Can Android Pay change your business?
One name still rises to the top in the smartphone ecosystem: Android. According to the latest smartphone data (February 2017) from Kantar Worldpanel, the Android operating system still holds 55.9 percent of the U.S. market share.
What does that mean for you as a business owner? Android Pay, that’s what.
Android Pay is a digital wallet developed by Google that enables simple, contactless payments between your customers’ mobile devices and your point-of-sale (POS) terminal or system. A simple wave or tap of a smartphone at checkout, and your customer pays quickly and securely.
Android Pay came on the scene in Fall 2015 as a more thoughtful, more advanced replacement for the older Google Wallet. Since then, most smartphones––other than iPhone which uses Apple Pay––use the Android operating system on their devices. Even most Samsung Pay digital wallets, installed on Samsung mobile devices, now use the Android operating system.
In the proverbial nutshell, Android Pay is today. It is the future. And, yes, it could very well change your business for the better.
How are consumer trends affecting digital wallets?
Okay. So, only 7 percent of consumers use a digital wallet on a daily basis. That may seem like a small percentage. But when you consider that 7 out of every 100 customers who enter your store every day are ready, willing and eager to buy from you using a digital wallet (aka “mobile wallet”), you’ll recognize it’s a significant number.
And, adoption is growing––particularly among younger, “tech-attached” consumers. Not only are they tech-savvy, but younger consumers consider their mobile devices to be an extension of their lifestyles and their lives.
In fact, about two-thirds of Millennials have already used a digital wallet, and they are setting future trends in mobile payments of all kinds.
With nearly 60 percent of the total U.S. market share using an Android device, you, as a small-to-medium-sized business (SMB) owner or operator, can’t ignore the potential of the Android Pay digital wallet to grow your business.
Android Pay. What’s the customer experience?
You might be surprised at the seeming simplicity of this payment technology. Of course, a lot is going on behind the scenes to verify, authenticate, secure and process payments, but your experience and the customer’s experience at checkout is nearly instantaneous.
Getting started is simple, too.
First, your customer simply installs the Android Pay app onto his or her Android device from Google Play, then adds credit card or debit card information into the app. There’s no need for a customer to carry credit cards. A simple tap or wave near a POS device is all it takes to pay in-store.
Another huge benefit: Android Pay is being used in a multitude of customers’ favorite apps, as well as when making online payments on Chrome. They just select Android Pay at checkout, and they don’t have to replicate all of their information. It’s already stored in their Android device. Mobile payments have never been this easy––in-store, online and in-app.
Take a look at the big name businesses already using Android pay in-store and in-app. You may be surprised. It’s everywhere.
Android Pay is being used by all types of businesses from Whole Foods to White Castle, Petco to Panera, Texaco to Trader Joe’s, Walgreens to Winn Dixie, Sephora to Staples, Ulta to Uber. From Arco to Zappos, Android Pay is used at the A-to-Z of well-known businesses.
And your business can easily jump on the bandwagon––well, maybe “rocketship” is a more appropriate term.
What does your business need to accept Android Pay?
Best news all day: you may already have everything you need to get started accepting payments with Android Pay.
If your business––like many others in the U.S.––upgraded to an EMV-enabled chip card reader in recent years, you very likely also have what it takes to accept contactless payments such as Android Pay. Namely, near field communications (NFC), a type of radio wave that securely transmits data from a mobile device to your POS terminal, just by the proximity of about 2-3 inches. That’s why a wave or tap near your device with a smartphone is all it takes to accept a credit card payment in-store.
You can also build Android Pay into your website by adding the Android Pay button. It makes buying online simple for any customer already using Android Pay.
Talk to your payments processor or merchant services provider for more information. They may need to “turn on” your NFC function, and they can help guide you and your developer about adding Android Pay to your website.
Plus, Android has designed their platform to work with top payments processors, such as Braintree, First Data, Stripe, Vantiv and others to make technical integration easier.
What are the benefits of Android Pay to your business?
• Efficiency. Let’s start with faster lines in-store. That alone will impact your business if you can check out customers more quickly, particularly at rush periods. Inevitably, that means more sales.
• Loyalty. Think easy rewards and repeat business. You can easily build a loyalty program into Android Pay, so every time a customer buys from your store they earn points or discounts or promotions. It’s a great way to create loyal customers.
• No Fees. When customers use Android Pay to make a purchase from your business, you pay no extra fees––only the standard fees you already pay to processing credit cards.
• Faster online sales. A simple click on the Android Pay icon allows customers to pay in seconds, without having to be directed to a third party payment system. Who wouldn’t return to your site if you make online purchases this easy?
• Security. Android Pay used card tokenization to disguise your customers’ data and reduce the risk of breaches and fraud. That’s a benefit to both your customers and your business.
Get ready, get set, accept
If you have newer POS equipment at your business, Android Pay is easy to get set up. You may already be ready to go!
Next step, if you have a brick-and-mortar store, let your customers know you accept Android Pay. Order your in-store decals today. Post them near checkout, tell your cashiers to mention Android Pay as an option, and witness the change it makes in your business.