Not so long ago, mobile payments were considered as another sales channel, as the online market was considered as another one to capture. Unfortunately, due to the current situation due to the COVID-19 several retailers and other businesses had to shut their doors temporarily. The sales went to zero and then, when reopening, there is a struggle to recapture the market.
Mobile payments market
With many areas having to follow the government directive to stay-at-home, those businesses were not categorized as “essential” had to keep their shops shut for many weeks. As these businesses doors reopen, trying to recover during these uncertain times, there is a need to capture the share of the mobile payments market to drive the sales up.
Mobile payments and online payments were typically seen as a sales channel that required to be consulted about for a business to be able to be ready for the future. It was not the primary source of sales for a multitude of retailers who might have created mobile apps with the objective of increasing foot traffic to their shop. However, increasing foot traffic is no longer the main objective to drive up sales, as there are still those who do not want to go to physical stores.
Mobile phones are no longer just devices for communication indeed, as these do now work as the alternative to physical wallets. To be able to tap the mobile payments market, a business can also use it to provide communication with its clients that do need advice on how to buy online. Phone sales are rather difficult yet providing customer support and service by being reachable does not shut out the consumers who are new to making mobile payments.
There are some retailers who offer phone payments with the use of credit or debit cards. It can be a secure payment system if the payment option is sent to the client via email. The information about the order may be called in, but it still will become an online payment after all. However, this sales method brings about an affinity with clients who do prefer to talk to someone when ordering. The use of the cell phone in the traditional manner for communication can aid in making sales when face-to-face sales talk can not be done. To be able to talk to a person might be able to encourage them to order and increase their order using the open lines of communication.
Online payment methods
There are payment solutions for a retailer that does not yet have online payment methods. They can choose a payment provider that may fill their requirements. Mobile payments make it possible to accept payments without having to spend a lot of money by investing in payment terminals. Retailers can choose the payment methods that make the user experience much better so that they will be encouraged to shop using their mobile device. Mobile payments are no longer the other payment method option that must be tapped in the future as the future is here, today.