With or without Apple, NFC mobile payment market to hit $100 billion
A number of industry watchers have voiced concerns that touchless mobile payment solutions will not truly find widespread adoption until Apple joins the fray and adds the functionality to its popular iPhone line of smartphones. While Apple has yet to give any indication that its smartphones will support NFC-based mobile payments in the future, one firm is confident that the market will soon take off like a rocket.
In a report issued on Friday, market research firm ABI Research predicted that dollars spent using NFC mobile payment systems will break the $100 billion mark in 2016. Payments made using the touchless technology payment tech will total just $4 billion in 2012 according to the firm, but will balloon to $191 billion annually in 2017.
Go Mobile or Go Home
According to eMarketer, more than 96 percent of the U.S. population is expected to own a mobile phone by 2013 and the gap between web-enabled mobile and wired Internet users is likely to narrow significantly in the coming years.
Benefits of Going Mobile. As PMPs, it is essential to make your brand visible to your current and potential consumers wherever they are — and nowadays, they are on mobile devices. By creating a mobile-friendly website for your firm, you can connect with customers and ultimately increase revenue. Here are a few other reasons to go mobile with a company website:
Multiple Uses: Mobile devices have revolutionized the way consumers shop. Although most consumers are not yet making purchases with their smartphones, mobile devices are impacting purchase decisions. Many mobile users are using their phones to research products, compare prices, look for unbeatable deals, read reviews and find locations.
Better Search Results: Mobile searching has become one of the fastest-growing online resources. With computers essentially accessible from jean pockets, it has never been easier for consumers to search for what they want. It also has never been easier for your business to be found by potential customers via popular search engines such as Google, Bing and Yahoo! on a mobile device. In the future, these search engines may begin to rank websites by their vast platform options, so if your company does not have a mobile-friendly site, it will appear lower in search results.
Quick Speed: Mobile websites are designed for optimal speed, which means consumers don’t have to wait for pages to download and they can spend more time browsing. However, if your website is slow to load on a mobile device, users will move onto another site that is faster. According to GoMo, 60 percent of users expect a mobile site to load in three seconds or less.
Local Engagement: A mobile website allows you to engage users with features such as mapping functions and directories that provide general information on your company’s location, contact information and address. Furthermore, visitors can find your website through location-based technology that tracks their geographic proximity to your business. WFM
Square announced Wednesday that its mobile payments service is now available to anyone in Canada. This marks the first time Square has expanded its service beyond the United States.
Retailers and individuals in Canada will now be able to process transactions using Square’s free mobile card reader on their iOS and Android devices for a transaction rate of 2.75% — the same rate Square offers in the U.S.