When mobile payments solutions were introduced, it helped inspire a flourish of mobile businesses. Food trucks, pop ups, and outdoor markets began appearing everywhere as the ability to take credit card payments on smart phones and tablets went mainstream.
The mobile swiper freed business owners from previously static locations. But, is the mobile swiper only for them? Absolutely not! Not long after Nordstrom Rack introduced the mobile device to ‘bust the line’ and increase customer satisfaction, mobile processing was quickly adopted by other major retailers.
Although America has fully embraced Main Street, small-to-medium sized businesses are still under pressure to deliver a ‘big box’ experience. Our most precious resource is time and we all want to spend less of it waiting in lines. Going mobile gives every brick and mortar business the freedom to market their business on the go and collect payment wherever their customers are.
What better way to increase sales then going out, shaking hands, and kissing babies? According to ControlScan 21% of small to mid-sized business (SMB) merchants have adopted mobile at their physical point of sale, with an additional 4% “in the implementation process.”*
25% is impressive, but what’s holding the rest of businesses back from going mobile? This biggest deterrent is generally a question of security. The common misperception is that mobile processing simply isn’t as safe as point of sale (POS) processing. However, the fact is your mobile transaction is ultimately the more secure option.
The end-to-end encryption we employ at SignaPay ensures that from the moment a card touches the swiper it is instantly secured until it reaches the issuing bank for approval. Because of these advanced encryption methods, businesses are dropping their inhibitions surrounding mobile payments. In fact, 76% of card-present merchants (both Mpos and POS) said they believe their business has little to no risk of experiencing a data breach.*
Increasingly, today’s consumers expect options from business of all sizes. While every business is different, most companies will have the need to accept mobile payments at some point.
*ControlScan, Inc. (Nov 13). Payment Security and the SMB. The Fifth Annual Survey of Level 4