XtendedView

  • Facebook
  • Pinterest
  • RSS
  • Twitter
  • Home
  • Technology
    • How to
    • News
    • Computer
    • Windows
  • Internet
    • WordPress
    • Web
    • Google
    • Marketing
    • Social Media
  • Gadgets
    • iOS
    • Android
    • Games
  • About
    • Our Team
  • Contact us

4 Money Processing Features via Smartphone for Small Businesses

Author: Tushar Thakur   Last updated on: April 23, 2018    Leave a Comment  

FacebookTweetLinkedInPin

The ability to accept electronic payments has changed the way small businesses operate and has made it much easier for aspiring entrepreneurs to launch a mobile business. Fewer people carry cash around than ever before, and the ability to take payments through a credit card or cash transfer app can mean the difference between making a sale and letting a customer walk away.

Not only do cashless transactions make things more convenient, they also keep everyone safer by decreasing the amount of money both parties carry around. If you’re planning to accept payments for your small business via smartphone, here are some of the top apps and processing methods to help you get started.

PayPal

Image via Flickrby mighty.travels

PayPal is one of the most popular apps for shopping and transferring money, with over 200 million user accounts last year. Thanks to its large market share and long reputation, it’s likely to be familiar, even to buyers who aren’t very tech-savvy.

PayPal grew its reputation by accepting payments for eBay transactions, and as a result, developed many different ways to resolve disputes. It now offers several built-in protections for buyers and sellers to help ensure no one gets cheated. Buyers can file disputes and claims with PayPal if the product is not as described, has flaws, or isn’t received. Sellers can defend themselves against fraudulent claims before a decision is made.

Venmo

Popular with millennials, Venmo began as a way to split the cost of a pizza or send your roommate half of the grocery bill. It’s a simple and straightforward way to send cash that offers one major advantage over PayPal — it’s free of costly fees that can eat up a percentage of the funds sent. Payments made via credit card through Venmo are subject to a small standard fee, but payments made with funds from a debit card or bank account don’t carry any cost at all.

Apple, Samsung, or Android Pay

While you may not be ready to accept payment through these apps, they make it easy to purchase supplies for your business without having to use cash or a company check. These apps come installed on your mobile device and can be used at the register at many major chains and big-box retailers. Just scan your mobile device and go, cutting minutes off each stop you need to make.

You can also use them for quick on-the-go purchases to keep your business moving, such as coffee refills and fuel stops. These apps are typically tied to a credit card or bank account, which you can set up through a few simple steps when you set up your phone.

Square Card Reader

The ability to accept credit card payments is a game changer for small businesses who thrive on getting a big sale from people who walk by. It’s much easier to get a customer to make an impulse buy on a high-ticket item when they can swipe a credit card and forget about paying for a month. The card reader attaches to the top of your smartphone and allows you to send customers a receipt via text or email.

The good news for business owners is that the Square card reader itself is free to acquire and requires no long-term commitment. Once a customer swipes, Square will take 2.75 percent of the total transaction as a fee, and deposit the rest into your bank account within a few days.

To process payments without any glitches, it’s important to get a phone with a fast processor and a network that provides fast service. For example, a Samsung Galaxy Note 8 on T-Mobile’s 4G LTE network is a solid choice that will help you process payments without issue. For a potential customer, nothing is worse than trying to pay a small merchant for a product you really want and being unable to do so. If the transaction fails to go through due to a poor or timed-out connection, a potential customer might walk away without letting you try again.

Accepting various types of payments can make or break a small business, especially in our tech-centered world. Fortunately, the smartphone in your pocket can easily become the key to unlocking these new streams of income.

FacebookTweetLinkedInPin

Filed Under: Business   

More on XtendedView Right Now!

  • How to Implement an Effective Business Intelligence Strategy

  • Logistics IndustryTop 6 Emerging Logistics Industry Trends & Innovations in 2022

  • 10 Surefire Strategies To Improve Your Customer Service

  • 5 Tips For Smartly Gamify Your Company’s Employee Training Process

About Tushar Thakur

Tushar is founder of Xtendedview. He love to experiments on different gadgets, software/apps. He is professional blogger and Internet marketer. He is Interested in electronics and computers, Internet technology, Search Engine Optimization, Internet Marketing. Running online business and Blogs

Tushar has written 546 awesome articles for us at XtendedView.

  • Find Tushar On
❮
The Best Casino Software Suppliers in 2018
❯
Boosting Your Career: Obtaining Further Training is the First Step to Improving Your Career

 Comment Policy

Your words are your own, so be nice and helpful if you can. Please, only use your REAL NAME, not your business name or keywords. Using business name or keywords instead of your real name will lead to the comment being deleted. Anonymous commenting is not allowed either. Limit the amount of links submitted in your comment. We accept clean XHTML in comments, but don't overdo it please. You can wrap code in [lang-name][/lang-name] tags.


Tell us what you're thinking... Cancel reply

If you want a picture to show with your comment, then get Gravatar!

Connect on Facebook

How To Tech

Latest Articles

  • 12 Best GBA Emulator for Windows & Android
  • A Guide to the Best Free Infographic Software of 2023
  • Best Alternatives for Logic Pro X on Windows 10
  • Reverse Video Search: How to Search on Google Using Image or Video File

Featured Articles

  • How to Turn off Laptop Screen Manually
  • Best Alternatives for Logic Pro X on Windows 10
  • Digital Ocean Review: Cheapest cloud hosting
  • How to run Android applications on MAC
  • How to remove login password from windows 8
  • How to Play Android games on Windows PC

Trending Topics

  • Android 22
  • Apps 23
  • Automobile 6
  • Blogging 42
  • Business 119
  • Computer 130
  • Education 28
  • Games 11
  • Games 167
  • Google 13
  • How to 82
  • Internet 234
  • Marketing 12
  • Mobile 58
  • Technology 230
  • Windows 16
  • Wordpress 13
  • Some Rights Reserved. Xtendedview | Copyrights 2011-2022 | Site Map | Privacy Policy
  • XtendedView is built on WordPress
  • WordPress Hosting by Bluehost