Mobile payment options encouraged among retailers
January 13, 2015

Retail continues to change every day. Consumers demand innovative service and enjoy having many options available. Mobility and a dependence on smartphones and tablets has increased greatly over the last few years. Experian Marketing Service released a report indicating that the average U.S. citizen uses his or her smartphone 58 minutes each day. Americans appreciate mobility in their lives, and adhering to that demand is important for small businesses everywhere.

Smartphones within the mobile market forecast to grow
Mobile Payments Today noted in a press release that the prevalence and importance of utilizing the smartphone cannot be ignored. The Groupe Speciale Mobile Association, GSMA, conducted a study that found smartphones would contribute toward two-thirds of the mobile market on a global basis.

"The smartphone has sparked a wave of global innovation that has brought new services to millions and efficiencies to businesses of every type," said GSMA's Chief Strategy Officer, Hyunmi Yang." As the study released today shows, smartphones will be the driving force of mobile industry growth over the next six years, with 1 billion new smartphone connections expected over the next 18 months alone."

Yang continued to state that this technology drives the evolving face of lifestyles and developing markets. The decreasing price of smartphones and increasing availability of 4G-LTE smartphones mean these devices are becoming more accessible to many individuals.

Retailers realizing the benefits of mobile POS technology
Mobile point-of-sale options increase the amount of traffic and purchases made in stores. PaymentsSource noted many retailers have capitalized on the fact that technological advancements, like mobile payment options, allow merchants to cut expenses, increase revenue and allow for more productivity.

Armed with the ability to accept mobile payments, employees are not chained to a stationary POS. They are able to help customers, take inventory and execute tasks throughout the entire store without sacrificing the ability to accept payments from customers for merchandise.

In addition, training employees how to utilize a mobile POS does not take as much time. Smartphones and tablets have become an integral part of our lives as a society. Familiarity with the devices used in conjunction with a mobile POS helps cut down time spent educating employees.

Merchant Warehouse noted the neat and clean nature of using a mobile payment option instead of a bulky POS that remains stationary. The simplicity of mobile payment processing can also portray an organized and tasteful image.

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