American consumers lead the transition to mobile
May 23, 2013

Accepting debit and credit cards has gotten easier for companies over the years, and mobile payments is set to be an essential aspect of the future marketplace. Consumers and businesses alike are utilizing handheld devices more than ever before, and new research found U.S. consumers are leading the shift to a mobile mindset. While integrated payment systems are on the rise around the world, the U.S. is at the forefront of mobile credit card payment adoption.

Mobile payments to increase
The European Mobile Mind Shift Index by Forrester, a research and analysis company, found that while Europeans own the most portable devices, Americans are more connected with each other through their mobile gadgets. The sole European country higher than the U.S. on the index scale was Sweden. 

The report examined how Europeans and Americans differ in three ways: the number of mobile devices, how often consumers utilize their handheld gadgets and where individuals physically use their portable devices to connect with others. The index then segmented consumers into six categories of mobile use and produced an average for each country based on a 100-point scale. 

Americans were found to put a higher value on their portable devices than their European counterparts in addition to using these gadgets more frequently in more locations. As a result, the U.S. is leading the globe in shifting to a mobile mindset, which is defined as a positive attitude toward portable gadgets. The study found 22 percent of Americans have transitioned to a mobile mindset, compared to only 16 percent of Europeans.

However, Forrester projected Europeans may catch up within the next six months as mobile service providers enhance their data plans. Forrester stated Europeans currently do not have the same level of mobile data and internet access as Americans but may soon.

As the global community shifts toward a mobile future, it will be important for companies to start accepting mobile debit and credit card payments at the point of sale. Consumers are set to increase their portable device use and small- and medium-sized businesses can provide additional purchasing options by allowing customers to employ their smartphone or tablet to pay for goods or services. While Europeans are still lagging behind the U.S. in terms of mobile adoption, American companies can get on board with the purchasing option right away. 

Nexus: G-WEBCD2