Latest research from ControlScan and TransFirst helps merchant service providers evolve their offerings
ATLANTA and HAUPPAUGE, N.Y., June 13, 2013 - As mobile commerce activity increases within the U.S. marketplace and payment processing advances alongside it, ISOs, acquirers and other merchant service providers must reposition themselves to meet the immediate and future needs of the businesses they serve. A newly released research report from ControlScan and TransFirst promises to help meet this objective, sharing important insights into small merchants' progress and struggles in implementing various mobile payment technologies.
Responses from more than 1650 merchants were collected from March 18 to April 18 of this year via the ControlScan/TransFirst 2013 Mobile Payment Acceptance Survey. The survey was sent to those businesses classified by credit card brands as "Level 4," which are merchants that process fewer than 20,000 ecommerce or 1 million physical card transactions annually. These typically small to mid-sized businesses represent service areas such as retail and consumer goods, healthcare and human services, personal and professional services, and restaurant and hospitality. Three-quarters of survey respondents' businesses have 10 or fewer employees.
Key data points from the survey include:
"The mobile payment survey findings show that small merchants have a real business need to effectively adapt to mobile technology trends," said Dave Abouchar, Sr. Director of Product Management for payment security and compliance solution provider ControlScan. "Now is the time for ISOs and acquirers to embrace these trends with innovative offerings that guide their merchants toward business growth and increased revenue."
"The mobile consumer is knocking at the small merchant's door," agreed Craig Tieken, Director of Product at TransFirst, a leading provider of transaction processing services and payment enabling technologies. "Business owners who aren't already up to speed with mobile payment acceptance need to have a viable plan of action to get there."
The free ControlScan/TransFirst 2013 Mobile Payment Acceptance Survey research report is available now. In addition, Abouchar and Tieken will present an expert review of the survey's findings in a June 27 Electronic Transactions Association (ETA) webinar entitled "Small Merchants and Mobile Payments: Measuring Current Technology Awareness and Adoption."
About the Survey
The ControlScan/TransFirst 2013 Mobile Payment Acceptance Survey was sent to the recipients of the companies' 2012 benchmarking survey as well as other randomly selected Level 4 merchants listed in the ControlScan and TransFirst databases. A total of 1652 responses were collected from March 18 through April 18, 2013.
Headquartered in Atlanta, ControlScan delivers unified security and compliance solutions that help small and mid-sized businesses secure sensitive data and comply with information security and privacy standards. We support business owners, franchisees and merchant service providers with technology, services and expertise for PCI DSS, HIPAA and EI3PA compliance; vulnerability detection and risk mitigation; POS, e-commerce and mobile security; and more. For more information, please visit ControlScan.com or call 1-800-825-3301.
A leading provider of secure transaction processing services and payment enabling technologies, TransFirst offers innovative products and services designed with financial institution, independent sales organization, healthcare, e-commerce, government and merchant customers' unique needs in mind. By collaborating with our customers and utilizing strong industry knowledge, we help them grow their businesses. Founded in 1995, TransFirst continues to attain significant market share and world-class expertise in growing and profitable industry segments. Built on a platform of personal service, customer commitment and flexible pricing, TransFirst currently processes approximately $37 billion in annual sales volume for more than 190,000 merchants and financial institution partners. For additional information, please call 1-800-745-2659 or visit www.transfirst.com.