5 benefits of accepting business payments with your mobile phone
Are you one of the many business owners who are still hesitant to start accepting payments with your mobile phone? If so, you're missing out on a lot of great benefits. In this article, we'll explore five of the top benefits of accepting payments with your mobile phone.
In order, these are: -
- Cost Effectiveness
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With mobile phones becoming ubiquitous in the modern world, it makes perfect sense to use them to process business payments. Staying ahead of the mobile revolution and technology curve by accepting payments with mobile devices is a convenient way for businesses to keep their customers happy.
These mobile payment options are incredibly easy and secure, while also providing payment visibility so both the customer and merchant can stay up to date on the status of payments. This paperless system also means that businesses do not have to worry about dealing with redundant paper trails or purchasing costly equipment. Gone are the days of waiting days or even weeks to receive payments – mobile-enabled payments are fast, efficient, and incredibly cost-effective.
These mobile payment options are incredibly easy and secure, while also providing payment visibility so both the customer and merchant can stay up to date on the status of payments.
Making mobile payments with a mobile phone today is not only convenient but also safe and secure. Many mobile wallets and payment apps that allow for mobile payments utilise sophisticated security protocols to protect customers and their business transactions.
Advanced encryption techniques keep any personal data used in mobile payments protected, while creating unique identifiers for each transaction, reducing the chances of fraud and unaccounted payments. Additionally, mobile phones are equipped with biometric authentication like fingerprint or facial recognition technology which makes mobile payments even more reliable and secure. Lastly, all mobile payments are subject to the same banking regulations as other digital payment means, meaning businesses can have economic reassurance when they accept payments via mobile devices.
When using a mobile phone to accept payments, it's important for businesses to ensure that all apps are up to date, and those apps allow for modern, secure payment methods such as Apple Pay, Google Pay & Samsung Pay.
Speak to the team at Pebl if you'd like to learn more about securely accepting business payments through your mobile phone.
Accepting payments with your mobile can be more efficient than traditional payment methods such as EFTPOS machines or virtual terminals.
With mobile phones, businesses are able to take digital payments wherever they go - no extra hardware or long setup times needed. Currently, getting approved for an EFTPOS terminal can take up to twelve business days. Having the hardware delivered can take another 3 business days.
Comparatively, getting set up with a company like Pebl, which allows businesses to accept all major payment types using only their phone, takes as little as five minutes.
The mobile-friendly process also makes it easy for customers to pay quickly and securely with their credit or debit card - especially when utilising QR codes.
Plus, mobile payments offer an unparalleled level of convenience and competition within the consumer space, allowing many businesses to increase their customer base and revenue. All in all, mobile phone payments represent an invaluable asset for businesses seeking to streamline their payment processes.
Mobile phones are becoming a staple in our lives, and mobile payment services provide the versatility to efficiently handle business operations at any time.
Whether you use mobile banking, Apple Pay, Google Pay, or another mobile payment service, the capabilities of mobile technology have made it easier than ever for businesses to accept payments anywhere, anytime. Accepting mobile payments provides significant advantages such as convenience and security to both customers and business owners alike.
By reducing paperwork and streamlining existing processes like invoicing and collecting payments, mobile phone-based payment enables businesses to increase efficiency while keeping customer data secure.
When accepting business payments with a mobile phone, QR codes can also come into play, allowing even more versatility when it comes to accepting payments from customers. These QR codes can be presented in various ways; digitally, on the business's phone, TV or stadium big screen, or physically on a menu, brochure or billboard. Imagine, instead of a customer seeing an ad on a billboard, searching for the company's website, selecting the product and making the purchase - they could scan a featured QR code and get taken straight to checkout and pay via their preferred method.
The versatility that mobile payments offer, especially when combined with QR codes, is undeniable and helps usher in a higher level of productivity for companies everywhere.