If you’re in the business of selling, whether you’re providing eager buyers with bricks or Bosnian cuisine, you need to be able to process credit card payments, you already know that. However, you may not know just how much better your business could be if you stepped away from the cash register and picked up a mobile card reader instead.
While it may not necessarily be time to put up the cash register for good, there are some pretty compelling reasons to go mobile in today’s fast-paced business world.
- Mobile Readers are Smaller, Simpler and Better
Business News Daily reports that failing to accept credit cards can lose you a lot of money, no matter what you’re selling, but many people are often put off by bulky equipment that requires hours of training and specially contracted repairmen to service in times of trouble. Mobile credit card processing break this trend entirely with small, unobtrusive and inexpensive devices that plug right into your smart phone or tablet.
With the amount of experience most people have with touch-based interfaces and the ease with which many figure out new apps, training an employee on using a mobile reader to accept payment takes a matter of minutes instead of a matter of days—or weeks—and that gives you more time to actually run your business. Not to mention if something goes wrong, you can just switch the reader to someone else’s device or take your device in to your wireless phone provider for a quick repair. No more dealing with contractors from a hundred miles away or driving three towns over to find someone who knows how to fix your register!
- Going Mobile Broadens Your Reach
Being able to take your business anywhere doesn’t just make it easier for you to get out of the shop now and then, it makes it possible for you to extend the reach of your business as far as you’re willing to go. No festival is too far and no trade show runs too late when you have a mobile card reader. You can make sales and take payments from anywhere you have a data connection, allowing you to make long-distance entrepreneurial connections and state- or nationwide sales that bring your brand wherever there’s a market for it.
- You’ll Never Miss an Opportunity
Have you ever found yourself in the middle of a conversation with a complete stranger or distant friend at a café, outside the movies or at the grocery store and ended up on the verge of making a great sale, then losing it when your conversational partner admits to not having enough cash in their wallet? You can give them a business card and say they can buy it online, or you can pull out you card reader and take a credit payment then and there. Never miss out on these golden profit opportunities again.
- Fees are Usually Minimal
Unlike the large cash register you may keep in the shop, mobile credit card processing rarely requires a large monthly fee or initial investment. Most readers are free to start, with each additional reader priced under $20, and the only fee you have to deal with is a small percentage off each sale. This is usually around three percent, but can be as low as two and as high as five—any higher than five and you’re looking at something a little bigger than you probably need. Not to mention that, according to Staples, most mobile readers connect directly to your bank account rather than requiring a large monthly fee to a merchant services provider. Saving money on two fronts is definitely better than one.
- Many Apps Can be Synced
A great deal of mobile apps, like the one Shopify provides with their mobile reader, come with the ability to sync to some inventory and accounting programs, allowing you to keep track of what you’re selling, how quickly and how much you’re making in the process. This allows you to more easily track your sales opportunities from venue to venue; if you find you’re only selling a couple dishes at the farmer’s market or one type of shirt at the summer festival, it’s easy to adjust your sale strategy to capitalize on the interest of your audience.
This also allows you to keep track of inventory both in-house and offsite, making it possible to check the store for more of a particularly popular product without ever leaving your booth.
There are plenty of other benefits to adding mobile payment processing to your business, many of which are only noticeable once you’ve tried it for yourself. Business Insider reports that up to 40 percent of small and mid-sized businesses in the United States are already mobile; the freedom offered by mobility could allow you to grow your business like you never thought possible, so what’s stopping you? Find the best one for you and take your show on the road.