In the LUUP
A while ago, I wrote about how important it is to get the information at the right time when you’re shopping. A crucial question facing the wireless sector is how to translate retail information accessed with mobiles into actual sales. Well, how about using your mobile phone as a payment method? That’s the solution put forward by the team at LUUP.The idea isn’t a new one. The UK telecom sector and banks have been tinkering with “m-commerce” (mobile commerce) solutions for years, including now-defunct services like Simpay and Paybox (which still operates in Austria). Recently, premium text services have been the only significant method of paying for services with your mobile phone (with MNO’s taking a huge slice of the revenues). The big five network operators are still working on their Pay4It m-commerce project, but LUUP, founded in Norway in 2002, entered the UK market this summer and are making m-commerce a reality.
LUUP allows you to send and receive payments online or through your mobile phone using credit/debit cards, bank accounts and the “digital cash” in LUUP wallet. Anyone who has a mobile phone can sign up for a LUUP wallet. It’s an independent service and can be used regardless of your bank and telecom provider. It’s a great service and easy to set up and use - very popular at the 82ASK office.
Right now, LUUP is concentrating on providing payments with mobile content providers and charities, but the implications for this payment system are vast. According to Christopher Lovold’s interview with SMS Text News, LUUP are developing retail applications such as mobile and online content (ringtones, wallpaper, and other media), as well as betting and ticketing, alongside person-to-person payments. But it will be interesting to see how this service translates into the bricks-and-mortar retail sector to respond to impulse buying.
Online payment giants Paypal have entered the m-commerce fray, but LUUP seems to relish the competition. I’ll be watching the m-commerce market with interest to see how it can benefit our business and our customers.
