Increasing Retail Sales Through In-Store Mobile Payment

By Britt Davies via the Workplace Blog

The humble store cash register may soon become a museum piece with the growth of retailers’ in-store mobile payment.

But retail customers may be experiencing a mobile payment evolution rather than revolution, according to Barry Silverstein writing in Brand Channel:

“While mobile sales are insignificant now, they are growing rapidly. In-store mobile payments almost quadrupled last year, and PayPal alone processed around $14 billion in mobile payments in 2012, according to Business Insider. That means mobile payments need to be a key part of future retail strategy.” Analyst group Berg Insight, predict in-store mobile payments in North America will reach $44bn by 2017.

Silverstein describes the approach across both major retailers and small businesses as taking “baby-steps” with technology, “replacing cash registers with iPads and equipping sales personnel with handheld credit card scanners, à la Apple stores”.

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