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Whether or not your business should accept mobile payments is a question every business owner needs to ask themselves. Does it benefit your company to have the ability to receive payments immediately, as well as offer multiple payment options? If you answer yes, then it is likely mobile payments would benefit you and your business.
Making the Right Choice
If you are just embarking on the process of making payment option decisions for your business, or in the process of re-evaluating what payment methods you will accept it is best to begin by evaluating the way your products and services are brought to market. When making the choice, consider your clients, who they are and what payment preferences have been in the past. Mobile payments are appreciated by more technology savvy buyers who embrace the concept of making payments via their smartphones.
If your company sells their products in a variety of locations, including client sites, expos or while travelling than mobile payments can be a large advantage for the business. It allows the business to close a sale on the spot, and payment can be made immediately. Not having this ability could cost you the sale as potential customers and clients will often say they will be in contact and they are never heard from again.
Mobile Payments Include:
- Google Wallet
- PayPal
- Square
- Simplify Commerce
What to Consider
There are several considerations to me made when choosing what payment options will work for your unique circumstances, such as what will work with the technology you are already using. It can be quite simple to implement mobile payments, and be as easy as getting a credit card ready that attaches to your phone. Be sure to investigate whether or not mobile payment devices and apps can properly integrate with the software your business already uses, as well as carefully considering the cost of these services, and weighing them against the likely benefits of offering them.
It is important to ensure that your chosen mobile payment service integrates with your accounting software, as well as your merchant account, if there is one, as well as any and all other financial systems that may be used by the business.
It is important to always remember that credit card transactions contain highly sensitive financial and personal information, so if you decide to accept mobile payment it is critical to do your homework and do business with a trusted and reputable provider that takes the appropriate measures to safeguard all of your client’s information. Many clients prefer to pay for their products and services via credit card, and are now starting to do it with phones as well.
If you think that mobile payment options have the potential to boost your business’s sales and profits it seems like a natural decision to investigate it further and we can help you with that! Our IT professionals are immersed in technology every day, so you can feel rest assured knowing that we have your best interests in hand. We can provide you with the strategic guidance you need to make informed technology decisions that not only benefit you, but also your business.
For more information on using mobile payments to help your business reach the next level of success and how our Managed IT services could be the perfect fit for you, contact {company} at {phone} or send an email directly to {email}.