Times have changed—and so has technology. According to one survey, 50% of people carry cash less than half the time they’re out and about. And half of those 50% keep less than 20 dollars on hand.
With in-store mobile payments likely to reach $2 trillion by 2020, offering a mobile pay option will soon go from “nice” to “necessary.”
Not sure how to approach adding mobile pay to your payment options? Read on to learn how—with forethought, training and small business swag—you can keep your electronic piggy bank fed.
Pick a payment method (or two!)
There are a variety of mobile payment types to choose from, each with their own advantages and disadvantages, including:
- Transaction fees
- Special equipment
- Compatibility with Android®/Apple® products
Be sure to research mobile payment options before selecting the one that’s right for your small business (and more importantly, for your customers).
If you want to know what kind of payment methods your customers would prefer, just ask them! Keep a short survey on hand for customers visiting your business. Give them a stylus pen to fill out the survey and keep as a thank-you giveaway. You can also survey your email list and social media followers. Mail respondents a cell phone wallet as a thank-you.
Get your staff ready (with a little help)
Learning a new payment system will involve a learning curve. Why not make it as comfortable as possible for everyone?
Before you launch your new payment system, invite a few of your favorite customers to stop in after hours to try it out. Offer them a special discount or small business swag as a thank-you for their time. Give your customers and employees-in-training a stylish laptop tote to show them you appreciate their help in making this transition go as seamlessly as possible.
Once your new mobile pay system is in place, let people know with some fun small business swag. If you have a storefront, put up a tabletop banner to draw attention to your new tech. Or offer a thank-you giveaway, like a smartphone USB drive, to everyone who tries the new mobile pay option.
A new (electronic) day
With mobile pay becoming more common every day, using it in your business will keep you from leaving money on the table. And with the help of small business swag, you can get your new mobile pay system off to a great start.