Smart phone technology is leaving many wondering about mobile payments. Questions from both sides of the transaction regarding how a mobile payment will work keeps many on the sidelines. If only there was an easy to understand infographic that showed details about mobile payments.
Here is the mobile payment infographic that explains it all:
Source: Mobile Payments Today
The types of mobile payments are broken down:
- Mobile at the point of sale.
- Mobile as the point of sale.
- The mobile payment platform.
- Direct carrier billing through phone bill.
- Instead of a store credit card, the store has it's own mobile payment system.
Think about the process you have for your business. At what point does the payment need to happen? Do not limit your thoughts to the old ways of thinking. If it is more convenient to get payment first, it may be an option to do so.