American telecom service provider AT&T and Vantiv, a provider of payment processing services, announced new payment products.
According to Forrester Research, U.S. mobile payments will reach $90 billion in 2017, representing a 48 percent compound annual growth rate from the $12.8 billion spent in 2012.
The new solution supports key emerging sales and payment trends that include field service providers such as plumbers and heating and cooling technicians accepting card payments at customer homes, instead of calling in payments over the phone or mailing bills later.
The other target will be restaurant owners offering a tablet-based, table-side payment option during their busy hours to speed table turnover and retailers capturing and processing customers’ email addresses upon payment and running email marketing campaigns to achieve increased customer traffic.
Vantiv Mobile Accept from AT&T is a mobile app that utilizes a card reader to allow businesses to quickly swipe credit, debit or prepaid cards for processing on a smartphone or tablet in a secure manner.
Vantiv Mobile Checkout from AT&T is a tablet-based, cloud-connected payment solution that allows businesses to process payments, and access their business data. It includes an optional cash drawer, countertop receipt printer, tablet stand and encrypted card reader. Businesses also have the option to purchase tablets and connectivity through AT&T.