One of the Biggest Problems Mobile Payments Faces is Slow Internet

September 7, 2024         By: Steven Anderson

If your Internet access—particularly for a mobile device—is starting to seem a little slow and constraining these days, you may rest assured you’re not alone.

A new report from Internet Retailer says that mobile payments, and indeed all e-commerce applications, are suffering from a common foe: slow Internet access.

A flood of new technologies have emerged for users to take advantage of, like virtual reality shopping experiences and the like, the big problem is that one technology has not really kept pace: Internet access speeds.

These are in turn producing poor user experiences, and retailers thus aren’t in a mind to bring in an experience that will be sub-par and turn off customers right off the bat.

Naturally, this has users looking squarely at Internet service providers (ISPs), who are working to turn things around.

One of the biggest developments in this space is the growth of 5G, the newest connectivity standard which is set to deliver speeds and bandwidth comparable to fiber optics, but with wireless reach. That could be a big step forward right there, but 5G isn’t set for commercial release until 2020. So what do we do in the meantime?

Land-based providers have been stepping up offerings, thanks in large part to the emergence of Google Fiber, offering gigabit access in several cities. Google has been pulling back on that development, however, looking more into wireless connectivity.

Wireless providers have even been stepping up; Sprint put $150 million into its infrastructure and is working on what it calls LTE Plus. Verizon has been moving on what it calls LTE Advanced as well, and that’s just a start.

While providers have been working on stepping up bandwidth availability, demand is far outstripping these modest gains.

With more options in streaming video, in the Internet of Things, in in-store beacons and a host of others, we’re looking at an eight-lane freeway of traffic trying to push through roads better suited to oxcart traffic.

ISPs are working hard on developing asphalt for the road, but that’s still a comparatively weak response.

We must have better access if we’re going to put these new technologies to work, and it’s getting to the point where individual retailers may have to take this bull by the horns themselves and invest in upgrades just to open up the new technology customers want.