4 Reasons Why Your Business Should Accept Mobile Payments | Hacker Noon

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In an age where our daily lives are interconnected to technological advancement, it may be time to consider using a mobile device to make payments while on the go. We live in a world operating on ease and immediate response, so it may be time to convert towards this new, innovative option.

As a customer, it has never been easier to pay for things at a faster, more efficient rate. The accuracy and accessibility of using a phone to make transactions eliminate so many headaches for today’s
consumers.

Say goodbye to the days of paper money, and
hello to one of the most beneficial technological advancements to
date.

1. Need for Speed

One of the biggest pushes for any business, big or small, is to explore the use of mobile phones or tablets as a device for revenue is the sheer convenience.

If your company travels or participates in sales markets outside a traditional storefront, having a reliable, safe, and secure way of
obtaining payment is a priority.

Shops who curve this pebble by advertising their business as cash only are just prolonging their journey to this path as cash transactions are messy and lengthy, particularly if exact change is requested.

While wrestling with dollar bills someone at the other side of the table could be making use of their five-finger discount. As an entrepreneur and respected businessperson, you would take all precautions to avoid this from happening.

Eliminating the chaos by investing in one of these mobile
payment options will certainly pay off in the long run. In general,
you will be looking at adding a mobile option with a traditional
payment processor, or you will choose an aggregator that specializes
just in mobile.

2. Ensure Payments

One of the most romanticized ways to steal is the notorious dine and dash, where an individual or group of people slip out after a meal just before they pay their bill.

Not only is a business left out to dry, but the employees are sometimes required to pick up the weight of the bill with their own paycheck or tips. This scenario and similar which other businesses may find themselves in can be avoided with the use of mobile payments.

Without imposing or rushing a party out to dinner, you can simply have them pay at the table with a quick swipe of the card or tap of the cell
phone. This will relieve the pressure from both those working in the
food industry and those choosing to spend their money in it as it
cuts out the waiting game of when to bring the check.

It also cuts down on the amount of paper needed as a hard copy of the receipt is printed upon request only. Keep track of who has paid digitally for simplicity and accessibility.

3. Save Time, Skip the Line

Another positive point to make regarding the ability to pay from anywhere is the elimination of long lines to reach the register. This principle applies to any business which sees spikes in customers at different times of day or different days of the week.

After waiting to try on clothes in the dressing room and making your selections, there is still more waiting to do as you stand in line for the next available register to open.

The stress of a long line weighs heavily on the customer but even more so on the employees which may become fatigued after getting no break in
checkout for hours during a shift.

Rather than having attendants posted behind the counter, standing in place, employees can be floating around the store helping customers and checking them out all at the same time. This may boost customer service morale as well, as just one employee helps a customer from the greeting to the farewell.

If you have one entrance and exit, easily prevent theft by
placing one employee by the door to check the bag and online receipt
to ensure all items are paid for and you are golden.

If there is more than one entrance/ exit such as a retail store in a shopping
mall, one could implement a daily stamp system, where once a customer
is verified to have paid they receive a sticker or stamp on their
bag to notify other employees that this customer has been stopped
before.

It is important to note that each day or weekly notification
should be unique to avoid people duplicating a sticker in an attempt to
steal items.

4. No Operating or Repair Costs for Registers and Card Terminals

Traditional terminals are large cumbersome machines which are controlled by private companies, charging you fees after you have already bought the equipment to use their software.

While they are often attached to cash registers to make quick change, there are inconveniences associated with older operating systems such as these. A malfunction of the terminal could put a dent in the revenue for the day and then cost you more money to fix the problem. Mobile payment devices are simple and just as effective, if not quicker, at processing payments.

Most devices are attached to the phone or tablet itself, often plugging into the headphone jack or charging port, or they are handheld connected to
the device via a cable. If a card reader begins to glitch one can easily
replace the connector, recharge the original, or restart the device
to problem solve and soon it will be good as new, with no hiccups
included and no extra cost to you.

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