With technology advancing at a rapid rate, you’re able to use your smartphone or tablet for almost anything and do it anywhere. Being able to use a smartphone or tablet to accept payment has big advantages for small businesses.
In the past, most businesses were in one location, but as our society gets more mobile, businesses have had to adapt as well. Now, commerce can take place almost anywhere, and businesses are spending more and more time outside their stores. Customer service has much higher expectations than it may have once had. Customers have expectations about how they can pay, especially those who no longer carry a lot of cash. Mobile payment acceptance is helping to satisfy this customer service need and allow businesses to get in front new consumers they may not have reached in their storefront. Here are some ways a mobile card reader could help your small business.
1. It’s Easy
Accepting payment on-the-go is easier than ever for everyone. It’s not hard to set yourself up with a mobile credit card reader. The base is a smartphone or tablet. You will probably have to buy an attachment, usually called a “dongle,” or a small card terminal. It’s generally straightforward to set up and quickly allows you to move your business wherever you go.
The software also helps the user by offering simple and direct prompts for accurate checkout. Most consumers are familiar with mobile card readers and are familiar enough with the process that it creates a quick and easy way to checkout. Newer systems are also starting to allow payments from a smartphone eWallet.
2. It’s Safe
Traditionally, taking a business on-the-go meant taking a cash box with you. You had to have a safe place to avoid loss or theft. It’s also harder to keep a paper trail with cash, which can make accounting difficult. Accepting mobile payments is safer than dealing with cash. Most are EMV compatible which means they use the latest in secure credit card processing technology to protect both you and your customers. You’re also able to connect your point-of-sale system with many modern accounting systems which helps you manage more effectively. It also takes some pressure off you and your staff to have to fumble with cash and eliminates bank runs.
3. It Expands Your Market
Using a mobile card reader point-of-sale system allows you to accept more payment options, virtually anywhere. Pop-up stores, vendor markets and farmers’ markets are all creating new opportunities for small businesses to reach more people. Even having a sale or expanding just outside your store, you’ll be able to stay mobile and help customers wherever you are. If your business is service-oriented, it’s now easier to be able to collect payment during a house call. No matter how small or large your business is, every business can benefit from mobile payment acceptance.
4. It Improves Customer Service
Some of the biggest pain points in customer service are long lines, long waits and cash-only checkout. With more and more people just carrying a credit or debit card, not being able to accept them will lead to a lot of missed opportunities for lifelong customers.
Consumers don’t want to wait in line. When they’re ready to check out, it’s your last chance to have them leave with a positive impression. Using a mobile card reader helps your employees spread out which cuts down on long lines and clustered groups of customers. Allowing your staff to be able to check customers out anywhere in the store allows them more time to walk around and talk to the customers and engage with them. One-to-one engagement can boost customer satisfaction and can lead to upsell opportunities.
5. It Offers Effective Management Tools
To run your business effectively, you need a reliable payment system that works seamlessly. Many mobile card readers offer helpful tools for you, the owner. Managing inventory or prices can be easy with simple editing updates in real-time. Dashboards can generate analytics that help you get a closer look at your sales. Keeping everything simple and in one place, gives you more time back to get down to business.
In this day and age, consumers want to be able to make payments with cards everywhere. Using a mobile card reader allows you to explore new markets while increasing your customer service at the same time.
Make sure your business is working for you, contact a Farm Bureau agent today.