How to Use Technology to Streamline Payment Methods

Getting paid is an essential part of any successful business. Payment methods have changed significantly and continue to do so as technology improves and advances. By taking advantage of the technology you have available to you, you can streamline payment and make sure that you are being compensated for the great work you do and the products you provide.

Contactless Pay

Contactless payment was already gaining steam before the pandemic, but now it is even more prevalent and necessary than ever before. There are a variety of contactless payment methods that you can implement, for example, tap and go and various mobile wallets like Apple Pay. Making these options available to your customers will help you to make the payment process simpler and quicker for you and your patrons. By starting with even just one or two different contactless options and growing as you are able, you can streamline your processes and decrease the time that customers spend in line.

Source: https://www.flexpaymentsolutions.com/blog/the-benefits-of-contactless-payments/  

SMS Messaging

Using SMS messaging for payment methods can be a great way to make payments convenient for your customers. Sending an SMS with billing can get the info to your customer quickly and give them an easy way to make payments that they are less likely to forget about. Implementing SMS payments is easy to do without violating TCPA regulations. Payment options over text message can generally improve the likelihood of your customers paying on time and will help you to get a more streamlined bill pay process for your business.

Source: https://www.podium.com/article/tcpa-compliance/ 

Improve User Experience

Using technology for payments will help your business significantly, but if your user experience is difficult or frustrating, it won’t pay off as well as it should. You want to provide simplicity and security for your online payment methods, so your customers don’t feel stressed and aren’t turned off by your payment processes. Making sure to make guest check out simple but providing options for account set up can help you to reach a wider audience. Be conscientious that all alerts and communications are friendly and informative. By taking these steps, you can make the payment process simple and straightforward for customers. This improves the likelihood of making a sale.

Source: https://blog.prototypr.io/how-to-design-a-user-centered-online-checkout-experience-b7dd1ea62e1a  

Improving your payment methods with available technology is good for you and your business and can help you to be even more successful. Use these technology options and strategies to streamline your payment processes in-store and online.

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