Using mobile devices to make purchases is becoming commonplace. An estimated $37 billion in mobile transactions occurred in 2015, and that total is expected to explode to over $800 billion by 2019. User payments with mobile devices are expected to exceed 70 percent this year. Like the mobile phones and devices themselves, mobile transactions and payments will soon be ubiquitous.
First conceptualized in the 1990s, paying for transactions with mobile devices has now taken off as a convenient and beneficial option for both consumers and merchants. Consumers find it easier to ditch credit cards all together and rely solely on their phones for payments. Mobile point-of-sale transactions give merchants the ability to integrate loyalty and incentive programs into mobile payment applications, track customer trends and inventory, increase check-out speed and save money on…
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