Tips for retailers investing in mobile credit card processing tools
November 15, 2013

The ability to accept mobile payments is one of the biggest trends taking over the retail industry. According to The Wall Street Journal, advancements in technology have caused a majority of U.S. consumers to increase their standards for what counts as a convenient, in-store shopping experience. Long wait times at checkout counters and a perceived lack of quality customer service are all factors that have a profound impact on consumer satisfaction.

Even more importantly, advanced electronic payment systems provide small and medium-sized businesses with valuable tools that streamline many otherwise time-consuming backroom financial tasks. The Journal reported many large chain retailers were interested in updating their transaction processing systems last year. However, these trends have now made their way into the small business landscape as well. No matter the size, any organization can benefit from increasing payment processing efficiency with advanced tools.

"Retail - the entire shopping, buying, paying, servicing, researching and promoting ecosystem - is being de-constructed by smartphones, social media, location data and the cloud, with power flowing outward to every potential buyer," Brian Hall wrote in Mobile Payments Today.

Businesses that are interested in incorporating mobile credit card processing tools into their existing operations may first want to consider these tips:

Train employees
Equipping store clerks with smartphones and tablet devices that make it easier to accept credit card payments from shoppers at any location in a brick-and-mortar establishment requires careful planning. Because these mobile devices are often connected to the Internet and various applications, CIO, an online news publication, said it may be easy for employees to become distracted by features unrelated to the in-store experience. However, proper training will help business owners set boundaries for operating these enhanced point of sale tools and ensure clerks on the showroom floor focus first and foremost on attending to the needs of individual shoppers.

Invest in quality infrastructure
Another important issue to consider when installing advanced point of sale technology in the in-store environment is the need for a reliable Internet connection. According to CIO, poor wireless quality can quickly negate all the benefits of a mobile credit card processing system. For instance, an Internet network that periodically shuts down can result in lost transaction data. These risks may ultimately affect a company's bottom line. Small and medium-sized retailers can only experience the full benefits of accepting mobile credit card payments if they have the proper infrastructure in place to support such technology.

Nexus: G-WEBCD2