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Gartner predicts the number of accept mobile payments customers worldwide will hit 73.four million by 2009 and 190 million by 2012. This represents a tremendous percentage of total mobile phone users (Gartner estimates upwards of 3% of your total user base) and corporations have to contemplate this technology as a potential payment channel comparable with checks, cash and electronic funds transfers. Retailers Very first Adopters of Mobile Payments The advantages of mobile payment solutions for retailers are obvious. The potential to accept credit card payments or mobile payments on a wireless device including a smartphone enables retailers to create a host of new, innovative and engaging retail platforms. "Pop-Up Retail," a term coined by Trendwatching.com, can be a temporary retail space created to speedily draw in crowds in high site visitors areas then disappear when buzz wanes. Think fairs, concerts as well as other outdoor venues with massive crowd attendance. Simply because these events have limited time durations the expense of developing a permanent retail space (as well as the infrastructure to support it like telephone and online lines) is prohibitive.
But do not write-off these sales just yet - mobile payment systems bridge the gap. Together with the swipe of a credit card down the side of a payment-enabled iPhone or Blackberry gives you instant access towards the very same payment processors you already use - returning an instant payment authorization and integrating with accounting systems afterward to keep track of it all.
Future uses of mobile payments will extend beyond point of sale activity at events to offering beneficial payment tools for in-field staff for example carpet cleaners, repairmen, plumbers, etc. hoping to decrease the time in between invoice and receipt of funds. Businesses generating home calls to go over a customer's outstanding invoices will probably be in a position to capture a payment immediately - offering the client an selection to prevent instant disconnection of services. Business-to-Business Firms Early to Late Majority It really is correct that numerous industries accept mobile payments mobile information solutions for business-to-business customers, but most have focused on account and inventory information retrieval, logistics and routing solutions, and signature capture for goods delivered. Within the future, corporations will move away from invoicing prospects then waiting 30+ days for payment and will instead opt for mobile payment systems the consumer uses at time of service or delivery to make payment. B2B corporations will represent the Early to Late Majority adopters of this technology but its impact will be significant. The price of managing receivables could be substantially lowered leveraging mobile payment solutions.
In Summary - Brainstorm on how Mobile Payments can Influence Your Enterprise
The multitude of killer applications obtainable at this time on our web-enabled cell phones, smartphones and other related devices would have been unheard of just four years ago - thus, brainstorm for the future. You as well as your executive leadership really should engage subject matter specialists, each inside and outside the company, to figure out how mobile payments are likely to influence your company model within the short and long term. Map out the impacts and begin creating a technique to ensure you might be proactively capturing the value mobile payment systems provide as an alternative to reactively wanting to catch up together with your competition. Dataquest Insight: Mobile Payment, 2007-2012 Kelly Brief is an professional inside the technologies, organization method automation and advertising disciplines. He shares over 15 years worth of encounter everyday at kellyrshort.com helping small and medium organizations with actionable suggestions on escalating sales with strong advertising and marketing, lowering operating expenses making use of small business process management, and leveraging unified technology to crush competition accept mobile payments.
