‘PayPal of mobile’ system to “revolutionise” retail
A new mobile purchasing (m-commerce) service has launched that allows consumers to buy products via text message, speeding up transaction times and targeting impulse buying behaviour.
The txt2buy service allows retailers to place a call to action in their offline advertising that gives consumers the option to buy products instantaneously.
Retailers add a simple promotion code and SMS number to their print, TV or radio advertising and customers then respond to the advert via SMS and, following a one-time registration process with txt2buy, are then able to buy the product, as well as any others sold through retailers using txt2buy codes within their advertising.
According to txt2buy, SMS promotions work best as part of TV or print campaigns.
Txt2buy operates a commission system with retail partners, collecting funds on their behalf from customers and then forwarding the total, less the agreed commission, to the retailer.
Retailers themselves provide txt2buy a list of the products they wish to sell through the txt2buy platform, which is then uploaded and made live for sale.
In order to integrate the service with retailers’ operations, txt2buy provides an application programming interface that links its platform into order fulfilment systems. As soon as a payment and order is placed, the order information is transmitted live directly into the fulfilment system for delivery.
Brands can also use the system, with sports nutrition brand Maximuscle an early adopter of the technology.
As well as capitalising on impulse buying behaviour, txt2buy said the service opens up m-commerce to all phones, not just those that are internet-enabled or able to download a specific application, as well as reducing the risk of consumers responding to an advert by going online to find the product cheaper elsewhere.
Gordon Ellis-Brown, marketing and brand director at txt2buy, said: “Txt2buy is a compelling new service that has the potential to revolutionise how brands engage with a larger customer base, more than ever before.
“It is by far the most convenient way to close a sale, as consumers don’t need internet access to purchase; all they have to do is send a simple text. Any phone that can send SMS messages can buy using txt2buy, meaning it isn’t restricted for those with the latest smartphones either.”