Think about the traditional setup of a retail or restaurant business: there is either only one payment terminal, or there is more than one, but they are only located in specific spots throughout the establishment. While this layout is common, it is sometimes inconvenient, and it could lead to risk for customers paying for goods and services with credit and debit cards. Yet a new option exists today the seeks to change how business is conducted when customers pay with a card. Because of consumer demand and technological advances, mobile card payments are now being accepted around the world.
What are mobile payments? Mobile payments use mobile technology, such as tablets and smartphones, in order to process credit card transactions. These types of payments are processed just as they would be at any other terminal, only they take advantage of mobile technology for businesses that operate in one location or on-the-go. These types of merchant services are beneficial for businesses for a variety of reasons, such as…
- Security Mobile card payments are processed by the same providers who handle credit card transactions for your payment terminals, including virtual ones online. They meet PCI standards for security and transfer funds through encrypted connections, so data breaches won’t have to be a concern for businesses or their customers. That security extends to both traveling businesses and those that operate in one place. For example, in a restaurant, customers won’t have to worry about a server misplacing a credit card. With mobile payments, their meal can be paid for right at their table without having to get up or lose sight of their credit card. This protects customers, and it guards your employees from accusations of theft or fraud.
- Convenience Just as customers won’t have to get up or worry about a card go missing in a restaurant, mobile card payments have advantages in retail spaces, too. If there’s a long line at one cash register in your shop, an employee can take lighter transactions using a mobile payment terminal on a tablet or smartphone to move customers along. This is especially advantageous around the holidays when stores are busy.
- Mobility Finally, if your business travels to different locations, such as festivals, conventions, or other gatherings, you can take credit card payments. This offers a simple options for customers who otherwise might not have cash on them. It can also give your business a professional appearance to show that you care about bringing in all types of revenue. Additionally, you will have the ability to turn down checks if fraud has been an issue for your business in the past. Now you can say “cash or card” instead of “cash only.”
Want to know more about the advantages of mobile card payments for business? Talk to your payment provider to see what options they offer. If your merchant card services company doesn’t support mobile payments, ecommerce.com/articles/975-Ecommerce-Know-How-Understanding-Your-Payment-Processing-Statement” Title=”Read more on Accept credit cards online free”>find out which other payment processing companies can perform these transactions for you. If you have any general questions or advice on using mobile payments solutions, leave a comment.