Google Wallet, ISIS’s biggest rival and frontrunner in the mobile payment race, already has check-out scanners in more than 100,000 retail locations, including the Gap, Office Max, and Walgreens, and many retailers will even offer both ISIS and Google Wallet as mobile payment options. However, there is little word regarding the lack of smartphone support for either system – Google Wallet, for example, is currently available on only four Sprint smartphones.

ISIS’s concrete stake in the race has launched the discussion of the future of mobile payment straight from conjecture into plan-of-attack. Our most recent Potty Posting offers a whole slew of information about the implications of mobile payment for brands and marketers, the technology used, category competitors, and the possibilities of what’s ahead. We’ll continue to track developments in these trends as the push for mobile payment progresses.

But as for now, it’s clear that brands, retailers, and even marketers who aren’t fast enough to keep up with the demand for mobile payment will undoubtedly be at a disadvantage when it comes to leveraging the opportunities it offers. Stay smart about mobile payment by keeping up with the Awesome Blog – we’ve got you covered.

Debit and credit cards are so last year. Checks have all but crossed the line into social taboo. And cash is basically, like, archaic.

Ugh, it’s like retailers don’t even want our money.

But wait! A few days ago, a Pew study found that 65% of surveyed tech critics and stakeholders believe mobile payments will replace cash and credit by 2020.

Even though mobile payment is still in its infancy, it seems like everyone is hopeful about its future, especially when it comes to improving the process with updated technologies.

Unfortunately, good citizens, we have cynics among us – those who worry about things like security, standardization, and the cost of new gadgets.

But fear not. We wouldn’t want you stranded in the Dark Ages of outdated currency. With this handy guide, follow us into the realm of information so you, too, can help welcome this brave new, digital-financial world.

What Is This Sorcery?

Put down the torches and pitchforks, townspeople. Brands that you already know and love have signed on to create promising mobile wallet apps, using these new technologies:

NFC, or Near-Field Communications, allows you to pay simply by waving your mobile phone at an NFC receptor at the register.  RFID, or Radio Frequency Identification, is like NFC but can be used at a longer range. And 2D barcodes can even be scanned at the register from a customer’s phone to charge a pre-paid account.

Rather than producing your credit card at every purchase, mobile wallet apps store your financial data and use these technologies to pull it for you automatically, at the point of purchase.

The Google Wallet app, which uses NFC, currently only works with Citi Mastercard and the Google prepaid card, but it does sync with your Google Offers and hopes to soon hold all card types.

Acceptance is liberation. (credit: fullissue.com)

Like Google Wallet, ISIS, a joint venture of AT&T, Verizon, and T-Mobile, will also use NFC and will hold credit cards, loyalty cards, and promotions.

PayPal also plans to release its PayPal Wallet app soon. Unlike Google Wallet, it won’t use NFC but will let you change your payment method up to 7 days after you pay.

These apps will soon be able to hold multiple card/account numbers and allow you to choose which account you’d like to charge when you wave your phone at the receptor. They will also have the ability to store coupons, receipts, and past purchase information to facilitate discounts and returns easily.

However, as mentioned earlier, there are dissenters. They wonder if it could be easy for someone to access your bank accounts just by waving their phone near yours (no.) They don’t want to have to buy NFC-enabled phones (they’ll change their minds). And they complain about the lack of standardization in mobile payment technologies (ok, that might be a good point).

How Can Marketers Conjur This Black Magic?

What the dissenters don’t see is that evolving mobile payment platforms are prime real estate for marketers!

Imagine the ease of distributing targeted promotions! Using NFC, mobile wallet apps can already track a consumer’s location and purchase history, allowing brands to send her coupons for the store she’s browsing in or updates on items she frequently purchases.

Think of the social media integration! What if a check-in immediately rewarded her with a coupon loaded to her mobile wallet, and her purchase was discounted automatically at the register? And if she allows Facebook to post which coupons she was receiving, not only would it encourage more check-ins, but it would encourage her friends to adopt the app, too.

Plus, there’s potential to move into other forms of media – MasterCard’s QkR app can pull purchasing information from just about anywhere, including QR codes, TV signals, and the Xbox Kinect. Praise technology of the future!

Say NO to the tyranny of physical currency! Demand your NFC-enabled smartphone today!

(credit: venturebeat.com)

The opportunities of mobile payment are looking promising. While the technologies and full capabilities of the apps are still to be cemented, brands are sure to see significant benefits when the rough edges are smoothed out regarding standardizations and security misperceptions. But, once mobile payment technology is ready for the mainstream, brands can use it to inspire action and usher in the glorious age of mobile finance!

But could it have the same effect on what people think about the world that frames the characters and complexity – the world of marketing? As consumers become bored with traditional advertising techniques, brands evolve by producing more entertaining, interactive, and insightful campaigns, so consumers can’t help but enjoy the creativity and innovation in content. However, they’re still wary of advertising claims, believing that brands are more interested in bolstering sales than providing consumers with products to benefit their lives.

Much like Mad Men’s uncanny ability to change culture through its poignant human insights, the show could be beneficial to the public’s perception of marketing as well. In “The Wheel,” the final episode of the first season, Don Draper pitches an idea for a slide projector to prospective clients at Kodak, who made it clear that they’re interested in running with an ad theme of technological advancement in their new product. However, by putting his personal photographs onto the projector, tainted by the heartbreak of his inner turmoil and crumbling family life, Draper effectively shows the clients at Kodak, and the viewer, that marketing is not about shiny new things. It’s about human insights, the personal relationship people have with certain products, and the opportunities brands have to capture the memories and emotions that surround human relationships.

It could just be that, with Mad Men’s gaining popularity and the growing interest in advertising (The Pitch, a new reality show centered on agencies pitching marketing ideas to brands, was hatched to strategically bask in Mad Men’s glow), the show has the power to change consumer culture’s suspicion of marketers. With a carefully-curated storyline, consumers now have an insight into Don Draper’s perspective that campaigns are made by humans for humans, with complexity and emotion both delivering and receiving each message.

The argument for permanent change is that frugality is the new reality, as people turn their backs on conspicuous consumption. Many pundits link this ‘new attitude’ to popular support for the Occupy Movement, which is seeking to replace consumerism with a more utopian society. Very idealistic but as far as there being a long-term shift in consumer sentiment, forget it.

Yes there’s a mountain of data to show I’m wrong. Only yesterday I read a shopper study from a well respected research group, which described the consumer’s new and apparently permanent mindset: designer purses, high-end cosmetics, high-end jewelry, maid service, facials, new jeans and new shoes, to name but a few ‘expendables’ are all out. Other media reports even tell us the recession has a silver lining, either because it’s a ‘teaching moment’ on family finance or because it has freed people from the treadmill of spending.

Now I don’t dispute the recession has had a terrible impact; nor do I challenge that much discretionary spending is way down, just as coupon use and spending in the Dollar Channel is way up. My argument is this behavior is caused simply by a lack of cash and not by any cultural shift.

But wait I hear you cry, what about the explosion in bargain hunting? What about the success of Chicago’s own Groupon? Or Rue La La? Surely that’s a behavior that will stay? Yes, but then haven’t Americans always loved a bargain? The 1980s and 90s saw the rise of Walmart, feeding consumers’ desire for “everyday low prices.” People have always lined up outside stores with big sales: last Thanksgiving it was Walmart and Best Buy. 30 years ago it was Sears and Marshall Fields. While today’s shoppers are better informed, I don’t believe they’re any more bargain hungry than earlier generations.

In any case, my point here isn’t that people won’t carry on looking for deals; it’s that even after the worse recession since the 1930s, their emotional drive to shop for things that make them feel good remains a strong as ever. Sure actual spending has dipped because the money dried up but that visceral desire to consume remains. And if I’m right, brands that tap into that pent up demand will do far better than those who behave in line with the ‘conventional wisdom’.

For support of my thesis, look at Gfk Roper’s latest Annual Perspective. Gfk Roper asks some smart questions that give a better glimpse into people’s minds than most polling.

First, over the last 3 years the percentage agreeing with the statement “I am really turned off by people’s obsession with material possessions today” has declined, from 67% to 61% for the whole population, and from 67% to 55% for those earning over $100k.

Then take a look at this Gfk Roper chart, showing the percentage of people who agree with the statement “I like to buy prestigious brand names.”

What hits me about this chart is that it clearly shows that what I’m talking about isn’t restricted to the very rich, but is shared by many middle-income households.

On a more anecdotal level, think about the current success of glitzy brands like Audi, BMW, Mercedes and even Detroit’s own Cadillac. And to judge from the crowds at this year’s Chicago Auto Show, the appeal of these high-end brands is pretty universal: their stands were far busier than Ford or Chevy. Sure most people were probably fantasizing but that’s my point: the desire for brands with style and cachet still outweighs the appeal of more worthy options like the Toyota Prius and Chevy Volt.

Finally, talking of cars leads me to the Mercedes-Benz sponsored New York Fashion Week, on as I write. The coolest aspect of fashion today isn’t the on-going success of couture classics like Chanel and Armani (nor even Marc Jacobs’ simply marvelous hats shown above), but the spread of designer labels into the real world. Olivier Theyskens at Theory, Marni at H&M and Mizrahi at Target are all brilliant examples of hip designers and savvy retailers tapping into consumers’ desire to wear a ‘designer piece’, albeit at a relatively affordable price.

My point is not that consumers aren’t hurting, they are. My point is that despite the last few years, people still yearn for possessions that truly make them feel good, be that a killer pair of Louboutins, a new Audi or a bottle of 20 year old Elijah Craig Single Barrel bourbon at over $150 a pop. And as times improve, people will go back to their old ways (check out this recent CNN article on consumer spending.)

I’d add that even if it takes years for the economy to fully recover (sadly that’s the consensus of most economists), people are going to find ways to spend on what they really love, even if it means shopping at Dollar stores for everything else. What they will not do is stop being consumers, in the full-up capitalist sense of the world.

The take-away for marketing people is that you need to think very carefully how to tap into today’s Zeitgeist or spirit of the times. Do you stick with the conventional wisdom and try to connect with the ‘frugal’ consumer mindset? Or with the consumer who really can’t wait to indulge in some spending again? My money is on the later but what do you think? And if you disagree with my argument let’s have a debate. Post your thoughts. Start a conversation. It’s what blogs are for.

In our take on Mindfulness as an important shift in consumers’ attitudes this year, we were careful to note that we’re not predicting scads of new Buddhists across the country despite mindfulness’ origins in Buddhist teachings. So although the article does acknowledge this association in the reporter’s description of a mindful meal in an actual Buddhist monastery, he also includes evidence of a wider embrace of mindful eating on the part of experts who study Americans’ often tortured relationship with food. The article includes quotes from Prof. Brian Wansink, from the Food and Brand Lab at Cornell University and the author of “Mindless Eating: Why We Eat More Than We Think,” as well as from Dr. Lilian Cheung, a Harvard nutritionist who has devoted herself to studying the benefits of more mindful eating, and is “passionately encouraging corporations and health care providers to try it.” Dr. Cheung has already sparked a monthly mindful lunch at that arbiter of all things cool in the corporate world, Google’s corporate HQ.

As noted in the NYT piece, eating with mindfulness is not so much about what we eat, but how we eat. The frantic, hyper-speed pace of modern life is influencing every facet of our lives, from how we think, shop, work, and eat. We’re eating on the go, at our desk, and we’re often racing through our meals without noting not only how much we just scarfed down, but how much we actually enjoyed the experience of that particular food, snack or meal. As noted in our trends report, brands who can remind their consumers to slow down a bit, enjoy the moment, and truly savor the experience with their product stand to benefit from this growing awareness that mindfulness will forge a more emotional and fulfilling connection with that consumer. Food for thought indeed!

Click the image below for the full-size infographic!

In January, 2011, Starbucks launched its Mobile Card payment program available on most smartphones. SMART. No doubt you’re already on your phone at 8:30 in the morning while ordering a Grande Skinny Vanilla Latte, so it’s easy to flash your “Touch to Pay” barcode and be on your way. The app replaces your reloadable Starbucks card (while keeping your rewards intact), and you can preload it from your bank account within the same screen.

With the release of Google Wallet, users can now pay with a simple tap at Mastercard paypass terminals. For now, this is advancement only for those with Google phones…and a Citi Mastercard. But, with this technological groundbreaking device, users are also able to receive offers and store loyalty points via the app.  We’re attached to our phones, so what better way to reach us directly when we’re making a transaction.

Click here to view the embedded video.

Shopkick offers rewards for simply stepping inside a store and scoping out merchandise. It displays deals and discounts close in proximity to your location. The more you peruse, the more points are earned for redemptions ranging from clothes to electronics.

While cashless-ness becomes the norm, we can only assume that consumers will rely less on the benjamins, but let’s not forget about Future Fear. A lot of emphasis is placed on convenience and practicality when we look at technological enhancements. It’s our job to find the perfect balance between convenience and trust.

What we can gather from our own shopping habits is that we rely heavily on the convenience factor, no doubt about it. We’ve become increasingly comfortable with everything being accessible through our phones. We can purchase a Groupon, find our way to Alaska and back, and even count the steps we take around the office with our smartphones.

“What? I can’t just show you the e-mail, I have to print it out?!”

As marketers, we should reach our consumers as soon as they walk into the store, making it harder not to refuse a great deal on the very same phone used to swipe and pay. It has been reported that 20% of smartphone users have compared prices while shopping in brick-and-mortar stores. Additionally, 15% of smartphone users have redeemed a mobile coupon (ladies more so than gentlemen). Let’s take advantage of these time-saving, less paper-wasting social platforms that deliver instantaneous results without hassle. Smartphones aren’t going anywhere, so creating more convenient methods of in-store redemption and offers will put us ahead of the game—and the checkout line.

What will it take for YOU to go CASH-LESS?

Many hotels are already offering experience-based rewards in their loyalty programs and enhanced concierge services to assist guests with discovering the world outside of the hotel. Instead of stockpiling points for a free night’s stay, members of these programs can earn cultural activities, like going backstage before a performance at the Peking Opera or spending the day with a professional bullfighter. Some loyalty programs even offer express experiences specifically designed for business travelers who may only have an hour or two to spare but who still want to go home with at least one memorable insight into the destination they visited.

Additionally, several startups have recently emerged to meet the wanderlusty needs of travelers by offering trip curation tools, local knowledge and a much-needed dose of personalization to the online trip planning process.

Launched in April, Vayable connects travelers with tour guides offering unique and intimate local experiences, like scouting Montmartre street art in Paris or visiting sample sales in NYC with a fashion insider. By allowing these independent guides to sell their local knowledge, Vayable is redefining the tour and activity segment of the travel market.

And then there’s Fortnighter, also launched this year, which provides (for a fee) made-to-order itineraries from professional travel writers based on the user’s dates of travel, interests and budget. Fortnighter brings currency, personalization and expert knowledge to the travel planning table and allows users to steer clear of the unreliability of algorithms and user reviews.

A slew of other services have also cropped up recently. All of this suggests that the travel experience marketplace is heating up, and there appears to be room for more. When looking across the dreaming, researching, booking, experiencing and sharing travel cycle, what kind of product or service can you offer that will assist travelers with collecting those sought-after experiences? How do you evoke the moments that inspire us when we travel? How do you help deliver more authentic travel experiences?

Click here to view the embedded video.

The invitation-only site has taken the creative world by storm. It’s given users access to a seemingly endless world of “pins” that can be saved on their own categorized pinboards and titled however they see fit. See a recipe on a blog that you want to make for dinner next weekend? Pin it to your “foodie” board. When you click on it later you’ll be taken back to the original recipe. Planning a wedding and trying to find the perfect bouquet inspiration? Do a search for flowers and pin photos of gorgeous bouquets to your little heart’s desire on your “tie the knot” board. See a quotation that makes you laugh, cry or think of a friend? Pin it!

Silbermann and his co-founders took the visual bookmarking to another level. Users may “follow” friends (and strangers), and comment on each other’s posts, much like on other social networking sites. Facebook users may also recognize the “like” button on Pinterest, while Twitterers can use their beloved hashtags in their pin captions. A recently updated iPhone app and brand-new mobile capabilities for other smartphones make for easy pinning on the go. In other words, the idea that inspiration is all around us has been “pinned” down, and you can quite literally take it with you wherever you go.

As Pinterest continues to grow, brands are taking note and jumping on the pinningwagon too. The popular home goods retailer West Elm uses the site to pin not only their own catalog of products, but other inspirational images as well. From there, followers can click on or repin images that link to the West Elm website where visitors can easily purchase. It’s that simple!

Go ahead. Request an invitation here. And start pinning!