When your parents or grandparents did their shopping, they went to a physical store and usually paid for their purchases with cash. These days, the process of obtaining the goods and services you want is far more multifaceted. One of the most recent and exciting payment innovations is the humble but powerful mobile card reader.
What is a mobile card reader and how does it work?
Doubtless, you are already aware of how ubiquitous smartphones have become. People never leave home without them and use them for everything: Travel directions, phone calls, email, web browsing, and looking for bargains just to name a few. If you own a business, you should also keep in mind that more customers every year are using their hand-held devices to shop and pay for products and services.
For sellers like you, increased reliance on the smartphone can bring additional advantages in the form of a mobile card reader. This is a small device that easily connects with your smartphone or tablet and allows you to immediately process a customer’s credit card payment on the fly. It works thanks to a processing app that you can download onto your device.
Advantages of incorporating mobile card readers into your business model.
Although the technology is relatively new, the enhancements that a mobile card reader can bring to your business are timeless.
- The necessary technology is affordable and low-profile. All you need is a card reader that connects to your device along with an accompanying payments app.
- Flexibility. Mobile reader providers don’t lock you into extended contracts that can drag on for years.
- Your mobile card reader is incredibly portable, allowing you to accommodate your customers’ needs and grow your business. Take payments on the sales floor, line bust, have an outdoor sidewalk sale, accept payments at a customer’s home, or at a trade show on the other side of the country.
- The ability to integrate with your stationary point of sale (POS) system. While your mobile unit might be tiny, you won’t miss out on what your store’s POS can bring: Inventory and employee management, customer relationships, integration with your other business systems, and customized report generation.
Think of your mobile POS as a passport to greater freedom and customer choice.
When you expand your business model to include mobile card readers, both you and your customers will reap the rewards. As a merchant, you’ll gain more happy customers when you provide this added layer of flexibility and choice, potentially leading to an uptick in sales. On the customer side, the added convenience comes with increased speed and convenience, not to mention the same level of data security. When it comes right down to it, adding mobile readers to your payment options just might be one of the most affordable and beneficial enhancements available to you today.
