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Only a matter of time before mass mobile payment adoption?

January 16, 2013

Mobile payments are truly starting to take hold nationwide.

Some industry experts believe that the more payment options a retailer offers, the more marketable the brand will be to a wide variety of consumers. While some individuals prefer to pay only by cash, many others are looking into new technologies like online credit card processing and electronic readers at the register to optimize payments.

Mobile payments are truly starting to take hold nationwide. Many people are downloading applications on their smartphones that allow a credit card to be linked and transactions to be completed when the devices are swiped over a reader. Many corporations are enabling this sort of payment, as the technology has been nearly perfected.

Bank Systems and Technology reported that the only obstacle still standing is security, mostly on the part of consumers. Should people take a more proactive stance in password protecting their devices and encrypting data, this might be more of a reality in the near future.

However, Forbes also explained that merchants need to keep an open mind and offer multiple ways to complete a transaction. The magazine said that retailers have to use their intuition, analysis skills and creativity when deciding what options to offer their customers, noting that there are a number of different mobile wallet options available.

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