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A Beginner's Guide to Selecting the Right Mobile Payment Solution

April 18, 2022

Mobile Payment Solution

Mobile Payment Solution systems are payment gateways for small businesses, home technicians, home service providers, and workers with non-digital jobs. They first popped up somewhere around the turn of the century and have come a long way since then.

 

Even so, you’re better off making an informed decision by following these guidelines.

 

Check Data Protection Measures

Security breaches have led to some expensive penalties in the past. As a small business, you can’t afford to get hacked, sued, and then deal with the aftermath of it all. It would probably include hefty payments to the victims and efforts to get your dwindling sales back up, and both require you to tap into your savings.

 

To avoid expensive data breaches, make sure you’re using a safe mobile payment app with end-to-end encryption of user data. That way, hackers can’t access a user’s credit card information, even if they do happen to infiltrate a system.

 

Mobile POS apps may predate smartphones, but they’re still uncharted waters for many businesses. Learn how to introduce the right one into yours.

 

A Golden Padlock and Two Credit Cards Lying on Top of a White Keyboard

 

Prioritize A Simple Interface

Make sure your employees know what they’re doing by selecting a system that’s easy to use, even for the least tech-savvy person under your employment. You don’t want to introduce your employees to accidentally overcharge a customer because they entered the payment as payment and gratuity.

 

You can tell if a mobile POS system is user-friendly or not by checking if it has all the basics front and center with labels. This would include:

 

  • Payment
  • Tips
  • Invoicing

Be Practical About Pricing

Mobile payment apps charge for services differently. Some are fixed monthly or annual subscriptions, so you have to pay the fee whether you generate any leads or not. These are great as long as you’re generating positive cash flow. But they can also worsen negative cash flow.

 

Other apps charge per transaction. Some ask you to pay a fixed price for every sale, and others, like ScanPay , deduct a cut of the transaction.

Mobile POS apps may predate smartphones, but they’re still uncharted waters for many businesses. Learn how to introduce the right one into yours.

Instead of charging by the month, the mobile POS solution takes a 2.5% cut out of every small and large transaction. The contactless payment app ticks all of the above boxes and more.

Reach out for any confusion regarding the features of the digital wallet service.

Be Practical About Pricing

Mobile payment apps charge for services differently. Some are fixed monthly or annual subscriptions, so you have to pay the fee whether you generate any leads or not. These are great as long as you’re generating positive cash flow. But they can also worsen negative cash flow.

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