5 Benefits of Accepting Business Payments with your Mobile Phone

 Are you one of the many business owners who are still hesitant to start accepting payments with your mobile phone? If so, you're missing out on a lot of great benefits. In this article, we'll explore five of the top benefits of accepting payments with your mobile phone. Tap to Pay

 
In order, these are: -
 
Convenience
Security
Efficiency
Versatility
Cost Effectiveness
 
Convenience
With mobile phones becoming ubiquitous in the modern world, it makes perfect sense to use them to process business payments. Staying ahead of the mobile revolution and technology curve by accepting payments with mobile devices is a convenient way for businesses to keep their customers happy.
 
These mobile payment options are incredibly easy and secure, while also providing payment visibility so both the customer and merchant can stay up to date on the status of payments. This paperless system also means that businesses do not have to worry about dealing with redundant paper trails or purchasing costly equipment. Gone are the days of waiting days or even weeks to receive payments – mobile-enabled payments are fast, efficient, and incredibly cost-effective.
 
Security
Making mobile payments with a mobile phone today is not only convenient but also safe and secure. Many mobile wallets and payment apps that allow for mobile payments utilise sophisticated security protocols to protect customers and their business transactions.
 
Advanced encryption techniques keep any personal data used in mobile payments protected, while creating unique identifiers for each transaction, reducing the chances of fraud and unaccounted payments. Additionally, mobile phones are equipped with biometric authentication like fingerprint or facial recognition technology which makes mobile payments even more reliable and secure. Lastly, all mobile payments are subject to the same banking regulations as other digital payment means, meaning businesses can have economic reassurance when they accept payments via mobile devices.
 
When using a mobile phone to accept payments, it's important for businesses to ensure that all apps are up to date, and those apps allow for modern, secure payment methods such as Apple Pay, Google Pay & Samsung Pay.
 
Speak to the team at Pebl if you'd like to learn more about securely accepting business payments through your mobile phone.
 
Efficiency
Accepting payments with your mobile can be more efficient than traditional payment methods such as EFTPOS machines or virtual terminals.
 
With mobile phones, businesses are able to take digital payments wherever they go - no extra hardware or long setup times needed. Currently, getting approved for an EFTPOS terminal can take up to twelve business days. Having the hardware delivered can take another 3 business days.
 
Comparatively, getting set up with a company like Pebl, which allows businesses to accept all major payment types using only their phone, takes as little as five minutes.
 
The mobile-friendly process also makes it easy for customers to pay quickly and securely with their credit or debit card - especially when utilising QR codes.
 
Plus, mobile payments offer an unparalleled level of convenience and competition within the consumer space, allowing many businesses to increase their customer base and revenue. All in all, mobile phone payments represent an invaluable asset for businesses seeking to streamline their payment processes.

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