Myth vs. Fact: Mobile Payments Infographic | PaymentVision

Myth vs. Fact: Mobile Payments It's time to rethink mobile payments by putting some of its common myths to rest. By doing so, you can help grow your business while offering your customers an alternative way of paying their bills while still maintaining a high amount of security. Myth Fact #1: For most cases, the processing time for mobile payments are It's slow... similar to that of traditional online payments. #2: Some of the most advanced security techniques and technologies are used right now for mobile payments, including 2048-bit encryption and tokenization. It's not safe... #3: Most mobile payment vendors are easy to setup for the business and are easy to use by the customer. Mobile payment user adoption is expected to increase to 111 million users in 2016, up from 99 million in 2015. It's complicated.. ??? # 4: It costs too much... Third-party vendors generally offer more features while being very affordable compared to building in-house. 40% of users may go to a competitor who offers an optimized mobile payment platform. #5: If using a third-party vendor, maintenance and upgrades are usually taken care of for you. Users can also use a multitude of devices to make payments with. Hard to maintain... PaymentVIsion' lite Poyments. Simplified Payments. Built Just for You. paymentvision.com | 1-800-345-7243 [email protected] © 2015 PaymentVision, a division of Autoscribe Corporation. All trademarks, service marks, and trade names referenced in this material are the property of their respective owners. %24