Report: Small Merchants Not Yet Ready for Mobile
Sept. 14, 2012
Small merchants are not prepared for the approaching explosion in mobile payments, according to a survey released this week by PCI compliance company ControlScan and payments processor TransFirst. Small Merchants and Mobile Payments: A Pulse Check on Technology Awareness and Adoption found that three-quarters of Level 4 merchants (those that process fewer than 20,000 e-commerce or 1 million card transactions annually and that account for 99 percent of U.S. merchants) reported either their websites are not optimized for mobile users or did not know if they were optimized or not. Seventy percent are not tracking if online purchases were made via mobile devices and, consequently, were not tracking shopping cart abandonment rates between mobile and PC/laptop users.
“The majority of small e-commerce merchants are not evolving their online businesses to capitalize on mobile due to a perception of low customer demand,” the report’s authors wrote. “However, these same merchants are not measuring key indicators of lost mobile sales, such as website traffic and online shopping cart abandonment by mobile users. This finding reflects a potential missed opportunity for small merchants to compete and increase revenue online.”
ControlScan and TransFirst intend this report to be the first in an annual series, setting a benchmark to compare small merchants’ awareness and adoption of mobile payment technology going forward.