As a business owner, it’s absolutely vital that you keep up-to-date on the latest technological advancements. Not only can technology simplify back-end accounting but it can also make your business appeal to a wider range of consumers. When you do everything you can to make their experience quick and easy, your business will experience greater customer loyalty.
Point-of-sale (POS) terminals are key places to implement new technology. The most recent major innovation in the POS terminal space is accepting mobile payments.
Mobile payments are faster and more convenient than physical forms of payment. While big purses and bulky wallets used to be the norm while shopping, customers are carrying just one device today – their smartphone. By accepting mobile payments, your business can capitalize on any unexpected shopping trip with ease.
One of the most popular forms of mobile payments is Apple Pay, which has been around since 2014. Year over year it is gaining more and more popularity as the consumer mobile payment go-to. Apple Pay is designed with security in mind. Since it is connected to a fingerprint, Apple Pay is much more secure than physical credit cards.
Your Apple device never holds your credit card number or any personal data. Instead, Apple Pay assigns a unique token to your credit card to make a purchase. In the age when identity fraud is all too common, this Is a huge relief to customers. Even if you lose your phone, it’s easy to disable Apple Pay to prevent anyone else from using it.
Android Pay was launched one year after Apple Pay. It includes many of the same features, but it’s directed at Android users, not iPhone users. Consumers can configure Android Pay to operate based on their fingerprint or a passcode. With Android Pay, people can also place their loyalty cards, coupons, and other special discounts into their digital wallet.
Apple Pay and Android Pay are compatible with all major credit cards including American Express, Discover, MasterCard, and Visa. Both mobile payment options allow you to make ATM withdrawals without a credit or debit card. It’s also easy to make in-app and online purchases from your mobile device. Everything you need to complete a transaction is right on your phone!
If you want to review your transaction history, you can check this on the phone where you have Android Pay or Apple Pay. You’ll have access to the exact amount of all your purchases and the location where they were made. This makes budgeting a cinch.
All Wholesale Payments Direct point-of-sale terminals are able to accept Apple Pay and Android Pay. It’s important that you get a POS terminal that accepts both so you can reach as many customers as possible. If you run an e-commerce business, Wholesale Payments Direct can also help you accept Apple and Android Pay online. If you have any questions about accepting forms of mobile payment, call Wholesale Payments Direct today!