Mobile Payment Breakthough
When purchasing, paying with a mobile is the latest trend!
With the evolution of technology and its pervasiveness in making life easier, mobile payment systems are the newest trend changing how we do business. Mobile banking, mobile payment apps and systems like Apple and Samsung Pay are becoming more common among millennials and professionals alike. The adoption rate of those making payments from a mobile phone either through a mobile site, a text message or a downloaded app continues to increase from 17% in 2013 to 22% in 2015, and that rate is even greater in younger age groups. This rate is still smaller than that of mobile bank users, but it is on pace to become an easy and popular way to transfer and receive money.
Before smartphones and PayPal and instant transactions, employees had to use a P-Card to make company purchases. Designed to bypass the traditionally complicated purchasing process, the P-Card was supposed to make it simple for any person in the company to charge expenses to the overall organization and procure the goods and services they need in real time. But the backend of these cards was complex and headache-inducing.
Purchase anywhere, anytime, from any device!
Mobile Procurement to Empower Mobile Payment
Being able to instantly connect an account and make purchases with a few taps of your fingers has drastically simplified and hastened how individuals and companies make transactions. This has great potential to contribute to the mobile procurement landscape in cases of allowing any employee, regardless of familiarity or position with the procurement system, to research, shop and order items.
Just as mobile procurement platforms consolidate all the responsibility into a single place and reduce the complexity of the procurement process, mobile payment systems make it easier to manage, track and complete orders. With minimal training and the integration of everyday technology, companies have the opportunity to attract the top talent in the industry and bring in employees of all ages, skill levels and value.
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