Investments in payment integration prepare businesses for new trends
October 04, 2013

If recent consumer behavior trends are any indication, businesses that accept mobile credit card payments have an opportunity to increase revenue over the next several years. The use of smartphones in the business sector has become increasingly popular as technology continues to advance. However, according to a recent report from Cisco, a global networking company, interest in mobile devices isn't merely a temporary trend. In fact, its growth may have only just begun.

In its "Visual Networking Index," the company predicted there will be as many as 1.4 mobile devices for every individual consumer by 2017. By the end of this year alone, the number of smartphones, tablets and similar gadgets will exceed the number of people on the planet. A similar study from International Data Corporation, a market research firm, found the use of mobile technology will likely surpass that of wireless computers in the next few years. The report said by 2015, consumers in the U.S. will access the Internet primarily through smartphones and tablets.

These trends and forecasts could have a significant impact on the way businesses accept credit card payments. As more consumers incorporate their mobile devices into the shopping experience, they will most likely come to expect their favorite brands to adopt similar behaviors.

How exactly can companies effectively meet their clients' growing demand for convenience? The ability to accept mobile payments requires an investment in advanced technology that not only manages transaction information from multiple channels, but also ensures the safety of an individual shopper's card information through encryption. The use of integrated payment systems can make all the difference in allowing businesses to impress their clientele with the most convenient transaction processing options. As a result, these brands can benefit from higher customer retention rates and increased revenue.

Nexus: G-WEBCD5