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Monday, 05 December 2016 16:02

Will Cash Always be King?

While the concept of mobile payments has been lingering for a while, it seems to be stuck in the food service industry, specifically the coffee and breakfast sector.

Even in the breakfast food industry, however, mobile payments aren’t catching on quite as quickly as initially expected. Incentives offered by Starbucks for using their mobile app appear to be working quite well, as customers are offered ways to skip lines and speed up the purchasing process overall. Still, mobile transactions only account for 21% of its transactions.

Use of mobile payment options is definitely concentrated to the younger generations, and it is taking a lot longer for the trend to grow across the board. Will 2017 be the year that mobile payments take over? It doesn’t sound like it. But if you want to brush up on your mobile payment terms and read some interesting stats on the matter, read this article by Hal Conick.

Do you know someone who should see this?

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