Businesses stand to save up to 20 percent in cash sales expenses from advancements in mobile money payments technology, according to specialist payment advisory firm Mobile Money Consulting, with consumer goods companies in the emerging markets standing to benefit the most.
According to a new White Paper published by the London-basedMobile Money Consulting, companies can reap hugely in the mobile money technology developments. The emergence of mobile technology offers corporations a unique opportunity to eliminate much of that expense, reduce inefficiencies and enable the mobile payments ecosystem from the top down.
Sanjiv Purushotham, senior business leader, business expansion, MasterCard Middle East Africa, attests to this claiming there has never been a more opportune time to make efficient payments in the corporate supply chain system than now.
Mobile money technologies have been for a long time been consumer-led and focused. However, the White Paper notes that technological advancements in this payment method are opening up new opportunities for companies to collect money in a more effective way, and getting rid of the extra expenses that come with collecting money using traditional methods like VISA cards, Cheques and cash.
Most corporate are already seeing this new opportunity and Hannes Van Rensburg, Group Country Manager, Visa Sub Saharan Africa and CEO Fundamo – a Visa Company said: “I believe Corporates will begin using mobile payments and related technology to forge more connections with consumers and with each other.”
The publication places into context the overall advantages of mobile payments to corporate, by examining several business cases where this new payment technology was adopted.