Businesses are moving more toward a mobile mindset for their
\norganizations and away from the traditional model. We are seeing this
\nspecifically when it comes to payments. Traditional payment processing systems
\nrequire significant set up costs, installation and maintenance of expensive
\npayment terminals (cash registers), limitations on the store layout, and a heavy
\nreliance on third party providers to manage the system. Whereas mobile payment systems
\nallow businesses to accept payments using cloud based systems, operated on
\nmobile phones or tablets.<\/p>\n
The first mobile payment systems started appearing in the
Mobile payment systems meet every requirement of payment
Consumers can use mobile payment applications to send and
Mobile
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\n2000s, opening up the market to new providers and technologies. Existing
\npayment providers, like PayPal<\/a>,
\ndominate the market, but the growing mobile payments industry has also provided
\na solid ground for new processing options, like Square<\/a>.<\/p>\n
\nprocessing and put the control back in the hands of the business owner – all
\nthey need is a mobile device. The set up is significantly lower than a
\ntraditional system and the style of mobile payment processing is particularly
\nwell suited for business owners such as private taxi drivers, personal
\ntrainers, tradespeople and so on. <\/p>\n
\ntransfer money. This gives them a quick and secure way to pay for goods and
\nservices without carrying cards or cash. Smartphone ownership is on the rise
\nwith consumers, which means they are using smartphones and tablets to access
\nfinancial information and make payments. With this in mind, its very important
\nto make sure your mobile payment systems have the most secure fraud prevention
\nsolution<\/a> available. Fraud risks can greatly increase with the transition
\ntaking your business mobile.<\/p>\n
\npayment solutions<\/a> are an evolving technology that holds massive p<\/a>otential for smaller businesses. Right now, its a race to
\nsee who can develop the most efficient, effective, and secure platform one
\nwhich gives businesses and consumers exactly what they want in terms of
\nsecurity, convenience and growth potential. <\/p>\n