Mobile point-of-sale may seem like a relatively new solution to FIs, but the latest research from the Money Forum lays bare the hidden dangers behind this viewpoint. By failing to act and capture the market, Mobey predicts FIs could be reduced to infrastructure providers, losing out on the benefits of the value-added data mPOS can provide. What steps should FIs take to ensure this future doesn't come to pass?
Take a look around the department store today and you'll see more than tremendous Black Friday crowds, you'll see mPOS solutions from major providers such as Square, PayPal and more. But, one thing you won't see on these machines is any FI branding. Why should FIs look to correct this come next year so Black Friday can boost their bottom line?
Not many FIs are feeling confident about their position in the SMB market - in fact, only one in three report this sentiment. But, this concern may not match the reality. How could mobile point-of-sale, the popular SMB payment acceptance alternative, play a role in helping FIs recover this revenue and recapture this market share?
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Friday, March 7, 2014
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