Era of the smart device? Why mobile payments will stay strong
June 17, 2013

Smartphones and tablets offer numerous opportunities for businesses. Small- and medium-sized enterprises that utilize integrated payment systems to accept mobile credit card payments already understand the benefits of using portable devices at the point of sale. However, mobile gadgets provide many more advantages for SMEs and may in fact take over as the technology of choice for businesses. 

On-the-go gadgets may be the future 
According to Business Solutions magazine, consumers continue to seek ways to make the shopping experience more enjoyable and SMEs that invest in mobile payments early are set to see sales and customer satisfaction increase before those that do not. Business Solutions reported alternative payment processing systems, such as a mobile POS and smart-chip enabled cards, are set in the digital environment. Many SMEs take advantage of the opportunity to keep track of finances, monitor transaction histories and market the business on-the-go.

According to Tuaw, a technology blog, businesses and consumers are moving away from desktop computers and instead choose mobile devices because of their portability and affordability, as well as the growing number of wireless Internet networks. Tuaw suggested the future of technology is mobile and stated that if the last two years are any indication, portable devices will see extreme growth in the next five. Mobile gadget potential seems to be infinite, and SMEs would do well to take advantage of the trend  by implementing a mobile POS.

Due to the increasing adoption of portable technology among retailers and customers, Business Solutions called the current payment environment the "Smart Device Era."

Advancements in mobile devices 
As more technology companies come out with new tablet devices and smartphones continue to drop in price, SMEs should be prepared to see mobile payments increase in demand among consumers. Tuaw reported technological hardware will soon transition from PCs to portable devices. While mobile gadgets may not completely do away with the traditional desktop, the benefits of portable devices will lead the majority of consumers to migrate toward smartphones and tablets.

Time magazine stated tablets have seen a rapid adoption rate and are set to be in widespread use in the near future. While it took seven years for 50 million smartphones to penetrate the U.S. market, it only took two years for tablets to reach the same numbers.

With more SMEs and consumers investing in tablets and smartphones at the POS, businesses should adopt mobile payments. The era of the smart device is here, and not integrating a mobile POS into purchasing platforms will be a mistake for SMEs. 

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