How a mobile payment service can grow your online business

January 30, 2013

With more than 123 million smartphone users in the United States alone (as of November 2012, according to comScore), and shopping via mobile devices growing by double digits, being able to accept credit cards via a mobile device sounds like a no-brainer. But how does it actually improve your business? To find out, CIO.com queried mobile payment solution providers Square, PayAnywhere, PayPal and Bank of America about security, fees and which type of business stands to benefit most from deploying a mobile payment solution. CIO: What type of business should consider using a mobile payment solution (i.e., card readers for smartphones and tablets)? Put another way, what type of business stands to benefit most from using mobile payments? Tracy Metzger, CIO, PayAnywhere: Any business that performs a service or sells a good to people in locations other than retail stores should seriously look at mobile point of sale (mPOS) technologies like mobile credit card readers. mPOS technologies bring the cash register directly to the location where commerce needs to be transacted so that a transaction can be conveniently completed where the customer is, and not handled later in a back office. To read this article in full or to leave a comment, please click here

Link: http://www.cio.com/article/727238/How_a_Mobile_Payment_Service_Can_Grow_Your_Online_Business