Mobile Payment Solutions Can Increase Sales and Boost Profits
The days of going into a store and taking things to a register to check out is changing every day. There are two ways to deal with this evolving situation: sit back and dream of the "good old days" or evolve your business by adapting to the future. As a small business owner, you know that making sales is the lifeblood of your company, and that taking measures to grow your customer base to get a competitive advantage in your marketplace is key. That is why you should consider mobile payment solutions. Solving for mobile payment solutions is two-fold. First, there's accepting mobile payments as in mobile wallet acceptance—think Android Pay, Apple Pay or Samsung Pay. Then there's accepting payments via mobile devices such as a smartphone or tablet that's either integrated with your point-of-sale system or that you're able to take on the road with you, say to a street fair or entertainment event so you can accept payments on the road. Let's look at the two.
Accepting Mobile Payments
Customers use smartphones and other handheld devices every day. They're using them more and more when they shop to browse, compare, and purchase. And, as the availability and number of mobile wallets grows, being ready to accept them is a smart option for many businesses. Consumers, driven by convenience, loyalty or security, increasingly see payments enabled through near field communication and other technologies as easier and safer. Looking at your typical customer and typical purchase, you should consider whether mobile wallet acceptance is important for your business. Mobile wallet acceptance will also drive what terminals or systems you need to use for processing and may influence your decision to upgrade.
Taking the Sale on the Road
Consumers are more mobile than ever—figuratively on devices and literally always on-the-go. Many business are on the move in both ways as well. You're selling at street-fairs or pop-up booths or special one-time events. You might also spend a lot of time walking the store floor helping customers. For many businesses, mobile payment solutions that put the power of a register into a smartphone or tablet means that you can take the store on the road or help a customer check-out in real-time on the store floor.
Selling on demand today means that your business is prepared to take more kinds of payments from different kinds of consumers. It also means that you're ready to go mobile and sell on-the-go beyond just the traditional checkout counter.