The demand for mobile payments is growing.

In 2012, worldwide mobile transaction values topped $171.5 billion, nearly a 62% increase from last year. Gartner, Inc., a leading technology research company, estimates that by 2016, the mobile payment market will have 448 million users worldwide.

Although mobile payments are still more of a novelty right now, things are evolving fast. In just a few years, some people may stop carrying their credit cards entirely, in favor of NFC-based payments. If your store or restaurant is not equipped for this, it may actually hinder your business.

It sets your business apart.

Let’s face it: new technology is cool and exciting. So when the first person pays for their lunch with their smartphone, other people will notice and want to get in on the action. Mobile payments are still picking up steam, so stores and restaurants that start accepting them now will earn a following of forward-thinking patrons.

Not convinced? Consider this: one study showed that in January 2012, there were more than 101 million smartphone users in the U.S. By adding a mobile payment option, restaurants and retailers make it easier than ever for smartphone users to make purchases, even when they’ve left their wallets at home.

Waiting is excruciating.

People expect to wait, but that doesn’t mean they like it. A recently published survey showed that too long of a wait is one of the top retail customer complaints. Nearly 94% of respondents say a reasonable amount of time to wait is 5-10 minutes or less.

During peak business hours, mobile payments will help speed up the check-out process and ensure that lines stay as short as possible. An emailed receipt means an even shorter wait, no printing and signing necessary and no fumbling to change the register tape.

pcAmerica’s point of sale packages integrate with three mobile payment platforms: Google Wallet, ISIS Mobile Wallet and Paydiant. For more information about how your restaurant or business can start accepting mobile payments, please contact pcAmerica at 1-800-722-6374.