On Monday, Business Insider updated readers on the emerging superpower that is the mobile payments industry – the growth of which is being driven by the flourishing prevalence and popularity of credit card readers.
“The mass adoption of smartphones and tablets has set the stage for a move away from fixed-point, card-based transactions and toward those completed on mobile,” the report reads. “The old dream of the ‘digital wallet’ is coming true in a very particular mobile-led fashion. With more than $3.95 trillion of non-cash transaction volume recorded in the U.S. alone in 2011, the stakes are high in this space. ”
At BI Intelligence we argued seven months ago that attachable credit card readers and their companion mobile apps would become the most widely adopted mobile payment technologies.
As MMW covered earlier this month, some of the world’s largest companies and brands are turning to mobile credit card readers as an innovative sales solution.
In recent weeks, Scentsy, a global leader in fragrance, announced a new exclusive mobile payments processing partnership with PayAnywhere. Scentsy’s sales force of over 200,000 members can now dramatically ramp up revenue in response to today’s most reliable and secure mobile payments technologies.
To learn more about the new Business Insider report, click here.