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More Businesses Willing to Participate in Mobile Payments Revolution

June 18, 2017

One of the big criticisms of the expected widespread adoption of mobile payments nationwide has, to this point, been that consumers haven't been incentivized to get onboard.

One of the big criticisms of the expected widespread adoption of mobile payments nationwide is that consumers haven’t been incentivized to get onboard. Relatively few merchants accept this kind of transaction, even now, and even fewer actively advertise the capability when they have it. Moreover, though experts have long said it may be incumbent upon developers and businesses to reward consumers for mobile adoption, that trend is really only now starting to pick up steam.

When adopting mobile payments capabilities, or even EMV, businesses of all shapes and sizes should strive to follow industry-recommended best practices to ensure the transition goes as smoothly as possible.

There are many ways businesses can begin to utilize mobile platforms on a regular basis, but where some restaurants have started is by having loyalty app programs. Whether it’s McDonald’s, Domino’s or Starbucks, many of the biggest restaurant chains in the country give their users a little something extra for being regular customers, and at the same time familiarizing them with how they can use their devices to make payments or facilitate transactions on a daily basis.

Mobile payments are picking up steam, but businesses can nudge consumers along.Mobile payments are picking up steam, but businesses can nudge consumers along in a number of ways.

Developers Moving in a Similar Direction
Meanwhile, in an effort to push a growing number of smartphone users toward mobile payments, Google recently announced plans to broaden the potential user base for its Android Pay platform by allowing anyone with a Google account to send money via its Google Assistant feature, according to a report from PPP Focus. This could potentially allow people with existing Google accounts to merge those with mobile payments.

While this will mostly work via online portals, it’s just another way in which companies are trying to get more people to think of their smartphones as a means through which they can conduct commerce, both by sending and receiving money. Moreover, using these platforms require users to attach bank accounts or cards to their Google accounts, further easing the transition.

More Retailers Getting Onboard
Even with some still lamenting the slow adoption process among consumers, it seems that merchants are starting to come around to the possibilities mobile payments provide, according to Payments Source. While shoppers still largely hold concerns about security and ease of use, individually, merchants should have no such concerns on their end because those that have already adopted mobile typically see benefits first and foremost. Experts often point out that whenever consumers’ worries about mobile adoption are assuaged through familiarity and education from merchants and developers, they become far more likely to use the platforms on a regular basis.

With this in mind, when merchants are thinking about mobile adoption, it might be wise to also highlight the “how” and “why” of what makes these platforms so beneficial for all involved in the payments ecosystem, and using incentives to get consumers to try it initially will typically result in long-lasting use. 

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