The Shift Towards Mobile Payments

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The emergence of smartphones is one of the biggest developments of the 21st century, and it’s easy to understand why. Over the course of the last few years, it has become increasingly common for vendors to offer customers the chance to make mobile payments. Luckily for vendors, mobile payments align with everything modern consumers are seeking in today’s marketplace. They’re convenient, quick and safe. Consumers aren’t the only ones who benefit from the use of them. Making the shift could potentially hold lots of benefits for businesses and vendors as well.

 

What do Vendors Gain from Accepting Mobile Payments?

 Mobile payments allow vendors to incorporate loyalty and reward programs for regular customers. Offering an incentive via mobile payments provides the consumer with more reasons to spend their hard earned funds on your goods or services. Providing the option also allows vendors to collect valuable information from their customers outside of payment info, including phone numbers and email addresses. Essentially, they allow vendors to build a better relationship with consumers by utilizing a tool on which their customers are growing increasingly dependent. If your customers can check the weather, pay their bills, and book flights from a mobile device, they should be able to purchase their favorite goods and services from that device, too.

 

What Factors Make Mobile Payments a Necessity for Vendors and Business Owners?

Staying ahead of the curb when it comes to technology benefits business owners tremendously. Not only does it tend to make commerce more efficient, it’s also a great way to maintain a healthy relationship with your customers. If you’re still not clear on why the shift t is paramount to vendors, consider the following:

 

  • Increased security: When it comes to making mobile payments, typically the card number being used is specifically tied to the phone being used to make the purchase. This reduces the odds of a PIN number being stolen and eliminates usage of stolen credit cards.
  • Your Consumers Enjoy Using Mobile Phones: Roughly 95% of Americans own a smartphone according to the Pew Research Center. This symbolizes that the adaptation to mobile devices has consumed nearly the entire population. With that in mind, a considerable percentage of consumers anticipate that the advent of mobile purchases will change the way their finances are handled in the future.
  • If You Don’t Use Mobile Payments, Your Competition Will: Your competition is more than likely taking advantage of mobile payments already. If you aren’t exploring the possibility of using mobile payments to your advantage, your customers may see your competition as a more convenient option.

 

Making the transition to accepting mobile payments is relatively smooth for those that choose to sign up for TheECheck.com. Along with an unmatched dedication to customer service and security, TheECheck.com also provides merchants with the ability to process e-check, ACH and Credit Card payments from a mobile device. The shift to mobile payments presents a phenomenal opportunity for your customers to gain increased access to your goods and services. Visit TheECheck.com today to find out all the benefits that mobile payments can offer your business.