Consumers who want to have a more convenient way to make payments and even keep better tabs on their credit card debt may soon have a number of options available to them.
As more companies enter the mobile credit card payment system industry, the quality, convenience and ubiquity of these systems is likely to improve considerably, and fortunately for all involved, there is a considerable amount of interest in pushing this new payment method, according to a report from USA Today. Businesses from mobile phone service providers to payment processing giants to smaller startups are jumping into the game, but experts say that they have to do all they can to make adoption as easy as possible right off the bat.
Experts have viewed adoption as the largest hurdle mobile payments will have to clear in the early stages of being widely available, and companies are working to incentivize use, the report said. Some may even make it easier to manage accounts and work toward debt relief by offering in-depth looks at account use through these systems.
Companies also have an incentive for getting involved in the industry, as it is expected to grow to an annual value of $44 billion by 2015.