One of the basics of running a successful business is having the means to accept people’s money. It may seem like a no-brainer, but many services still lack the ability to take debit or credit cards, or to allow people to pay online. If you want your business to keep up with the modern world, you have to have your finger on the pulse of consumer activity. If everyone else is beginning to pay for goods with cards or even their smartphone more than with cash, you need to meet their needs. Look at the payment solutions below to ensure that you’re using the ones appropriate for your business.
In-store Solutions
People have been trading from brick-and-mortar stores for a long time. But payment solutions haven’t remained the same. Things are very different when compared to the times when people would only have taken cash in and out of a register. Apart from ever more sophisticated cash registers, which do any number of clever things, there are other ways to update your in-store payment system. If you aren’t accepting cards, you’re already behind the times. There are lots of ways to accept cards in-store, using pin pads and card terminals. Some stores even use point of sale systems that integrate with an iPad or smartphone.
Online Payment Options
Not every business offers online sales. But it’s increasingly popular for companies to sell both online and offline. Presenting several ways for your customers to pay online will make their purchases easier. So they’re more likely to buy from you. You can use an e-commerce solution that allows you to accept credit cards online, integrating the payment system with your shopping cart. If you offer a subscription-based product or service, it can also be useful to use a solution that checks card information before transactions. That way, you don’t run into issues with outdated card information.
Mobile Payments
It’s becoming increasingly necessary for some businesses to be able to accept payments on the move. That could mean simply walking around a retail space, such as a restaurant or cafe, or traveling the country. Mobile payment solutions make it easy to accept payments from cards, phones or online. You can use mobile apps on phones and tablets to allow you to take credit cards. There are also attachments that you can plug into your mobile devices.
Sales Analytics
As well as tools for accepting credit cards, one of the best things about payment solutions is the insights they provide. Whether you use a highly technical cash register or a mobile payments solution, you can gain valuable statistics about your sales and customer behavior. It’s an excellent way to learn what’s selling and what isn’t, and to increase your profits and sales using the data you have access to.
Make the most of your payment solutions by integrating them with other tools. For example, you can use them together with invoicing or bookkeeping software. You can make your whole business more efficient and profitable by using the right tools.