Within the last several years, mobile technology and the emergence of the “digital wallet” have begun revolutionizing the way that many retailers do business. With mobile payments projected to reach $90 billion in 2017, companies such as Square, PayPal and MasterCard are taking the lead in digital innovation. Take a look at how they’re staying ahead of the curve:
Square released “Business in a Box,” a package designed to provide retailers with all the tools necessary for a fully functioning, in-store cash register. The kit includes two Square credit card readers, iPad stand, cash drawer and even receipt printer for an additional $300.
PayPal recently partnered with Discover and is now available as a payment option in over 17,000 retailers worldwide, including Home Depot, Abercrombie and Fitch and Jamba Juice.
MasterCard launched a cloud called MasterPass, which securely stores card information for users. In addition to storing user information, MasterCard is partnering with VeriFone to enable user-to-purchase using various mobile devices at point of sale.