CAN Capital Releases TRANSACT 15 Payments Survey Results
The payments industry is known for embracing innovation, and 2015 promises massive disruption and technologies that will revolutionize the entire ecosystem. The results of a recent survey conducted by CAN Capital, a provider of alternative lending solutions for small businesses, show that mobile payments are poised to grow exponentially this year. Seasoned payments veterans are competing and collaborating with brand new startups to bring the most cutting-edge mobile offerings to market. In the midst of these new developments, businesses are thinking about how best to adapt to the new reality of EMV cards and NFC-enabled smartphones. When it comes to predicting trends and patterns in the payments industry, it only makes sense to start with the experts. CAN Capital surveyed prominent professionals in the payments and alternative finance ecosystem at ETA’s TRANSACT 15, the premier event for payments education and networking.
Here are the highlights from CAN Capital’s survey:
- 70% of respondents said that mobile payments have grown the most out of all merchant-focused product offerings in the last 12 months.
- 36% of respondents said that mobile wallet technologies will have the largest impact on consumer spending habits in 2015, followed by mobile and online marketing practices (27%) and EMV adoption (20%).
- The shift toward mobile payment technologies is widely viewed as having the largest potential for growth and disruption in the payments industry, with 40% of respondents citing mobile wallet adoption as the most disruptive industry trend. In contrast, 30% of respondents said that the EMV shift would be the most disruptive trend.
To find out more about the upcoming EMV shift, check out ETA’s resources for merchants at SellSafeInfo.org.