Millennials are a generation defined as reaching young adulthood in the early 21st century. This generation is the first to grow up in a technological world, with the widespread use of the internet and other fundamental daily technologies taking place in their lives. Because of this technological timing, millennials stand out¹ among other generations for their use of technology. 92% of this generation own a smartphone, 54% own a tablet computer, and 85% use social media platforms. 90% of millennials also view the internet as a good thing for society.
These devices play a large role in the life of many millennials. They allow for instant and constant communication with family and friends, and many people are now able to work directly from home via the internet. Technology also allows this generation to shop from the comfort of their own home using computers and mobile phones. Mobile phones, which are now very much mobile computers, can also be used during point of sale (POS) transactions as a contactless payment option.
Mobile Payment Developments
These payment options have opened up a new world of business and commerce. Companies can market to potential customers through these mediums, and also carry out transactions through them. This technology has revolutionised the business world. It is of great use for businesses to understand which payment methods are easiest, most customer-friendly, and most popular, in order to tailor their services to meet these demands.
Mobile payments have emerged as a new channel of commerce, and have been suggested as a means to facilitate micro-payments and to provide an alternative to cash sales and card payments. Mobile payments are defined² as the use of a mobile device to conduct a payment transaction in which money or funds are transferred from payer to receiver via an intermediary, or directly without an intermediary. At present, the most common way mobile phone payments are conducted in Europe is through SMS payments — making a purchase by texting a service number.
The Future Of Transactions?
The domain of mobile payments is ripe for innovation and further development. These devices are now so prevalent that it seems logical for mobile payments to become the most predominant in time. Furthermore, mobile phones are kept close to their user, making it more comfortable for individuals to store personal and sensitive information such as bank details.
As it stands, there are numerous examples of very successful mobile phone applications, some of which have become billion dollar businesses, such as PayPal Mobile. Research has found that the biggest obstacle for mobile payments is customer adoption.
Surveys have been conducted to find out the prevalence of mobile phone payments among millennials within Europe. Overall, it has been found that the number of mobile phone payment users is relatively low. A study group of 4,033 individuals consisting of 50% males and 50% females between the ages of 18–35 were questioned on their use of mobile phone payments in 2016. All participants were from either Germany, Italy, the Netherlands, or the United Kingdom.
It was revealed that Italy was the most welcoming of this technology,³ with 37% of millenials from the region stating that they used mobile phone payments. The Netherlands was a very close second, with 36% of millennials using the technology. Only 25% of millennials in the United Kingdom and 21% in Germany used mobile phone payments.
BitCanna will provide a Decentralized Payment Network, Supply Chain and Trust Network for the legal Cannabis Industry.
BitCanna will provide a Decentralized Payment Network, Supply Chain and Trust Network for the legal Cannabis Industry.
Why BitCanna? We’ve summed up 10 reasons: 👇
1 Booming business
The global cannabis market is expanding at an extremely fast pace.
2 Powered by the industry
BitCanna has already established partnerships with the top brands in the industry.
3 World-famous brands
The BitCanna Alliance is active in over 27 countries and globally connected within the industry.
4 Millions of visitors
The partners have over 10 million unique visitors per month.
5 15 Years of experience
Team with over 15 years of experience in the cannabis industry.
6 Custom blockchain Live at launch
The BitCanna main net will be fully live as a payment network with wallet 1.0 at launch.
7 Proof-of-Stake
A Proof-of-Stake blockchain will be used to process all BitCanna transactions.
8 Online integration
Direct integration with the biggest online shops at the launch of the project.
9 Physical stores across europe
Integrated with physical stores in Barcelona, Amsterdam, Eindhoven, and many more to come.
10 International media partners
Supported by well-known international media partners.
📖 BitCanna whitepaper v1.01 : http://bit.ly/2Lua44c
Whitelisting is live! If you’re fast enough, there’s still some free tokens to claim! 🔥
http://bit.ly/2LvB6rH
Maximum Sign-Ups: 15.000
Start Whitelisting: 01–07–2018
Runtime: Until November 1st, 2018 or 15.000 Sign-Ups
References:
1. Millennials stand out for their technology use, but older generations also embrace digital life. Pew Research Center. http://www.pewresearch.org/fact-tank/2018/05/02/millennials-stand-out-for-their-technology-use-but-older-generations-also-embrace-digital-life/. Published 2018.
2. Exploring consumer adoption of mobile payments — A qualitative study. Journal of Strategic Information Systems. https://www.sciencedirect.com/science/article/abs/pii/S0963868707000480. Published 2007.
3. Share of Millennials* using mobile payments in selected European countries as of November 2016. Statista. https://www.statista.com/statistics/727433/millennials-using-mobile-payments-by-country-europe/. Published 2018.
