Mobile Payment for Businesses
Mobile Remitter: In order for businesses to remain competitive in the new paradigm of mobile payment, it is imperative to accept this new mode of technology. With Google Wallet, Apple Pay and Samsung Pay paving the way for mobile devices to make payment, as well as new technology being implemented on sale terminals, it is likely that a mass conversion to this form of payment will occur soon.
Therefore businesses should be aware of the new technology available, learn about implementing it and proceed to make the experience of mobile payment seamless. By accepting mobile payments, businesses will enable sales to increase, improve customer satisfaction, improve payment efficiencies, decrease fraud liability, provide easy access to loyalty payments, coupons and reduce the reliance on cash.
According to Forbes, “seventy U.S. retailers, which include household names such as Wal-Mart, Target and CVS, formed a Merchant Customer Exchange consortium to take a piece of the mobile payment market by operating their own application called CurrentC”. Therefore, businesses currently possess scope, choices and options in their approach to the mobile payment system. The list of businesses that accept Apple Pay, https://www.apple.com/apple-pay/where-to-use-apple-pay, should incentivize businesses to shift to the new mode of payment.
The websites below provide information on how businesses may implement mobile payment through various companies:
1) 27 Companies that provide Mobile Payment: http://www.businessnewsdaily.com/4457-mobile-payment-solutions.html
2) Square: The company details the use of the square reader and the square stand. https://squareup.com
3)Paypal: Businesses sell more with Paypal: The company proclaims that their mobile payment application delivers “At the speed of want” https://www.paypal.com
4) Stripe: Web and mobile payments built for developers. The company offers tools that instantly enable businesses to accept and manage online payments. https://stripe.com
5) Chase Payment Tech: Chase Mobile Checkout. With proper terminal equipment Chase offers contactless payment, allowing a card to be tapped against the reader to complete a transaction. http://www.chasepaymentech.com/ 6) Payfirma: Details how a business may accept credit card payments online, in-store, and with a mobile with one account. https://www.payfirma.com/ 7) Intuit: Proclaims “Never miss a sale accept credit cards anywhere”, all a business would need to do is download the free app and plug the card reader into a mobile device. https://payments.intuit.com/
8)Moneris: Allows one to process payments, anywhere, anytime. Allows one to transform a mobile phone into a point of sale device and process payments using the e-select plus mobile app. http://www.moneris.com/en/Products-Services/Payment-Terminals/Mobile-Payment-App.aspx
9) Google Wallet: How to set up a Google Wallet merchant account: https://support.google.com/wallet/business/answer/1619772?hl=en
10) Samsung Pay: Information on Samsung Pay http://www.samsung.com/uk/news/local/samsung-announces-samsung-pay-a-groundbreaking-mobile-payment-service
11) Dwolla: Declares itself “The best way to move money” https://www.dwolla.com/
12: PaySimple: This website details how “Improve how you sell and collect for services”. www.paysimple.com
