From using smartphones to pay for things with an instant tap, to stores that are using mobile devices to accept credit cards anywhere in a store, the mobile payment revolution is here. Between 2015 to 2020, mobile payment volume is expected to increase at a compound annual growth rate of 80 percent, with the mobile payments volume expected to reach more than $500 billion by 2020.
Using mobile merchant services in your store doesn't just make you look hip to customers and passerby. Mobile merchant payment services help improve customer service and make your store operations more efficient. If you're considering moving beyond desktop point of sale to offer mobile payment solutions, here are five benefits of mobile merchant account services to consider.
1. Quicker Payment Processing
Having to stand in long lines at a store is a negative aspect to in-store shopping that is prompting more consumers to shop online. The simple sight of long lines at a checkout counter could be enough to deter some potential customers from doing business with you. For stores with limited space for desktop point-of-sale (POS) systems, lines, and the limiting of how many employees can process payments at a time are common pain points. Mobile payment processing gives employees the ability to process payments anywhere in the store, on their own devices.
Not only does this ensure a seamless flow throughout your store, but it can also help employees work more productively, too. With no longer having to compete for POS usage, teams can be better organized. In environments like restaurants or places where customers are seated and order something, tableside processing makes the payment portion of their outing shorter and easier.
2. More Freedom in Store Design
Mobile payment processing enables businesses to take better control of their store layout and utilize space exactly how they want. Some stores may choose to go completely mobile in payment processing, which means:
- Checkout counters are eliminated, and customers simply approach any free employee
- Businesses get more space to display retail products
- Checkout space can be converted into an area for customer service, education, or anything the business wants
Desktop POS systems can take up a significant amount of room. In small businesses where every square inch counts, using tablets or smartphones to handle transactions can improve the retail environment.
3. Take Your Business Outside Your Store
Don't limit where you can conduct business to the four walls you operate within. Businesses can sell goods and services outside their store with mobile payment processing. These capabilities are beneficial for businesses that want to work at:
- Trade shows
- Community events, like fairs and festivals
- At clients' homes or in-office visits
For businesses looking to expand their reach or experiment in different locations, mobile processing is an easy solution to test out new operating venues.
4. More Opportunities to Close the Sale
Giving sales associates the ability to process payments with their own devices wherever they are helps your business. As salespeople are helping customers throughout a store, they can further enhance the customer experience by checking them out on the spot. This means more sales are likely to close, which is great for business.
Using mobile payment processing in an environment where you're surrounded by other businesses, such as at a fair or trade show, can also help you increase sales when other vendors don't offer mobile payment. When you're competing against cash-only businesses, consumers searching for the type of goods you provide may shop with you instead, if they prefer paying with a card.
5. Increased Customer Satisfaction
Speedier checkouts improve the customer experience. At places like bars or restaurants, instead of having to wait for a server to walk back and forth with a check several times as it's being processed, one visit is all it takes to get the job done. Customers won't get frustrated with having to navigate a store to find a checkout counter, then wait in long or disorganized lines to purchase their goods.
Saving time in the checkout process and being able to check someone out anywhere within a space means sales associates have more time to make sure customers are completely satisfied with their experience. Instead of rushing those who are waiting in line through the process and out of your store, a more personalized checkout experience deepens customer connections for your employees.
Interested in Mobile Merchant Payment Services?
Many businesses that offer mobile payment processing experience the additional benefit of increased loyalty from customers who enjoy that type of payment process. When customers know they can be quickly checked out at your store, they may be more likely to shop from your business because of the great experience.
If expanding the way your business can accept payments through mobile technology sounds appealing to you, North American Bancard can help. We provide our partner merchants with free merchant services technology, so you can begin accepting payments on tablets, smartphones, and other mobile devices.
Contact us online for a free mobile merchant services consultation, or call 877-840-1952 to talk with a friendly representative.