Enabling evidence-based retail marketing with the use of payment data - the Mobile Payment Reference Model 2.0

Although the extent of e-commerce and m-commerce is continually increasing, the vast majority of the payment transaction potential remains in real-world scenarios such as customary retail POS. However, without adding substantial value, current business models rely on simple transaction-based revenues. The aim of this paper is to evaluate and exploit the freedom degrees of the m-payment business model framework, with special regard to new developments connected to the smartphone economy age. Therefore, we examine methods of data collection and usage to analyse customer preferences and enable evidence-based marketing both theoretically and by case study research. To generate new revenues from third parties, we extend the mobile payment reference model (MPRM) with new business model elements and roles. For the shift from existing simple transaction-based systems to upcoming modern m-payment procedures built around the central value of customer data, the MPRM 2.0 provides a theoretical background and according reference value architecture as well as an analysis tool to be used in research and practice.