Mobile payments predictions assessed
January 23, 2013

The mobile payments industry continues to experience widespread adoption among merchants of all sizes, and has been especially helpful for small and medium-sized businesses (SMBs) in the years following the recession. Because they are often more affordable for merchants and are becoming increasingly popular among consumers, integrated payment solutions can help SMBs compete in tough market conditions.

Forbes recently explained several predictions for the mobile payments industry in 2013, explaining that merchants will need to hone in on key trends to capitalize on consumer preferences in the new year. According to the news provider, proximity payments, or those that involve the use of a chip in a consumer's smartphone, will begin to take up a larger market share of the overall mobile transaction industry this year.

The source asserted that the merchants will need to focus on creating the most compatible process between brick-and-mortar locations and mobile or online web pages. This will lead more consumers to enter physical locations despite the growing movement toward mobile and online commerce sites. Walking this line will be crucial for businesses in the coming years.

Further, Forbes noted that the smartphone will remain king in the mobile payments industry, as more consumers will prefer to use their personal devices to carry out transactions, and a wider variety of merchants will carry out the payment processing through their own devices.The source added that smartphones will be the major platform for payments, loyalty programs and price comparisons this year.

SMBs should consider using Sage Mobile Payments for their integrated payment solutions needs, as this service is tailored to fit the needs of small merchants. The product is compatible with all major smartphones, and can ensure the most convenient experience for customers and affordable processes for merchants. 

Nexus: G-WEBCD6