The world of commerce is in constant transition. As technology changes and grows, the way we shop and pay must also grow. The days of paying cash are fading as new gadgets, POS systems, and mobile payment processing are becoming more abundant. Each year a new idea is sparked to make commerce faster and more convenient to take advantage of the small window of impulse purchasing. With mobile phones capable of so much more than just a phone call, commerce has also become mobile.
With the ability to take payments no matter where you are mobile credit card processing offers a convenience many retailers and shoppers were missing in the past. Mobile apps and credit card readers turn your smartphone into a point of sale station instantly and allow merchants and service providers to take the payment in minutes.
Retailers are already seeing the convenience and benefits of utilizing mobile card processing. By equipping their sales floor staff with mobile card readers on mobile phones and tablets, they are able to take advantage of impulse buying within minutes. Once a customer agrees to the sale of a product, the salesperson can take their credit card payment on the spot, without giving the customers time to change their minds while waiting in the long line at the register. This allows retailers to see an instant increase in sales.
Due to the increase in mobile phone usage, there are many companies offering card readers, swipers, and apps to process payments. Many offer merchant account services for processing the payment as others allow you to use your existing merchant account.
With multiple ways of processing the payments, retailers can swipe the card or manually enter the payment into the app. Customers are then emailed a receipt instantly for their financial records. This is a convenience for both the retailer as well as the customer.
Customer Payment Options:
Though many retailers and service providers see the convenience and benefits of mobile payment options, the customer also has benefits. With less time spent standing in line, unnecessary trips to the ATM for home service calls, and instant payment processing for easier budgeting, consumers are able to get more done in less time.
With the changes in technology, there are changes being made in the way consumers pay as well. With virtual wallets growing in popularity, the need for carrying a credit card is becoming obsolete. Google Wallet is one of the services utilizing a virtual wallet and allowing payments to be made via mobile phone tapping at PayPass terminals. By loading your credit card information into your Google Wallet, you can leave the card at home and tap your iPhone or Android phone onto a PayPass terminal to charge your purchase. This technology is also replacing the need for carrying reward and discount cards as it automatically applies your savings and benefits with your purchase.
Consumers are given the opportunity to simplify their purchases with the use of new technology. The future of commerce is changing and will soon be virtual rather than conventional. With the ability to utilize the mobile connections, Bluetooth, and HD screens for scanning coupons and credit card information, the need to carry cash or plastic is on its way out, making room for more innovative technology.