oneSites such as SocialGift make it possible to share the cost of an expensive gift across many people, while still providing acknowledgement to individual gift givers.

Along with a thought-provoking look at each of these six trends, this report contains a series of forward-thinking questions that will help retailers consider how to evolve their transactions and payments approach.

A complete strategic foresight report that incorporates these six retail transactions and payments trends, along with key retail trends relating to marketing and merchandising, business models, analytics and emerging technology platforms, will be released later this year. (Our first trend report on Marketing and Merchandising is available here. Our second trend report on Business Models is available here).

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Manage the ambiguous future with strategic foresight

Daily blog posts. Monthly magazines. Quarterly trend reports. Must-read books. Anyone who works at the intersection of technology and people is swimming in information. This data smog can make deciphering the implications of the latest tech and social developments difficult. One solution is strategic foresight, which can help you make sense of emerging trends and clearly evaluate your options for the future. It’s a tool to manage risk when facing ambiguity in the marketplace.

Strategic foresight doesn’t predict the future, but it does help prepare you for it by envisioning a number of different, yet possible, future states in the market landscape 10+ years from now. These future states are often described as a set of scenarios, and they emerge from an analysis of current trends. So, as a simple example, the increasing popularity of pop-up retail spaces, combined with the high adoption of mobile devices, could develop into a future filled with transient storefronts. This scenario would be made possible due to the minimal wired infrastructure required for information and payment.

The rapid uptake of technology means that our social lives, cultural experiences, policies, regulations, ecological landscape, and business models are increasingly intertwined. Through its very design, strategic foresight is built to accommodate complexity by considering trends from a multi-dimensional perspective.

Steps of strategic foresight

Trend scan

Identify trend drivers

Evaluate critical uncertainties

Future scenarios

Strategic implications

Action plan

Monitor trends

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Why Retail Foresight?

The Nurun Strategic Foresight team has launched a strategic foresight initiative to articulate the future of business-to-consumer (“B2C”) retail and commerce, and explore implications for Canadian and U.S. retailers. The scenarios we generate will give our retail clients the toolkit necessary to start imagining (and preparing for) the possible futures in the marketplace.

The first of seven steps in the strategic foresight process involves trend scanning. The trends we capture will be published as a series of trend reports that focus on five domains of importance to both online and omni-channel retailers.

This is the third of five trend reports, and it looks at retail through the lens of transactions & payments. Next will be a report on analytics, followed by emerging technology platforms. The culmination of trend scanning and subsequent phases will inform future scenarios in our final stratgic foresight report. For more information, you can follow the project on Nurun’s blog, Digital for Real Life or subscribe to our email list, futureofretail@nurun.com.

Steps of strategic foresight

Trend scan

Identify trend drivers

Evaluate critical uncertainties

Future scenarios

Strategic implications

Action plan

Monitor trends

Marketing and Merchandising

Business Models

Transactions & Payments

Analytics

Emerging Technology Platforms

Preparing for the Future of Retail: A Strategic Foresight Report

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Trend

Retailers experiment with Uber-convenient transactions

The retail experience continues to evolve thanks to digital in-store innovations. But when it comes to paying for purchases, most retailers have struggled to innovate beyond self-serve kiosks. The result is a payment “traffic jam” that can significantly degrade the retail experience for consumers.

In response, forward-thinking retailers such as Starbucks and Apple are drawing inspiration from the seamless payment services offered by companies such as Square and Uber, as they try and improve the retail payment experience. (Square uses a mobile credit card reader that allows retailers to process payments from almost anywhere. Uber, meanwhile, is a taxi app that combines smartphone technology with credit card payment to deliver invisible transactions.) Much of the current focus centers on digital payment options for smartphones that will increase consumer convenience and improve retail efficiency.

Barcodes for baristasThe widespread adoption of smartphones is driving innovative approaches to retail payment such as the Starbucks app, which is linked to a customer’s coffee card account. Customers can pay using this app, which displays a unique barcode onscreen that is scanned by a Starbucks clerk with a UPC reader. Other retailers and payment companies are starting to use onscreen barcodes as an intermediate step on the road toward fully integrated digital wallets.

Tap to payVarious digital payment providers are competing to establish partnerships and find widespread industry acceptance. Until that happens, credit cards that feature PayWave or PayPass options, along with Interac Flash (Acxsys Corporation, 2012), are helping consumers feel more comfortable with Near Field Communication (NFC) technology. Embedded inside a credit or debit card, NFC provides greater convenience for both retailer and consumer, as it eliminates the need to swipe, sign or enter a PIN to authorize small payments. The recent launch of MasterPass from MasterCard (2013) will link digital wallets, traditional credit cards and simplify the online checkout process. Since it securely stores user payment and account information, including addresses, MasterPass will allow consumers to skip past time-consuming form fields during the online c heckout process. This type of online payment approach could also help lower cart abandonment rates.

Apple iOS PassbookDigital wallets are one of the most promising methods of improving the checkout experience. However, adoption rates for digital wallets are currently low. According to a February 4, 2013, comScore press release, “Digital wallets represent an innovative technology that has not yet reached critical mass among consumers due to a variety of factors, including low awareness and a muddied understanding of their benefits.” At the same time, this technology has gained a higher profile thanks to Apple’s Passbook, which was introduced as part of iOS 6 last year. Designed to store boarding passes, tickets for sporting events and gift cards, Passbook offers the opportunity for retailers to provide a more fluid and location-aware customer experience.

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Improving self-checkoutsIn the summer of 2012, Walmart began experimenting with a “Scan & Go” iPhone app that allows shoppers to scan items as they shop (Siwicki, 2013 & Wohl, 2012). When shopping is complete, the app generates a unique QR code that can be read by the self-checkout kiosk, allowing the customer to commence payment. This system also allows customers to place their items in bags before they reach the checkout area, providing an even faster checkout experience. In March of this year, Walmart announced that it will be expanding the Scan & Go trial to over 200 stores in more than 12 different U.S. cities, including Dallas, Seattle, San Jose, CA, and Portland, OR (Wohl, 2013).

Given slow adoption rates, retailers will need to ease consumers into digital payments and wallets through a series of intermediate steps. This might mean pairing old and new payment technologies to minimize the consumer learning curve. But a wider variety of payment options will only benefit retailers if accompanied by consumer rewards such as “fast and flawless” checkout experiences (Tode, 2013) or the ability to skip long lines through pre-payment. In some cases, this might necessitate redesigning checkout areas to accommodate multiple types of transactional situations to eliminate consumer confusion.

The Samsung Galaxy S4 smartphone is now compatible with standard red-laser barcode scanners thanks to a technology called Mobeam (2013). How can you integrate barcode coupons and related promotions into your mobile retail strategy?

How should you change your online checkout process to best accommodate diverse payment options such as gift cards, credit cards, PayPal, Stripe and MasterPass?

FORWARD THINKING

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Trend

Credit cards seek new partnerships to remain relevant

Despite the introduction of technologies such as PayWave and PayPass, legacy players like VISA and MasterCard are now being threatened by small, low-cost payment solutions like Square. Emerging technology options represent a challenge to traditional credit card providers and have spurred new strategic partnerships and innovations.

A bank, a phone maker and a Telco walk into a retailerIn Canada, CIBC, BlackBerry and Rogers recently partnered on a pilot launch of an NFC-enabled secure SIM card (Fitton, 2012). This combination of technology allows customers to use their BlackBerry 9900 to pay for purchases using a PayWave or PayPass terminal. The exchange is accomplished through a “Suretap” NFC SIM card provided by Rogers, which is linked to a CIBC credit card. BlackBerry has also announced a partnership with VISA for a related payment solution called Secure Element Manager NFC (Marketwire, 2013).

Credit cards get socialInvigorating the traditional credit card can also involve more straightforward technology partnerships. American Express now offers a card that users can sync with their Twitter, Facebook and Foursquare accounts (Carr, 2012). By partnering with various social media platforms, cardholders can earn savings from brands such as Best Buy, Whole Foods and Zappos. And as of February 2013, consumers can also purchase items from within their Twitter account through the use of special hashtags (Duryee, 2013).

PayPal moves offlineAs multi-channel retailers continue to blend e-commerce with in-store retail, they are now looking to integrate payment methods. PayPal has partnered with NCR, a Point-of-System provider, to deliver retail payment solutions that don’t require a significant investment in new technology (Perez, 2013). Customers use a PIN code or a swipeable PayPal credit card to deduct money from their account using existing payment terminals. Participating retailers include RadioShack, American Eagle Outfitters, The Home Depot and Toys “R” Us. And Jamba Juice is now using PayPal to allow customers to pre-order and pay for their food or drinks via mobile so they can bypass the line (Rao, 2013).

Retailer created payment solutionsIt’s important to realize that payment systems are not simply foisted upon retailers. Last summer, a consortium of merchants, including Sears, Best Buy, Target and Walmart formed the Merchant Customer Exchange (MCX) to offer “consumers a customer-focused, versatile and seamlessly integrated mobile-commerce platform” (2012).

Consumer comfort with credit cards offers legacy payment providers a competitive advantage. As Chantal Tode, Associate Editor of Mobile Commerce Daily, notes in a March 11, 2013, article, the current challenge for retailers is to offer multiple payment options, including PayPal, but with the knowledge that “consumers will dictate the payment form factors that retailers will have to accept.”

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In general, digital wallets and other forms of payment innovation will require a commitment to ongoing experimentation. As David McKay, head of Canadian banking at RBC, told the Globe and Mail in July of 2012, “It is one massive speed-dating exercise right now … Everybody is talking to everybody because nobody knows what the winning combination is yet, so everybody’s keeping their options open” (Robertson, 2012).

Is there an existing technology ecosystem you could partner with to enhance your retail payment experience for customers?

FORWARD THINKING

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Trend

Making sure loyalty programs reward loyal customers

A number of smartphone apps such as Stocard, Gyft, Checkout 51 and Passbook now make it easier to collect and manage loyalty points, cards and programs. These apps will also make it possible to trade or exchange loyalty points across programs, an approach popularized by sites such as Points.com. These developments suggest that retailers will need to reconsider what loyalty means in an era of interchangeable points.

Exchanging points devalues loyaltyIn a recent LoyaltyShares.com blog post, Paul Hebert noted that the trend toward an open economy of interchangeable loyalty points means that, “there will be a day in the future where points/miles become just another currency—as ubiquitous and fungible as cash” (2012). The problem with an open economy, according to Hebert, is that it erodes loyalty and teaches consumers to seek out the most points, rather than developing a long-term relationship with a particular brand.

Earning points beyond purchasesSome retailers have begun thinking about how to reward customers for actions other than purchases. In an interview with Direct Marketing News, Michael Jaconi, CEO of Rakuten Loyalty argued that “rewarding consumers for day-to-day online action[s]” is one way retailers can create more innovative loyalty programs (Joe, 2012). Xbox LIVE rewards is one example of this approach, giving points to players who interact with the brand through surveys, referrals or online community events (Microsoft Corporation, 2012). Meanwhile, mobile app shopkick delivers a reward to customers for simply walking into a participating retailer’s store (shopkick Inc., 2013).

In a December 2012 Forbes.com article, BigDoor CEO Keith Smith argued that established brands should add a digital layer to their loyalty programs so they can reward social media engagement, website visits and other multi-channel behavior (Clay, 2012). In many cases, these approaches need to be combined with a less open model of points exchange in order to encourage a stronger loyalty relationship.

Retailers can reinforce online consumer behavior through the use of cross-channel options for earning and redeeming loyalty point rewards. For certain brands there is also an opportunity to integrate gamification techniques to encourage increased social media activity or the use of branded mobile apps. In order to achieve success, rewards for non-purchasing behavior must be fair, realistic and clearly explained.

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How can you expand your loyalty program to take advantage of the multi-channel environment your customers currently inhabit?

How might you extend loyalty beyond purchases to include brand advocacy and social media engagement in order to deepen the brand-customer relationship?

FORWARD THINKING

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Trend

Digital currency creates a more open approach to payment

The technical architecture that makes digital payment transmission possible has historically been an inflexible and closed system (O’Connor, 2003). But there is an increasing shift to adopt a more open infrastructure for payments due to a combination of more efficient technology, experiments with decentralized forms of virtual cash and new security standards (O’Connor, 2003).

Make payment open and easyEfforts are being made to create global standards for web-based payments thanks to the Web Payments Community Group (W3C, 2013) and PaySwarm (Digital Bazaar, 2010), an open web standard that enables micropayments for digital content. Small organizations such as Stripe (2013) are also supporting this shift by making it easier and cost-effective for retailers to offer secure digital transactions by eliminating the need to create a merchant account or gateway.

Political currencyThe Government of Canada recently eliminated one form of micropayment with its decision to phase out the penny. At the same time, it recently concluded an open competition to develop a digital currency called MintChip that will allow for safe and secure micropayments between retailers and individuals (ChallengePost Inc., 2012). This means that although the physical penny will soon disappear, a digital replacement might eventually take its place.

Bitcoin operated retailBitcoin is a decentralized, anonymous and cryptographic-based form of virtual cash that has gained prominence due to the recent banking instability in Cyprus and Spain. As Maria Bustillos, writing on the New Yorker blog on April 3, 2013, explained, “rather than trusting in governments, central banks, or other third-party institutions to secure the value of the currency and guarantee transactions, Bitcoin [places] its trust in mathematics.” The math that powers Bitcoin is extremely complex, making mainstream acceptance of the currency unlikely. However, certain online retailers, including Namecheap.com and Bitcoinstore.com, accept bitcoins as payment.

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Have you considered web-based technologies like Stripe as a way to add a low-cost, innovative payment solution to your e-commerce operations while at the same time supporting the development of digital currency innovations?

FORWARD THINKING

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Mini Trend

Bartering social capital for actual capital

Bartering used to be limited to the exchange of tangible goods and services. But with the rise of social media influencers and Klout scores, certain brands are allowing their customers to trade intangible actions for tangible benefits. The best-known example is Pay With a Tweet, a service that allows a consumer to download an e-book or MP3 in exchange for a promotional tweet about the item in question. But recent examples are taking this idea in new and unusual directions.

Dance Dance Doodle Doodle RevolutionIn October of 2012, Coke introduced a vending machine in South Korea that dispenses free soda—provided consumers are able to correctly mimic the dance moves displayed on screen (Wasserman, 2012). Meanwhile, the Clarion Hotel in Stockholm, Sweden started accepting art produced by their guests as payment last summer (Chen, 2012).

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What do your customers enjoy doing—and how can their hobbies or habits be turned into a promotional bartering opportunity?

FORWARD THINKING

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Mini Trend

Bought by many, enjoyed by one

Buying and giving a gift is usually a one-to-one exchange. Wedding registries include multiple items, but each gift is usually associated with a single benefactor. But new payment methods now allow for social gifting, in which multiple participants contribute to the purchase of one item of significant worth, while retaining the ability to offer gift givers personal acknowledgement for their contributions.

GiveWishSocialButtonsA number of different social gifting options have emerged over the last year, including Wishgift, givebuttons and SocialGift. Some of these companies have partnered with specific retailers or social media platforms, but they all provide a more convenient way to collectively track and purchase gifts for birthdays or other significant milestones.

I’ll buy the tires, you get the hubcapsThe Dodge Dart registry launched in early 2013 and allows the crowdsourced purchase of a new car by leveraging a consumer’s social media network. Participants can specify the item(s) they wish to pay for, from nuts or bolts to the engine. If the participant is unable to raise the entire cost of the car, they are given the option of covering the difference.

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How might you offer creative ways of supporting the group gift purchasing experience that go beyond wedding and baby registries?

FORWARD THINKING

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What’s Next

Methodology

Our next report will look at retail trends through the lens of analytics, followed by technology platforms. Once these trend reports are complete, we will move to the next phase of strategic foresight: identifying the driving forces underlying the trends. Those driving forces will inform future scenarios, leading to the last phases in this strategic foresight initiative to articulate the future of B2C retail and commerce.

For more information, you can follow the project on Nurun’s blog, Digital for Real Life. If you have any questions, or want to receive an email reminder when our next trend report is published, please contact futureofretail@nurun.com.

Nurun’s Strategic Foresight team performed a horizon scan using the “STEEPV” framework to locate current and emerging trends and signals in the following areas: Social, Technological, Economic, Environmental, Political, and Cultural Values.

These signals and trends were then clustered and sorted into six overarching trends. Each of these overarching trends required the support of three to five strong signals or examples. Some trends had an excess of signals—in those cases, excess signals were catalogued for future inclusion or consideration.

The Nurun Strategic Foresight team will continue to monitor and collect new devel-opments in business models to inform subsequent strategic foresight work, especially scenario development.

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About NurunNurun is a global design and technology consultancy that works with some of the world’s most innovative companies. We create products and services for the connected world through a combination of human insight, new technology and smart thinking. Clients include Adidas, BBVA, Bouygues Telecom, Coca-Cola, Electronic Arts, General Electric, Google, The Home Depot, Tesla Motors, Sony and Walmart. Headquartered in Montréal and with 12 offices across North America, Europe, and Asia, Nurun has multidisciplinary teams of more than 1,200 anthropologists, designers, strategists and software engineers. Nurun is a wholly owned subsidiary of Québecor Média Inc., one of Canada’s largest tele- communications and media providers.

Meet the Nurun Strategic Foresight Team

Ryan BiggeAs a Content Strategist at Nurun, Ryan Bigge combines over 12 years of experience as a freelance journalist with a passion for design thinking and interactive art. His writing has been published in the New York Times Magazine, Report on Business and the Toronto Star. Ryan recently spoke at SXSW Interactive about analog souvenirs and physidigital trends.

Jen ChowAs Nurun’s Design Strategist, Jen utilizes a diverse set of consumer research tech-niques to uncover insights and shape new opportunities for various retail clients. Jen recently co-authored a report on the future of consumer-to-business payments that focused on the Canadian banking industry as part of her work in OCAD University’s Master of Design Foresight & Innovation program. Jen’s work fuses her eclectic background in accounting and finance with her keen interest in sociocultural trends and technology.

Kira LevineAs Senior Retail Strategist at Nurun, Kira’s focus is on translating consumer needs into viable retail solutions, bridging both in-store and online capabilities. She brings a unique blend of passion for retail with over nine years of experience in category and product management. She holds a Bachelor’s degree in Retail Management and an International MBA.

Audrey CarrAs Vice President, Strategy, Audrey guides Nurun’s cross-functional teams in identi-fying, framing and solving customer-centric opportunities across our omni-channel retail clients, including Sears Canada, The Home Depot Canada, Acklands-Grainger and the LCBO. She also leads the development and evolution of Nurun Toronto’s strategic capabilities in design research, design & retail strategy, analytics and inter-action design.

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Sources Acxsys Corporation. (2012). Interac Flash Services for Consumers. Retrieved May 7, 2013, from http://www.interac.ca/index.php/en/interac-flash/interac-flash-for-consumers

Bustillos, M. (2013, April 2). The BitCoin Boom. The New Yorker. Retrieved from http://www.newyorker.com/online/blogs/elements/2013/04/the-future-of-bitcoin.html

Carr, A. (2012, June). Leslie Berland – The 100 Most Creative People in Business in 2012 – Fast Company. Fast Company. Retrieved from http://www.fastcompany.com/most-creative-people/2012/leslie-berland

ChallengePost Inc. (2012). The MintChip Challenge. Retrieved May 7, 2013, from http://mintchipchallenge.com/

Chen, Y. (2012, June 12). Hotel Accepts Doodles From Artists as Payment for Rooms – PSFK. Retrieved May 7, 2013, from http://www.psfk.com/2012/06/hotel-accepts-doodles-as-payment.html

Clay, K. (2012, December 15). Will 2013 be the Year of Loyalty Programs? – Forbes. Retrieved May 7, 2013, from http://www.forbes.com/sites/kellyclay/2012/12/15/will-2013-be-the-year-of-loyalty-programs/

comScore, Inc. (2013, February 4). comScore Study Highlights Digital Wallet Market Potential and Current Adoption Barriers – comScore, Inc. Retrieved May 7, 2013, from http://www.comscore.com/Insights/Press_Releases/2013/2/comScore_Study_Highlights_Digital_Wallet_Market_Potential

Digital Bazaar, Inc. (2010). PaySwarm – Digital Bazaar. Retrieved May 7, 2013, from http://digitalbazaar.com/payswarm/

Duryee, T. (2013, February 11). American Express Cardholders can now Tweet to buy – Tricia Duryee – Commerce – AllThingsD. Retrieved May 7, 2013, from http://allthingsd.com/20130211/now-american-express-cardholders-can-tweet-to-buy/

Fitton, A. (2012, November 16). Mobile Payment: Rogers Suretap Arrives in Canada – Rogers RedBoard. Retrieved May 7, 2013, from http://redboard.rogers.com/2012/mobile-payment-rogers-suretap-arrives-in-canada/

Hebert, P. (2012, September 14). An Open Economy in the Loyalty Rewards Space – Good for Whom? – LoyaltyShares. Retrieved May 7, 2013, from http://www.loyaltyshares.com/2012/09/an-open-economy-in-the-loyalty-rewards-space-good-for-whom/

Joe, R. (2012, December 17). Breaking the Loyalty Model – Direct Marketing News. Retrieved May 7, 2013, from http://www.dmnews.com/breaking-the-loyalty-model/article/272936/

Marketwire. (2013, January 16). RIM Receives Approval from Visa for Mobile Payment Solution. Retrieved May 7, 2013, from http://www.marketwire.com/press-release/rim-receives-approval-from-visa-for-mobile-payment-solution-nasdaq-rimm-1746273.htm

MasterCard. (2013, February 25). MasterCard Introduces MasterPass – The Future of Digital Payments – MasterCard Social Media Newsroom. Retrieved May 7, 2013, from http://newsroom.mastercard.com/press-releases/mastercard-introduces-master-pass-the-future-of-digital-payments/

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Merchant Customer Exchange. (2012). Merchant Customer Exchange. Retrieved May 7, 2013, from http://www.mcx.com/

Microsoft Corporation. (2013). Xbox LIVE Rewards. Retrieved May 7, 2013, from http://rewards.xbox.com/

Mobeam Inc. (2013). FAQ – Mobeam – Mobeam allows you to redeem anything with a barcode – coupons, tickets, gift and loyalty cards – directly from your smart-phone. Retrieved May 7, 2013, from http://mobeam.com/faq/

O’Connor, S. (2003). Developments, Issues, and Initiatives in Retail Payments (Bank of Canada Review) (p. 32). Canada: Bank of Canada. Retrieved from http://www.bankofcanada.ca/wp-content/uploads/2010/06/oconnore.pdf

Perez, S. (2013, January 15). PayPal Partners With Point-Of-Sale and Hardware Maker NCR to Expand its Retail Footprint – TechCrunch. Retrieved May 7, 2013, from http://techcrunch.com/2013/01/15/paypal-partners-with-point-of-sale-and-hardware-maker-ncr-to-expand-its-retail-footprint/

Rao, L. (2013, January 14). PayPal Adds new Retailers for In-Store Payments Product; Tests Order-Ahead Pickup at Jamba Juice – TechCrunch. Retrieved May 7, 2013, from http://techcrunch.com/2013/01/14/paypal-adds-new-retailers-for-in-store-payments-product-tests-order-ahead-pickup-at-jamba-juice/

Robertson, G. (2012, July 11). Canadian Banks Rushing to Offer Virtual Wallets – The Globe and Mail. Retrieved May 7, 2013, from http://www.theglobeandmail.com/report-on-business/canadian-banks-rushing-to-offer-virtual-wallets/arti-cle4404561/

Shopkick Inc. (2013). Shopkick – About. Retrieved May 7, 2013, from http://www.shopkick.com/about

Siwicki, B. (2013, February 20). Mobile Commerce – Wal-Mart Expands Self-Checkout in Stores via its iPhone app – Internet Retailer. Retrieved May 7, 2013, from http://www.internetretailer.com/2013/02/20/wal-mart-expands-self-checkout-stores-its-iphone-app

Stripe. (2013). Stripe: Payments for Developers. Retrieved May 7, 2013, from https://stripe.com/ca

Tode, C. (2013, March 11). Retailer Enthusiasm for Mobile Payments Tempered by Power Struggles in Industry – Mobile Commerce Daily – Research. Retrieved May 7, 2013, from http://www.mobile-commercedaily.com/retailer-enthusiasm-for-mobile-payments-tempered-by-power-struggles-in-industry

W3C. (2013). Web Payments Community Group. Retrieved May 7, 2013, from http://www.w3.org/community/webpayments/

Wasserman, T. (2012, October 22). Vending Machine Makes you Dance for a Free Coke [VIDEO]. Retrieved May 7, 2013, from http://mashable.com/2012/10/22/vending-machine-dance-free-cokes/

Wohl, J. (2012, August 31). UPDATE 3 – Walmart Tests iPhone app Checkout Feature – Reuters. Retrieved May 7, 2013, from http://www.reuters.com/arti-cle/2012/08/31/walmart-iphones-checkout-idUSL2E8JVH5B20120831

Wohl, J. (2013, March 20). Walmart Adds iPhone Scan-and-Checkout Feature to 12 More Markets – Reuters. Retrieved May 7, 2013, from http://www.reuters.com/arti-cle/2013/03/20/us-walmart-checkout-expansion-idUSBRE92J0P020130320