Watch out, Hansel. Mobile payments are so hot right now.
As adoption continues to swing up, merchants of all sizes will want to keep an ear to the ground about mobile payment trends and developments. Luckily, we’ve got three solid ones right here to help you get started.
1. Cloud-based apps
Steer clear of traditional legacy POS applications and seek out processors that offer flexible cloud-based technologies. Using the cloud, you can access your reporting and manage transactions from one single hub and even accept payments using multiple channels that all funnel into single source technology. Everything goes with you.That sounds easy, portable, and pleasant, doesn’t it? Sure does.
2. Multi-layered security
Given the recent scares with data breaches, smart merchants will want to stay ahead of the curve by opting for processors that offer advanced equipment made for protection. There actually are rugged card readers that encrypt data in better locations than other ones. Who knew? Card readers that encrypt data right inside of the read head can offer more intense protection than others. And you can add even more protection on top of that – with key injection, masked data, immediate tokenization, and instant card authentication – if you want to be specific.
3. eCheck acceptance
A little-known-fact about mobile payments is that it needs to offer eChecks. Rarely does it. Most only accept credit cards, which works fine for some merchants. However, others might really benefit from adding the ability to offer customers another payment option. You can process eChecks at the mobile POS using a paper check or bank account information, which can open some serious doors for profits and customer loyalty. Some merchants just might benefit from having an on-the-go eCheck payment option. Moving companies, lawn services, and cleaning businesses are just a few examples of merchants that make sales where both a mobile device and a check payment are a good fit.
Keep these three trends on your radar. Mobile payments is an area of the industry that isn’t slowing down anytime soon, and smart merchants are already considering ways to integrate this piece into their solution, if it’s right for them.
Ready to start? Head over here and give us a call at 866.290.5400. We can get you rolling in no time.
Photo credit: Jonathan Velasquez