Three years of pandemic living have changed many customer habits, sparking an increase in demand for mobile payment options.
The need for contactless payment methods has never been higher, and merchants have been fast to take action. Customers are becoming more familiar with this style of payment which leads us to the question, is it here to stay?
What Are Mobile Payments?
Instead of using cash, card, or check, mobile payments allow customers to make in-store purchases from their mobile devices. This is possible through a technology called NFC (near-field communication), which creates frequencies that enable mobile devices to connect with payment terminals.
All you need is an app on your phone that supports NFC payments, and then you can make purchases wherever there are compatible terminals. A single tap of your device can pay for your groceries and send you on your way.
Are Mobile Payments Here to Stay?
Many people believe mobile payments are just a fad sparked by COVID-19, but it holds more potential than they realize.
With cryptocurrency and mobile wallets on the rise, it could create a permanent demand for mobile payment technology within stores around the world. Merchants are not only noticing the benefits of mobile payments for their customers but also for themselves.
Fast Payments
Mobile payments are one of the fastest transactions in today’s market, with processing times of around one second. Merchants can appreciate quick transactions because it keeps customers moving and reduces line build-up. Providing customers with fast and easy checkouts improves their overall experience and builds a better reputation for merchants.
Convenience
Not everyone carries cash on them these days. Cash is extremely inconvenient and a hassle to lug around in a bulky wallet. Being able to pay with a tap of your phone can eliminate struggles with cash and cards altogether.
Why carry a wallet when your phone can do the job?
If there’s one thing customers love, it’s simplicity. Mobile payments are extremely easy for all users to learn and understand. As people use this method more and more, they likely will prefer it over other methods. The future for mobile payments is bright.
Mobile Payments for Your Business
Celero can provide you with mobile payment solutions to suit the needs of your business. Choose from a variety of terminals that can accept any EMV or NFC mobile payment. Mobile payments are an extremely secure solution to keep you and your customers safe.
Ready to provide your customers with contactless transactions? Contact us today to get started.