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News & Press: WIPP Legislative Updates

Congress Takes a Look At Industry Disrupters

Monday, December 14, 2015  
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Congress Takes a Look At Industry Disrupters

As part of a series examining industry disrupters, the House Energy and Commerce Committee examined mobile payment platforms.  Mobile payment platforms allow small business to accept payments using a smartphone, tablet, or other mobile device.

 

Focusing on the positive aspects of this market disrupter, House Committee Members examined the advantages that convenient and adaptable payment processing options provide for small businesses and consumers. In addition to payment processing, the Committee examined other benefits of this technology including invoice, payroll, and analytics services. Business owners can receive reports of receipts and deposits from the mobile payment operator, which can save accounting and processing costs.  This flexibility allows services to be performed at any location without a point of service terminal or invoicing process. Entrepreneurs and mobile business owners can watch the full hearing on mobile payment technology here

 


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