Your business needs to accept contactless payments in-store and mobile payments online, in 2019 mobile payment users topped 8.3 million in the United Kingdom. There are many different card machine options for small businesses but we recommend XEPAY - this gives you a low-cost card payment machine with so many benefits suited to your business.
Mobile payments are growing quickly throughout the world. According to the Global Mobile Payment Market report, the market is projected to grow at an annual rate of 33% between 2019 and 2026, reaching $457 billion in 2026. One of the reasons mobile payments continue to rise is because the usage of smartphones is also increasing. We are a society addicted to our devices, by the end of 2018 almost 60% of our online activity took place on mobile whilst just 40% took place on PC/Laptop.
There are lots of opportunity for mobile payments in the UK. Firstly, young consumers are already accustomed to doing all their online activity from mobile and therefore this is a prime opportunity for you to convert mobile users into paying customers. These behaviours are also seeping up into older generations.
Benefits of mobile payments don’t just include the conversion of users into customers. There are many other aspects of mobile payment that can benefit your business.
Firstly, you can track customer trends and inventory instantly. These systems can be used to automatically saving you and your employees time and giving your customers a better experience. Plus the transactions can be tracked giving you valuable data about customer behaviour.
Mobile payments can stimulate impulse purchases that can be done quickly and conveniently by customers. Rather than having to go on a laptop or PC, the process can be simplified enabling customers to complete the entire transaction from the comfort of their sofa, on the bus or even whilst cooking dinner. Nothing beats a simple POS system like XEPOS. With no contract, no PCI fees and getting you a complete EPOS system for only £149, there is no way you could resist!
It ensures its front end system is simple for customers and the back end is simple to use for you and your employees.