MWC Highlights Growing Acceptance of Mobile Payments

MWC highlights growing acceptance of mobile paymentsOn Monday, as Mobile World Congress 2014 kicked off in Barcelona, the popularity and prevalence of mobile payments have been more apparent.

“Many hurdles have stifled the adoption of mobile payments in the U.S. and elsewhere, not least of which is getting consumers to change their purchasing behavior,” USA Today reports. “But MasterCard says consumer and merchant sentiment toward mobile payments is improving.”

The global payments and technology company is basing that assertion on the results of the second annual MasterCard Mobile Payments Study… According to the report, merchants carry an 88 percent positive rating toward the practice, with many touting mobile acceptance by consumers as a competitive advantage.

In the last year, as mobile payments service providers like Square and PayAnywhere have reported a huge surge in adoption, it’s been compellingly evident that mobile payments are no longer outside of the mainstream.

“With the ease provided by mobile apps and wireless Internet, things like checks and mechanical registers are starting to seem like dinosaurs,” explains PayAnywhere in a recent blog post. “Mobile solutions allow retailers to accept payments at storefronts via readers that attach to smartphones and tablets. With the addition of data analytics and promotional tools, the vast benefits of mobile are drawing thousands of new converts each month. As more and more merchants adopt mobile readers for credit card processing, consumers by and large are coming to favor the option.”

To read the full report from USA Today, click here.