Online purchases account for close to 20% of our country’s GDP. And credit card transactions accounted for more than US$800 million spent by US customers in 2016, with a large portion of that amount being credited to online shopping. Pair these facts with smartphone penetration on the market, and it is easy to see how 2017 will be the year of mobile commerce. For online stores, creating a smooth mobile shopping experience and accepting credit cards and mobile payments are two things you need to be successful.
Fortunately, there are more payment solutions available to businesses than ever before, according to studies complied by Rutgers Online and its Business Administration degree program. Mobile payments are much easier to integrate today, with services such as Swipe and PayPal leading the market for payment processing.
For the complete credit cards and mobile payment statistics, read the full infographic below.
This infographic was created by Rutgers University.