The Crystal Clear Business Benefits of Mobile Payments

Business Benefits of Mobile Payments-Chispa MagazineIf you aren’t embracing mobile payments for your business, why not? You are missing out and here are a lot of benefits that come with the ability to take payments while on the go. Today, we’re going to go through some of the compelling reasons why every business should be aiming to go mobile.

It will save you money. When you consider the costs of running a traditional POS system, they soon add up to a significant amount. You have to pay for the printers, receipt tape, and the staff to control them. There is also the time cost where customers are writing to pay, but can’t because of queues. And, again, there are the lost sales for when that customer has to leave the store because they don’t have time. Mobile payments allow you to take payments through the mobile devices they already own. You can cut out the costs of paper, too, by texting or emailing receipts.

It’s a competitive market. The mobile merchant industry has exploded in recent years, and every provider wants to get involved. The result? You can expect cheaper rates and better service than ever from credit card processing companies who are keen for your business.

It’s for the consumer’s benefit. The concept of mobile payments exists because consumers want it. It’s an entirely consumer-focused technology, and if you aren’t using it, your customers will soon be asking why. In short, it helps you provide a much more convenient service to your clients. It helps you adapt to their needs in real time. And it will ensure that your business loses fewer customers when massive queues start to form.

It’s for your benefit. Customer hesitancy? Forget about it with mobile payments. Big queues equal a lot of thinking time. And customers can often make quick decisions that they don’t want to make a purchase anymore. With the added convenience of mobile payments, staff can target the consumer and strike while the iron is hot. It changes their perception of waiting time and encourages them to go ahead and buy.

Take it anywhere. You can also accept mobile payments anywhere with you. It’s the perfect option for businesses that are on the road. And you don’t need to have a big budget to get started.

You won’t be left behind. The simple truth is if you aren’t investing in mobile payments, you can guarantee your competitors are. And, while consumers aren’t all expecting it – yet – mobile payments will soon be the norm. If you don’t have the ability and training in place now, you risk a customer leak.

It can increase customer loyalty. You can also use mobile payments to learn a lot more about your clients. The data you collect can be used to target them with products that are in line with their buying habits. You can use the info to offer them discounts or free gifts. In essence, mobile payments can give you a wealth of information you can use to drive traffic to your business more often.

Photo by Chris Adamus

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Mia Guerra

Mia Guerra

Executive Editor at Chispa Magazine
Executive Editor at Chispa Magazine, Mia Guerra is a writer at heart. Regardless the topic, she loves to investigate, encourage, and ruminate on topics that can make us better people. Aiming to live a Proverbs 31 life, Mia is ecstatic to be following her calling with Chispa. At home she is her husband's sidekick and together they are raising a God-fearing family in Atlanta.

Mia Guerra

Executive Editor at Chispa Magazine, Mia Guerra is a writer at heart. Regardless the topic, she loves to investigate, encourage, and ruminate on topics that can make us better people. Aiming to live a Proverbs 31 life, Mia is ecstatic to be following her calling with Chispa. At home she is her husband's sidekick and together they are raising a God-fearing family in Atlanta.