6+-+Value+Proposition

__Consumer Value Proposition__ The Kingston mobile offers convenience, reliability, security and instant payment option for consumers. North Americans are continuously pressed on time due to its fast pace culture and environment. Through the Kingston Mobile payment system, consumers can enjoy the convenience of paying for acquiring goods and services during their busy day. They are not required to register with each individual vendor like it is with online stores. Thus, consumer transactions are fast and easy to use. It provides users a true alternative payment system that eliminates the use of money, physical credit and debit cards. This gives consumer more control over their identification and personal information. Not to mention carrying less items on the body. It avoids identity theft, skimming and cross contamination from exchange of money. Its reliability is complemented by the Kingston Mobile security system. Which consists of the 3-factor authentication to guarantee this service is not in the wrong hands.


 * Vendor**

Furthermore, our service is geared towards enabling micro payments i.e. payments that debit and credit card systems -typically- do not accept. Thus, Kingston MPS capitalizes on lost profit from customers who are reluctant to find an ATM machine to make small purchases//.// Moreover, the convenience advantage of our offering will increase the probability that a customer will purchase an item that they would have not otherwise. Also, our superior security system reduces the risk of fraud and theft thereby reducing retailers’ security costs and consequent investigations. Furthermore, our intuitive system will allow vendors to efficiently track their clients spending habits; allowing them to anticipate future trends and adapt their businesses to maximize consumer purchases.


 * Banks**

Kingston MPS’s efficiency driven ethos will provide a means for banks to reduce operation costs and increase revenue streams. The convenience we offer will entice customers to use mobile payments as opposed to cash, money orders or cheques ; processing costs most banks between $0.50 to $1 per cheque (BBC, 2007) Furthermore, emerging markets demonstrate lucrative opportunities for firms in all industries, particularly banks. A middle class is rapidly emerging in BRIC nations, as such a more people are entering our target market –people with exposable income. However, the vast majority do not have the knowledge or means to reap the benefits of a person bank account. To capitalize on this opportunity, Kingston MPS offers an intuitive and flexible means for people in the emerging markets to manage their money-through the use of our pre-paid system. Furthermore it will reduce theft and streamline traffic in high volume areas such as retail stores and coffee shops.

BBC. "BBC NEWS | Business | Paying Bills by Cheque Can Be Expensive." // BBC NEWS | News Front Page //. Dec. 2007. Web. 2 Apr. 2010. .
 * Works cited**