Easily accept payments from customers when you’re out working in the field
When you’re out in the field servicing customers, you need to be as fast and efficient as possible. Your customers are busy and so are you. No one has time to wait around for their payments to process. You need to get to your next job, and your customer has to get back to their daily tasks.
Thankfully, with mobile payments from Stax, you can quickly accept and process payments from your customers. You’ll get paid right away and they’ll be satisfied with the transaction.
Learn all about mobile payments and why you may want to consider joining the Stax family to streamline payments and boost your business’ productivity.Learn More
What Is Mobile Payment Processing?
Mobile payment processing means exchanging money through a mobile device such as a cell phone, smartwatch, or tablet. For example, if a field services roofing technician visits a client to install shingles, when they’re done, they can send the customer a link in a text message to pay for the installation. A client could also go on their cell phone and click a secure link in their email and pay.
As the world goes cashless, more and more people and businesses are choosing to use mobile payments. According to Statista, in 2019, there were 950 million mobile payment transaction users worldwide, and by 2023, it will jump to 1.31 billion.
To stay competitive and make their customers’ lives as easy as possible, business owners need to consider offering mobile payments. It isn’t just for young people or startups; anyone with a mobile device can utilize mobile payment processing because it’s so simple.
Paper-Based Payments vs. Mobile Payments
You’re using traditional payment methods such as cash, checks, and credit and debit cards. Perhaps you haven’t considered adding mobile payments into the mix. However, it can have a positive impact on your business if you do.
Why? You’re giving customers more options and providing them with an easy, convenient, and secure way to pay. They probably don’t like writing checks or carrying cash, which is risky. You’ll be able to expand your client base to people who prefer mobile payments just by downloading the Stax iOS or Android app in a matter of minutes. Plus, you’ll get paid on the spot, as opposed to waiting for a check to clear.
Let’s say you only accept cash or checks. One of your employees goes out into the field and then they lose your customer’s check or cash. What next? You don’t want to look unprofessional to your customer, but you also need to get paid. Stax can save you from that headache with less room for error.
Additionally, if you’re accepting debit and credit cards, those processing fees can eat into your profits. Why spend more money on payment processing than you have to?
Keep in mind that you do not need to eliminate cash, checks, and debit and credit cards altogether. Customers who aren’t well versed in mobile payments may not know how to use them or they could be skeptical of them and unwilling to change their mind. You could always give them the ability to pay with more traditional methods, too. If checks are the standard form of payment for your business or industry, here’s some good news: Stax has an electronic ACH processing feature for easy collection.
How Secure Are Mobile Payments?
Mobile payments are much more secure than cash and checks. Your field services representatives can lose cash or checks, or a check can bounce. Though it may rarely happen, cash can be counterfeit as well.
Hackers can also steal customers’ information when they swipe their debit and credit cards on an in-person device. With mobile payments, customers’ financial information is encrypted so that hackers cannot see it. Essentially, when a payment is sent, the customer data is scrambled and hackers are unable to decipher what it means. This is much less of a chance of your customers’ information being stolen.
Using platforms that carry the highest level of security is critical. No matter how and where they collect payments, every single business using Stax is protected with the highest level of PCI security standards.
Of course, no system is perfect. You should still take the necessary precautions to protect your mobile devices, like placing a secure password on them that only certain employees know. Another good idea is to change your passwords periodically and to ensure that employees who are no longer with your company cannot access your mobile payments processing system anymore.
Company cell phones and other mobile devices should only be utilized for business and not personal use like browsing websites or going on social media. If employees browse the web while working, they could stumble upon a website that installs malware on the device. You should provide your employees with best practices for using your devices, such as never clicking on suspicious links or emails from unknown senders. Keeping your mobile devices updated and using anti-virus software can also provide advanced protection.
How Affordable Are Mobile Payments?
When you take traditional payment methods like checks and cash, you have to spend time and money going to a bank and depositing them. If you accept credit cards, you can pay a processing fee of around 1.3% to 3.4%, along with the payment processor’s fees.
But with mobile payments from Stax, you will only have to pay an affordable subscription price. When it comes to processing, you won’t get charged any extra fees on top of what the credit card companies charge. You will save big, especially as you scale up and grow. The more you process, the greater the chance you’ll have of a higher return on investment even with the processing fees. Because with Stax, you’ll have direct access to the true rates.
The Stax model is 100% transparent and won’t hit you with any hidden fees. You won’t have to worry about paying multiple vendors since you can process and manage all your mobile payments in one place. You will always know exactly what you are paying for and why.
Signing Up for Stax
You can easily sign up for Stax today. All you have to do is contact Stax to speak with a Payments Consultant. Stax not only provides secure, affordable, and contactless mobile payment processing; it also offers companies an all-in-one platform of scalable business tech to manage invoicing, financials, sales data, inventory, and customers.
Stax provides our customers with a real and clear view of their finances so they can make better decisions for their business. Once you sign up, you’ll be empowered to grow and ensure your business is a success, one mobile payment at a time.