Mobile Pay Can Increase Sales?
Mobile pay systems are increasing in popularity, today we have so many different options to pay. Along with the traditional credit and debit cards we now have an ever increasing number of mobile pay methods including Apple Pay and Samsung Pay on our mobile devices and the number of locations accepting these new mobile payment methods is growing so quickly that fewer people are carrying cash and writing personal checks is almost unheard of today.
Who is accepting these mobile payment options
Many larger retailers have begun to accept these new payment systems to give their customers more convenience paying for their purchases. But many small business have began taking advantage of these new payment methods as well. How many times have you gone to an antique sale, county fair or even some ones garage sale and seen them using an attachment plugged in to a cell phone to take a credit or debit card?
Even the Girl Scouts Of America made a change to the traditional cookie sales this year by using a Mobile Payment service and have found that people using these payment options tended to buy more. Today even vending machines are accepting credit and debit cards and Apple Pay.
Some smaller business have delayed accepting these newer forms of payment because of the added costs but when you examine the possible lost sales just because the customer didn’t have an alternative payment method to cash available.
These payment methods also have added security for the business and the customer. For the business less cash needed on hand and fewer trips to the bank. For the customer many of the new mobile payment systems secure the customers information and some use an encrypted pass code issued by the bank the card is drawn on instead of the card number keeping the transaction secure.
How do I chose the best payment system
As with all things involved in running a business there is an additional cost to accepting these mobile pay systems but your customers are coming to expect them at all the places they shop and you may attract new customer.
With the so many new payment system to chose from it can be very difficult to chose. How do you pick the one your customers want, can you afford to accept more then one or two. Do you have a large enough customer base for them.
One way you might be able to offer one or more of these mobile payment methods to your customers and keep your costs down is to set up a Facebook survey. Ask you followers which payment methods they would like to have available. You can also send out a survey request to your customer on your email contact list. This feed back can help you determine which mobile payment options would be the best investment for your business.