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Gartner predicts the amount of accept mobile payments customers worldwide will hit 73.4 million by 2009 and 190 million by 2012. This represents a tremendous percentage of total cell phone customers (Gartner estimates upwards of 3% of your total user base) and businesses ought to take into account this technologies as a possible payment channel comparable with checks, money and electronic funds transfers. Retailers 1st Adopters of Mobile Payments The advantages of mobile payment solutions for retailers are obvious. The capability to accept credit card payments or mobile payments on a wireless device including a smartphone enables retailers to make a host of new, innovative and engaging retail platforms. "Pop-Up Retail," a term coined by Trendwatching.com, is a temporary retail space created to promptly draw in crowds in high targeted traffic areas then disappear the moment buzz wanes. Believe fairs, concerts and other outdoor venues with massive crowd attendance. Simply because these events have restricted time durations the expense of developing a permanent retail space (along with the infrastructure to help it like phone and web lines) is prohibitive.

But do not write-off these sales just but - mobile payment systems bridge the gap. With the swipe of a credit card down the side of a payment-enabled iPhone or Blackberry gives you instant access for the same payment processors you currently use - returning an instant payment authorization and integrating with accounting systems afterward to help keep track of it all.

Future uses of mobile payments will extend beyond point of sale activity at events to delivering valuable payment tools for in-field staff like carpet cleaners, repairmen, plumbers, and so on. hoping to reduce the time in between invoice and receipt of funds. Corporations creating house calls to talk about a customer's outstanding invoices will be in a position to capture a payment instantaneously - offering the buyer an solution to prevent quick disconnection of services. Business-to-Business Businesses Early to Late Majority It's true that several industries accept mobile payments mobile information solutions for business-to-business clients, but most have focused on account and inventory information and facts retrieval, logistics and routing solutions, and signature capture for goods delivered. In the future, corporations will move away from invoicing buyers then waiting 30+ days for payment and will instead go for mobile payment systems the customer makes use of at time of service or delivery to produce payment. B2B providers will represent the Early to Late Majority adopters of this technology but its influence are going to be considerable. The cost of managing receivables will be drastically lowered leveraging mobile payment solutions.

In Summary - Brainstorm on how Mobile Payments can Influence Your Corporation

The multitude of killer applications available today on our web-enabled cell phones, smartphones and other equivalent devices would have been unheard of just 4 years ago - consequently, brainstorm for the future. You and your executive leadership must engage topic matter experts, each inside and outside the business, to identify how mobile payments are likely to impact your company model in the brief and long-term. Map out the impacts and begin creating a strategy to make sure you're proactively capturing the value mobile payment systems supply as an alternative to reactively wanting to catch up with your competition. Dataquest Insight: Mobile Payment, 2007-2012 Kelly Brief is an expert within the technology, business enterprise process automation and promoting disciplines. He shares over 15 years worth of knowledge everyday at kellyrshort.com helping compact and medium companies with actionable suggestions on rising sales with strong advertising and marketing, lowering operating expenses utilizing business enterprise method management, and leveraging unified technology to crush competition accept mobile payments.