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There is no business enterprise that is doing so well in today’s economy that it can ignore a potential boom. Merchant credit card processing services are essential for any business that wants to survive the current recession, but some companies are looking at new ways to bring customers into the store.  Mobile coupons, those strange looking little squares you might notice on your concert tickets or on some web applications, are likely to be the next big development in marketing.

Scannable Mobile Coupons

Everyone is familiar with the idea of a coupon.  It can be a terrific way to drop the price on an item you already want.  What if you didn’t have to look for coupons?  What if they came directly to your cell phone and you could just present the phone, and the scannable link to the credit card terminal and any item you purchased that had a coupon attached came up discounted?

Target was the first company to make this idea a popular reality.  Of course they did so by offering customers some serious incentives so that they would provide their cell phone numbers, but the idea expands not only marketing practices, but also the uses to which a store can put their terminals and registers.  It also saves on paper and printing costs.

What are Mobile Barcodes?

Not surprisingly, for those who haven’t seen or heard of them before, the idea of a mobile barcode may seem peculiar.  We are all accustomed to the linear, also called 1D, bar codes found on the backs of just about every product; lines of black and white that are used to provide info about the item when scanned.  Mobile barcodes are similar in nature, but much more complex; in fact many of them look like abstract art.

Inbedded in that mobile barcode on a smart phone is a lot more marketing information than is found in the 1D barcodes of the past.  Things such as demographics, which will allow you to customize offers and budget more efficiently, are routinely included.  Already widely used in Japan, mobile barcodes will shortly be “invading” US stores as well.

What’s the hold up?

To date, only a couple of merchant credit card processing firms have the technology available to scan and process mobile bar codes.  Airlines have been incorporating the appropriate technology to facilitate ticketing – but they ordinarily have a lot more money to invest in such equipment than a little store.  Never the less, as the price of such equipment drops, it would be wise to consider adding mobile barcodes to your marketing plans.

After all, information is power in the business world, and any edge you can gain over your competition will help you stay afloat, even in hard economic times.