Competing against larger, cash-rich organizations forces many small businesses to get creative. However, it’s now believed these organizations don’t have to look much further than mobile payments to be successful.
Mobile Payments Today recently reported that small business payment processor Electronic Commerce International (ECI) is urging smaller companies to look into mobile money initiatives. “For our small business merchants, getting a mobile payment system in your storefront is going to be crucial to be able to continue to compete,” ECI CEO Jim Anderson said, according to the news provider. He added that 20 percent of holiday season sales were made through a mobile device, providing small companies with a major opportunity to grow sales and revenue.
Yankee Group Associate Analyst Jordan McKee comments
“Offering customers a mobile point of sale (mPoS) should be somewhat of a no-brainer for small businesses. The mPoS market is flooded with vendors that specifically target small to mid-sized companies, providing them with the opportunity to better serve their clientele. Merchants with an mPoS have the opportunity to offer increased customer service, given that employees are no longer stuck behind the register. The potential to assist customers anywhere in the store and take the subsequent payment on the spot is a value-add that is difficult to overlook.
Today, mPoS is quickly becoming less of a niche offering and more of the norm. As mobile rapidly evolves into a mainstream form of payment, companies that integrated mobile money initiatives early on will remain ahead of the curve.”
More like 'Can Mobile Payments Spur Growth for Small Businesses?'
Payleven Increases Security With FSA Authorization by Jordan McKee - Mar 27, 2013
Square, Angie’s List Work Together on SMB Payment Platform by Jordan McKee - Jan 31, 2013
Breadcrumb Updates Mobile Point of Sale Platform by Jordan McKee - Dec 28, 2012
News | May 24, 2013