Mobile Payments Up, Plastic Down. Is Your Business Ready? #chartporn

The masters of both consumers and merchant’s money, INTUIT has created a broad sweeping analysis of the use of different payment methods in the marketplace. While there will continue to be much resistance to mobile payments by the generation that just learned how to play Angry Birds on their iPhone, there is some good information and takeaways from this latest #chartporn from INTUIT.

Who is going to use mobile payments?

The age group between 20 and 44 are lion share, and with more than 4% growth in the mobile payments industry every year plastic’s days are now numbered.

Where are people most likely to embrace mobile payments?

  1. Groceries at the supermarket
  2. Clothes at a retailer
  3. Phone bill at a wireless store
  4. Coffee at a coffee shop
  5. Sofa at a furniture store
  6. Taxi ride

So.. If you are in one of the 6 markets above and are looking for new customers in the 20-44 age group segment, beginning to use mobile payments before the rest of the retailers out there would be a good idea.

How can I get this implemented?

There are several ways.. On the high-side ($$$) you can build a mobile app for your business and have them use that to pay you. On the cheap ($) you can leverage the PayPal mobile merchant solution. You can call us for details of these solutions and all of them in-between. (478) 227-4366

Now.. on to the #chartporn…

via: The Digital Wallet and the Future of Payments [INFOGRAPHIC]

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