07 May 4 Ways a Mobile Point of Sale Can Grow Your Business
For many small businesses, especially those just getting started, “work” doesn’t mean sitting in an office. It means networking at conventions and pop-up events, driving food trucks in pursuit of office lunch rushes, or visiting clients in their homes.
If you do business on the go, shouldn’t you accept payments on the go as well? Accepting credit cards, wherever and whenever, can tremendously increase your sales and streamline your payment processes. Here are just 4 of the ways that a mobile point of sale (POS) can fuel the growth of your business.
1. Improve cash flow
In a 2017 study, 82% of small businesses sited cash flow problems as the reason they closed their doors. Accepting payments in the field means you’re not waiting on customers to send you a check, or wasting valuable time chasing down late payments. Processing on your smartphone or tablet also grants you access to funds more quickly, typically within 1-2 business days.
But don’t think this means a mobile point of sale system has no value to a brick and mortar location. If you have a physical office, but also work on the go, a mobile option can save you on processing fees, which are higher when information is keyed instead of swiped, dipped, or tapped.
2. Deliver a fantastic customer experience
86% of buyers are willing to pay more for a great customer experience. That means if you want to keep customers coming back, you need to deliver top-notch service, each and every time. Shouldn’t your point of sale help you accomplish that?
With a mobile POS, you’ll be able to accept payments wherever your customers are, and however they prefer to pay—whether that be with a strip card, EMV chip card, or a mobile wallet. And mobile point of sale systems are faster than their static counterparts. Some mobile options, like the Clover Go, can process a chip card in less than 4 seconds.
Avoiding common checkout woes—long lines, a terminal that’s run out of paper—will improve the experience of each customer that does business with you.
3. Bolster marketing and sales efforts
You might have satisfied customers, but do you have loyal ones? 62% of consumers feel that brands do not do enough to reward them for loyalty, and acquiring a new customer costs 25% more than retaining an existing one.
Keep your regulars coming back with a rewards program, easily accessible from your device’s app marketplace. Then, track the results of your efforts with in-depth reporting. Review recent batches, see what payment methods your customers are using, and view revenue trends—all on your smartphone or tablet. Take advantage of this actionable data to inform your sales and marketing tactics.
4. Accept payments securely
Imagine this scenario: an HVAC tech completes a service request and is presented with a credit card as payment. This technician doesn’t have a mobile card reader, so they write down the card number to process when they return to the office. Now ask yourself, how secure do you think that practice is?
The Payment Card Industry advises that businesses NEVER write down credit card information. Utilizing a mobile point of sale with the latest encryption and tokenization technology means you can accept payments securely, wherever you are. An added bonus? There’s no more waiting for customers to pay you, and you’re not carrying checks or large sums of cash, which can put you at risk of theft.
The value a mobile POS offers is immense. There’s a reason that mobile point of sale systems are expected to account for 25% of worldwide POS transactions by 2023. No matter where you are, a mobile processing solution offers unparalleled flexibility and convenience for you and your customers. If you’d like to learn more about how a mobile point of sale can springboard your business’s growth, give BASYS a call today!
BASYS Processing as a business partner
Does your current processor understand the unique struggles of your industry? Do they provide great rates and personal customer service? Are they offering solutions to grow your business and being proactive about helping you reduce risk and increase your savings?
BASYS Processing features:
• A friendly, live voice will answer the phone when you call; no automated phone systems
• In-house PCI Compliance team to walk you through the process step-by-step, improving security and reducing costs
• Accept payments in person, over the phone or online
• Next-day funding options
About BASYS Processing
BASYS Processing provides credit card and debit card processing services, plus solutions that include terminals, virtual terminals, e-commerce, mobile, and point-of-sale, customized to fit any need. Banks, associations, and software partners depend on us to strengthen their reputations and relationships with their customers by providing remarkable service paired with ultimate flexibility and pricing. Merchants depend on us to make accepting credit cards and debit cards convenient, safe & affordable. BASYS was founded in 2002 on one philosophy: to take care of our merchants, partners, and employees so they never want to leave. We are dedicated to working one-on-one with our customers to design the perfect solution. BASYS is Personal Payment Processing.
Learn more at basyspro.com, and connect with us online at:
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