A business cannot make too, because the customer does not have enough cash with you, is an annoying situation for each merchant or service. Similarly frustrating as the long wait for incoming payments after invoicing. One possible alternative is offered by modern mobile payment solutions.
Mobile Payment - i.e. paying the involvement of a mobile terminal - opened entrepreneurs new ways to meet customer service-oriented different payment options to offer and thus to obtain money quickly and safely. Solutions with mobile card readers on the dealer's own smartphone or tablet while offering an interesting alternative to solutions for Near Field Communication (NFC). These allow wireless paying smartphone to smartphone, but could not prevail so far in the market.
The motto "only is Bares truth" is in times of popular plastic money only limited validity, since most people wear less and less cash. According to a recent study by the Scientific Institute of trade (EHI study) is the cash share of the retail trade dropped to 55.6 %, while credit cards continue to grow - 2012 a total of 159 billion euros.
Following this development, even small merchants and service providers must be able to handle card payments quickly and easily. Stationary card terminals - as they can be found for example in department stores, or restaurants - but have the disadvantage of small businesses that they attract both high temporal and financial costs of acquisition, as well as monthly fees to be.
Thus, the small business has to deal with and to complete some multi-year contracts with the various financial services, for example, with its bank and individually with the various credit card companies. The cost for the terminal comes on top of that add a monthly, often double-digit fee.
Much more practical and less expensive than stationary terminals are for small traders and service providers therefore mobile payment systems. These can be used independently from its own site anywhere - in every corner of a retail store or directly at the customer site. These include both NFC solutions and mobile card readers.
Mobile payment solutions for small businesses as compared
NFC technology enables the wireless exchange of payment information between devices over short distances, but has on the market so far only a very small cover. In order for the data exchange works, the customer needs a mobile phone with NFC chip and an NFC-enabled SIM card. The NFC chips are now integrated into most new smartphones or otherwise simply glued a sticker. Dealers require a reader or an NFC-enabled payment terminal.
To pay the customer keeps his phone then just close enough to the terminal. This automatically activates the data exchange and thus the payment. In practice, however, several hurdles need to be overcome for this method of payment: The customer needs not only for each party or each business its own app, he must feed them with his bank account details or credit card details, but must at the various services also once register.
In addition, the user must also enter their PIN on amounts above 25 euros. With the necessary PIN entry but lost the advantage of rapid payment and customers might as well pay by debit card at the familiar terminal.
In contrast, the customer has when using mobile card reader systems do not become active, but can as usual to pay by card. Of these solutions, small enterprises can currently benefit most.
The mobile terminal is here not the customer, but the seller or service provider to use: The seller places a verified user account and connects his terminal to the mobile card reader. After the application of the provider is started, the auction can begin: the credit or debit card the customer is simply pulled through the reader, the customer authenticates the transaction by signing on the screen of your smartphone or tablet - done! This solution is thus offer etc. especially for mobile service providers and offers, as taxis, artisans, hairdressers, market traders, fair seller, and an ideal alternative.
Mobile card reader systems: benefits on the customer side
In consumer-side, these solutions score with its simple usability. The customer does not need to be active, for him, nothing changes. He pays through the mobile card reader like any other terminal simply by card. In addition, the solutions are contrary to the desire of customers to use a secure settlement procedures.
According to a study conducted by the KPMG study of 1,000 participants in the Internet population aged 16 and over the ignorance of individual payment method is closely linked to a large uncertainty both about the data, as well as about payment security. The opinion of 88 % of respondents, these two criteria are prerequisites to use mobile payment in the future.
ePayment with Lexware pay and Wirecard
With Lexware pay Lexware example, has a solution in the portfolio, which provides just that. The well-known business software vendor has developed the solution in collaboration with the ePayment for-tested financial service Wirecard. The solution enables customers as usual to use their debit card through their own bank for payment processing, which, according to a calculation of the Research Center for Financial Services Steinbeis University Berlin (Mobile Payment - where the journey goes) over 80 % of consumers prefer.
Low cost, fast payment processing: pluses for traders
The possibility of using the smartphone or tablet as a terminal, meets with trade and other points of acceptance, according to the Steinbeis study with a 65 % popularity with great interest. Besides giving here reach 59 % of respondents rate fast payment processing as very important, 41 % as important. With mobile card readers, payment is no longer at the expense, but mobile, quickly and safely.
In B2C payment transactions the dealer or service provider can even fully dispense with the invoicing in the B2B sector billed decoupled from the receipt of payment. This means that the money is in stock, reminders accounts and liquidity will improve.
In addition to the speed and mobility when compared to traditional terminals significantly lower costs are a big advantage for retailers: minimum turnover, there is not a rule, and the transaction fees usually range between one and three %. Also, the one-time cost of the card reader with prices averaging 20 to 100 euros are manageable (depending on the payment method).
Applications such as Lexware pay offer furthermore a lot more features and comfort. So about items and prices can easily collect, use individual tax rate selection and tip function and send payment confirmations via e-mail, provided that the customer announces his email address. Moreover, it allows the app to cancel payments or to refund. Statistical tools and a payment summary are also included.
Conclusion
In conclusion indisputable that more and more payments are handled without cash - calculated as the EHI 2012 there were already more than 40 %. A payment method that is easy to operate with mobile payment solutions for small businesses well. A good alternative to NFC solutions that lie in the market is still in its infancy - so far hardly appropriate collection points are available in stores -. Represent mobile card reading systems like Lexware pay particular for small businesses guarantee this a fast, simple and secure payment. Missing line rentals and low cost are two further advantages, why retailers and service providers currently can benefit the most from these solutions.
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