For the last few years, more and more people have increasingly become comfortable with mobile payments idea. Talk of the ease, convenience and availability that comes with this trend and you will understand why more people and businesses are shifting to this niche. Below are some of the predictions made for mobile payments this year:
More business acceptability
Both small and big enterprises are now ready to accept innovation in payments. You will see more and more businesses recognizing the many benefits of mobile payments and even welcoming them as a way to help them take control of the market and encourage customers to come back for more. And because businesses know that they will experience faster transaction processes, they cannot wait any longer to build customer loyalty and even increase sales.
Greater consumer acceptance
Customers will embrace the hassle-free payments and purchases as a way to enhance their day to day shopping experiences. And because about eighty five percent of the world’s population has a mobile, you can only expect to see more people using their phones to make payments. In fact, soon, this will be the norm as people want to adopt this convenience. And as the trend grows, customers will be comfortable with using and also recommending mobile payment solutions.
The growth of contactless payments
Because the near-field-communication technology is also growing, it will make purchasing and making payments as easy as tapping a phone. And the relevant amount will therefore be deducted safely and quickly without other unnecessary transfers of confidential information. This is the way to drive global commerce and also usher in a new trend and era of payments!
24 hour flexibility
Today, more and more shoppers are moving online, and that is why mobile payment solutions give that added incentive to customers so that they can enjoy more flexibility across the globe and around the clock. A customer can purchase items and pay while away on vacation or on their daily commute, at any time. And because more people across the world have mobile phones, mobile payments will give a boost to the already immense online market place.
Another prediction is that more and more users will also feel comfortable using more secure and safer technologies such as Apple Pay and Virtual Merchant Mobile among significant other technologies. And a good thing about these technologies is that they are PIN protected, so one is safe in case of loss. Also, there is no need for sharing any of your confidential information.
More value added
Mobile network operators and mobile phones are seeing tremendous growth across the world. So, the mobile network operators will see these payments as one of the ways to provide greater value to their consumers and also as an added benefit for the consumers to sign up with their networks. Imagine how greater consumer engagement will be and how more chances of usage will be like when these massive networks are involved! And there will be prompt payments as well. The mobile network operators will also want to see this benefiting many businesses worldwide.