According to First Data Corp, smartphone based transactions hit a tipping point with a 75 percent growth rate. Following an exceptionally slow rate of adoption over the last few years, restaurant mobile payments are finally starting to catch on, particularly in the quick service industry. This year saw an impressive growth rate and it is expected to continue in this strong and positive direction. Payment technology company, First Data Corp, reported a massive rise in smartphone transactions. Quick service restaurant mobile payments were especially high performers, according to the firm’s…
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Businesses are moving in on mobile payments market
A number of well recognized companies, as well as smaller businesses that are far less well known, are now vying to become the head of the practical mobile payment marketplace. According to research director for commercial banking and payments, Andy Schmidt, from TowerGroup, “The promise of the mobile wallet is you’ll be able to manage your entire financial life from a single device.” One of the major players in the mobile payment game has been Google, right from the start. In May, it unveiled its test pilot for Google Wallet.…
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