The way small businesses take payments has evolved so much in recent times but one of the most important developments has to be the ability to take mobile payments. No longer are card machines fixed to counters, they can be taken anywhere around the shop or restaurant or used in pop-up locations to really take the service to the customer.
But are mobile payments right for your business? Small businesses come in all forms and types, so it’s worth considering what the benefits might be for you. In this blog, we’ll cover some of the main benefits and pick out some key industries that are well-suited to mobile payments.
The benefits of mobile payments for small businesses
The main benefit of mobile payments for small businesses and their customers is the convenience factor. Today’s customers expect convenience, they don’t want to wait a long time, and they don’t want to be limited in how they can pay.
The days when a small business could get away with being ‘cash only’ are long gone, so there’s no reason for you to lose out on business by having to turn people away who want to pay with their phones, watches, or contactless via their debit or credit cards.
Mobile payments can also help your small business to be more efficient while at the same time, saving time and effort on your part.
You can get the money in your account quickly, cut down on the amount of paperwork you need to do, and don’t need to worry about whether a cheque will clear.
All of this helps you to manage your cash flow more effectively, leading to better financial planning and more stability for your business. These are just some of the benefits you can receive when switching to mobile payments, so let’s check out some of the industries where these benefits are most important.
Industries That Can Benefit from Mobile Payments
Retail
You might think that a retailer doesn’t need the ability to move a card payment machine around the shop - after all, isn’t that what the till has always been for? But just because something has always been done a certain way, that doesn’t make it the right way for the modern retail world.
Customers expect so much more flexibility and with mobile payments you can offer that, whether it’s taking payments curbside, helping you cut down on long queues during the busy season or taking your products out to the market while still being able to offer all the same payments options as in your actual store.
You can also use them in eCommerce, expanding your potential customer base well beyond a physical store and enjoying the same benefits of speed, security and ease of taking payments.
Hospitality
Within the hospitality sector, there’s an obvious appeal for mobile payments when it comes to small businesses. Being able to take payments at a customer’s table speeds up the process for them and for you, ensuring you can serve more customers without having tables blocked by people waiting to pay.
It also gives them plenty more options for paying, like through Apple Pay or Google Pay, ensuring customers can pay you however suits them, quickly and easily. It also frees you up to sell at markets, pop-up restaurants and cafes or wherever you want to serve your customers.
This includes the increasingly popular option of selling from a food van, where you need a quick and reliable way to take payments so you can keep your line of customers moving, sending them on their way with some tasty food and great customer service.
Trade
If you work in a trade, payments have often been just as laborious a process as the work itself, relying on cheques, cash or bank transfers to go through before the money you’ve earned is in your account.
Whether you’re a landscaper, an electrician, a plumber or a joiner, having the ability to take card payments as soon as you’ve finished a job, with the knowledge that the money will be in your account the next day is a game changer.
It’s also a much more efficient and simple solution for customers, knowing that they don’t need to go and withdraw cash for this transaction or dig out their long-lost cheque book from the filing cabinet.
Mobile payments with Dojo
Whether you’re running a food van or an independent shop, Dojo can help you start to take mobile payments, find out more today.
