Tag: mobile commerce

This trend is allowing smaller firms to accept credit card transactions in a more affordable way.

Owners of small businesses across the United States are discovering the opportunity that their tablets and smartphones are offering in terms of mobile payments that allow them to accept transactions from customer credit cards without renting expensive machines.

This has become a powerful new tool for smaller sized businesses to be able to process transactions.

The trend is not only common among small business owners who are setting up the option at the point of sale in an actual storefront, but others as well. There are many small firms that don’t have an actual shop, but that sell at trade shows, farmers markets, or that simply travel to meet their customers in various locations. These people are greatly benefiting from being able to turn their smartphones and tablets into a credit card scanner that they can use for mobile payments.

Mobile payments allow these entrepreneurs to be able to accept transactions no matter where they are.

As there are a growing number of mobile payments options available, these business owners have a choice and can make the selection that is best for them. Among the strongest players at the moment are PayPal Here, GoPayment, Square, and Intuit.

Often, they involve the use of a small device (sometimes called a dongle), which is typically provided for free and that plugs into the audio jack of the smartphone or tablet. This allows credit cards to be swiped so that the mobile payments transaction can be processed. Though the appeal for these services did start with individuals selling at farmers markets and other similar locations, it is starting to work its way into traditional point of sale locations on an increasing basis.

This is because it allows the small business owner to be able to accept credit cards without having to deal with a bank, and it provides a number of options that are more affordable and convenient than those that are otherwise available. Mobile payments also often come with a number of different types of loyalty tools, and the fees for accepting the transactions are generally lower than the usual form of credit card purchase.

Mobile payments coming to fast-food sector

Fast-food chain Wendy’s has announced the launch of a pilot project that introduces a mobile payments option into its mobile application. This project is designed for a limited market and will be used to gauge the interest that consumers have in mobile commerce. Those with the mobile application associated with the pilot project will be able to participate in mobile commerce in three markets: Texas, New Mexico, and Oregon. Wendy’s future in the mobile commerce sector may be determined by the performance of this pilot project.

Mobile commerce finds most traction in retail

Mobile commerce has been gaining a great deal of momentum in various industries. Thus far, the largest industry to support mobile commerce in a significant way has been the retail industry. The restaurant business has also shown strong interest in mobile commerce, but its efforts to embrace mobile consumers have often been met with modest success. Wendy’s believes that mobile payments can be popular among its customers, as long as they can be made available in an efficient and enjoyable manner.

Application acts as a mobile wallet

Those using Wendy’s mobile application for this pilot project can create a profile through the application and associate this profile with their financial information. This information is then used to load money on to the profile. Essentially, the application acts as a form of mobile wallet. The funds pumped into the app can be used to purchase products from Wendy’s for the duration of the pilot project. When a purchase is being made, the application generates a unique code that must be read to the Wendy’s employee responsible for the transaction. This is for authenticating mobile payments.

Whether consumers will embrace mobile payments is unknown

Exactly how well this mobile payments initiative will be received has yet to be seen. Wendy’s has high hopes for mobile commerce, but consumers have yet to show strong enthusiasm for mobile payments in regards to fast-food. Thus far, mobile payments have only managed to thrive in the retail sector, where mobile consumers have been able to take advantage of the convenience offered by their mobile devices.