3 facts you need to know for mobile merchant processing services
Many businesses today are capitalizing on the benefits of accepting payments via a mobile device, such as a smartphone or tablet. Accepting payments on a mobile device allow you to take your business outside the physical confines of a brick-and-mortar location. Particularly during warm weather seasons, accepting credit card payments from customers at outside venues such as farmer’s markets, food trucks, festivals and fairs can be a great boost to your business. You'll be able to get out in your community, earn exposure for your business and make more sales.
How mobile payments processing works
You might be surprised to learn that the setup time and costs are often quite low for mobile payment processing. Often you can even use hardware you already own, and you can get started running payments on a mobile device in just a few easy steps:
- Download the POS app for your processor
- Register for an account to connect your device, your business and your bank account information
- Plug in the card reader dongle (usually in the microphone jack in your device)
Here are three facts to know about mobile merchant services and what they mean for your business.
Fact #1: Mobile payment processing is virtually just as secure as an in-store terminal or POS system.
Today’s mobile payment processing is encrypted and protected in much the same way as transactions at your physical store are protected. All sensitive customer data captured and transmitted on a mobile device and sent through the payments app can be protected end-to-end for peace of mind for you and your customers.
Fact #2: You don’t have to have an active cellular data or WiFi connection to accept card payments.
You never know where business might take you—and mobile payments processing will be ready to roll wherever you are. Even if you far afield and don’t have a cellular data or WiFi connection, you can still accept payments, which will be safely stored in the POS app and can be run as soon as you’re back to a data connection.
Fact #3: Mobile merchant processing services will help you grow your business!
It’s true: accepting credit and debit cards from your customers, wherever business takes you, will help you to increase your tickets, attract new customers and gain more exposure for your business. Consider this: a study by Javelin Strategy & Research found that by the year 2017, only 23% of POS transactions will be made with cash. Your business can’t afford to be missing out on the majority of those transactions that customers will be making with credit and debit cards. Many people today don’t regularly carry cash, so make sure you can capture their business too.