A whopping 87 percent of adults in the U.S. have smart phones and are using them to shop, make payments, and do their banking according to a 2015 Federal Reserve Report. With mobile payments quickly becoming the next new payment platform for small and large businesses, the days of snail mail and check writing are quickly becoming obsolete. It is imperative that business owners modernize their billing system to ensure that bills get paid easily and conveniently.

Mobile payment platforms give businesses the ability to use mobile devices such as cell phones and tablets as payment systems for their customers. Many big businesses pay for expensive card readers or bespoke systems which work with a traditional checkout system; however, most small business owners have to rely on their customers paying by cash, check, or credit card. A mobile payment system makes this a lot easier. Even better, most transactions are insured so you don’t have to worry about security or insufficient funds.

There are many mobile payment options either available already or upcoming, so you can choose which payment system works best for your business. Here are a few options to consider:

PayPal Mobile Payments: If you have a PayPal vendor account, you have access to their mobile payment platform. PayPal has a proven and trusted reputation which makes it a great option for your customers and clients.

Amazon Payment Program: If you’re a vendor with Amazon, then you might want to consider the Amazon Payment system. It allows you to take payments over the phone and is another trusted source by most of the world’s shoppers.

Your Bank: If you have a business account with your local bank, then they might have a mobile payment system already in place.

Android Pay: With Android Pay, customers simply unlock their phone and put it close to the contactless terminal. There is no app to open, and customers can even earn loyalty points for paying this way.

Clover: Clover is a replacement for your payment terminal, cash register, and everything else you need to accept payments from customers. You can accept credit cards and Apple Pay. You can also run reports from home.

Shopify: This is currently one of the most popular online sales platforms and now offers POS solutions for businesses. It’s easy to set up, and you can be ready to sell in only an hour. You even get a free card reader when you sign up and the program allows you to accept more than one payment option.

Take the time to educate yourself on all the different payment platforms and choose one that works best for your company. The most important aspect of business ownership is to keep yourself and your business evolving with current trends, so missing out on this emerging type of commerce, could jeopardize your bottom line.

Lakeside Executive Suites understands the importance of staying current in your field which is why we would like to invest in you so you have more time to invest in your business. Lakeside Executive Suites is South Florida’s premier workspace provider offering your business the space, place, and support it needs for success. Our workspace solutions include full service office space and virtual office solutions which provide a professional meeting space and turn-key corporate image for your business. Our bilingual staff offer a full range of support services which include personalized telephone answering service, mail and package receipt, and reception service. With Lakeside Executives Suites, your business gains a prestigious mailing address as well as a professional meeting facility at prices any size business can afford.

Gain back time in your day with Lakeside Executive Suites so you can stay current with the latest trends in your industry. To learn more visit us on the web at www.lesweston.com or call (954) 389-2511.

Source: Small Business Trends