Payment Industry News: Mobile Payments And The Future

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Payment Industry News

The regularity of smartphones with payment apps ensures merchants need up-to-date software that accepts all payments.

Phone payments include using pay apps at the register as well as buying through browsers on the web. Merchants should expect an uptick in both types of buying from consumers. They need up t0 date software that keeps pace with the various phone pay offerings.

Payment industry news and effects on merchants:

Another year, another mobile payment system launch is added to the mix. Amazon and Wal-mart both added payment platforms in 2016 for smartphone use. Apple, Samsung, Android and so many others have already forced merchants to re-think their CRM software to allow for flexibility in payments.

Shake Shack and new order app:

So far companies that offer order apps for phones tend to be restaurants or fast food chains. The convenience of having food ready for pickup has forced companies to come up with ways to integrate online orders.

Cash buying down/digital buying up.

Consumer awareness of mobile wallets goes up every year even as traditional credit cards and cash lead the pack. Payments will undoubtedly increase for both smartphone apps like Apple Pay as well as online shopping orders through browsers.

Emerging Markets and phone payments:

In a lot of ways the growth in markets like Turkey and Romania will see the biggest jump. Smartphones have allowed citizens of countries with little history of consumer lending to buy, sell and order products like never before.


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