Mobile Payment Acceptance Increasing Among Small Businesses

Nearly half of small businesses are tapped into mobile payments, a new report from BIA/Kelsey reveals.

August 13, 2013

CHANTILLY, Va. – According to new research by advertising consultants BIA/Kelsey, the percentage of small businesses that are using a mobile payment platform to accept transactions is rising and nearly at the halfway mark, Zdnet.com reports.

The BIA/Kelsey Local Commerce Monitor reports that 40% of businesses now use a mobile credit card reader attached to a smartphone or tablet, while an additional 16% have made plans to invest in such a solution within the next 12 months.

The report is an ongoing study that includes feedback from small business owners and managers, specifically at companies with fewer than 100 employees.

In addition to the mobile findings, the study revealed that 72% of small businesses use social media to promote their business, with 52% of them relying on Facebook and 25% on a Google+ Local page.

"Together, mobile and social are transforming the way SMBs acquire and retain customers," said Steve Marshall, director of research for BIA/Kelsey. "With the heavy use of social media, SMB marketing is quickly becoming a two-way engagement rather than a one-way promotion."

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