Technological evolution means that cellphones are no longer being used solely for communicating and have now become a powerful shopping tool that makes it easy to purchase and pay for almost any product and/or service in just a few clicks.
In fact, although paying from a smartphone was already gaining worldwide acceptance before the COVID-19 pandemic, it gained strength during the crisis because it overcame the challenge of social distancing and offered a practical solution for making contactless purchases, as outlined in the blog of digital banking and payments company VeriTran.
So if you want to improve your customers’ experience in your store, it's time to consider incorporating mobile payment, the alternative to traditional payment methods (such as cash or cards), which streamlines their transactions and provides greater security. So let’s explore the advantages this payment method offers.
Benefits of using mobile payments in your store
In addition to providing simpler and more fluid payment experiences, when businesses accept mobile payments, a range of other opportunities open up, both for customers and for the company itself, including the following:
Mobile payments offer enhanced security
If there is one thing that worries consumers today is protecting their money, so the more secure their payment is, the better.
For this reason, you should know that if your business accepts mobile payments, your customers will be less vulnerable to fraud and theft because, compared to paying with a credit card or cash, their device offers many more security measures, according to financial technology company NAYAX:
- Add PIN codes, passwords and biometric locks such as fingerprint or facial recognition technology.
- Install apps for remote tracking in case the phone is lost, misplaced or stolen.
- Use wipe control apps or those that monitor typical phone behaviour so they can block any suspicious behaviour.
Mobile payments create a compelling and seamless digital experience
If there is one thing that has triggered consumer preference for mobile payments, it is the convenience they provide, since all customers need to do to finalize their purchases is turn to their phones and authenticate their transaction in just a few clicks.
In this sense, mobile payments are said to be revolutionizing the way people shop because, as reported by PaymentsJournal:
- They enhance the in-store experience: they are a solution that retains the inherent qualities of a physical store without the hassle of traditional payment methods, because with some platforms you only need to scan the product barcode (from anywhere in the store) to buy.
- They avoid the need to wait in long lines: they reduce friction in the in-store experience because people don't have to worry about waiting in line to complete their purchase. This gives them the freedom to pay quickly for their items and leave immediately (if they are in a hurry).
- They improve the service: instead of losing time processing payments at a traditional cash register, sales associates have more time to attend to and engage with customers. They are therefore more available to answer questions, provide demonstrations, recommendations and interact on a more personal level.
Mobile payments reduce expenses
They eliminate the need for your store to purchase or lease expensive point-of-sale equipment since all transactions can be done from a smartphone, which also means eliminating paper and ink costs by allowing receipts to be emailed or texted to customers, rather than printed.
In fact, mobile applications that allow you to receive these types of payments, such as amiPASS, do not charge membership or maintenance fees, only commission for the sales generated, so if you don't have any sales, you pay nothing! Even if you disaffiliate, you will not be charged.
Renew the payment methods you accept!
Remember that shopping habits change and so do the payment methods customers prefer, so if your business, stand or store does not embrace the growing trend towards mobile payments, this may affect the growth of your business. It’s time to start taking advantage of a platform that receives mobile payments and respond in a timely manner to the needs of your customers.
Sign up here if you have a business and want to join our AmiPASS network:
You can also use QR to make your payments by downloading the App: https://www.amipass.com/cobrar-con-qr/
AmiPOS: Learn more about the success of using and managing your business. https://www.amipass.com/comercios/