16% of small firms set to adopt mobile payments

5 November 2013

The rise of mobile payments is increasing at a pace at the moment and new research from EMS+ has indicated that more small firms are planning to offer the service to customers.

According to the company's The Ultimate Guide To Mobile Credit Card Processing report, 40 per cent of small to medium-sized enterprises (SMEs) now accept payments with mobile credit card readers.

A further 16 per cent of SMEs plan to adopt mobile payment devices within their businesses in the next 12 months.

This is of particular value to the restaurant trade, as 81 per cent of the money spent at these outlets in the US in 2012 was through debit, credit or prepaid cards.

Retailers adopting mobile payments will also be accessing the vast sum of money spent on credit cards in the US in 2012, as the purchase volume was discovered to be $2.9 billion.

With 66 per cent of all point-of-sales (POS) transactions completed with a card it is important retailers consider utilising mobile payments where feasible.

By Tony Aynsley