We think QuickPay 1.0 and the upcoming 2.0 version of the feature could drastically change consumer behavior when it comes to offline to online purchase conversion. IE Market Research projects that purchases made via cellphones in the US will exceed $40 billion by 2014 – that is a BIG opportunity. In fact even today, Amazon is seeing great traction with their mobile apps – more than a billion in revenue in the past 12 months. What if an application (say ShopSavvy) offered the same sort of functionality, but allowed consumers to buy the same product for less from ANY/EVERY other retailer? We think QuickPay will do just that.

Amazon recently released their version of ShopSavvy. It makes it easy to scan barcodes and find the item on Amazon. Several folks asked if we were worried. The answer is – of course – I am always worried. The truth is I think Amazon is worried. Why do I think that? Well first, Amazon cut off our access their API last year. This was a little surprising and didn’t seem to make much sense. Then they made a half-hearted offer to buy us, but in reality I think wanted to see our data (we didn’t share it). Now before you jump to the conclusion that I don’t like Amazon realize that I am a huge Amazon fan; as proof my family bought 80% of our Christmas gifts from the site.

The biggest reason I think Amazon was worried was the simple fact that more than 96% of the time they do NOT have the lowest price on a particular product. In fact, out of 3,171,490 products our users have scanned, Amazon was the cheapest option 123,174 times – 3.8% of the time. QuickPay allows a user to buy a product with just a few clicks – just like the Amazon app, but the difference is that the user can buy the product from the cheapest retailer – not just through Amazon. We believe QuickPay is going to be big – very big.