By: Mia Huntington
The future of business has never been brighter, with digital transforming the way small, medium and large organizations operate in every space, from marketing to payment processing. With new advances in technology and innovative solutions that help bring in sales and customers, you now have plenty of options for effortlessly keeping up with the latest trends in the payment industry. Here are five tips you should know that will boost sales, increase productivity and make your life easier.
Digital wallets. These handy mobile apps efficiently store everything a bulky physical wallet can, such as credit cards, debit cards, gift cards and other loyalty cards. It’s the smart way to pay for anything and everything that a quickly growing base of customers prefers to use, especially the coveted millennial demographic. To accept mobile payments, simply choose a POS system that accepts all payment types, including contactless.
Top-of-the-line security. With high-profile security breaches like Equifax recently in the news, safeguarding data is top of mind for both customers and business owners alike. That means choosing a payment processor that stays ahead of the curve when it comes to security technology. Two features to look for are tokenization and encryption, both offered at Elavon. Tokenization protects unique customer information by converting or replacing the cardholder data with a unique token value that can be stored and then used for future transactions. This adds an extra layer of security to the data at rest, as the token is meaningless by itself and can’t be exploited if intercepted by hackers. Encryption protects data in transit by digitally scrambling information for security purposes.
Mobile. The beauty of wireless tech is that, sales can happen wherever you and your customers are — whether it’s on the jobsite, at a street festival or in your home office. Mobile payments allow you to close the sale as soon as your client says yes, without the hassle of handling cash. Your customers will also appreciate the ability to pay with credit, debit and other popular payment options like Apple Pay and Android Pay. For an easy-to-use, flexible and secure mobile payment solution that allows you to take payments anywhere your business takes you, check out Converge Mobile.
Seamless omni-commerce experience. Today, the lines between the virtual and physical are blurring, with customers wanting (and expecting) the same great experience when dealing with your brand in-store, online and on mobile. This means going omni-commerce, with a fully integrated payment system that allows your customers to use the same card across all digital and bricks-and-mortar points without a hitch, including refunds and exchanges. Omni-commerce also offers an abundance of data — a trend so obvious and essential in a digital world that it didn’t make this list — including info on each client’s shopping habits as well as sales and inventory data.
Form meets function. A top trend today is the melding of intelligent function with smart design for a payment experience that’s easy and enjoyable for you and the customer. Poynt is the latest payment solution product to tap into this design philosophy, and it’s an all-in-one smart device that looks great and allows you to take the checkout to your customers. The wireless device features a mobile and countertop credit card terminal, printer, signature pad, PIN pad and docking station. It’s Wi-Fi-enabled, accepts all payment types, and includes robust reporting, powerful security and strong support from Elavon, 24/7.