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Business
Should You Consider Mobile Payments For Businesses?
October 2, 2019
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There is a common misconception among small business that mobile payments are compulsory or necessary only for giant corporations. This cannot be further from the truth.

Small or big, mobile payment adds convenience to every business and if you are not caught up with it, you are far behind from your competitors that I can say for sure.

Why should you consider mobile payments?

Because mobile payments are easy to track compared to paper invoices

In this day and age, if your business is still hooked up with the paper invoice strategy only, you need a major renovation of your business model.

You are not only wasting your valuable time making those invoices or receipts, but you are also losing productivity sorting through that pile of paperwork. Just getting your week’s total revenue from the paper invoices will cost you hours while mobile payments can keep track of the total amount after every transaction. Besides, if you want to look for a particular invoice or receipts from last week, month or year, chances are one of your important employees will be spending his valuable work time looking through the paper while he could have done something productive. And if your unlucky, you might not even find that paper since you threw the papers from previous months and years into the garbage. So, I don’t see any reason you would want to stick with the old-fashioned “everything on paper” lifestyle of the 90s.

Because mobile payments are safe

While your paper bills or invoices can be stolen, lost or thrown out, the mobile payment records will always be safe in your device. Besides, since the data of your customer is stored in the cloud, no one would be able to use them without your consent.

On the other hand, when the data is sorted on a paper, chances are they will be misused by others.

Because Mobile payments are faster than the customer’s check

Can you imagine going to Starbucks and waiting on the counter while the attendee writes an invoice for you and your friend’s order?

Seems unreasonable?

Imagine getting behind 10 people in line atStarbucks where they write invoices or print them against cash and not your cards to PayPal or apple pay?

This is exactly what your customers will feel when they see the cash-only sign on your store.

This will encourage customers because mobile payments are much faster. The customers won’t have to wait in line for long and you can attend to more customers, a win-win situation for all. Besides, you won’t have to wait days for the check to clear. You get the funds added to your account instantly.

Because mobile adds convenience to your business model

From keeping records to making faster payouts or checkouts, mobile payments make everything faster, safer, flexible and most importantly convenient. You don’t have to sort through all those papers every time you want to see how you did last the few months.

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Richard Nevis

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