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Do Brick-and-Mortar Retailers Need a Mobile Payments Solution?

Ready or not, traditional retailers have little choice but to become mobile savvy in response to growing consumer demand for the convenience and security of mobile payment solutions at the stores and shops they frequent.

According to the latest industry estimates, more than half of all customer transactions will involve a mobile device by 2017.  With the mobile revolution transpiring faster than many retailers had anticipated, it’s no wonder that small business owners are waking up to the stark reality that they can no longer afford to cling to outdated POS terminals hooked to back-office systems incompatible with today’s leading mobile payment technologies.

Until recently, it was widely believed that solo entrepreneurs and just the smallest of small businesses stood to gain the most from mobile payments. While it’s true that florists and plumbers have managed to benefit substantially from the advent of affordable portable mobile payments platforms, merchants of greater magnitude may have even more to gain in the coming years.

From New York to Los Angeles, restaurateurs across the United States are among those pitching yesterday’s POS systems like rotten heads of lettuce. In addition to the added security that comes from allowing patrons to pay at their table and never lose sight of their credit card, today’s leading mobile payment solutions offer a wide assortment of conveniences made possible by mobile.

PayAnywhere’s popular mobile solution, for example, lets customers select a tip amount when they sign for the transaction. The PayAnywhere app auto calculates and suggests tips, giving the buyer an easier way to customize their tip amounts when paying for a meal.

Simplifying matters further is that virtually all of today’s leading mobile payment systems require nothing more than a smartphone or tablet to operate. The only additional hardware a business needs is a card reader, and that is typically provided at no charge by their solutions provider. With a service like PayAnywhere, the free credit card reader fits into the headphone jack and is compatible with Apple’s iPhone, iPad, iPod touch. Most Android smartphones or tablets are also compatible, as are BlackBerry smartphones.

As a dramatically widening pool of retailers now exhibit, the potential benefits of mobile payments are only surpassed in number today by the diverse industries and businesses racing to sign up for affordable and secure mobile payments systems – systems that consumers appreciate, trust, and now expect.

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