The Best Ways to Accept Payments This Holiday Season
The days of “cash, check, or plastic” are waning as consumers increasingly move toward innovative payment methods that don’t even require a wallet. Thanks to technology, consumers can pay using their smartphones in a wide variety of ways. As the Christmas season begins, retailers are beefing up their payment options by accepting the following innovative payment methods.
The big talk this Christmas season is the brand new iPhone 6 and 6 Plus, both of which include near-field communication (NFC). Using the credit card stored with their iTunes accounts, customers can pay at participating stores by merely holding their phones near the contactless reader. Many major retailers have already signed on with more currently in negotiations. To begin accepting Apple Pay at your location, you’ll first need an NFC-enabled POS to read cards. You should also investigate whether your customers are interested in using the technology before you make the transition.
Like Apple Pay, Google Wallet operates using NFC on either Android or iOS. The number of participating businesses is small but growing, as more merchants add NFC devices to their locations. Once you’re ready to make the switch, contact Google to set up Google Wallet payments for your website or online store.
Smartphone payments are exciting, but what really has the consumer market buzzing is the prospect of paying by smartwatch. Now that PayPal’s app works with the Pebble smartwatch, merchants have an even greater incentive to integrate PayPal acceptance into their payment processing solutions. To use the app, Pebble watch simply log into the app at checkout and the watch automatically interacts with a merchant’s POS system. The same technology can already be used by smartphone users in businesses that accept PayPal Here payments.
For online retailers, one way consumers are adding convenience to their holiday shopping with Visa Checkout. With shoppers increasingly using mobile devices over PCs, entering credit card numbers for each purchase is more of an annoyance than ever. With Visa Checkout, Visa cardholders can store credit card information and billing and shipping information with the company’s checkout button. Whenever a customer is shopping online at a store that accepts Visa Checkout, with one click payment can be completed, with no card number entry required. Businesses can make things easier for their customers by adding the Visa Checkout button to their websites.
Venmo is designed to allow friends to transfer money back and forth for free, with a newsfeed that lets everyone in their network know when one person has paid another. Small businesses are learning the benefits of Venmo for regular customers, which can be especially beneficial for employees at hair salons, pet sitting services, housekeeping work, and any service provided on a regular basis to the same person. Additionally, every time a customer pays you, your business name will appear in his newsfeed, for all his friends to see.
This holiday season, technology is making shopping and paying for gifts easier than ever. By equipping your point of sale systems and online payment gateways with the latest options your customers are using, you’ll enjoy better sales and quicker transaction times in your stores.