Payment Trends To Be On The Lookout For In 2014

Payment Trends To Be On The Lookout For In 2014 4 payment technologies of the future 8+ Mobile Payment Virtual Wallet Geolocation Check-In Social Media 2.0 Payment A major factor in the SUccess of brick-and- mortar stores has always been their distance from major streets and heavily trafficked commercial zones. That's all set to change in 2014 with the rise of geolocation check-in services like Shopular, an app that checks your location against registered businesses and issues enticing coupons before you even walk in the door. Smartphones are Another major change we're anticipating is the rise of the virtual wallet. Companies such as Google and PNC Bank offer total control over your finances through an easy-to- use Smartphone app. Most virtual wallets also include a spending card, which you can transfer money to and from, as well as person-to-person payment. We've begun to see the integration of social media with everything else we do. From posting comments and compiling to-read lists on major news websites to checking bank accounts and applying for jobs, direct communication between social media networks and the rest of our lives has added rapidly ushering in the era of a cashless future. With services like Square, mobile payment has never been easier or more convenient. While Square simply acts as a middleman, processing payments for whomever utilizes their app, other big- name companies such as Starbucks offer apps to their customers specifically for payment in their stores. a layer of convenience to every user's online experience. Customer engagement is transforming and consumers want to be able to interact Anywhere, Anytime, Anyplace. For you this means transforming your services into the digital world, a world much more cost-efficient, much more profitable and with an abundance of options. EFIG Financial Innovations Group www.figpayments.com