With today’s increased focus on hygiene and simultaneous rejection of cash, it’s clear that the payments landscape is undergoing a sea change. No matter how specialized your retail operation might be, you are not immune from this trend. The truth is that credit card processing for small businesses will soon be a non-starter without a mobile credit card reader.
A brief definition of mobile card readers and smart terminals.
In order to accept non-cash payments, you need specialized hardware (readers), as well as the software that interprets the data from the reader and sends it to the payments processing company for verification and resolution. One of the most popular payment devices these days is the mobile card reader that easily attaches to your smartphone or tablet. Highly portable and affordable, these devices and the software that runs them are quickly becoming a go-to for businesses of all sizes. You can also go with an upgraded smart terminal that in addition to portability, allows you to better manage your customers, employees, inventory, and chargebacks. Either way, let’s take a look at why you should incorporate a mobile card reader or smart solution into your operations?
Convenience and accessibility.
Once you outfit your store with these mobile solutions, you can accept payments from anywhere, including a client’s home, at your pop-up store, or across the country at an industry fair – the choice is yours. All you’ll need is a stable internet connection.
Fast and accurate bill settlement.
Your mobile reader and software are built for speed and efficiency. Within just a few seconds, you can accept your customer’s payment from anywhere at any time without the need for waiting in a long checkout line or fumbling for cash. Receipts can be emailed to the buyer instantaneously, creating an easy-to-reference record of the sale.
We already know that consumers rarely carry cash in large amounts anymore. When you offer your buyers ways to pay other than antiquated bills and coins, you’ll increase customer satisfaction. Who knows, they might even spend more than they originally intended once they are no longer restricted to the few dollars they happen to have in their pockets.
An enhanced shopping experience.
With your mobile card reader in hand, you can approach customers who need help, assisting them with product information and usage tips. Using your knowledge and passion for your products, you can then guide buyers to supplementary products that can augment their shopping experience. That, in turn, may well lead to a happy customer who comes back to your store or website and urges friends and family to visit as well.
During the global pandemic, consumers became more aware than ever before of the importance of hygiene. As a result, the adoption of so-called contactless or touchless payments has skyrocketed. Many of today’s mobile card readers are equipped with the near-field communication (NFC) technology that allows for contactless communication between the customer’s smart credit card or smartphone. As long as the two items are placed within a few inches of each other, payment details can be securely transmitted, authenticated, and verified without any physical contact occurring at all.
Unlike cash payments which are clumsy and hard to track accurately, transactions performed using a mobile credit card reader are immediately documented online. Sellers can use the information to track sales, as well as to send targeted reminders and buying enticements to their customers.
When it comes to mobile card readers, the verdict is irrefutable: They provide portability, flexibility, efficiency, and security for retailers of all sizes. If you bring this technology into your operations, the result is sure to be smoother operations and happier customers.