40% of Small Businesses Now Use Mobile Credit Card Readers
Mobile credit card readers took a little time to gain global acceptance, but now they are fairly common. That is evident with the latest study by BIA/Kelsey, which tracks the advertising and marketing behaviors of small and medium-sized businesses (SMBs).
The most recent Local Commerce Monitor report indicates that 40% of SMBs are now using mobile credit card readers to accept payments from their customers. An additional 16% of those surveyed planned to add this feature to their business within the next 12 months.
Accepting mobile payments isn’t the only way these businesses are starting to go mobile. Many of them are also using the Internet for marketing and company growth.
“A closer look at the data shows adoption of mobile and social varies across SMB industry sectors,” said Steve Marshall, director of research at BIA Kelsey. “The data reveals professional and home and trade services are embracing mobile in a big way, with service providers essentially becoming walking POS terminals.”
A staggering 72% of surveyed businesses indicated that they use social media to promote their efforts online, and 66% are considered “extremely engaged” in their accounts. This includes regularly updating their Facebook status and adding photos to online albums.
Technology is transforming the way people pay and get paid. With the growing availability of mobile card readers, we can only imagine what credit card processing will be like in another ten years. If this survey is any indication, we can expect to see even more mobile payment options in the future.