United States
For your retail-business clients, smart point-of-sale and payment tools are key. Customers want fast, convenient, and modern, and retailers want their operations to run as efficiently as possible. That’s where mobile and contactless payment methods come in. Tap, pay, done.
The great news is that as customer expectations continue to rise, so does the variety of cost-effective mobile and contactless payment options. As you speak with your retail clients about their businesses, here are a few trends that will help them get paid faster, safer, and smarter.
Digital Wallets, at Your Service
Wallets like Apple Pay and Google Pay—stored on a smartphone, smartwatch, or smart ring—are quickly becoming a preferred payment method. Almost half of American consumers used a digital wallet in the last 90 days, according to a recent J.D. Power survey, and rising adoption shows strong momentum, especially among younger customers. People like the built-in security. Card info isn’t stored on the device; instead, a unique encrypted token is issued by the network or bank for each transaction. People also enjoy the simple, modern experience of touching their phone or wrist to the payment device and feeling the haptic vibration that confirms the payment has gone through.
Smart Mobile Terminals for the Win
Today’s retailers have many mobile payment terminals to choose from. It’s important to consider which options are best for which business. Many are cloud-based, which means they enable real-time data access, automatic software updates, and scalability—not to mention options to integrate with the store’s ERP and CRM systems.
Tap-to-Mobile Is Simplicity Itself
There are mobile terminals, and then there are mobile-phones-doing-double-duty-as-terminals. Today it’s easy for retailers to turn the smartphones and tablets into secure payment devices—no extra hardware required. For example, current tap-to-pay technology allows small businesses and pop-up merchants to accept payments directly on their Android and IOS devices, including features like tip prompt, receipts via email or text message, and voids or refunds.
QR-Code Payments for Low-Barrier Flexibility
Beloved for their low cost, ease of implementation, and contactless presentation, QR-code payments are becoming increasingly common in retail. The retailer simply uses a POS solution that generates a unique QR code for a transaction. The customer scans the QR code, which contains the payment amount, with their phone’s camera. From there, the transaction happens automatically and securely.
Unattended Payments for Kiosks and Self-Service
Do you have retail clients who might be interested in self-service sales and payments as a way to either enhance their operations or go staff-free? Whether fixed or mobile, these technologies open the door to new opportunities for retailers. Self-service gives customers what they want—fast, convenient, and modern—while also supplying merchants with efficiency and growth. What’s not to love?
Reach Out to Payroc
There’s no doubt that mobile and contactless payment options for retailers can give them a leg up over their competitors. Not only do these payment types improve the customer experience, which fosters loyalty, but they can also enhance the staff experience, speed up operations, strengthen security, and save back-office time through automatic bookkeeping sync.
To learn more about how Payroc’s merchant-services program can help your clients take advantage of these mobile and contactless payment trends, connect with me by selecting “Get started” here.