The world is becoming increasingly dependent on
technological conveniences and advances, particularly when it comes to
commerce. In recent months, technology giants such as Apple (NASDAQ: AAPL),
Samsung (OTC: SSNLF) and Google (NASDAQ: GOOG; GOOGL) have demonstrated this
evolving landscape with innovative forays into the mobile payments space.
According to a study by Accenture, roughly 41 percent of consumers reported
using their phones to pay at a merchant location in 2014, up from just 17
percent in 2012. This growth is likely just the beginning. Mobile-based
payments in the United States are expected to reach $142 billion in annual
volume by 2019, according to the New York Times. For merchants, this shifting
consumer preference makes updating legacy point of sale systems a major focus
in the coming years.
Alternet Systems, Inc. (OTCQB: ALYI) delivers technology
products to financial organizations requiring solutions that can manage a wide
range of payment channels. By partnering with leading manufacturers, the
company seeks to offer innovative solutions that extend the capabilities of
payment processing systems across a full range of capture devices – including
point of sale, mobile phones, tablets, PCs and web-based applications.
One way in which Alternet is attempting to disrupt the
payment technology industry is by offering an innovative, brand agnostic point
of sale terminal to the U.S. market, which includes the largest collection of
outdated legacy point of sale infrastructure in the world. Through a strategic
partnership with the Brazilian leader in multichannel technology solutions for
the electronic point of sale industry, the company is addressing an expansive
target market that includes over 20 million merchants across the country.
In 2013, the global point of sale market was valued at
$36.86 billion, and it is expected to achieve a compound annual growth rate of
11.6 percent from 2014 to 2020. As adoption of wireless and mobile point of
sale solutions continues to increase, Alternet is in a favorable strategic
position to capitalize on this market performance while promoting sustainable
growth.
For more information, visit www.alternetsystems.com
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