Many retailers and consumers will be helping grow the trend of mobile payments.
Mobile payment options such as Apple Pay, Google Wallet and others are still relatively new services, but their use is expected to increase rapidly in the next few years, according to an article by the National Retail Federation.
The National Retail Federation article discusses Accenture’s 2014 North American Consumer Payments Survey, which surveyed 4,000 shoppers to study their attitudes about payment methods.
The survey “found that 40 percent had used their smartphones to make at least one payment at a merchant location – up from 16 percent two years ago,” according to the article.
Respondents most likely to use mobile payment methods right now are millennials and individuals with household incomes of at least $150,000, according to the survey.
Retailers will need to buy the technology to support mobile payments in the coming years so customers can pay for merchandise with their smartphones, the article says.
Independent home improvement retailers adopting the technology will find that it can be an easy to use and quick form of payment. Training employees on the proper way to use this technology during checkout will be key to keeping checkout times brief.
To read more about mobile payment methods, click here.