The vast majority of people own a cell phone. Over the past 10 years, these devices have greatly changed consumer habits and now govern they look for, buy, and pay for their goods and services.
In Canada, a Google study carried out in 2017 revealed that one out of three Canadians use smartphones for payment. In order to remain competitive in this digital age, your start-up should start embracing mobile payments.
What are mobile payments?
There are 2 main categories of mobile payments that work in different ways:
Mobile Wallets: stores a customer’s bank card information securely on his/her mobile phone which can be used subsequently for IN-APP single-click payments scanning a QR code or a contactless technology app (ApplePay, SamsungPay, AndroidPay).
Mobile payments offer your customers convenience and greater flexibility in terms of payment options. Modernizing your business is necessary in this rapidly changing digital age and accepting mobile payments should be a key part of your strategy.
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