As an affordable tool that small businesses should leverage in their marketing strategy, mobile payments can not only improve operational efficiencies, but they can also empower your customers in meaningful ways. Processing customer payments on a mobile device allows the entire purchase experience to be on your customer’s terms, which also improves their overall buying experience.
With customers placing their trust in purchasing decisions from larger merchants, offering mobile payments can help you overcome any negative perceptions of being a small business. Customers may not have the assurance that you’ll honor returns or exchanges, and mobile payments can help you overcome those purchasing hurdles.
Many mobile payment providers integrate with a merchant’s existing loyalty program and that can eliminate the need for a physical loyalty card, which can significantly lower your costs in the long-term.