If you’re the new start-up on the block, you want to take advantage of the latest and greatest technology available. Mobile payments have paved the way for businesses to move away from cash and card transactions and more towards a digital economy. ePayments have completely streamlined the payment process for both customers and businesses. Here’s why offering mobile payments is great for your start-up.

Improved Security

Mobile payments provide an extremely secure way to handle transactions. Like EMV chips, mobile payments tokenize all payment information which keeps it secure and encrypted. Security is a huge concern when handling transactions. The more secure your payment process is, the more likely customers will come and make purchases at your store.

Accommodate your Customers 

Nearly every aspect of life in the modern world is moving online, more specifically it’s moving towards mobile.  Bank of America recently released a study that suggests nearly 39% of millennials interact with their smartphones more than their significant others on a daily basis. The facts don’t lie, our world is going mobile. By providing a mobile payment method to your customers, you’re showing that you value their technological preferences.

Loyalty Programs

Loyalty programs are a great way to keep customers coming in your door. The great thing about mobile payments is that they work hand in hand with loyalty programs. Plenty of mobile payment providers offer loyalty options already built into the technology. Your customers can keep track of their points on their devices creating a fun and efficient payment experience.

Easier Accounting

One of the greatest things about ePayments and mobile payments is that it makes bookkeeping a breeze. Most mobile payment providers have dashboards that allow you to keep track of transactions. The less paper you have to deal with, the easier it’ll be to do your accounting. Imagine if all your payments were mobile, that would save you a lot of time and money.

Whether your start-up launched yesterday or you own the friendly neighborhood coffee shop, it’s imperative that you keep up with the latest trends in payment technology. If you haven’t already done so, it’s about time you provide your customers with a mobile payment option.

Renzo Costarella is an entrepreneur, avid learner, and startup enthusiast currently living in Silicon Valley. He consults for several startups in the Bay Area and is pursuing a few ideas of his own.

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