Top Trends In Mobile Payment: Part 1
By Karen Cox, Vice President, Payments & Retail Solutions, Moneris
It was only eight years ago that Apple changed the mobile industry with the launch of the first iPhone. Today there is a second mobile revolution upon this, and this time, it’s a revolution of mobile commerce. An ever increasing reliance on tablets and phones is rapidly changing the technology behind how we manage both our lives and business.
Accepting payments at a place of business should be as easy as using your favorite apps. Mobile is no longer just an interesting area for innovation — it is the most disruptive force in payments today with tremendous potential to change the way we do business. Opportunity exists to not only solve for seamlessly accepting payment, but for integrating payments with business apps running on a single device. Let’s take a look at some recent trends in the world of mobile payments.
The term “mobile payments” is used interchangeably to refer to consumers using their mobile devices to make a payment (replacing the traditional plastic credit card), or to refer to merchants who use their mobile device to accept a payment (replacing the traditional point-of-sale terminal). Both sides of this equation are part of the current disruption.
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