The time is right for small firms to embrace mobile payment processing
January 07, 2014
One of the biggest trends for small and medium-sized businesses in 2013 was a growing interest in using technology that makes it easier to accept mobile payments from customers.
Jason Oxman, CEO of the Electronic Transactions Association, wrote in Mobile Payments Today about how the opportunities to combine smartphones and tablets with the point of sale experience are greater than ever before.
"I think this is the year our industry found a unique and promising value proposition for mobile payments," Oxman said, citing both the growth of broadband-enabled smartphones and the ubiquity of credit cards among a large majority of consumers.
He suggested further integration of these two trends in 2014 will provide small firms with the ability to maximize all revenue channels.
The online resource Computer Talk said mobile POS technology eliminates many of the barriers that have always existed between stores and their customers. No matter what the industry, businesses can boost the efficiency of transaction processes by enhancing the ability to accept credit card payments from virtually any location. This level of flexibility may ultimately lead to greater sales numbers in the long run.