Correlation found between fast-growing firms and mobile payments

A global survey reveals that fast-growing companies are more likely to have embraced mobile payments than slower-growing companies.

by Helen Leggatt

In their survey of 2,300 companies and consumers, NTT DATA Consulting and Ingenico ePayments found that 43% of businesses with revenue growth of 11% each year have an app that allows purchases and payments.

Among companies growing less than 11% each year just 32% had an app with purchase and payment capabilities and just 8% of companies with zero or negative growth.

According to Peter Olynick, retail banking senior practice lead for NTT DATA Consulting, the findings highlight the need for companies to embrace innovations in payment methods.

mobile cons.png "Companies should be working to provide a frictionless payment experience by bringing consumers innovative new products and processes," said Olynick. "Their efforts will help improve customer satisfaction, facilitate cross-border commerce and allow for a more efficient shopping experience."

The survey, conducted by Oxford Economics and Charney Research, also found that companies offering mobile payments did better in international markets compared to those companies without mobile payment options.