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Mobile payment adoption can lead to reduced expenses

January 9, 2013

Companies of all sizes that allow patrons to pay using near field communications-enabled smartphones can save significant amounts of money.

There are many benefits to adopting mobile credit card processing systems. Perhaps the one that most experts are familiar with is the fact that many industry veterans believe that if consumers have more of a choice in how they pay, they will be influenced to frequent such businesses more often.

However, according to a new study by Schedulicity, companies of all sizes that allow patrons to pay using near field communications-enabled smartphones can save significant amounts of money. The report, which outlines the payment trends predicted in 2013, explained that purchases made using mobile devices rose to $86.1 billion by the start of 2012, but the techniques can still be adopted by a sizable amount of businesses.

The source said that not only can small companies experience lower costs, such as in the realm of processing and equipment over time, but if they pair the technique with competitive pricing to interest shoppers, large gains can be seen.

Drapers also added that embracing this technology can help consumers cut the time transactions take, and patrons and businesses alike can benefit from the added security features present on such platforms, like not carrying large amounts of cash on hand.

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