The answer for most card not present subscription merchants is an overwhelming “not much”. While mobile payments remain a hot topic and are the focus of much media attention, there isn’t necessarily a consensus on what mobile actually means. For some merchants, it refers to payments using near field communications (NFC) while for others it means simply using a mobile device, such as an iPad, to shop online.
The payments revolution is much more meaningful to point of sale retailers. Enabling small businesses to grow by accepting payments through a mobile device via a tool like Square or speeding up transactions in London’s tube by offering NFC payments are shaping up to have a real impact on how merchants conduct business – in the physical world.
In the virtual world of card not present transactions, the impact of the mobile revolution is still unclear. For recurring billing merchants, it’s possibly even murkier. New currencies like BitCoin and other payment methods could have a greater impact on CNP merchants in the near-term. The focus for CNP merchants should remain on decline prevention and recovery strategies, fraud prevention, and improving processes while keeping an eye open on the future while the brick and mortar world helps mobile payments platforms work out their kinks.