2018 is right around the corner, and it’s time to look forward at what some of the trends might be for the year. Now that smartphone adoption rates have risen, and many businesses have adapted to new payment trends such as utilizing merchant accounts with companies, what might the landscape look like this coming year?
Big Name Players
Even smaller companies will benefit now that Google and Apple have thrown their names into the digital wallet space. The reason? Consumers feel more comfortable trying new things, when they see established names already at the forefront. It makes them think the trend is already here, so expect lots of credit card merchant accounts to incorporate mobile wallets as a means to drive business in the coming year.
Most purchases a consumer will need to make are no more than a few taps away with a mobile payment system. The user just needs a secure device to facilitate the money transfer. This is in line with a consumer’s need for instant gratification, which doesn’t like additional steps to get something. Consumers will be able to pay for goods while standing in the store, usually while interacting with a sales person.
Mobile guides and assistants such as Siri and Ok Google, are increasingly finding use by everyday consumers. Soon, those services will alert consumers of deals and coupons when they pass by retail stores. Already, you can sign up with various companies to receive special offers. Those same offers might be saved direct to your phone, so there won’t be any more hunting for coupons.
Will your store be left behind in this revolution?