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The Mythology of Mobile Payments [Infographic]

By: , IntoMobile
Tuesday, July 24th, 2012 at 2:50 AM

Even though nearly half of Americans are smartphone users, the United States hasn’t embraced mobile payments as eagerly as other countries. There are many myths surrounding the idea of mobile payments that have likely contributed to this slow adoption. Now since the whole mobile payments market is expected to grow from $16 billion to $200 billion in 2015, Intuit decided to address couple of these myths, including:

  • Myth #1 – The fees are too high.
  • Myth #2 – I don’t need to offer a credit card solution. I still do a healthy amount of sales when accepting cash only.
  • Myth #3 – It would take too long to get paid.
  • Myth #4 – It’s too complicated to set up.
  • Myth #5 – Mobile payments aren’t secure.
  • Myth #6 – It’s not worth it.

And here’s how it all comes together in the infographic, prepared by Intuit.

About The Author

Dusan Belic

Dusan has been using smartphones since their introduction and is now following the latest trends in the industry. The "convergence" is what he's most excited about, and writing about it is the next logical thing to do. He thinks that using a smartphone is what everyone who cares about their time should do. In addition to his interests in mobile phones, Dusan also loves to experiment with the latest web and mobile 2.0 services. The idea of accessing and managing your information from any device no matter where you are simply amazes him. Whether it's an online to-do list, note taking service or a video sharing social network, he's there to try it out. He admits though, he's still searching for the ultimate web-based organizational tool, which "sings" perfectly with the mobile PIM application. Dusan used to run SymbianWatch.com which later became part of IntoMobile. He lives in Serbia, South-East Europe, from where he edits the site on a daily basis.

  • http://www.facebook.com/allanbennetto Allan Bennetto

    Nice info graphic that addresses the  key concerns of the merchant… would also be good to see a similar one from the point of view of the customers to round out the discussion