The future of payment solutions lies in our mobile phones as shoppers now have the option to Tap to Pay! Finance Magnates recently conducted a study that estimates that by 2025, 75% of all transactions will be cashless. Consumers’ use of cash has and will continue to decline as more technological advances are made, and the demand for mobile payment options is rapidly growing across most industries. This means that if your business doesn’t accept mobile payments yet, you’re likely missing out on profits. Luckily, accepting mobile payments can now be done on your mobile phone or tablet, and it’s easy, user-friendly, and cost-effective! Keep reading to learn more about how merchants are using smartphones as POS terminals.
One common question surrounding the rising use of mobile POS terminals is, “Why?” First of all, smartphones are actually very easy to convert into POS terminals. To start accepting mobile payments, merchants simply have to download a POS application on their smartphone. At the time of purchase, the merchant will enter the purchase amount in their payment app on their mobile device. Customers will then be able to use their own mobile payment app or Tap to Pay. That’s it! It’s easy & quick to set up, just as secure as traditional chip card payments, and cost-effective. Plus, you can complete transactions anywhere with wifi!
Businesses of any size can benefit from using smartphones as POS terminals, but they’re especially perfect for smaller or newer businesses. Merchants with limited space and budgets should consider adding this option, as it saves money and takes up virtually no space. Different industries may benefit more than others by using smartphones as POS terminals, especially those that get lots of store traffic. Restaurants, for example, can greatly increase their overall efficiency and boost profits. Instead of relying on one or a few traditional POS systems, employees can bring the POS terminals directly to their customers via smartphones. Adding this option to your current processes is a great way to expand your business.
The reality is that mobile payments will soon be the standard, especially considering how many consumers are already relying on contactless payments instead of physical ones. Studies have shown that many consumers are already shifting their behavior by fully switching to digital payments. Adding a smartphone POS terminal to your existing POS solutions will only help you in the long run as more consumers prefer it. Contact us to learn more!
MRKTNG is available right now!
.png)
