Smartphone adoption suggest value in mobile credit card processing tools
October 14, 2013

Recent consumer data regarding the adoption of smartphone and tablet devices in recent years suggests that businesses may experience unique benefits from investing in mobile credit card processing technology.

According to WebProNews, a technology industry website, the market for mobile devices in the U.S. is now six years old. In that time, advancements in smartphone technology have changed the way businesses interact with their customers.

For instance, the last couple of years have seen some of the fastest growth rates in mobile adoption among U.S. consumers. According to data compiled by eMarketer, 2011 saw a nearly 50 percent increase in the number of smartphone owners in the nation. The next year saw a 30.8 percent increase. Industry experts have forecasted continued growth through through 2017, as well.

A report recently released by Frank N. Magid Associates, a business consulting agency, found smartphone adoption continued to increase at an especially rapid pace this year. In fact, 74 percent of mobile phone users reported they now own a smartphone, as opposed to only 58 percent during the same time last year.

The recent trends have substantial implications for the private business world. The ability to accept mobile payments places organizations in many industries in a unique position to generate long-term revenue in an increasingly competitive economy. Not only can stores utilize advanced technology on their own to offer a streamlined point-of-sale experience, but they can also enhance their e-commerce channels to allow customers to purchase goods without even leaving their own homes. As a result, businesses can reap the benefits of incorporating new revenue channels that increase overall competitiveness. They will also be able to ensure maximum levels of customer satisfaction, no matter what shoppers' preferred payment method is.

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