Mobile Payment Technology and Adoption Gains More Traction
Every week it seems that mobile payment technology and adoption gains more traction. Two articles were posted in the past few days showing that if you haven’t already started thinking and planning for the day when consumers use mobile payments more than credit/debit cards, checks or cash (combined!), now is the time!
First, the Electronics Transactions Association has formed a Mobile Payments Committee to study public policy, regulations and standards for moving funds with a smart phone. Members include Visa, Mastercard, Discover, Wells Fargo and Capital One. According to an article posted on VentureBeat, AT&T, Verizon, Sprint, T-Mobile, Google and Apple have joined as well.
Second, Diane Mermigas writes in a post that “social media will move mobile payments to the next level”. http://www.businessinsider.com/social-will-move-mobile-payments-to-the-next-level-2012-8
Most organizations don’t use Facebook, Twitter, or texting with any skill. Missing these vital communications links might mean your members, customers or patients could be picked off by someone who does.
Just as online banking changed the business nearly 20 years ago (yes, it’s been that long!), mobile devices and social media are shifting the world again.