5 Things That You Need To Understand About Mobile Payments
Mobile payment terminals are becoming one of the hottest business accessories for small business owners and retail store owners. As popular as they are, mobile payment terminals aren’t exactly the one-stop solution for most companies. Here are certain hurdles that mobile payment terminals still have to face.
- A lot of people might find mobile terminals to be sketchy. Mobile terminals work by plugging a small device into a smartphone, and while these terminals are in fact secure, that doesn’t mean they always give the impression of high security. As a result, they may avoid using a mobile terminal, preferring a stationary one instead.
- If you choose to go mobile, you will need one that works with your phone. Not all mobile terminals work with every smartphone model. You need to make sure that the terminal you choose will work with your company’s phone model. (Clover makes a great one that’s universally accepted.)
- If you have a retail store or restaurant, you might not want to totally dismiss the idea of mobile payment processing. Mobile terminals aren’t for everyone, but they are very useful if you know how you’ll be using them. Certain retail businesses, such as photography studios, work very well with mobile payment terminals. Many restaurants have actually begun to offer “pay at the table” service for credit card holders with a lot of success. In certain cases, you might also want to just look into portable or swivel terminals as well.
- Mobile payment processing may still need updates and security measures. Just like with any other terminal, you will still have to think about security. When choosing a mobile payment terminal, make sure to look for one that has an app with regular updates. It’s important to also remember to keep an eye on who actually will be accepting payments using the terminal itself. After all, you don’t want that terminal to fall into the wrong hands!
- With some ventures, accepting mobile payments is the only way to actually get credit card payments at all. If you are a business owner that makes sales while you’re out on the road, a mobile credit card machine might be your only option. This is why food trucks, flea market vendors, and festival vendors tend to have at least one mobile payment terminal on them at all times.
The bottom line is that accepting mobile payments isn’t the same as dealing with a standard stationary terminal. If you are wondering whether a mobile or stationary terminal is for you, it’s best to talk to an expert who can help you make the right choice for your company.