From GS Online's MLS Forum
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Recently, GS Online MLS Forum member M1CHAEL asked other members whether they'd noticed an increased demand for mobile payments. Following are excerpts from the responses he received:
I am sure that it is more successful for some markets versus others, but overall and in my market, it is lukewarm at best.
- STEVE NORELL
I have to agree. There has been little demand to this point except in some niche markets. All of the new technology (chip, mobile, wallets) is in its infancy, and it will probably be years before it's commonplace.
[F]or the type of merchants that I deal with, and want to deal with in the future, I don't see mobile as being a tool that will appeal to them or in any way make their lives easier. It's a nice bullet to have available should the need arise, but I don't personally chase merchants that would need it on any type of regular basis.
I have several coffee shops that have started using SquareUp for their $2 transactions at 2.75 percent and no transaction fee. They are very happy with it.
We're seeing a huge and very noticeable increase in demand for mobile payments, and much of it is coming from our existing merchant base. More and more traditional businesses are adopting mobile payments to fit certain needs but not as their primary means of card acceptance. We set up at least one mobile payment account a day and often more. But we have our own app and platform, so we mostly give it away. We'd rather not have our merchants exposing themselves to an alternative provider like Square - even if it's only a small subset of their business. It's easier for them to download and use our app through their existing account than have two separate providers, especially since we can link their POS, terminal, mobile and web payments through a single gateway. But mobile is growing rapidly among traditional businesses, and reps should have a competitive solution.
To see all of the comments, please visit the MLS Forum thread titled, "Are you seeing the demand for mobile payments rise?"