As the retail landscape evolves, mobile payment apps are being used by an increasing amount of merchants––making credit card transactions fast and easy for both businesses and their customers. Sage aims to provide businesses with credit card processing apps that enable customers to securely pay for goods and services at the blink of an eye.
How mobile payment apps work
Using mobile applications to accept and make payments couldn’t be easier. Most mobile credit card payment applications can be quickly downloaded from the Apple Store or Google Play. At the front end, all that you need is a basic card reader that plugs into a smartphone or tablet. You can get this from your mobile payment processor.
Swiping a card through a mobile card reader is no different to doing so at counter terminals––a process almost everyone is familiar with.
Once the customer has swiped their card, completing the transaction is usually a very simple process.
To make things easier, many mobile credit card processing apps provide clear instructions on the device’s screen, offering the merchant a walkthrough of how to collect the customer’s signature, and either print a receipt or send it to the customer via email.
How mobile payment apps help your business
- Mobile app payments are ideal for businesses that deal with frequent, low-value transactions ($20).
- Customers spend less time waiting in lines and can check out quicker.
- There’s no additional set-up required as the terminals come pre-programmed.
- Elevated security barriers like fingerprint technology help protect against fraudulent use.
If you don't accept mobile payments yet, you are limiting your customer base. Research from our 2017 Payments Landscape Report, a survey of 1000 SMBs and shoppers, shows 63% of shoppers expect mobile payment apps like Samsung Pay and Apple Pay to be the preferred method of payment by 2020.
What’s more, research shows that smartphones are saturating the market––with 77% of Americans in possession of one, according to Pew Research. These figures point towards a growing trend where more and more consumers will be able to make payments using their phone in the near future.