More often than not, we find ourselves struggling to find the most accessible way to send and receive money or simply just having other payment options. As technology evolves, so do contactless payments.
With the rise in mobile payment applications, we're met with more and more options that make everyday purchases more convenient for us. Today, we can make our payments through our digital wallet, eliminating the need to bring cash around. We see this in how the mobile payment industry was expected to see $130 Billion in transactions last year.
The recent pandemic has caused many people to find opportunities elsewhere. As a result, more and more people have decided to take this opportunity to create their own businesses. And therefore, more and more people are in need of new ways to transact payments.
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It would be difficult to start your business without being able to take note of the best mobile payment apps. These contactless payment solutions have grown over the past year alone. Here are a few applications you might want to consider when starting your own business:
It's quite easy to be a user of the application. Simply download the app and signup to add your account. PayPal has business partners all over the world, catering to thousands of businesses.
Because of its sophisticated encryption, hackers might find it difficult when trying to breach your security in your PayPal application. Paypal also brags about its protection of eligible transactions to ensure the quality of account purchases.
PayPal also lets users connect their credit cards as well as their debit cards to make things a lot more efficient. With that, purchases should be transacted much more efficiently.
If you’re always worried about having to split a cab fare or bill at a restaurant you might want to check out Venmo. Whether debit card or credit card, the customer only needs to worry about what they want to pay for. It can even connect with PayPal, further improving its connectivity.
More than just sharing the bill among friends, the app will also connect directly with the user's bank account, allowing for easy management on their end. Any citizen of the US above 18 years old qualifies for a Venmo account.
Supporting this mobile payment app in your store will surely make it easier for customers to make purchases. Considering all the positive reviews they've gotten, it's no surprise how easy mobile payments are with Venmo.
While it's specific to Samsung devices, Samsung Pay makes it so much easier for such devices to do their transactions contactless. Samsung Pay is a built-in app for Samsung devices and has immediate activation giving everyone a hassle-free experience.
The Samsung Knox feature allows customers to pay without leaving them at risk of having their credit card or debit card exposed. Instead of exposing, say, your credit card number Samsung Knox instead provides a set of unique numbers, hiding your information.
The Samsung Pay loyalty program, meanwhile, lets users collect points helping you make the most out of their money and their digital wallet.
Available on most Android phones, it's quite easy to access Google Pay. Being accessible to bpth Android and iOS devices, its services for its market include excellent customer support for its users.
What makes Google Pay so alluring is that cash withdrawal fees don't factor in during shopping binges. Google Pay also makes it so much easier to consider that the user might be splitting the bill. Moreover, the Google Pay app also does immediate verification, speeding up any transactions done through the app.
The Google Pay mobile payment app will also connect with a user's credit card. On the store's end, a device will be required to accept a payment card.
No Android support here. While focusing solely on Apple devices, Apple Pay makes it much easier to process transactions and utilizes the technology they've tailored to their devices in order to make your day-to-day transactions straightforward.
Apple Pay also boasts of a quick verification feature that will help you make purchases safe yet efficient. Curious about your purchase? Customers can worry less because the App Clip feature lets them preview what they're buying along with the iOS 14 update.
To accept cashless transactions via Apple Pay, the store will need to have a credit card reader or a similar device before establishing the merchant account.
While it varies from payment app to payment app, users actually have a quick and easy way to store their card details or add cash directly to their app of choice. Given this, many apps have made it available for merchants to use them for their businesses in hopes of attracting users to acquire and trade their products through their devices.
Any payment provider that makes it accessible for merchants to apply is qualified to be considered as the best for that merchant. Reading up on account requirements, their associated fees, and any flaws they might have will allow you to understand which is the best fit.
It depends on the mobile payment apps the users might be considering. Paying your small business could simply be a send money feature or having access to your bank account and securely transacting the payment.
It's much easier now for card payments to come through. Banks have made it convenient for customers to access their bank accounts and send money from their devices. With or without mobile payment apps you might even have ways to avoid having to use cash and pay through mobile bank transfers.
It's quite difficult these days to either pay in cash or pay without using your e-wallet. Thankfully, it's also become quite convenient that there are many ways that we can access our bank account from our devices. You can read more about the mobile payment industry at ProcessingCard.com today.
