Why should small businesses invest in mobile credit card processing technology?
October 01, 2013

Investing in credit card processing technology is a smart business move for small and medium-sized enterprises. Traditionally, innovative transaction services were tools only large corporations were able to access. For example, in the early days of the e-commerce industry, few small or local businesses offered online payment options.

That trend has changed dramatically in recent years. Not only do companies of all sizes offer customers the ability to make purchases through a variety of channels, but many are also starting to accept mobile payments through devices many consumers own. In other words, electronic transaction systems have only become easier to use and access. Small and medium-sized businesses that are skeptical of making the switch to full-scale payment integration may want to reconsider their strategies. Here are a few reasons why investing in payment processing services is a safe move:

Reduced overhead costs
CPA Practice Advisor, an accounting publication, said recent advancements in mobile technology have made the process of investing in transaction processing solutions much more cost-effective for businesses with limited time and resources. Rather than purchasing cumbersome equipment, small organizations that accept payments through a variety of channels can instead access systems that seamlessly integrate different sources of income. Considering the potential for revenue growth that comes with the ability to accept mobile payments, investing in these services has long-term payoffs.

Flexible for a variety of business models
Mobile transaction technology isn't limited to retail businesses that have brick-and-mortar stores or e-commerce portals. In fact, CPA Practice Advisor said these tools are effective in increasing revenue streams for a multitude of different businesses. Delivery companies, in-home service professionals and solo entrepreneurs can all easily use integrated payment systems to offer their customers the most convenient transaction experience possible. Consumers are now incorporating mobile devices into their daily lives, which means there is a significant opportunity for businesses of all types to improve the point of sale experience.

Enhanced financial security
According to Payment Source, an online publication, the use of credit card processing services also creates a valuable safeguard against fraud and other financial risks. Companies that utilize these tools are immune to making value judgments or other missteps that can lead to a loss of integrity. Payment integration systems also create robust databases filled with purchase information that can be used to protect small companies from fraudulent customers.

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