March 7, 2017Among companies whose profits are growing by at least 11 percent, 43 percent offer a mobile app that supports payments compared to only 34 percent of companies experiencing slower profit growth, according to a new report from Ingenico ePayments, NTT DATA, Oxford Economics and Charney Research. Only 8 percent of firms experiencing zero or negative profit growth offer in-app payment capabilities. While authors of the Future of Money are careful to state the data shows only a correlation (i.e., does not imply that having a mobile app causes accelerating profits), those polled feel being innovative in payments, as well as in other parts of a business, has salutary effects on revenue and profits. “Financially successful companies are ahead of the curve when it comes to e-payment adoption,” the report’s authors wrote. “Regardless of their business or industry, they know that the payment component of a transaction is the one people enjoy the least. Customers are happiest when the payment method is virtually invisible, while businesses want payment options that bring in more customers without costing a fortune in fees.” In addition to mobile payments, cross-border e-commerce also was an indicator of success, according to the report. Of those companies with annual profit growth greater than 11 percent, 56 percent sell internationally while only 44 percent of slower-growing companies do the same.
Learn more about this topic at these CNP Expo Education Sessions in Orlando, FL from May 22-25, 2017.
- Cross-Border E-Commerce: Established Markets
- Cross-Border E-Commerce: Emerging Markets
- Assessing Fraud Risks for Mobile CNP Payments