Mobile pay has been making headlines and market gains this holiday season. Retailers like Starbucks have adopted mobile payment systems at many locations and products like Square, PayPal and Google Wallet have changed the way online and storefront retailers conduct transactions. Although it’s unlikely that credit card terminals or cash registers will be going the way of the VCR anytime soon, mobile payments are likely to become more common.
Shoppers are now able to buy nearly anything with the assistance of smartphone apps, but CNN reports one surprising big-ticket mobile purchase – a $48,000 bulldozer. Small businesses may be turning to mobile payments to better organize transactions, which reveals a high reliance on smartphones as central business tools. Retailers can benefit from accepting mobile credit card processing, as according to CNN diamond jewelry, antique coins and a painting by Nechita Alexandra, the important Romanian Cubist.
Although these items might be outside the budget of the typical consumer, the increased attention mobile payments have received promises continued growth as consumer demand for simplicity and reliance on smartphones rises. Retailers can take advantage of this consumer trend by considering the return on investment of digital payment terminals.Back To Blog