The Explosion of Mobile Payment

Who wouldn’t want the latest technology? From LA to Beijing, people all over the world are trying to get their hands on the newest thing. Recently, that thing is mobile payment. Mobile payment is the payment service that you can perform right from your phone. This means that you no longer have to struggle with cash, checks, credit cards, debit cards, etc. Instead, you can do everything directly from your mobile device. According to USB Payment Processing, mobile payment has an easy setup and implementation. Imagine a world where you can leave your house without carrying cash or even a card. Crazy right?

equipmentall3 So what’s the cause of this current boom? According to Michael Della Penna, senior vice president of emerging channels at Responsys, Inc., certain indicators that made this processing capable have become crucial aspects of business’ ability to continue to act competitively.

In previous years, analysts have claimed a revolution in the mobile payment industry. However, that was not the case. Experts have begun to explain why this time is different and how this market will surpass all other types of payment.

It is believed that mobile payment has not even begun to show its full capabilities yet. Many experts along with Della believe that the year for mobile payment is 2013. The developments seen this far are smaller figures then analysts hoped to see. But, by mobile payment usage exploding it creates a different experience between consumers and brands. This type of payment makes things more comprehensive for you as a customer. USB offers application downloads to get you started using mobile payments as early as today. USB also shows you the online solution to using POS Systems.

This technology is not an idea of the future, it is happening now. However, as of now the process has not run as smoothly as it is laid out. The industry still must work much harder to create such a simple experience for consumers. The basic skills are being used today and further perfection is being developed. The industry sees big rewards waiting for them within the next year.

Several businesses have listed improving their mobile payment opportunities as a priority by the close of 2013. With more and more businesses moving their operations online, the need for fast, reliable and secure credit card processing options continues to grow. USB Payment Processing has the in-depth knowledge and specialized expertise to meet those transaction processing needs. the market that already exists continues to grow, Penna believes in order for the mobile credit card processing revolution to become a reality, the infrastructure to support this market must grow with it.

Obviously, the technology will only be compatible with smart phones. Pew Research Center’s Internet & American Life Project proved that 91% of Americans own cell phones as of 2013. According to ABC News, 61% of those Americans own a smart phone. This information is great for mobile payments researchers; they hope the number grows by the beginning of 2014 to keep the market expanding. Penna mentioned that by the end of this year over 80 phones would be qualified for this programming.

USB Payment Processing discusses a handful of mobile payments benefits. For example, the fact that Internet Processing Services are available around the clock is a huge benefit to people who use mobile payments. Also, by using mobile payment you can make unlimited transactions from nearly anywhere in the world.

For more information feel free to contact us at 410 828 4286.

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5 Responses to The Explosion of Mobile Payment

  1. Pingback: The Explosion of Mobile Payment | Kenneth Carnesi

  2. jari65 says:

    Reblogged this on Jari65 Blog.

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