11 / 05 / 20

Why Your Business Needs to Accept Mobile Payments

Back when Aliant was founded in 2003, it wasn’t uncommon for people to pay for goods and services with cash, check, or debit or credit card. This was before the days of smart phones, smart watches, mobile apps, and mobile wallets. Times have certainly changed as we have evolved into a more digital world, and new payment options have emerged as a result.

Mobile payments allow consumers to pay within seconds using their smartphone or watch. Gone are the days where consumers must dig through their wallets to find the right card, swipe, wait for authorization, and sign. Sound easy? That’s because it is! As a result, mobile payments have become extremely popular, and they should be on every merchant’s radar.

Before we get into the reasons to accept mobile payments for your business, let’s dive a little deeper in exactly what they are.

What are mobile payments?

Simply put, a mobile payment is a transaction that takes place through using a mobile device. Consumers load their debit and credit cards into a mobile payment app on their smartphone or tablet, and this app stores the card information so they don’t have to carry cards (or cash) around with them.

Mobile payments can be made at retail businesses, online via e-commerce websites, and person-to-person (P2P) via a phone-based text message, or by using messaging apps like Facebook messenger. Some of the most popular mobile payment platforms include PayPal, Apple Pay, Google Pay, AliPay, Venmo, Zelle, and Square Cash.

Why should my business accept mobile payments with Aliant?

According to Worldpay’s 2018 Global Payments Report, global use of mobile payments is expected to reach 28% by 2022, becoming the second most popular payment option after debit cards. With this increasing popularity, it is crucial for businesses to adapt to this trend and adopt mobile payments.

In addition to the customer convenience that has put them in popular demand, here are some of the other benefits of accepting mobile payments for your small business:

  • Mobile payments are quicker than traditional payment options, resulting in a faster checkout process. Less long lines, more transactions, and more revenue!
  • Mobile payments eliminate the need to purchase point of sale equipment. All you need is a mobile device (smartphone or tablet) that can be connected to a card reader or app. Mobile payments also give you the ability to email or text receipts to customers instead of printing out paper receipts, cutting back on your paper and ink expenses.
  • Mobile payments makes it possible to integrate loyalty and reward programs, since customer information is stored in the app.

Aliant’s mobile payment app can be added to any IOS or Android device. To learn more about accepting mobile payments for your business, click here.

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