AT&T, Vantiv Partner on Mobile Payments for Businesses
Communications giant AT&T and mobile payment solutions specialist Vantiv are teaming up to help businesses of all sizes implement on-the-spot mobile payment products and services.
Vantiv Mobile Checkout from AT&T is a tablet-based, cloud-connected payment solution that allows businesses to process payments and access their business data from anywhere. It includes an optional cash drawer, countertop receipt printer, tablet stand and encrypted card reader. Businesses can also add additional hardware including barcode readers, Bluetooth-enabled receipt printers and more.
Vantiv Mobile Accept from AT&T is a mobile app for Android and iOS devices that utilizes a card reader to allow businesses to securely swipe credit, debit or prepaid cards for processing on a smartphone or tablet. Businesses can also view, analyze and export Mobile Accept payments using a Web-based reporting portal.
Vantiv mobile payment solutions from AT&T start at $14.99 per month, and the company noted options for hardware leasing and data plans are available to suit a variety of business needs.
The offerings support emerging sales and payment structures that could benefit field service providers, such as plumbers and heating and cooling technicians, who could accept card payments at customer homes, instead of calling in payments over the phone or mailing bills later.
The platforms could also benefit restaurant owners, who could offer a tablet-based, table-side payment option during their busy hours to speed table turnover, as well as retailers, helping them capture and process customers’ email addresses upon payment and running email marketing campaigns to achieve increased customer traffic.
"Mobile devices and platforms continue to revolutionize the business of selling," Mike Troiano, vice president of advance mobility solutions at AT&T Business Solutions, said in a statement. "Vantiv mobile payment solutions from AT&T can empower businesses of all sizes to seize the mobility opportunity. This is the latest example of AT&T’s commitment to deliver the most advanced mobile ecosystem in the industry for our customers."
Additional benefits include the ability to manage multistore inventory, employees and timekeeping, drive loyalty and increase sales with email marketing and social media campaigns, and live 24/7 customer support with payments industry expertise and AT&T sales support.
"Working with AT&T is a perfect way to offer businesses a one-stop-shop for integrated mobile products," Elizabeth Rector, senior vice president and general manager for e-commerce and mobile at Vantiv, said in a statement. "AT&T’s sales force and its retail locations create a powerful new distribution channel for Vantiv’s mobile products to reach the millions of businesses who need this important functionality. Together with AT&T, we can help businesses stay ahead of the technology curve, be more efficient and effective and operate their companies anytime and nearly anywhere."
Forrester Research projects that U.S. mobile payments will reach $90 billion in 2017, representing a 48 percent compound annual growth rate from the $12.8 billion spent in 2012. Proximity payments will reach $41 billion, making up nearly half of all mobile payments in 2017.
The report, released last year, said lower barriers to adoption, increased convenience, and early entrants striving for scale would be important drivers of growth.