Technology has made mobile credit card processing a reality for many people. In fact, Nasdaq.com reports that a recent survey conducted by the Carlisle & Gallagher Consulting Group found 48 percent of people are interested in mobile wallet technology, especially those between the ages of 18 and 50, and those who earn more than $50,000 per year.
However, while consumers continue to show interest in going without their wallets and traditional credit cards, industry experts say mobile technology should be used for more than just processing transactions.
The head of ecommerce development at Mastercard, Mario Shilanski, recently spoke about the future of mobile transactions at the Mobile Contactless Payments Innovations Conference in Chicago. He said that merchants should also use mobile technology to increase sales through marketing and other initiatives.
“We are focused on more than payments, we are focused on driving a revolution in shopping,” Shilanski said. “Mobile is seeing a significant increase as the way that consumers search for deals and offers.”
Still, he noted that many retailers have yet to key in on this move. Of the $47 billion offered in coupons in 2011, only 10 percent were delivered digitally.