We are increasingly moving toward becoming a cashless society. According to a July 2020 report by the Federal Reserve Bank of San Francisco, only about 23 percent of the US population prefers to pay by cash. And that number is based on research conducted before the novel coronavirus turned our world upside down.
If the consumers’ love affair with cash was dying before the COVID-19 pandemic, the ongoing health crisis could very well serve as the final nail in the coffin. As a small business owner or an independent service provider, you would have noticed this trend as well.
With a heightened focus on hygiene, customers no longer prefer to carry or handle banknotes and coins that exchange multiple hands. This is why the economies that have traditionally been cash-based, such as Japan and Germany, are also witnessing a cultural shift in people’s payment preferences.
If there ever was a time to start accepting credit card payments and make your business more lucrative to customers, it’s now.
CREDIT CARD READERS FOR YOUR SMALL BUSINESS
Traditionally, millions of small business owners and service providers such as plumbers, electricians, painters, cosmetologists, hairdressers, therapists, food truck owners, etc., have shied away from accepting non-cash payments because conventional credit card terminals and point of sale (POS) systems are bulky, expensive, and difficult to handle.
But, today, technology allows you to convert everyday mobile devices, like smartphones and tablets, into a nifty yet powerful mobile point of sale terminals (mPOS).
A mobile credit card reader is a compact device that fits right into your pocket. It can either be plugged directly into your mobile device’s headphone port or connected via Bluetooth. A credit card reader app gets the device up and running. And as such, any small business that has access to reliable Wi-Fi coverage or mobile network, can start accepting electronic payments in a jiffy. This simple pay-as-you-go solution has opened the doors to several advantages for small business owners and service providers.
9 REASONS TO GET A MOBILE CARD READER
The benefits that a phone credit card reader can bring to your business are too big to ignore:
- Provides Convenience and Accessibility
- Reduces Wait Times
- Widens Your Customer Base
- Opportunities to Sell More
- Improves Customer Retention
- Gateway to Contactless Payments
- Adds a Professional Touch to Small Businesses
- Online Record-Keeping for Customer Management
- Protection from Physical Costs of Maintaining Cash