What is mobile payment for customers?
A wallet of digital credit cards and gift cards housed on a smart phone
What is mobile payment for businesses?
Another way to accept payment from customers
Apple Pay hits the 127 million user mark, [an increase of more than double the 62 million who used it this time last year, a new report claims.] – falls short of expectations (source, paymentscardsandmobile.com) While some may say it fell short, this is still a great number of users who engage with mobile payment.
Business Insider says, more than 80 percent of young adults currently have smartphones, as do 60 percent of their parents. With such prevalent access to technology – mobile payment has gone from fringe tech to a mainstream source of payment.
When thinking about your customer demographic note the age range of your consumer. mobile payment adoption is… among the 35 to 44 age bracket [and] among 25 to 34-year-olds. (Business Insider)
So, in short you should have the tools to accept mobile payment for your business because people ARE using mobile payment, they want to ease and access to their money virtually.