Adoption of NFC (Near-Field Communication) mobile payment systems is definitely growing, but so far adoption has been slower than expected. So, is it worth your business investing in the capability right now?

Should my Business take Mobile Payments through my PoS System?

Adoption of NFC (Near-Field Communication) mobile payment systems is definitely growing, but so far adoption has been slower than expected. So, is it worth your business investing in the capability right now?

While smartphone payments still account for relatively low percentages of transactions, they’re rising quickly.

Some industry observers may suggest it’s not worth investing in the technology at the moment, but there’s no doubt that all consumer sectors will have to do so within the next couple of years or face customers turning their back on them in droves.

Mobile phones – always on, always with you

Mobile phones can do pretty much anything these days. Logging the number of steps you’ve taken, finding your nearest petrol station, listening to music – already there’s few areas of our lives which haven’t been infiltrated by mobile technology.

Who knew when the first smartphones appeared just what they would soon be capable of? A mobile phone is always on, and always with you. And that means its uses are almost boundless.

Until recently, the only items which were always in your possession were your keys and your purse. It seems logical to assume that a mobile phone could soon replace both of those ever-presents in the average pocket or handbag.

Paying for things with a mobile is almost certainly the way we’ll do things in the future, but that doesn’t mean it’s how we’re doing things now or how we’ll do them next week. But, evidence suggests that an explosion is coming.

Mobile spending trends in the UK

In the 12 months up to March 2018, mobile spending in the UK rose by 300 per cent. Supermarkets, bars and restaurants are driving that surge. Shoppers on the go are grabbing their groceries with a swipe of their phone while time-starved diners and drinkers are using a mobile to pay for their purchases.

If you’re operating a business of this sort, it’s already essential that you embrace mobile payments. It won’t be long until customers become irritated if they can’t pay for their quick lunchtime bite with their phone.

Until recently, this type of low value, frequent purchase seemed to be the visible limit for mobile payments. It seemed that technology, security and customer confidence in the applications would need to increase before phone pay systems became the norm in other sectors.

But this year has seen the launch of ‘limitless’ mobile payment services, led by ApplePay. That means sectors selling higher-end products are quickly adopting mobile “tap and go” systems and it really won’t be long until sales in every consumer sector are driven by smartphone spending.

The immediate future

2018 is likely to see the use of debit cards finally pass cash as our favoured payment method. It’s already unacceptable for a business to say ‘no’ when asked if they take cards. It seems it won’t be long until the same is true of mobile payments.

Experts suggest we’ve already reached the “tipping point” for mobile payments and that the avalanche of adoption is upon us. Dare you lag behind?

Already, all-in-one PoS devices are available on the market in a cost-effective form. Able to accept card or mobile wallet payments, they’re undoubtedly the present and future-proof devices that all businesses, large, medium or small, will need to board the revolution.

More Blogs
LNER Selects ECR Retail Systems for New MPoS System

ECR Retail Systems has been awarded a contract by the London North Eastern Railway (LNER) for its MPoS system, supporting rail crews on the London King’s Cross to Edinburgh route as they provide at-seat services to customers.

“From Warzone To Buffet Cart”, Read What SmartRail World have to say about us…

“From warzone to buffet cart”, read what SmartRail World have to say about us…

Air Malta upgrades its retail tech

ECR Retail Systems has been selected by retail logistics specialist, Versilia Solutions, to provide an electronic point of sale system for Air Malta’s inflight MPoS requirements.

The initiative underpins a drive by Air Malta to improve its in-flight catering experience. As part of its growth strategy which included the launch of 21 new destinations in just a year, the airline also enhanced its in-flight service and onboard operation.

The Benefit of Retail Time Data & how it affects your Business

We are living in the era of big data, and some sectors have been quicker than others to catch on to the potential of business information which can be harvested for the benefit of sales and marketing strategies. One of the 'early adopters' has been the retail industry, which has been busy exploiting the opportunities presented by real-time data.

How To Boost Sales With Your POS During A Slow Season

It’s a sad truth that every retail business has its busy seasons and its slow seasons. Even mighty multinational behemoths like Amazon report a dip in sales in mid-June and early August.

ECR Safeguards The Future Of Paris Institution With Mobile Payment Solution

ECR safeguards the future of Paris institution with mobile payment solution

ECR Launches SNCF Mobile Payments Project

Following a successful pilot project ECR Retail Systems – the London-based mobile point of sale (MPoS) specialists – have deployed their real-time mobile payment solution across the entire SNCF fleet of trains, France’s largest rail operator. This development follows the award of a three-year contract.

How to Prevent Theft with your Point of Sale System

Theft can represent a major breach of trust, and also cost businesses a lot of money. The good news is that there are ways of preventing theft from your point of sale (POS) system, and in this post, we take a look at some of them.

ECR Celebrates A Terrific 2016 And Announces Further Expansion

2016 was truly a year of great change for all of us here at ECR and we are looking forward to launching into 2017 with even more exciting announcements. January 2016 signalled both a new year and a new home with a move to our fabulous new offices in Kings Langley. Clients and staff enjoy state of the art equipment in each of three meeting

Why your customers need self scan ticketing right now!

With the advent of retail self-scan machines, and onboard smartcard readers for public transport, today’s customers and passengers are increasing being afforded the liberty they have demanded to manage their own purchasing and payment experience. And mobile ticketing and EPoS systems are no exception.

The Future Of Retail With Mobile Point Of Sale (POS)

The efficiency, interactivity, and flexibility provided by mobile point-of-sale systems are making them an essential part of today’s shopping experience.

Which POS System Should I Use?

Today's electronic point of sale (POS) systems can help businesses to enjoy better security. efficiency and customer service in new ways