How to Navigate A Rapidly Growing Payments Ecosystem

By Kristian Gjerding, CEO, CellPoint Mobile

Over the last two decades, the mobile marketplace has evolved exponentially, from those very early days of the simple feature phone (when mobile access to the Internet was still a novelty) to the iPhone’s launch in 2007. Today, the app economy is booming.

Now, nearly 20 percent of Americans routinely use mobile wallets to complete purchases and 12 percent of merchants generate half their revenues via the mobile channel—a figure expected to double within two years.

Starbucks, long considered the mobile payments pioneer, currently collects a significant 21 percent of its revenues from the mobile channel—a figure that could rise to 50 percent in a few years.

For any executive still hesitant about investment in the mobile channel, those statistics should serve as both a warning and wake-up call: mobile is where the future of commerce lies.

What Can Your Business Do Now to Board the Mobile Bandwagon?

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