Social Media Gives Insight to Mobile Payment Processing Trend
According to the second annual MasterCard Mobile Payments study, there have been roughly 13 million conversations about mobile payments on social media sites like Facebook, Twitter, and the blogosphere. Virtual terminal credit cards and similar mobile payments carry an 88% positive rating amongst business owners and merchants across the web, with the predominant attitude being that businesses that don’t accept mobile payments are going to find themselves at a distinct disadvantage in the not-too-distant future.
The results reflect a staggering amount of interest in mobile payments not just from business owners, but from consumers as well. Interestingly, the vast majority (90%) of these conversations were initiated and driven by business owners who have already implemented virtual terminal credit cards or other forms of mobile payments answering questions from smaller and newer businesses seeking advice about what they should adopt in the marketplace.
These conversations are indicative not just of a trend or new fad—they are the beginning of a new movement. The patterns of behavior when making purchases are shifting and evolving, and it’s becoming necessary for merchants to be able to accept payments on the go. E-payments, mobile credit card readers, and similar options are cost-effective and easy to use, and don’t tie merchants down to a single location as did the bulky systems of the past.
It’s only natural that this new movement would have begun, and will continue to be reflected, via social media, which is the new language of communication in the modern era. With the ability to transform a basic mobile device like a smartphone, tablet, or laptop computer into a high-powered, portable and secure virtual terminal, credit cards and debit cards are likewise becoming the currency of choice in the modern era. Nobody is asking anymore if using a mobile processing solution is a good idea. Rather, they’re taking to social media sites to ask how they can adopt this technology, and what it can do for their business.