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How to be prepared for your business to take its credit card processing system mobile.
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Posted On :
Nov-01-2011
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Article Word Count :
452
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With the current young generation’s appetite for mobile consumption merchants need to adjust and adapt for this growing market. For many us the idea of having a phone with the capability to act as everything from our car keys to our credit cards must realize that there is an upcoming generation whom has known no other way. As merchants who process credit cards should be aware of, changes are on the horizon.
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With the current young generation’s appetite for mobile consumption merchants need to adjust and adapt for this growing market. For many us the idea of having a phone with the capability to act as everything from our car keys to our credit cards must realize that there is an upcoming generation whom has known no other way. As merchants who process credit cards should be aware of, changes are on the horizon. Being able to meet the demands of this large and highly sought after demographic are essential for any business owner.
"Consumers are already living a mobile lifestyle, so using their phones to make payments on a daily basis is a natural next step," said Mung Ki Woo of MasterCard Worldwide in a press release. What is quickly shaping up to be a game changer for the credit card merchant industry is a welcomed arrival by consumers. While some merchants mat be reluctant to adapt to new ways of doing business those owners will find that to be an eventual mistake.
Going mobile provides convenience for both yourself and your consumers, establishing yourself as a business that is receptive to the wants and needs of its customers. The credit card process is about to change forever, just as we move form cash to plastic we continue to progress and go form plastic to digital. Using a credit card swiper will become a thing of the past as will carrying a wallet with various credit cards and identification. A new study from MasterCard says that 65 percent of U.S. consumers between the ages of 18 and 34 say they prefer carrying a phone to a wallet or a pocket book.
Check with your credit card merchant provider to explore all the option available to your business. If your current provider is not set up to handle such a request here is one company that can, creditcardmerchantprocessor.com. It would also be beneficial for you to have a basic understanding of the process before committing to any contract or service provided.
The two major innovators in the industry to this point have been Google Wallet and Square both very high profile ventures brought to the forefront by some the best minds in technology today. The systems vary in terms of restrictions and capabilities. For instance Google Wallet is exclusive to MasterCard and only available through Sprint Nexus S 4G phones. With this technology being in its infancy there are still concerns and limitability. The time is here to join the revolution of mobile technology and merchants should stay ahead of the curve and commit to creating more mobile payment systems.
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Article Source :
http://www.articleseen.com/Article_How to be prepared for your business to take its credit card processing system mobile. _98347.aspx
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Author Resource :
Know more about credit cards processing
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Keywords :
credit cards processing,
Category :
Finance
:
Finance
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