When customers come to the register to pay for their meal or purchases, many can now simply hold up their mobile phones instead of pulling out a credit card. Mobile payment has really taken away the requirement that you have to build big systems and be a large company to be successful with technology. In many ways, it is easier for small businesses to adopt mobile payment programs because they don’t have a large infrastructure to work through so small businesses can jump right in. Here are five ways of offering a mobile payment to your customers will help you increase sales:

Integrate and increase incentive programs

One of the biggest benefits of using a mobile payment option is the ability to integrate loyalty and incentive programs into the mobile payment applications. Instead of customers having to keep up with punch cards or key ring tags, all of their information is stored in the application each time they make a purchase with their mobile device. If businesses use technology to link a payment to their points or other loyalty programs then it adds value to the customer. This makes the customer want to return, which then increases revenue.

Ability to offer credit card payments

Previously, many small businesses, especially those operating at remote locations such as a farmers’ market or a food truck, were unable to accept credit card payments. Being a cash-only business often decreased sales because customers without enough cash on hand were unable to buy their products. So when a cash-only business can start to accept credit card payments through a mobile payment program, they immediately increase their customer base and increases sales.

Track customer trends and inventory

A common struggle for small businesses is tracking inventory and customer behaviour. But with mobile payment services, you can automate these processes and better serve your customers. Small businesses using mobile payments can now track what product and services they are selling to understand customer demands. Not only can they now capture payment information, but they can learn about their customers and use that information to improve service.

Increase speed of checking customers out

Customers like quick service, especially when paying since that is typically their least favourite part of the shopping or dining experience. Most customers and staff find that it’s considerably quicker to pay with a mobile device than a credit card. Customers typically are more willing to return if they don’t have to wait a long time in line. The time savings can also directly increase profits by allowing you to accommodate more customers in the same period of time, especially for businesses with a very busy period during the day, such as a lunch rush at a restaurant.

Save money on credit card fees

Some mobile payment companies charge less per transaction than credit card companies, which equates to direct savings for the company. You can use Jumia Pay for your mobile payments to help you save money on mobile payments as well as get juicy rewards.


https://iwonpopular.com.ng/key-benefits-of-mobile-payments-to-increase-sales/


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Good writeup.

It is a good development

If you know u know

Your mobile app can do more than you know

Check out my signature

nice

good write up, but most webdesign company in Lagos will want to integrate a payment gateways that is dynamic and has good customer care

That's key. But how can mobile systems be integrated into transactions like land title searches, and even payments.

ok

Epayment

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Nice thread anyway for those who know

But what exactly is mobile payment?

Is it transferring recharge airtime balance?

Or is it making payments using Mobile apps & POS?

What?

DonCaxton:
That's key. But how can mobile systems be integrated into transactions like land title searches, and even payments.

For example, if someone wants to conduct the title search for the fantastic plot of land around Opebi link road, with it's C of O, which is for sale at just 55m, how can mobile systems make the transaction easy? Though I'm sure the seller can accept mobile payment.
With the over 9,055,138,965 mobile apps available, there isn't any that can do that.
There are about to 803, 354, 0956 mobile transactions daily in Africa. Something to think about.
Interesting.

this is really a sensitive area that needs a lot of research on and if implemented, would go a very long way in solving problems.

bluefilm:
But what exactly is mobile payment?

Is it transferring recharge airtime balance?

Or is it making payments using Mobile apps & POS?

What?

Nice
Do you want to integrate payment into your app or website ?
Do you want your customers to pay with their cards ?
Do you want your customers to pay you with bitcoin on your site or app ?
Do you want to build a website or app ?
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