Smart payment technology is making life much easier for business owners
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It’s becoming more and more likely that customers will be expecting to pay with a cashless method. Especially if you work in a fast-paced environment where people are in and out, the time it takes to process a payment can really add up. Accepting contactless card payments has a number of benefits for smaller businesses.
Published October 14, 2021
Today, we carry around these small computers in our pockets and purses. We use these small computers to check emails, make calls, and even make purchases for our day-to-day living. These devices (smartphones or other mobile devices) also help to make our lives as business owners much easier. For example, we can use them to scan documents, keep track of supplies and other inventory, and process our payments. As a result, we're saving time and stress. The future is getting smarter and we couldn't be more excited to see how it will impact our business and everyday lives.
It’s becoming more and more likely that customers will be expecting to pay with a cashless method. Especially if you work in a fast-paced environment where people are in and out, the time it takes to process a payment can really add up. Accepting contactless card payments has a number of benefits for smaller businesses. Investing in a card terminal or payment machine can be expensive and cumbersome to use, but necessary for your business to stay alive. The good news is that you can set up payments with your smartphone without any additional equipment.
There are many benefits to accepting payments on a smartphone instead of a traditional payment terminal, including convenience for merchants, reduced cost of credit card processing, and also the possibility of adding multiple payment methods into it. Turning your mobile into a smart payment machine can get your business to thrive.
Even though our new generations of customers are showing a different behavior in the way they pay, accepting contactless payments - whether through a contactless physical card, or a digital card like Apple Pay, Google Pay, or Samsung Pay - is a great way for merchants to maintain their customers' trust. Also adding other payment methods, like invoice, Buy now, pay later-alternatives, and direct payments like Swish or other local schemes, and you’ll find yourself having a truly smart payment machine in your pocket, giving your customers all the payment choices they want.
Why accepting contactless card payments Is Good For your Business
The fact is that you as a micro-merchant might not even accept contactless card payments right now. You wouldn’t be alone in that. All over the world, micro-merchants are struggling in keeping up with the fast-paced decrease in cash usage by customers. Studies in Sweden show a good example of this big decrease in the use of cash as a payment method. In 2010 almost 40% said that they paid with cash in their last in-store purchase, while that number was only 9% in 2020. If you are not yet even accepting card payments in your store, a mobile payment app is a great way of increasing your customer reach.
But, I already accept card payments?
If you already have a traditional card machine, the classic brick, and mortar, but lack other payment methods, a mobile payment app could also benefit you. By using an mPOS solution, you could add other payment methods into your existing smartphone without the need for cumbersome implementations. But going back to card payments, one of the greatest benefits of accepting cards in your store is the fact that it can maximize your overall sales. The reason why it can maximize your overall sales is that it can give you access to a whole new group of people that love to use their cards for their transactions. This is the exact same reason for increasing sales by offering other payment methods, along with credit or debit cards.
How to Set Up Smart Payment Technology for Your Business
Accepting card payments is a great way of increasing your customer reach. If you aren’t able to take them because of your lack of a payment terminal, we recommend looking into Surfpay. Surfpay is an app that allows you to accept contactless card payments on your smartphone and you don’t need to buy any extra hardware or a traditional card machine. Read more about our Surfpay features here »
Smart payment technology is making life much easier for business owners, and this is what Surfpay is all about. In the past, processing payments meant having a separate terminal free at all times. Now you can add not only contactless but other payment methods directly from your phone, with just this app. All you have to do is to download the Surfpay app, select your merchant bank when doing the onboarding, enter the amount you want to receive from your customer, and select the preferred payment method of that customer. Once up and running, it takes only seconds to accept payments on your phone, and after each sale, you can offer your customer a digital slip of the transaction.
The only thing you need to get started is a phone with Near Field Communication (NFC), which is the chip that can read a contactless card from your customer. Most modern Android smartphones have this chip located on the back of the phone, if you are uncertain you can visit this page with your smartphone to see if you have an NFC chip and test where it’s located »
Note: We are currently live in Sweden, visit this page to get started with Surfpay in your store now »