8 Interesting Facts About Small Business and Mobile Payments

Mobile payments are all the rage among small business owners these days, and a large number of them are turning to GoPayment to accept credit card payments using only their smartphones or tablets.

How’s it working out? Consider these statistics, which show how the decision to go mobile is paying off…

1)      In 2012, mobile payment volume totaled an astonishing $171.5 billion worldwide. That’s according to Gartner, which notes that the figure jumped almost 62 percent from 2011.

2)      According to a survey of small businesses conducted by AT&T, 72 percent of respondents reported using mobile apps in their business.

3)      The eighth annual IDC Financial Insights Consumer Payments Survey, which was released in the summer of 2012, reveals that over 33 percent of all U.S. consumers have made a mobile payment. So it’s not just businesses that are embracing the mobile payments revolution; it’s their customers as well.

4)      Businesses which use GoPayment are already seeing results. Over 70 percent of GoPayment customers who are new to credit card processing say that GoPayment is helping them boost sales. That’s largely because GoPayment is so easy to use and has a simple pricing structure.

5)      In addition, more than four out of every five GoPayment users surveyed in 2012 said that GoPayment helps their business look more professional. And when small business owners are battling for market share against large conglomerates, appearances are everything.

6)      The Discover Small BusinessWatch Survey indicates that 46 percent of all small business owners have experienced a cash flow shortage within the previous 90 days. With GoPayment, the funds from every transaction are deposited directly into a business’s account immediately after a sale closes.

7)      According to the World Payments Report, in 2013, about 15 percent of all credit card transactions will be made via mobile payments. What’s more, that rate will exceed 50 percent of all transactions in 10 years if mobile payments growth continues at the current pace.

8)      Finally, the Yankee Group predicts that mobile payments will pass the $1 trillion mark in total volume in 2015. Wouldn’t it be nice to get in on some of that revenue?

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