Right now, mobile payments account for $50 billion in sales, compared to $2.7 trillion for credit card payments - However, projections by payment processor Worldpay indicate that by 2019 the situation will have reversed.
With so many competing mobile payment options, many businesses are weighing the same decision and trying to decide where to place their bets – so we’ve taken a snapshot of what you need to know about the different mobile payment options as they evolve:
Adaption to and implementation of mobile point of sale (MPOS) systems is on the rise. MPOS sales are forecasted to be growing 380% between 2013 and 2017, with it being predicted that by 2019 mobile systems will account for 46% of the overall POS sector.
And this growth is spurred with good cause. Integration of the MPOS system with back-end merchandise, inventory and CRM systems arm sales associates with the capabilities and information they need to drive sales and improve customer service.
It’s time to re-think, re-conceptualize and re-launch your coupon program.
Coupons aren’t about paper cut-outs from flyers anymore. They’ve gone digital and social, with measurable results and important customer data attached.
In fact a recent study revealed that 73% of American women have printed out a coupon from a website and 53% of consumers have used discount deals sites like Groupon and LivingSocial. Coupons in general are still very popular one study reporting that 93% of Americans use coupons and spend on average of 2 hours a week looking for deals online.