Mobile Wallets Continue to Increase

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Mobile payment transactions are on the rise, with market researchers expecting an increase of more than 200% in mobile payment transactions in 2017. This trend has left many courts, government agencies, and legal agencies wondering how the growing popularity of mobile wallets will affect court and other payment processing.

Mobile Wallets Defined

mobile wallet, as its name implies, is simply a virtual version of a physical wallet. It can store payment debit and credit card information, coupons, reward cards, and the like on a mobile device, enabling users to pay merchants who offer mobile payment services. Mobile wallet services, such as Apple Pay and Android Pay, ease the payment process for both users and those accepting payments.

Benefits of Mobile Wallets

Gartner forecasts that the worldwide mobile payment market will have more than 450 million users and a transaction value of more than $721 billion in 2017. With this incredible surge in the adoption of mobile payment applications and services comes opportunities for both government agencies and their citizens. So, what are the benefits to offering mobile wallet services?

  • Decreased payment time. With transactions processed immediately, payment reaches the agency quickly and efficiently.
  • Better security. Mobile wallets are more secure than their physical counterparts, giving users and agencies better peace of mind.
  • Convenient and efficient. Paper receipts are always inconvenient to keep. While it is important to keep a record of your transactions, paper receipts are not convenient nor efficient. Being able to have utilized mobile wallet services eliminates that stress.

Mobile Wallets Increase Payment Options in Government Agencies

As with financial institutions and retailers, government agencies can benefit from the flexibility and ease of use offered by mobile payment transactions. By giving citizens the ability to pay with debit and credit cards, Apple Pay and Android Pay, government agencies enable convenient payment in whatever format works best for citizens. This approach helps ensure quick and timely payment without processing hassles and overhead and enables courts and government agencies to improve customer service while reducing processing burden.
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What is Mobile Point-of-Sale (mPOS) Technology?

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Mobile point-of-sale (mPOS) technology enables payment through online, tablet, and mobile phone avenues and it is growing in popularity by the moment. Basically, with an mPOS app installed, this technology makes a wireless device act as a cash register or electronic point-of-sale terminal. The app is linked to the users’ credit card or bank account, and the business or organization taking payment simply uses a digital reader to conduct the whole transaction. So instead of carrying a wallet and checkbook and going through a manual payment process, mPOS simplifies payment by using whatever wireless device works best for the user.

A report from Global Market Insights reveals the current widespread adoption of mPOS technology as well as its bright future. According to the report, mPOS terminals will have a compound annual growth rate of more than 19% from 2016 through 2023. At this rate, payment via wireless technology will quickly become the norm from industries ranging from healthcare to grocery shopping.

Mobility Equates to Convenience for Courts and Citizens Alike

Enabling citizens to make payments via mPOS terminals is a win-win for both courts and payees. The convenience of mobility offers the following benefits to courts and citizens alike:

  • Reduces overhead costs
  • Makes it convenient and easy to make payments
  • Increases productivity and simplifies the process of those taking payments
  • Eliminates the time delay of payment processing

How mPOS Increases Value

mPOS technology is quickly and continually evolving. As such, current mPOS terminals provide additional value to judiciary systems and the citizens they serve. These developments are making it even easier for citizens to make payments wherever and whenever it’s convenient, saving time and effort for courts. The reality is, it’s become critical for all service providers (including the courts) to keep a pulse on technology. Although there are—and always will be—other payment options available, mPOS has proven to be the preferred payment option for everything from hamburgers to doctor’s visits. As such, courts need to ensure their technology can interface with citizens’ mobile payment preferences. As this technology becomes more available to cash paying citizens, courts should be focused on making mPOS a viable form of payment before the market opens—not after. Early adoption and staying ahead of the curve ensures public trust and positive opinion and eases the processing burden on courts.

Omni-Channel Payments are the Optimal Option

The rapid widespread adoption of mPOS highlights the importance of omnichannel payments. With nCourt, you can offer citizens’ multiple payment options, including online, phone, or at the counter in your offices. Our innovative payment solutions offer citizens the ability to pay for traffic citations, parking tickets, restitution, court fines and fees, probation, and more using a major credit or debit card and with no processing costs to you. In fact, citizens can pay using any mobile device, including smartphones and tablets. Simply request your free payment processing demo and we will be happy to provide an overview!
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