Some might argue that mobile credit card processing and mobile payments are the same thing. In some ways that is true, but there are some distinctions that set them apart. When you talk about mobile credit card processing, the focus is generally on its benefits to merchants — which are plentiful. When the subject is mobile payments, the focus tends to shift to the many advantages offered to the consumer. It really is a small distinction because they are two sides of the same coin.
Consumers are progressively adopting newer and more convenient ways to pay and have high expectations. Merchants who can meet and exceed their customers’ demands will have the best opportunity for success. As an example, in the past loyalty and reward programs were fragmented add-ons, but today’s innovative payment technology solutions enable merchants to deliver highly targeted offers to shoppers at the point of sale so customers receive valuable information when and how they want it.
Merchants can benefit from customers opting-in to share their personal contact information in exchange for receiving special offers and rewards — and use the collected data to build profitable loyalty and coupon programs. It’s a great way to keep customers happy, loyal and turn them into your brand advocates.
For today’s consumers, smartphones and tablets are becoming as much an integral part of the shopping experience as are coupons and credit cards. Those known as omniconsumers are shoppers supported by many kinds of technologies. Omniconsumers use a combination of online, mobile, and in-store channels in the shopping experience. With advances in mobile payment technology, shoppers can showroom (use their phone to comparison shop at other stores or online) for the best offer, take advantage of special offers delivered directly to their mobile device, and make informed purchases online, in-store, or on the go.
A recent study has shown a significant increase in the use of mobile devices to shop and pay for merchandise in-store. More than one-third surveyed said they were using stored online payment accounts to pay some retailers, but even more notable is the reported movement in mobile payments with 44 percent stating they paid at a store’s checkout terminal using their own or the store’s mobile point-of-sale (mPOS) device.
Merchants who operate outside of the traditional retail setting are enabled to accept credit and debit cards anywhere they do business using mobile credit card processing. Mobile processing options allow merchants to choose between using a mobile wireless credit card terminal or an app-based processing solution to turn a smartphone, tablet or other mobile device into a credit card machine.
TransFirst® covers all bases with PayFox® and ProcessNow® app-based processing solutions, as well as offering compact and portable wireless terminals. With these customized merchant service solutions, merchants can accept credit or debit cards at customers’ homes, at school and community events, or outdoor markets. They can also get paid directly from their service vehicle or food truck. Mobile processing’s applications and growth potential is immeasurable for your business and with the backing of a company with 19+ years in the industry, you get the experience, technology and solutions you can trust.