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Payscout Blog

Trends in Mobile Payment Processing

Posted by Lyn McKay on Oct 7, 2015 11:00:00 AM

bigstock-Online-Shopping-Concept-60400649.jpgToday, the most common methods of payment in almost any business industry are via debit and credit card. If you are not accepting card payment, you are most likely losing out on sales. After all, statistics show that three out of every four retail transactions done in the United States are preformed using a credit or debit card, and often times, these transactions occur via an online marketplace. Gone are the days when merchants are tied to counters and conventional offline stores.

Mobile card processing also enables retail business owners to reach their target market wherever they go.

 

Retail business owners can now leave their store behind and go to where the consumers are. Regardless of the industry you are in, you will definitely benefit from mobile payment processing.

One up-and-coming mobile payments trend that retail owners should be paying attention to is the use of mobile wallets. Mobile wallets are apps that allow you to pay with your credit card using your phone instead of a physical card. This is a huge advancement in payments technology, merging the security of a payment card with the ease and convenience of a smartphone. Mobile wallets are available on both iPhone and Android enabled devices and are gaining swiftly in popularity, with 11% of the American population making use of these apps.

Make sure you are staying on trend as a business owner; contact one of our customer service specialists today at 888-689-6088 to see how you can begin accepting payments from mobile wallets.

 

Topics: Mobile Processing Services