In today’s business and marketing climate, mobile phone integration is no longer just an asset, it’s a necessity! Besides taking calls and connecting with customers on social media, phones can also be used as a state-of-the-art payment system. Traditionally, small businesses had to rent or purchase a dedicated card-reading machine
. There are certainly many times where dedicated credit card processing machines are still needed. However, mobile payments may indeed be right for your business. Keep reading to find out if this method of credit card processing is right for you!
Using Your Mobile Device for Customer Payments: Branch Out without Paying More
As a small business owner, you may be worried about equipment costs eating into your bottom line, If you have limited resources, you can either use an attachment (as in Square) or even take photos of the card with your phone.
The upside, of course, is that you don’t have to invest in a dedicated machine, and many modern apps and payment solutions offer integration directly into whichever software you use for bookkeeping. This saves you money on an upfront investment and makes keeping track of purchases and inventory easier.
The downside, of course, is that the customer now has your phone! If you also use the device personally, be aware of privacy concerns, or even customers, especially the older generation, being concerned at the ‘informal’ nature of the transaction. Another reason to consider having a separate device is to make it easier to keep financial track of business-related data expenses.
Mobile Payments for Mobile Businesses
For some small businesses, a mobile device may be necessary, even if you have the cash to invest in a dedicated POS machine
. Maybe you run a food truck, dog walking business, or other “outside-the-box” enterprise.
Up until recently, customers frequenting these types of businesses were often asked to pay in cash. As cards become more and more common, cash-only can be an increasingly difficult requirement and may mean lost customers. Enter the mobile credit card merchant solution to the rescue! There are several ways that mobile solutions can work, and many can even be run without wifi, so that you can truly accept payments anytime, anywhere.
Choosing Which Payment Solutions Works for You
There are a huge variety of payment choices out there, and it’s worth taking the time to research what might be best for you. If you’re trying to start a new retail or food business with minimal upfront investment, consider finding a solution that will allow you to take payments using your current device.
If you’re interested in “cordless” solutions because you don’t work out of a traditional office, mobile payment may also be right for you, but you may want to consider getting a phone or tablet specifically dedicated to business tasks if possible. If you’re ready to learn more, contact us
for a free consultation from our Merchant Service Specialists.