It can be much easier for buyers to pay for goods and services using retail mobile payment. It becomes their digital wallet, storing all their shopping information in one spot. So in this article, we will mention some of this software’s advantages and introduce 3 of the top retail mobile payment gateways on the market.
Benefits of retail mobile payment for business
Customers can use their phones to make in-store purchases with mobile payment apps. These apps take advantage of Near-Field Communication (NFC) technology, which allows buyers to pay at a POS terminal by tapping or waving their phones.
To protect personal information, the apps generally use encryption or protected code. The actual credit card number is never kept on the device or with the merchant. Instead, for each purchase, the system assigns a random number or token to conceal your card number. If a criminal does obtain access to a customer’s device or data storage, they will only get meaningless information. This provides a higher level of protection for financial information.
Using a mobile payment system to pay for goods and services has never been more convenient. Customers can leave their cards and cash at home, and use Apple Pay®, Samsung PayTM, or Google PayTM. Furthermore, retail mobile payment apps would be helpful for shopkeepers since they won’t need to calculate to return the correct amount of change.
Tap, pay and walk away. Customers are increasingly preferring this payment method thanks to its quickness. Simply waving or tapping the phone in front of an NFC-compatible terminal to use a mobile payment system. The transaction is approved for one person and no more waiting in line for others.
This contactless but secure transaction also brings quick convenience to the cashiers. The application has done the payment for them and their job is to deliver the product to the customer.
With the increasing trend of using retail mobile payment, ConnectPOS has developed a notable feature to support this gateway. It accepts various payment methods including cash, cards, split tenders, and layaways.
Top mobile payment gateway
Supported Devices: App, online or contactless in person.
As one of the most popular mobile payment apps, PayPal is also the top payment program for selling items online. This payment method is accepted on millions of websites and it allows users to send money to friends and relatives. Moreover, consumers have the option of splitting payments at the time of purchase. PayPal can be accessed via a linked payment card, such as a Visa or Mastercard.
Supported Devices: Android phones with an NFC (near field communication) chip are supported. It can also be used with a tablet.
It may be used to make online payments, contactless payments, and mobile payments within apps. Merchants can create a Google Pay account by downloading the software from the Google Play store. Google Pay accepts payments via Android and Apple devices, which is one of the nicest features.
Only if the bank or credit union that the business uses accepts Zelle Pay may an owner utilize it. Many banks and credit unions offer Zelle Pay to their customers, but not for small enterprises.
The website includes a list of banks and credit unions that accept Zelle Pay. Bank of America, Wells Fargo, and other financial institutions are among those on the list. Zelle is steadily increasing in size.
In a nutshell
Those are the top mobile payment gateways that provide speed of payment and ease of use. So if you still haven’t figured out the best retail mobile payment for your business, call us now to pick up the best solution.