Getting paid for services rendered is one of the most satisfying aspects of owning a business. A payment from a customer is a direct result of all of the investment of time and work you put into creating the brand. Having the ability to accept credit cards is a fundamental piece of the payment puzzle, ensuring that you get paid fast, but while offering convenience to the customer. But how can you leverage mobile POS options to expand payments to credit cards and beyond?
How Will Mobile POS Fit Your Business Model?
The deciding factor for the majority of small businesses is to examine how using a mobile POS system can better benefit their business when compared to traditional POS systems. A comprehensive review of today’s processes is a must, but what about where you hope to be tomorrow? And what about your customers? They are loyal now, but what mobile POS functions can you add now to ensure they remain engaged in your brand while giving you modern ways to branch out into new sources of revenue?
Adding mobile POS elements into your business gives you the tools needed to expand the reach of your brand while adding to the payment options you can offer. Mobile payment apps allow for rapid and secure payments in-store, while the ability to accept payments virtually makes your eCommerce presence a fully virtualized extension of your business. The high levels of security, lower cost of operating, and the ability to reach a wider audience make using mPOS tools a modern-day essential.
What Payment Forms Do You Need to Accept?
If the available mobile POS features sound like a fit for your business, the next step in the process is to determine the types of payments you need to accept. This includes the need to solve the “from where” question as well, in order to eliminate any potential gaps in the way you accept payments. This will help you to determine the best forms of payment to accept and may reveal that you are ready to expand your payment options from those in the form of plastic.
Mobile POS systems are capable of accepting physical and digital forms of payment. This means you will be able to process more than just traditional EMV-chip cards; it enables you to cast a look towards NFC payments and QR codes as well. And, you will gain the ability to accept payments using barcode readers or QR codes, giving you the ability to employ a contactless strategy in the way your business serves customers.
Are Virtual Terminals on the Table for Your Business Needs?
With the ability of mPOS solutions to provide a borderless approach towards the acceptance of multiple payment types, a virtual terminal is a realistic option that warrants consideration. Virtual terminals act like traditional POS payment terminals with two exceptions. First, they are not physical devices that may require servicing or replacement, and second, when virtual terminals are integrated into mPOS technology, they can accept payments nearly without limitations.
Virtual terminals will provide a noticeable impact on your business if you use any of the following in your offered customer experience:
- Online ordering presence
- Support of third-party delivery services
- Use QR codes
- Offer contactless engagement options
- Want to support multiple payment options outside of credit or debit cards
Virtual terminals offer customers the exact payment methods they like while giving all of your sales channels complete payment support with an emphasis on security. Combining this with your virtual presence, seamless POS integration, and a web-based invoicing solution will make the payment acceptance tasks in your business into a marketable asset.
To Invoice or Not to Invoice?
The cloud-based fundamentals of mobile POS software are perfectly suited for using web-based invoicing tools to further the billing and financial management of a small business. Many of the benefits that web-based invoicing software can offer to you will be compounded when you choose a provider that can offer integration of web-based invoicing software into your mPOS solution.
Web-based invoicing presents the option of sending digital invoices to customers, either as receipts or as payment due. For the latter, a payment link can be included within the invoice that allows the customer to submit a credit card payment via a secure website. The cloud-based nature of this type of invoicing software makes it easier to keep track of aging accounts and can be configured to notify all parties when a change to the invoice is made by either party.
Accept Credit Cards Using Intelligent Mobile POS Solutions
Adding the ability to accept credit cards is not all that exciting in today’s business world. The excitement will start to build if you use a mobile POS solution as the foundation of how you accept payments. An mPOS system offers versatility in the types of payment you can accept, and allows you to build a payment acceptance system that covers the basics while offering your customers the advanced, trendy payment options they desire.
The technology that talech offers in support of your payment acceptance options goes a step beyond traditional credit cards. We utilize mobile POS technology as a foundation that can be used to give the customer their preferred payment option. Through this strategy, you will see the reach of your brand expand and your reputation grow. 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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