Benefits of Mobile Payment Processing

As the business world becomes more mobile, so too must the tools we use every day.

One of the new big trends in business is the use of payment processing from companies like Intuit or Square. This payment system makes the consumer process much more smooth, much easier. It’s even changing the way companies do business across the world. So, keep up with the trend and see what all the fuss is. Who knows… maybe it’ll change the way you do business, too.

It’s Affordable

As a small business owner, you’ve got a lot to take into consideration when it comes to your budget. Many different card processing options want to bring you into expensive contracts with confusing fees. But, if you’re looking at Intuit or Square, you’ve got a few options. The first is that you pay per transaction, which means a small percentage of each transaction goes to them. This is all in lieu of monthly fees. If you don’t make a lot of transactions, this is a pretty good option.

You can also pay monthly, if you do a lot of transactions per month. This is a flat rate.

If you go with Intuit, you’ve also got an option that allows you to pay a small monthly fee that lowers your per transaction charge.

It’s Flexible

This is what businesses truly like about the mobile payment system. With the companies listed above, there are no up-front contracts. You’re not obligated to stick with them for an extended period of time, giving you the flexibility to make changes as necessary. If you’re just starting up, you’ll need this type of flexibility. Profits can be hard to come by, and the small business world ebbs and flows like no other, and if you’re stuck in a plan that is inflexible, you could be spending money on expensive credit card processing fees that you’re not even using.

With Intuit or Square, you can easily adjust your pricing, pay schedule, services, or even service provider without incurring penalties. Imagine for a moment that sales start to slow a little. You can change your service to a per-transaction rate to help cut costs, and then when business starts booming again, you can get back on the monthly plans. Flexibility is key in the business world. Take a hold of it.

It’s Mobile

Most businesses are no longer confined to the space of their office or store. Whether it be meetings or trade shows, businesses are required to be more mobile. This is the best part about mobile payment processing. Not only can you take it with you wherever you go, but you can also keep it with you. Imagine you own an ice cream shop and business is booming. It’s probably summer time. You’ve got a line out the door. What better way to keep a line moving than to take orders and payments while the customers are still in line? Or maybe you’re out in the field at a community event and you’re selling your product. Most people don’t carry around copious amounts of cash with them anymore, so you’ve got to be ready for that. Rather than turn them away because they don’t have cash, use the mobile payment processor to accept whatever form of payment they do have. You’ll increase your sales and bring in more customers.

Another added benefit of the mobile system is that you don’t even really need to physical card to accept payments. As long as they have the card number (say, as if you’re taking a payment over the phone), you can accept their payment by just punching the number into the system.

There are numerous benefits to using a mobile payment processor. They’re affordable, flexible, and mobile. All of these things are crucial in today’s business world. The ability to stay within budget no matter what means you’ll have more money to spend on more important things, things that your business needs to stay afloat or continue to push toward the black. The flexibility you’ll have gives you options, which means you can make changes on the fly without the hassle other systems give you. And mobility is crucial to getting your brand out there, all while still making sales and making money.

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