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Published on Tuesday, 17 February 2015 Published in Blog

Jason Oxman is the CEO of the Electronic Transactions Association (ETA), the global trade association representing more than 500 payments and technology companies. His insights into the popularity of mobile payments is timely information. In the Innovations section of a recent Inc. magazine article, Mr. Oxman explains: “As consumers change the way they pay, migrating from plastic cards to mobile phones and wearables, the payments industry is deploying a host of new technologies for retailers--and empowering consumers to pay how they want to pay.

 

While merchants adapt to several changes in payment processing administration in 2015, including accepting EMV and becoming PCI DSS compliant, B2C and B2B Businesses might consider incorporating the indomitable strength of mobile device processing now. 

 

Research Supports Mr. Oxman

 

In June 2014, a CustomerMonitor survey of 3002 consumers conducted by Mercator Advisory Group indicates, “…mobile payments is of growing interest and use as 43% of US consumers surveyed have tried mobile payments, up from 31% in 2013.” The report also reveals, “…that 38% of US adults, especially young adults (62%), are interested in wearable technology devices with a mobile interface that enables various activities, which may include making payments or mobile banking.