Businesses That Can Benefit From M-Commerce
With the widespread use of smart phones these days, mobile credit card processing has been rapidly and increasingly gaining popularity especially among small businesses. According to the Entrepreneur report in 2008, 26 million of businesses in the United States were not accepting credit cards. Their decision were based on the high processing fees, separate phone line, card reader purchase and long-term contracts; thus the reason behind why they prefer cash only. However, with the increasing number of people who prefer using their cards, businesses need to adjust and keep up with the trend if they wish to continue earning profit. Now, being able to accept credit cards is no longer an option but a necessity. Businesses need not worry about acquiring the technology that will enable them to accept cards as M-commerce is the solution to that. Listed below are the top three industries which benefit greatly from mobile credit card processing.
- Travelling professionals. Travelling professionals including personal trainers, hair stylists, wardrobe stylists, photographers, massage therapists and sales representatives usually travel to their clients. When the client pays them for their services, it would be either in the form of cash or check. Cash would be a perfect and the obvious choice but clients rarely pay in cash and these professionals also do not want to be carrying cash around with them while travelling. On the other hand, checks are okay as well; however, you will not be able to know for sure whether the check will be cleared or not. What’s worse is knowing that the check bounced and you cannot contact or get a hold of the client anymore. To solve this problem, you can make use of mobile credit card processing. It will give your client more payment options, make payment transactions much easier and faster and it will be able to give you the financial security that you need.
- Delivery services. If you have a business that offers delivery services, you will notice that a lot of people are becoming hesitant to give their credit card information over the phone due to the alarmingly increasing rate of identity theft. Whether you have a restaurant, a retail store, a flower shop or a grocery store, you can increase your business by adapting the technology of M-commerce. All you need to do is to purchase a wireless credit card terminal, so that when you or your staff make/s the delivery, you will be able to process the transaction in front of the customer. Not only will this be beneficial to the customer because they would be assured of a secure transaction but this will be beneficial to you as well—you will know that the customer received the product and that you got paid for it.
- Retail stores. There are some people who have no patience falling in line especially when purchasing only a single item. If this happens often in a retail store, chances are high that people will leave and purchase from another store instead. To avoid this from happening, take your cue from stores which equip their sales representatives with mobile payment via credit cards systems or terminals. Once you have decided to buy, you would not have to wait in line to pay for that certain item. The sales representative who assisted you can process the transaction right then and there.
Employing the technology of Phone Credit Card Processing is very beneficial because it helps businesses gain wider client bases and improve their profit. Aside from those, it assures people their security and gives them a more pleasant shopping experience.
By Peter Davidson
For more information on Mobile Processing contact Tina @ 888.413.9186