Where Will Mobile Payment Processing Help You Most this Holiday?
Mobile credit card processing is hardly a new invention, but it’s nonetheless opened up a lot of avenues for small businesses and independent entrepreneurs. This begs the question, however, of how you would utilize it to its fullest potential. Where are you going to need the option for mobile payments?
As it turns out, a lot of places! Having the opportunity to take your register on the road opens up a lot of options for any store owner, whether you’re selling t-shirts or Thai food.
1. Trade Shows and Markets
Have you ever wanted to take your product or service to a farmer’s market, trade show or festival and found yourself tied down by your lack of credit card processing? A cash box and a check envelope used to be sufficient for these events, but these days fewer and fewer people are carrying cash. The Washington Post reports that up to 80 percent of people carry less than $50 in cash on their person at any given time, with around 50 percent carrying less than $20—hardly a surprise, considering how convenient, safe and easy to transport credit and debit cards are these days.
With the ability to process credit card payments remotely, however, all you need is your reader and a smart phone with a decent data plan to open up the profit potential at any offsite engagement. Regardless of what you’re selling, you can take part in shows all across town and across the country with a mobile card reader.
2. Holiday Events and Appearances
This is especially important for anyone in the entertainment venue, catering, or merchandising. If you make shirts for an indy rock band in town, but can only accept cash, you’re not just limiting your profits, you’re limiting your reach. If you’re selling at a particular event or making an appearance wherein you expect to be paid, rather than working out invoicing with the venue, you can just charge it right to your mobile device. Whether you do this on arrival or after the event is up to you, but you’re removing one step in the purchase process while still holding up your end of the bargain completely—yes, paper and all. The majority of mobile processing apps, even proprietary ones like those utilized by e-Commerce solution services like Shopify, allow you to email receipts to whatever email address the buyer prefers, or even to a wireless printer with e-Print technology. This way you can not only send proof of purchase to your customer, you can print a copy for your own records as well.
Finally, no more worrying about whether your performance invoice is ever going to be paid in full!
3. In the Shop
Believe it or not, the number one location to use a mobile credit card reader is actually “at home” in your own storefront. According to Entrpreneur.com, tech analysts report that the majority of full-scale cash registers will be replaced by iPads and other mobile point of sale terminals over the next five years. This isn’t just thanks to the great features these tools offer, although there’s no shortage of those—often mobile card reader apps sync with your inventory to give you a live running on-hand count for products, link to your accounting software to make it easy to measure your profit day to day, and even wireless printing capabilities to give out professional custom receipts to every customer.
Using a mobile reader in the shop makes it easy to train the majority of employees in running your point of sale, thanks to the sheer number of smart phone users in the world today. Less time spent training means more time taking orders and making sales, so there’s really no better place to put your mobile reader to work!
Get Up and Go
Don’t be tied down by a cash register anymore, and stop worrying about missing out on a valuable selling opportunity. Mobile card readers are small enough to fit in your pocket and the operation is as simple as plugging in and running your chosen app.
Just make sure to get a reader and app that works with the technology you have. According to Business News Daily, most apps run on iOS and Android, meaning that if you’re using a Blackberry device you may have to look a little harder, or get a smart phone that suits your needs as an entrepreneur a little better. Choosing the right reader and app is up to you, but finding one that suits your business is simple with the host of options available today. If you carry a business card, you should be carrying a card reader: the former may help you get business in the future, but the latter will promise you’re always ready to make a sale now.
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