Published on March 6th, 2015 | by Day Trader
Three Big Advantages Small Business Can See with Mobile Payment Processing Services
In the world of retail, nothing can kill sales faster than a broken down cash register. For example, Meijer stores across Michigan had problems at the end of February when their credit card payment processing machines went down, and the store could take nothing but cash or checks. The grocery chain likely had to turn away many customers who need to pay for their groceries with credit and debit cards or other electronic forms of payment, like EBT cards. Not only is this problematic for consumers, but businesses like Meijer are especially hit hard when their payment processing solutions wind up being unreliable.
For small businesses, especially, there may only be one payment terminal located in the store. If that stops working, then those business owners may be forced to shut down and lose revenue for an entire day or until their registers are up and working once more. However, there is a low cost solution that is perfect for small and large businesses alike and takes advantage of the latest wireless technology: using mobile payment processing on a tablet or smartphone.
Whether a business stays in one location or travels frequently, mobile payment solutions are a great option for any business for any reason. Some companies might need extra terminals to help checkout customers during busy hours. Others, however, may find it useful to have a payment solution for on the go. No matter which reason a small business needs this capability, there are several advantages to mobile payment processing services, such as:
1. Portability: Employees no longer have to be tethered to one location to take payments. Businesses can open up additional checkout lines or even have customers pay at a table in a restaurant or cafe. For companies that go on the road for their sales, a mobile payment tablet is the perfect accessory for traveling, since all types of business can be conducted through these devices.
2. Security: Consumer confidence is low for some retail businesses due to the number of data breaches over the past couple of years. It’s easy for hackers to steal credit card information, and many companies don’t know that they’ve had a security loophole until its too late. By choosing a mobile payment processing service, however, businesses have access to a secure online system that is protected through encryption, so payment information is perfect safe and not even stored on the device itself.
3. Style: For businesses that really want to make an impression on their customers, having a bulky payment terminal and cash register can be a real drawback. All those wires hanging off of a register are an eyesore, and these registers often take up way too much counter space. By replacing an old, outdated terminal with mobile payment technology, however, businesses have the opportunity to increase available counter space and have more sleek, technologically advanced devices that will be far more reliable than the payment methods of the past.
Have more questions about mobile payments solutions for a small business? Leave a comment below.