Study finds majority of SMBs are set to utilize mobile payments
May 13, 2013

The use of mobile technology among small- and medium-sized enterprises is on the rise. Advancements in technology and increased awareness of the benefits of employing portable devices has led companies to adopt the mobile platform. According to new data, mobile optimization of websites and marketing are driving mobile payments at the point of sale. Purchasing products through a mobile device are set to continue gaining influence among SMBs that utilize portable technology.

The majority of SMBs employ mobile devices
A new survey by Constant Contact, a SMB marketing resource, found 66 percent of small companies use mobile gadgets, such as smartphones and tablets. The survey polled 1,305 SMB members of its small business council during March 2013.

Mobile payments are growing more prevalent within this group, with 18 percent saying they use their portable devices at the point of sale to allow customers to quickly and securely purchase products. Thirty-four percent said they do not use mobile solutions, but as the technology advances, those small businesses may start utilizing portable platforms. About 53 percent said their customers have expressed interest in mobile payment solutions. Roughly 36 percent of companies said they would like to implement purchasing platforms.

Although SMBs use mobile technology mostly for marketing initiatives, such as social media and email, mobile payments are quickly gaining speed.

Joel Hughes, senior vice president of strategy and corporate development at Constant Contact, said the adoption of accessible technology in store among SMBs may change the retail industry.

"It's encouraging that a majority of small businesses recognize that their customers are relying more than ever on their mobile devices to find information, look for deals, and even to make purchases," Hughes said.

The survey also found 44 percent of companies use mobile apps to manage accounting and invoicing.

With the rising popularity of portable devices in business, purchasing goods utilizing the platform will continue to increase. According to the study, SMBs are starting to transfer their financial information and purchasing software onto smartphones and tablets, which allows companies to access their invoices and transaction data while away from the store. Mobile payment solutions offer both companies and consumers a secure method of checking out at the point of sale. Investing in the purchasing platform can grant SMBs the ability to take their business on the road or take their business throughout the store, creating a new retail environment.

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