As 4G Networks Become More Prevalent So Will Mobile Payments

4G Mobile Payments

As more consumers purchase items through their mobile devices, more companies are beginning recognize the importance of ensuring quality mobile Internet service. Consumers increasingly use their iPads, tablets and smartphones to surf the Internet for work, recreation and shopping. Naturally, consumers become frustrated when their mobile Internet connection is slow. Where mobile commerce is concerned, irritatingly slow connections can be devastating as they can actually cause multiple charges to be placed in online transactions. These issues could drive consumers away from mobile purchases if they happen repeatedly.

Faster Mobile Speeds Serve Consumers Better

Faster mobile Internet speeds are clearly necessary to foster growth of this part of the consumer market. In the mobile payment field, one of the biggest financial giants, MasterCard, has stated that the current quality of mobile Internet connections isn’t good enough for the long-term development of consumer activity on mobile devices. According to MasterCard, 4G networks give consumers a connection speed that makes mobile purchases safe and enjoyable and enables a more dynamic relationship between consumers and retailers through improved connectedness.

Businesses Modernizing Under Pressure

Historically, high-speed Internet has been the domain of at-home computer usage. Only recently, tablets and smartphones made it possible for people to take advantage of mobile Internet outside of the home. In relatively little time, consumers have adopted daily mobile Internet usage in numerous areas of their lives. Many people now rely heavily on the availability of mobile Internet, which means that businesses have a greater responsibility to pay more attention to their presence in this space and develop ways of working with consumers in the mobile environment.

Lack of Preparation for 4G Technology Among Businesses

MasterCard says that on the whole, businesses are increasingly seeing the importance of accepting mobile payments and the essential role 4G Internet availability plays in the growth of mobile commerce. However, the company has also stated that many merchants are presently unprepared to handle 4G speeds because their services were originally designed to accommodate the slower speeds of older mobile Internet. In the future, the pace of mobile commerce growth is likely to push businesses to adapt their services in order to remain players in this promising market.

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