The Benefits of adding mobile payment solutions to Your Business
Whatever their industry or size, today’s growing merchants are reaping the benefits of using mobile payment solutions. A mobile POS system allows you to accept payments wherever business takes you, which can help your business grow through increased customer engagement, improved flexibility and a better overall customer experience. Read on for ways that merchants can use a mobile POS system to help boost their bottom line:
Close more sales
Mobile payment processing technology allows merchants to accept more payment types and broaden their customer base, which means they’ll be empowered to drive more revenue. Simply attach the card reader to a smartphone or tablet, and you are ready to accept payments wherever business takes you. Expand your business to new venues and customer types by selling your products at farmer’s markets, festivals or trade shows. Today’s customers expect to be able to pay using a card—or even their smartphone—everywhere, so make sure your business offers this convenience.
Reduce queue time
Using mobile card readers in your locations also enable you to deliver better customer service and reduce wait times. Don’t risk a customer walking out the door because he or she doesn’t have time to wait in a long checkout line. Instead, you can equip your sales associates with mobile credit card processing tools so they can serve more customers, more quickly right on the sales floor. When your team is able to meet and speak with customers right in the midst of their purchase decision, they can more effectively engage with each customer on a personal basis and offer relevant upsells. When sales associates accept payments on a tablet right on the sales floor, they can simultaneously take advantage of the opportunity to pull up specific product data for customers to let them know which additional products might suit their needs.
Enable diners to pay from the table
Mobile payment solutions certainly aren’t just for retail stores. Restaurants are also a key industry that can benefit from mobile payment processing tools. Some of the largest U.S. eatery chains have installed tablet devices at each table, allowing diners to pay for their drinks and food on their own time so they don’t have to wait for the server to bring their bill. Recent research has found that over 50% of restaurant visitors are currently interested in using this type of technology if it were available at the restaurants they frequent.1 Don’t get left behind in the popularity of this new technology.
At-table payments technology can also help increase ticket size. Tablets equipped with POS systems can be programmed to display targeted ads at certain points in the dining experience, encouraging patrons to purchase another round of drinks or to order a dessert to share. When diners order their next round of drinks or a dessert right from the tablet at their table, your staff are freed up to more quickly deliver food or clear tables for other guests.
Happy customers = loyal customers
When guests are happy with your product and the experience they receive from your business, they are more likely to be loyal, repeat customers. Accepting payments via a mobile device helps to improve the customer experience, which can, in turn, help to boost loyalty. Using a mobile POS system enables your staff to better communicate with each other, allowing them to serve your customers better and more efficiently.
For example, in a restaurant, accepting payments via a mobile device right from the table can significantly decrease the time it takes for a server to accept payments—especially over the course of a busy day. In a retail store, your sales team can meet the customer right where they are, on the sales floor, to accept payment via a tablet without risking losing the sale to long wait times. Having the tablet in hand also enables your associates to quickly search inventory and make personalized product recommendations as they’re interacting one-on-one with the customer. Your customers will appreciate the individual attention and quick access to product information.
Access actionable data quickly
If you’re a small to mid-sized business, you know that scouring your payments data for ways to improve your operation can be a tedious process that often falls to the wayside. By implementing mobile payment processing technology, you can more easily track customer data. Use this data to implement new campaigns and promotions and to increase revenue. You’ll also have quick access into the behavior of individual customers, including how frequently they come in, how much they spend and what their preferred payment method is. Restaurants can also use data from their at-table POS systems to understand how diners use the technology and what their most popular orders are. Use this information to deliver more options based on what real customers want and to tailor your offerings based on customer behavior.
When you implement mobile merchant services, you give your customers more options for how to pay. What’s more, you’ll also reap many benefits for your operations and your staff. You can expand your business to new locations, gain actionable insights on your payments processing and improve the customer experience. Contact your payments processor to get started accepting mobile payments now.