How Digital Wallets and Mobile Payments Are Evolving and What It Means for You

The digital wallet revolution has not have lived up to its expectations -- yet. According to Gallup, just 13 percent of smartphone owners have a digital wallet app, while the majority of those who do have an app (76 percent), rarely use it.

That may be disheartening for those of us involved in the industry, but there’s always a silver lining.

Business Insider is forecasting that in the U.S. alone mobile payments volume will increase to $503 billion by 2020 and will be used by 56 percent of the consumer population during that year. Meanwhile, Sweden, Singapore, the Netherlands, France, Canada, Belgium and the U.K. are already on their way to becoming cashless societies - with Australia, Brazil, India and much of Africa following suit.

#awepay #awepayawesome #payment #paymentgateway #transactions #android #samsung #s8 #mobilepayments #desktop #computer #accepting #rentit #creditcard #cash #deposit #paypal #cashapp #requirements #moneyorder #notincluded #payquicker #security #thursdaythoughts #convenience #safety #protection #aml #fraudprevention #isp

Comments

5 MAJOR BENEFITS OF MOBILE PAYMENTS

Author: Awepay When customers come to the register to pay for their meal or purchases, many can now simply hold up their mobile phones instead of handing over dollar bills or pulling out a credit card. Since mobile payment programs are relatively inexpensive and don’t require sophisticated technical knowledge to implement, many small businesses have been quick to adopt the new technology. “Mobile has really taken away the requirement that you have to build big systems and be a large company to be successful with technology,” says Gene Signorini, the vice president of mobile insights at Mobiquity. “In many ways, it is easier for small businesses to adopt mobile payment programs because they don’t have a large infrastructure to work through so small businesses can jump right in.” Here are five ways offering a mobile payment to your customers will help you increase sales: Integrate and increase incentive programs. One of the biggest benefits of using a mobile payment option i...

12 Startups Utilizing Blockchain Technology in New Ways

Author: Awepay Cryptocurrency created quite the buzz this past year. Although the technology has been around for a few years, 2017 was the year it really took off. Bitcoin, the first application of cryptocurrency technology, hit $20,000 a coin, while coins like Ethereum also saw their prices increase. However, the technology behind these tokens, blockchain, has far more applications than just cryptocurrencies. Through a network of smart contracts that operate utilizing decentralized information on a ledger, blockchain is able to provide unmatched security and speed for data transfers. This means that blockchain technology has an application in nearly every industry where value is exchanged. For this reason, many startups have started to explore how this technology can change the way the world works. Here are twelve of those startups, each of which are utilizing blockchain technology in new ways. Related: 10 Reasons Why Good Customer Service Is Your Most Important Metric ...

How to Keep Payment Fees Low for Your Small Business

( #Awepay #PaymentGateway ) The best part of business is getting paid, but getting paid isn’t always as easy or simple as it should be. In addition to figuring out the logistics of how to get paid, you may have to pay multiple vendors different payment processing fees. Those fees can add up fast. But you have options that can help keep things simple while lowering your fees. Read on to learn more. Integrated vs. non-integrated payment processors Both online and offline card payments require a series of important steps to complete. The ability to accept cards online requires both a merchant account and a payment gateway. A merchant account is kind of like a bank account used to aggregate payments from credit cards, debit cards and sometimes ACH payments. A payment gateway is a system used to process payments, generally online, that feeds into the merchant account. Thanks to the magic of online business, you can sign up for a two-in-one package to accept payments online. For a ...

Awepay

Search This Blog