Should You Accept Mobile Payments?

Should You Accept Mobile Payments?

As a small business, you're probably doing everything you possibly can to stay competitive. After all, in the US alone over 600,000 new businesses open up each year. That number is pretty staggering. So what can you do to stay ahead of the pack, stand out and draw in the most customers possible? One thing you most definitely need to consider is mobile payments. We live in an era in which more people utilize their smartphones for, well, everything, to include paying invoices. If you're not accepting mobile payments, you are probably making it very frustrating for some of your clients, especially those whose fast-paced lives demand ease and convenience.

Need more convincing? Below are three of the top reasons why you should be accepting mobile payments now!

  1. By accepting mobile payments, you get paid faster. This is true. One of the common complaints of business owners is slow repayment for products and/or services. The hassle of preparing and mailing a check is eliminated and clients instead just have to click a few buttons on their cell. Payment is immediate.

  2. You also increase sales. Some people will flat out refuse to buy from a company who doesn't take mobile payments. Over 80% of people now use credit cards for most purchases. Integrating mobile payments thus allows them the convenience of utilizing their card and doing so quickly.

  3. Cut down on billing time and therefore save money. Far less time will be sent tracking invoices, processing payments and in the end, you're spending less money as the task has been completely automated.

First Union has assisted a number of businesses when it comes to automating their operations and day-to-day billing processes. We could certainly help you get the funds needed to update technology, software, essentially anything you might need to make life easier for you and your customers. Our streamlined application and approval process could mean money in as little as 48 hours. Call today to see how we can help!

Becky: Hi! Let's find the best loan option for you