What are mobile payments and who uses them?
Mobile payments leverage technologies that allow merchants to accept credit cards anywhere and at any time. Before the development of smartphones, merchants required fixed terminals with hardwired internet at a permanent location to accept credit card payments. However, by using smartphones as an application-based point of sale terminals, businesses are now able to accept payments at remote job sites, trade shows/events, pop-up storefronts, mobile businesses, or anywhere they have their mobile card reader.

Why Should You Use Mobile Payments?
The simple answer is convenience. Mobile payments make it convenient for businesses, especially non-office based ones, to accept credit cards from virtually anywhere. More importantly, they make it convenient for customers to make those payments because most prefer to use credit cards over cash or checks. Having a mobile payment option ensures that vendors will be able to accommodate all of their clients, regardless of payment preference.

Mobile payments also reduce risk and cut down on labor hours. Traditional hard currency payment methods, such as cash and checks, must be securely stored, transported and manually deposited into the bank. Accepting mobile credit card payments eliminates transportation liabilities and frees up the labor hours used making deposits. These additional labor hours can then be reinvested into business development, in turn: facilitating growth.

Mobile Payment Options