Mobile credit card processing is a growing trend in how customer transactions are handled today, and its here to stay. The facts are clear, the amount of money transacted through mobile banking in 2011, 105.90 billion US dollars, jumped to 171.5 billion US dollars in 2012. That’s a 162% increase in just one year. Giving consumers the option to use mobile in their transactions becomes even more imperative in the next four years, as the projected amount of money transacted via mobile in 2016 amounts to over 216 billion US dollars.
Money was made much more secure with the development of plastic credit cards and electronic keypad terminals in the late 1960s. Cash that was once easily lost or stolen, and nearly impossible to track became centralized with the development of the VISA card. Now in this millennium, credit card online processing via mobile is considered the most secure way to transact payments over plastic credit cards.
US News notes that the GPS feature in mobile phones allows consumers to feel safer knowing that if the phone is lost, it can be tracked anywhere it was lost, unlike a plastic credit card. Password access is also a feature that can be used on a mobile device, unlike a lost plastic credit card, that can be used by a thief until suspicious activity is finally noticed. Online merchant accounts can easily accommodate the mobile credit card trend. Merchants can confidently assure their customers when asked that mobile credit card transactions are a safe and secure way to enjoy online shopping.