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This post originally appeared on the American Express OPEN Forum, where Mashable regularly contributes articles about leveraging social media and technology in small business.

Mobile payments are the logical extension of online shopping; a way for customers to buy what you have while they’re on the go. But the technology has some added perks that make it a powerful purchasing tool for small businesses.

There are a lot of resources and articles out there telling businesses to pay attention to location-based networking or to maximize their social media presences, but there is a lack of information on the monetary benefits of these investments. Mobile payments, however, are a great way for businesses to make money.

It should be noted, there are two related fields of mobile payment: First, using your phone as a credit card in-store, and second, paying while on the go. We’ll be focusing largely on the latter.

Below is just a selection of reasons that small businesses should care about mobile payments. Add your voice to the comments below: Is this just another fad? Are mobile payments still years away? Why has North America been so slow to adopt?

It’s Going to be Everywhere/>

We already use our phones for everything: Calling, texting, surfing the web, video chats (thank you, Phone), and updating our social networks. class='blippr-nobr'>Societyclass="blippr-nobr">society, by and large, has grown accustomed to using phones for daily activities. Why shouldn’t instant purchasing be added to that list?

Total worldwide mobile payments stood at USD $68.7 billion in 2009, according to a study from Telecoms Market Research. That number is predicted to rise by more than 800% in the next four years. Simple, DIY credit card processing solutions, like the Complete Credit Card Solution and Square, have already hit the iPhone market, and more services are expected in the future for all platforms.

Social Impulse/>

Phones are inherently social, and advanced functions like geo-location are making it easier for users to connect with others in their networks to share consumption habits and recommendations. Location-based services, for example, enable users to recommend their favorite restaurants, shops and others venues. And group buying sites like Groupon have expanded the possibilities for quick, social purchases.

By adding a mobile payment option, small businesses can capitalize on these peer recommendations with a purchase. Rather than direct your customers to an online shop site or have them note it down for later, they can instantly buy your product.

Mobile payments take advantage of impulse purchases; essentially when you buy something based on spur-of-the-moment decision making. class='blippr-nobr'>Impulseclass="blippr-nobr">Impulse buys are usually associated with emotional reactions to a product. They are partly why ringtone sales have been so successful. Like a tone? You can often download it instantly with just a couple clicks, no secondary sites necessary. Make sure your customers are able to buy your product the instant they want it.

Micro-Transactions/>

The real heart of small business mobile payments is the micro-transaction. Paying less is generally better than paying more. People are also more willing to pay frequent small payments rather than throw down a lump sum. Using ringtones as an example, more people would pay $1 for several ringtones than shell out $5 in one go for five ringtones.

Small business can follow this trend by selling less-expensive goods online, as smaller goods could be a real hit for the mobile payment crowd. Customers can more easily rationalize those smaller purchases and drive more sales to your business.

Another perk for biz owners is that mobile transaction fees are usually less than credit card fees. Sales through mobile could save you a small amount on every purchase.

Customer Data/>

Mobile payments enable merchants to collect data in much the same way as your everyday credit card purchases. Adding mobile payments to your business can help keep track of customer phone numbers, buying histories, and any other necessary information. Having this extra source of data about customers and their purchasing habits will enable you to offer more targeted and relevant deals, discounts and products to specific purchasers.

Collecting data can be a bit tricky, since it gets into privacy rights and issues (e.g., Facebook privacy concerns), so make sure your business is aware of how you can and cannot use customer information.

Regardless of your purposes, whether it be data, profit, or social loyalty, mobile payments are definitely an area for small businesses to watch.

More Business Resources from Mashable:

- HOW TO: Choose the Best Workspace for Your Business/> - 5 Winning Social Media Campaigns to Learn From/> - 10 Emerging Social Platforms and How Businesses Can Use Them/> - 10 Free WordPress Themes for Small Businesses/> - 8 Funding Contests to Kick Start Your Big Idea

Image courtesy of iStockphotoclass="blippr-nobr">iStockphoto, photo_smart

For more Business coverage:

class="f-el">class="cov-twit">Follow Mashable Businessclass="s-el">class="cov-rss">Subscribe to the Business channelclass="f-el">class="cov-fb">Become a Fan on Facebookclass="s-el">class="cov-apple">Download our free apps for iPhone and iPad

The late Rep.
John (Jack) Murtha (D-Penn.) was the earmark king, a politician who
didn't stint on dragging federally funded pork to his district in
the Keystone State under any and all pretenses. Channeling O.J.
Simpson, who once said that if he had killed his ex-wife,
it was only because he loved her too much, Murtha actually uttered,
"If I’m a little corrupt, it’s because I take care of my district."
Boy, that's public spiritedness, ain't it?

Murtha's legacy of shameless spending on crap nobody needed and
we all paid for via taxes lives on even though the
unindicted co-conspirator in ABSCAM lies full-fathom five. His
successor, Rep. Mark Critz, is seeing to that by earmarking $10
million in a defense-funding bill for the John P. Murtha
Center for Public Service at the University of Pittsburgh at
Johnstown. Given that this piece of junk is in a defense bill, it's
supposed to have something to do with, well, defense. But that's
baloney, too.

Wired's Noah Shachtman explains:

The 30,000 square-foot Center will primarily serve as a
scholarly debating forum for policy issues and a repository for
Murtha’s papers. But wait, you ask. How does the Murtha Center
relate to the Department of Defense? Oh, it’ll inspire “students
and the general public to become active in our communities, the
military, and in public service.” See? Military applicability.

Schactman
continues,

Murtha is hardly the only deceased legislator to be posthumously
honored with your money. Last year, Congress also added $10 million
to the defense bill to build an Edward M. Kennedy Institute for the
United States Senate at the University of Massachusetts. The
Kennedy Institute didn’t even pretend to have a military
application, but that did absolutely nothing to derail the
earmark.

More here.

And people wonder why the Tea Party is doing swell and
milquetoast establishment centrist candidates such as Mike Castle
of Delaware are getting their asses kicked finally? The earmarks
above are more than annoying. Given the military trappings of the
funding sources, they're obscene. We've got an army that was in
recent memory sent to actual wars without proper equipment (can
anyone forget Donald Rumsfeld's grotesque hand-washing of
responsibility for properly outfitting the military in Afghanistan
and Iraq?). And yet we're capable of building million-dollar
sarcophaguses to fat dead old men?

Screw you, buddy, I sez! Suddenly, Christine O'Donnell's
anti-masturbation views are making more and more sense, especially
if she keeps her pledge not to jerk off taxpayers like the bums
currently pounding the pork in D.C.

Check out Reason.tv's Porker of the Month series, done with
Citizens Against Government Waste:

Monday&#39;s <b>news</b>: Saturday&#39;s opener can&#39;t get here soon enough! - On <b>...</b>

At long last, we've got some honest-to-goodness competitive NHL hockey to look forward to this week as the 2010-11 season opens Thursday evening.

Probably Bad <b>News</b>: Breakfast Fail - Epic Fail Funny Videos and <b>...</b>

epic fail photos - Probably Bad News: Breakfast Fail.

The Birmingham <b>News</b> Pink Edition: Supporting the fight against <b>...</b>

Reports on the work being done in our community to fight the disease and sharing the stories of breast cancer survivors.

eric seiger eric seiger

This post originally appeared on the American Express OPEN Forum, where Mashable regularly contributes articles about leveraging social media and technology in small business.

Mobile payments are the logical extension of online shopping; a way for customers to buy what you have while they’re on the go. But the technology has some added perks that make it a powerful purchasing tool for small businesses.

There are a lot of resources and articles out there telling businesses to pay attention to location-based networking or to maximize their social media presences, but there is a lack of information on the monetary benefits of these investments. Mobile payments, however, are a great way for businesses to make money.

It should be noted, there are two related fields of mobile payment: First, using your phone as a credit card in-store, and second, paying while on the go. We’ll be focusing largely on the latter.

Below is just a selection of reasons that small businesses should care about mobile payments. Add your voice to the comments below: Is this just another fad? Are mobile payments still years away? Why has North America been so slow to adopt?

It’s Going to be Everywhere/>

We already use our phones for everything: Calling, texting, surfing the web, video chats (thank you, Phone), and updating our social networks. class='blippr-nobr'>Societyclass="blippr-nobr">society, by and large, has grown accustomed to using phones for daily activities. Why shouldn’t instant purchasing be added to that list?

Total worldwide mobile payments stood at USD $68.7 billion in 2009, according to a study from Telecoms Market Research. That number is predicted to rise by more than 800% in the next four years. Simple, DIY credit card processing solutions, like the Complete Credit Card Solution and Square, have already hit the iPhone market, and more services are expected in the future for all platforms.

Social Impulse/>

Phones are inherently social, and advanced functions like geo-location are making it easier for users to connect with others in their networks to share consumption habits and recommendations. Location-based services, for example, enable users to recommend their favorite restaurants, shops and others venues. And group buying sites like Groupon have expanded the possibilities for quick, social purchases.

By adding a mobile payment option, small businesses can capitalize on these peer recommendations with a purchase. Rather than direct your customers to an online shop site or have them note it down for later, they can instantly buy your product.

Mobile payments take advantage of impulse purchases; essentially when you buy something based on spur-of-the-moment decision making. class='blippr-nobr'>Impulseclass="blippr-nobr">Impulse buys are usually associated with emotional reactions to a product. They are partly why ringtone sales have been so successful. Like a tone? You can often download it instantly with just a couple clicks, no secondary sites necessary. Make sure your customers are able to buy your product the instant they want it.

Micro-Transactions/>

The real heart of small business mobile payments is the micro-transaction. Paying less is generally better than paying more. People are also more willing to pay frequent small payments rather than throw down a lump sum. Using ringtones as an example, more people would pay $1 for several ringtones than shell out $5 in one go for five ringtones.

Small business can follow this trend by selling less-expensive goods online, as smaller goods could be a real hit for the mobile payment crowd. Customers can more easily rationalize those smaller purchases and drive more sales to your business.

Another perk for biz owners is that mobile transaction fees are usually less than credit card fees. Sales through mobile could save you a small amount on every purchase.

Customer Data/>

Mobile payments enable merchants to collect data in much the same way as your everyday credit card purchases. Adding mobile payments to your business can help keep track of customer phone numbers, buying histories, and any other necessary information. Having this extra source of data about customers and their purchasing habits will enable you to offer more targeted and relevant deals, discounts and products to specific purchasers.

Collecting data can be a bit tricky, since it gets into privacy rights and issues (e.g., Facebook privacy concerns), so make sure your business is aware of how you can and cannot use customer information.

Regardless of your purposes, whether it be data, profit, or social loyalty, mobile payments are definitely an area for small businesses to watch.

More Business Resources from Mashable:

- HOW TO: Choose the Best Workspace for Your Business/> - 5 Winning Social Media Campaigns to Learn From/> - 10 Emerging Social Platforms and How Businesses Can Use Them/> - 10 Free WordPress Themes for Small Businesses/> - 8 Funding Contests to Kick Start Your Big Idea

Image courtesy of iStockphotoclass="blippr-nobr">iStockphoto, photo_smart

For more Business coverage:

class="f-el">class="cov-twit">Follow Mashable Businessclass="s-el">class="cov-rss">Subscribe to the Business channelclass="f-el">class="cov-fb">Become a Fan on Facebookclass="s-el">class="cov-apple">Download our free apps for iPhone and iPad

The late Rep.
John (Jack) Murtha (D-Penn.) was the earmark king, a politician who
didn't stint on dragging federally funded pork to his district in
the Keystone State under any and all pretenses. Channeling O.J.
Simpson, who once said that if he had killed his ex-wife,
it was only because he loved her too much, Murtha actually uttered,
"If I’m a little corrupt, it’s because I take care of my district."
Boy, that's public spiritedness, ain't it?

Murtha's legacy of shameless spending on crap nobody needed and
we all paid for via taxes lives on even though the
unindicted co-conspirator in ABSCAM lies full-fathom five. His
successor, Rep. Mark Critz, is seeing to that by earmarking $10
million in a defense-funding bill for the John P. Murtha
Center for Public Service at the University of Pittsburgh at
Johnstown. Given that this piece of junk is in a defense bill, it's
supposed to have something to do with, well, defense. But that's
baloney, too.

Wired's Noah Shachtman explains:

The 30,000 square-foot Center will primarily serve as a
scholarly debating forum for policy issues and a repository for
Murtha’s papers. But wait, you ask. How does the Murtha Center
relate to the Department of Defense? Oh, it’ll inspire “students
and the general public to become active in our communities, the
military, and in public service.” See? Military applicability.

Schactman
continues,

Murtha is hardly the only deceased legislator to be posthumously
honored with your money. Last year, Congress also added $10 million
to the defense bill to build an Edward M. Kennedy Institute for the
United States Senate at the University of Massachusetts. The
Kennedy Institute didn’t even pretend to have a military
application, but that did absolutely nothing to derail the
earmark.

More here.

And people wonder why the Tea Party is doing swell and
milquetoast establishment centrist candidates such as Mike Castle
of Delaware are getting their asses kicked finally? The earmarks
above are more than annoying. Given the military trappings of the
funding sources, they're obscene. We've got an army that was in
recent memory sent to actual wars without proper equipment (can
anyone forget Donald Rumsfeld's grotesque hand-washing of
responsibility for properly outfitting the military in Afghanistan
and Iraq?). And yet we're capable of building million-dollar
sarcophaguses to fat dead old men?

Screw you, buddy, I sez! Suddenly, Christine O'Donnell's
anti-masturbation views are making more and more sense, especially
if she keeps her pledge not to jerk off taxpayers like the bums
currently pounding the pork in D.C.

Check out Reason.tv's Porker of the Month series, done with
Citizens Against Government Waste:

Monday&#39;s <b>news</b>: Saturday&#39;s opener can&#39;t get here soon enough! - On <b>...</b>

At long last, we've got some honest-to-goodness competitive NHL hockey to look forward to this week as the 2010-11 season opens Thursday evening.

Probably Bad <b>News</b>: Breakfast Fail - Epic Fail Funny Videos and <b>...</b>

epic fail photos - Probably Bad News: Breakfast Fail.

The Birmingham <b>News</b> Pink Edition: Supporting the fight against <b>...</b>

Reports on the work being done in our community to fight the disease and sharing the stories of breast cancer survivors.

eric seiger eric seiger