Investments in payment integration have long-term payoffs
October 16, 2013

Mobile credit card processing technology is quickly making a name for itself in today's business world, which means integrated payment systems are now more important than ever before.

A new report from BI Intelligence, a division of the news website Business Insider, found a substantial portion of credit card transactions are taking place over mobile devices. Whether through attachable card readers, applications or standard credit card machines, small and medium-sized enterprises are adopting these tools at a rapid pace. In 2013, BI Intelligence estimates mobile payments will constitute roughly 4 percent of the total volume of credit and debit transactions worldwide. While those numbers may seem small in comparison to the 86 percent of card payments that aren't processed through smartphones and tablets, the number of mobile transactions has actually increased 118 percent annually for the last five consecutive years.

According to Mozy, a company that provides data backup for businesses, the current state of the U.S. economy presents a prime time to start investing in payment integration services that make it easier to manage backroom financial processes. In fact, Dan Wager, founder and chief executive of the Web commerce business Powa, told the source long-term investments in advanced technology enable companies of all sizes to effectively track and organize transaction information from multiple channels.

Nexus: G-WEBCD1