There has already been plenty of buzz around mobile payments this year, and with the introduction of Apple Pay and Samsung Pay, in-store mPOS is set to explode. Unlike the abundance of other reports on mobile, Payvision’s latest paper The Mobile Payments Revolution – How to be Ready for the Tipping Point takes a holistic, 360 degrees approach, providing a full spectrum of mobile payments information.
The report begins with a brief history on the emergence and growth of mobile payments, setting the stage for understanding the current usage and trends across the globe, including thorough country specific data. The paper also demystifies the crowded, fragmented mobile landscape, looking forward to the pivotal role of mobile payments in the near future, as well as what to do next, offering actionable, mobile-ready steps for merchants.
A ‘mobile device’ will soon refer to any number of objects; watch, a toothbrush, shoes or a pair of glasses. In turn, mobile payments are evolving as a branch of the Internet of Things ecosystem. In developed nations, where consumers are more complacent, mobile payments have three basic prerequisites to see widespread adoption; superior, rewarding and meaningful experiences, high levels of security to procure trust, and supreme omnichannelling to make the consumer journey effortless. So far, the formula has been missing some key ingredients.
Across the globe, the value of mobile commerce has been forecast to top USD 500 billion by 2017, with Asia accounting for half the market. For smaller and medium-sized merchants, with potentially limited upfront capital, to risk investing their resources on their own mobile solutions would be almost impossible. Yet to jump on the trend, merchants can partner with a payment provider such as Payvision, to set them up with a fully integrated cross-border ecommerce solution. There are very few independent mobile payment processors who can offer merchants both the new technologies of the start-ups, and the trust, intelligence and full omnichannel solutions of the established businesses. By entering a partnership, complexities are lowered, and merchants can focus on their core business.
The Mobile Payments Revolution Report is the definitive guide for merchants to understand why mobile Internet is finally changing the payments landscape, and most importantly, how to capitalize on it. Download your free copy of the white paper The Mobile Payments Revolution.
Read more Top 3 Global Challenges in Mobile Payments in 2015 and don’t forget to download The 1st eLearning Mobile App in the Payments Industry.