5 unique ways to incorporate mobile merchant credit card processing
The following is a guest post by John Rampton, founder and CEO, Due.
More consumers and businesses are using their mobile devices to research and make purchases. As a business, you may want to consider accepting mobile payments. You don't want to be tied to always relying on credit card processing machines.
There are various solutions now available through the rapid advancement of technology. You may choose to add mobile merchant credit card processing to your business and use it in unique ways:
1. Swipe or no swipe:
New apps provide a way to avoid swiping a credit card so you can also use your mobile credit card processing even when the card is not present. Instead, you can send invoices via email or text and the transaction can be completed in a matter of seconds. Customers can get their purchases done quickly, helping them skip long lines and raising the impression of a great customer experience in their minds. You can still use mobile swiping devices to divide and conquer those lines in your retail operation. Working to effectively speed transactions is always good for customers.
2. Take a picture:
Another way to avoid swiping is to take a picture of the credit card. This records the data just long enough to complete the transaction and reduces the chances of fraud. The data and picture is not stored on the mobile device. Customers can be assured that their information is safe and you are completely compliant. This approach to incorporating mobile card processing also saves considerable time. It also provides a way to complete a transaction anywhere at anytime. This includes the ability to take your retail operation on the road with you. Mobile selling at festivals, events, trade shows and other places makes it so you might be able to add a greater revenue.
3. Leverage the on-demand trend:
The latest trend for consumers and even businesses is the preference to buy from one device like a smartphone. The ease to pick up the merchandise in the store or the order from a restaurant adds convenience. This has also been viewed as a way to speed a purchase so customers can get in and get out without the hassle. The on-demand trend has also allowed retailers to add more sales.
Restaurants that can offer a to-go or delivery option to their business with an online ordering system have increased revenue. This process will use mobile merchant credit card processing to complete the transactions.
4. Turn it into a marketing tool:
These mobile merchant platforms aren’t just for processing credit cards. They can become highly effective marketing channels. For example, you can email receipts to your customers that contain surveys, promotions, and coupons. You can list loyalty points customers can accumulate after each transaction.
The ability to offer a mobile wallet means that you can add promotions and deals to it, furthering the bond you are creating with your customers. Finding encouraging ways to allow customers to make additional purchases is they wish is good business.
Other opportunities for marketing include localized offers tied to GPS. These will send personalized specials to customers’ mobile devices when it senses they are close to your retail operation. Tied to the ability to deliver on the on-demand trend noted above, and you have found an easy way to boost your bottom line by stimulating sales.
5. Gather customer intelligence and insights:
These mobile credit card processing systems contain considerable data that can be analyzed and assessed for specific patterns. This information includes ways to better understand your customers.
To better understand your customer you need to know why, and how they prefer to buy. Determining when these preferences have changed or even why someone has suddenly stopped buying from you is important. Linked to your mobile email marketing efforts, you can then deliver updates, events, and specials directly to their mobile devices. Based on these insights you have gathered from this data you can better serve your public.
Mobile payment processing is offered by companies that understand the value of providing varied solutions. Designing ways to improve your standing with customers and prospects grows your business. After all, the more tools these processing partners can offer you, the more business you generate, and the more benefits the client receives in the process.
Adding these types of card processing options are affordable to businesses. Incredible returns on your investment that makes it well worth your effort to update your strategy. With more people on their mobile devices, you want to make sure that you are reaching out to them on their preferred channel. Don't be the business that misses out on the opportunities to grow your business, because you didn't update.
About the Author
John is best-known as an entrepreneur and connector. He was recently named #2 on Top 50 Online Influencers in the World by Entrepreneur Magazine and a Blogging Expert by Time.
He currently advises several companies in the San Francisco Bay area.