In 1970 a magnetic stripe was added to the first credit cards and the world of consumer sales went electronic. More than 50 years later those magnetic swipe cards are still in use, but now the business side of the transaction has evolved to meet those consumers anywhere a sale can be made or a service can be provided.
Mobile phones are now being used to accept payments with secure, efficient, and professional standard technology that allows any business the opportunity to expand its reach.
The technology is easy to use, quick to install, and provides a practical boost to your bottom line. Consider these seven tips for when you are deciding to accept payments from your phone:
- Download an App Directly to Your Phone
- Pair the App with a Bluetooth Card Reader
- Go Paperless with Digital Receipts and Accounts
- Make Sure You Can Include Tips and Taxes
- Prioritize Security
- Accept Payments Over the Phone Using Virtual Payments
- Basic Analytics Are an Essential
Mobile Payments for Every Business Type
There are many advantages of accepting payments from your phone; as our world moves beyond brick-and-mortar stores, your business should keep up with emerging trends in technology.
Mobile transactions are instant and secure, and the mobility removes the need to carry large amounts of cash or to keep handwritten ledgers. It’s an evolution that benefits a range of industries from food trucks, market stalls, and coffee stands to plumbers, electricians, and personal trainers.
When making your decision about implementing mobile payment options, make sure you find a solution that suits your specific business. That begins with the ease of installation.
1. Download an App Directly to Your Phone
The first step to accepting payments from your phone is putting that technology on your phone. An installation directly to your phone will unlock a range of professional standard business tools you can use to accept payments on the go.
Once you’re up and running you should be able to use the app as a standalone system or link it back to your central point of sale system at the office and combine your sales data from each type of revenue.
2. Pair the App with a Bluetooth Card Reader
Your smartphone payment device should come with a simple remote card reader— the leading mobile POS options won’t require additional hardware or include software fees. This card reader should connect seamlessly to your phone and be flexible enough to accommodate a range of payment types including:
- Magnetic stripe cards
- Chip and PIN cards
- Tap’n’go payments
- Smartphone payments and digital wallets
The app should let you use your phone as a mobile cash register, so it needs to be able to perform a range of business tasks and not just accept basic transactions.
3. Go Paperless with Digital Receipts and Accounts
Beyond those basic business functions are the ability to provide invoices, receipts, and business contact information to encourage repeat sales. The most advanced mobile POS providers will allow you to convert these items to digital delivery via email or SMS which translates into customer loyalty.
You should be able to customize these resources to carry your name, logo, contact details, and a personalized message that completes a customer experience after the service or product is provided.
4. Make Sure You Can Include Tips and Taxes
Your mobile POS solution should be about more than just the final sale. Everyday business features such as adding tax information, accounting for tips, cataloging your stock, and the ability to adjust prices on the go are all essentials to expanding your professional reach.
The detail of these features requires a user-friendly app interface, so make sure you get a hands-on trial before committing to a mobile solution. You should be able to intuitively navigate between a list of functions.
5. Prioritize Security
Reputation is vital to building a brand, and the best way to protect yours is to protect the information and finances of your customers. Strict security and the use of the latest end-to-end encryption and authentication are the price of doing business in the digital age. This is especially important when dealing with customers outside the comforts of a traditional brick-and-mortar store.
6. Accept Payments Over the Phone Using Virtual Payments
There are ways to accept payments from your phone other than downloading a stand-alone app. You can use virtual credit card payment software on your central business POS to accept remote payments using just the customer’s details. This system requires the remote team member or customer to call your main office to relay the payment information.
This option can be particularly effective for dealing with bulk purchases, regular clients, or one-off events that don’t warrant a long-term mobile solution.
7. Basic Analytics Are an Essential
Consolidating your sales information into a central source allows you to take advantage of one of the most important modern business tools—data analysis. Today, the predictive insights of professional-grade sales and customer information analysis are accessible to even the smallest businesses. Modern POS solutions carry in-depth analysis on inventory and sales patterns; most mobile options offer one-touch daily sales reports and instant stock counts.
This information helps guide purchase orders and measures the impact of marketing campaigns, loyalty programs, and attendance at temporary mobile events like fairs and conferences.
Accept Payments From Your Phone and Build Your Business
Just as the magnetic stripe of the 1970s made business more convenient and more secure, the evolution of mobile payment options has improved the state of small enterprises.
Vendors are no longer tethered to their cash registers and storefronts. They can take their business to their customers, wherever they are, and deliver a final transaction every bit as professional as the service itself.
The mobile POS options designed by talech allow you to accept payments from your phone and give you the reach to take your business where your customers want it. And when you get there, we deliver the quality business tools to let you maintain the same levels of professional service you’d expect in your brick-and-mortar. Reach out to us today to sign up for a demo and to learn more about how talech can be your valued POS partner.
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