There’s a classic saying, “you don’t know what you don’t know.” This philosophy applies when you are merging mobile payments into your business goals.
No one quite knows when mobile payment adoption figures will finally account for a meaningful portion of overall digital payments spend, but payments pundits and market analysts are bullish that the future is mobile — which starts with mobile payments.
Businesses often view merging mobile payments into a business model as too much of a hassle to onboard onto their already existing systems. After all, if your customers already seem happy with the payment options you’re providing, are you really missing out? The short answer: Yes.
In 2017, mobile payments matter, even if it’s not obvious yet. Mobile payments are going to gain popularity over the next few years as existing solutions gain ground, and new products enter the market.
Overcome Challenges of Merging Mobile Payments
The problem so many businesses face when thinking about mobile payments solutions is that they don’t want to reinvent their own systems to enable new technologies. That’s why, when looking to onboard new solutions, having the right partner, with the right tools can make all the difference.
Companies like Payline achieve this by tailoring solutions to businesses, instead of businesses having to change their systems to fit new solutions. Business owners are busy enough trying to keep their daily workflow moving, they don’t need another hassle to worry about. Having a merchant account solution that allows for seamless onboarding of online, in-store and mobile payments solutions is the only way to ensure your systems are properly connected to help your business grow.
This also applies to how you allow your business to accept mobile payments. Given the right payments gateway, like that offered by Payline, your business can easily accept payments online, through a computer or a mobile device, in a way that helps your business evolve.
Merging Mobile Payments On-The-Go
Just like businesses today aren’t 9-5, neither are the lives of your customers. When integrating mobile payments into your business solutions, you should ensure you are adopting tools that let you accept payments anywhere, anytime and from any device.
Luckily, transforming your payments platform to enable mobile payments doesn’t have to sacrifice transaction speed or security. Not only do solutions offered by Payline allow for you to track inventory while on-the-go, it provides for cloud-based reporting that acts in real-time. Beyond that, it offers the ever-important EMV compliant, mobile solution that gives your business necessary security features while on-the-go. Added security (like tokenization) is just one of the benefits of accepting mobile payments.
Not only do mobile payments tools allow for multiple devices and platforms to be connected at the same time, they allow your business to operate beyond the constraints of your physical location/s. This allows you to re-focus your efforts on engaging new customers, customer retention, growing revenue and profits and representing your business in a way that shows you’re engaged with today’s latest trends.
For businesses who don’t think mobile payments matter for growing their business and customer base, increasing customer spend and retaining those customers, think again. Whether it’s one year, or five years, mobile is the future of payments — which means it’s how your business should start thinking about its payments strategy.
Anna Lothson is a content contributor for Payline Data. She previously wrote for PYMNTS.com, as a Sr. Content Producer, where she focused on financial services and payments innovation, fraud and security, emerging payments, and FinTech news, research and thought-leadership content across the payments industry.