Mobile Devices

We all know there will be a huge shift in terms of how consumers pay for transactions in the not too distant future. There are two sides of this to be ready for. One is the companies that enable the technology and the other is the company that takes the transaction. This could be retail or non profits at events.

The focus for everyone is to make a simple and great experience for the consumer.

The ways in which consumers pay online and in person are rapidly changing. Instead of searching for cash or credit cards, contactless mobile payments promise a smoother experience where we can just tap or wave our phones to make a purchase. And given that smartphones handle an increasing number of daily tasks, a mobile wallet would be a natural transition.

But mobile payment companies still have several hurdles to overcome. However, those that focus on the customer experience will ultimately reap the most benefits, according to analysts and industry experts.

via The Future of Mobile Payments.