Jul 29, 2013 Dave King
As consumers increasingly turn to ACH cards and smartphones to make purchases, mobile payment systems are likely to become a greater part of the United States economy.
These technologies have been slow to penetrate the market, but Business Insider Intelligence said attachable credit card readers and Near-field Communications will be the driving forces behind the mobile payments revolution.
Attachable credit card readers can become a great benefit for small businesses that were previously unable to accept plastic. All merchants have to do is obtain a reader that can be used with a smartphone or tablet to be able to take credit cards as a payment method.
Meanwhile larger retailers could benefit greatly from NFC technology, as it can integrate easily with current point-of-sale systems.
In fact, there are rumors that the next iPhone could be equipped with NFC, according to Mobile Commerce News. Should that be the case, millions of Americans would have this technology available, creating a great need for retailers to implement systems able to accept NFC.