www.witinall.com
Your German language service
  • Home
  • About
  • Contact
  • Terms
  • AGB
  • Blog
  • Shop
  • Languages
  • Site Privacy Policy
  • Ask the Experts

Have your say...

No nasty comments, please!

email

Mobile Payments

4/11/2018

2 Comments

 
Mobile Payments - Top 5 Reasons Why You Need Them in Your Business
by Samuel Gitukui

People use mobile phones more than any other device. Whether it’s browsing for the next purchase or actually completing an order, plenty of transactions are taking place through regular smartphones. In fact, there is a trend where transactions are steadily flowing away from the traditional exchange of coins and notes.

There are plenty of mobile apps that have come up to facilitate these types of transactions. A great example is Apple Pay which shows no sign of slowing down. Other examples include PayPal and Stripe. That right there, is why you need to include mobile payment options for your business. Your customers will find it easy to place an order and send you the payments.

Here are more top reasons to include mobile payments to your business.

1.     Efficient and Convenient

When making transactions through mobile, customers do not have to wait in a line to purchase something. All they are required to do is quickly make a purchase on their mobile devices.

The need to carry credit cards or physical money is eliminated. Societies could benefit from cashless transactions. In fact, Sweden aims to achieve this by the year 2021.

2.     It Is Safer

Whether it’s the customer or the business, mobile payments are perhaps the safest option. Indeed, mobile payment companies do find the need to improve the security features. After all there are hackers out and about. However, compared to carrying credit cards or physical money, mobile payments are in a league of their own.

Take for example Apple pay. When you download the app and fill in your credit card details, the credit card number is replaced with a token. The token in turn has a password and a card ID. This makes hacking next to impossible.

3.     Earn More

A recent study has shown that people tend to make more purchases online than they would when buying physically. Adding mobile payments to your business exposes you to many more opportunities.

Businesses that adopt this new and modern way of doing things stand the chance of getting loyal customers. It is also a great way to stay updated and ahead of the game. If your business is among the first to adopt new, more efficient technology, you will obviously have an edge over your competitors.

4.     It Is Easy to Maintain Accounts

Mobile payments come with automatic recording of every transaction. This makes book keeping a lot easier. Your accounts will also be accurate since you will not miss any details.

Compare this to manual book keeping where a backlog might mean that some information is skipped. Your business may end up paying the wrong tax and get penalized for it.

Some mobile payments feature accounting apps that allow you to record transactions and generate reports such as balance sheets and cashflow statements.

5.     Improved Business and Customer Experience

Look at it this way. Mobile payments are easy, efficient and convenient to use. Transactions are quick and it provides your customers with the chance to make purchases at any time.

This is an enhanced way of making transactions and most customers welcome it with open arms. As you are doing business would you not like to enjoy the experience?
Picture
2 Comments
review of superiorpapers.com link
6/15/2018 05:27:36 pm

I used to be very afraid of online and mobile transactions. I have worked as a billing officer before and I have seen how my colleagues use other people’s bank information to make some purchases. It was very easy then. I am not sure about today. I heard it is more secure now but until I experience myself how secure they can claim this to be. I will still be afraid of making these transactions online. I am not allowing any computer to steal even a few cents from my bank account. They say one dollar won’t hurt. But if these people steal from more than a million people, they must be making a lot of money and I am not going to tolerate this.

Reply
Alexandra link
6/16/2018 03:02:58 am

Hi and thank you for your comment!

You don’t mention your name. Good. It means that you are aware of the dangers lurking in cyberspace and mobile communications. And even if you gave me a fictitious one, I probably wouldn’t know because I don’t have the power to make the relevant checks.

Which brings us to the main topic of your comment. Who has access to your data? Are they really secure? As you mention, security has improved and will continue to do so in response to new kinds of threats, and yet we still get this niggling feeling of powerlessness when it comes to looking after our money, don’t we? All I can say on the topic – not being a security expert – is that it is best to try to keep track of your transactions at all times or as far as possible. That way you should be able to root out the source of any wrongdoings, be it the wayward bank employee, your payment provider or some unidentifiable internet criminal who siphons off your hard-earned cash.

Most transactions backed up by an AES-256 encryption should be safe at the moment. Until quantum computers come along, that is. Because once the criminal fraternity gets hold of one of those … well, it’s goodbye private data. Although, by then we may all be using the block chain and reverting to radio waves, who knows.

What gets me worried far more than the danger of someone accessing my bank account is something I do every day. Paying (using cash) for all kinds of products such as groceries, clothes, you name it. How can I even possibly try to assess the extent to which I am being cheated? Who is taking my money and for what? Where do I start my information-gathering trail? What about tax fraud? Doesn’t it rob me of my share of the community’s wealth? I guess the answer to all those questions has to be that my whole life at the moment is based on that most valuable of commodities an economy operates with -- the emotion of trust. And you know the dictum: ‘Trust is good, control is better.’

To get my mind off these real-world issues, my summer reading this year will include ‘The Strange Death of Fiona Griffiths’ by Harry Bingham, a crime novel apparently about tax evasion and featuring a very unconventional detective. If you are a gaming fan, you might like the new Stephen Spielberg movie ‘Ready Player One’ featuring an apocalyptic scenario and a flashback to the eighties.

Whatever you are planning: have fun! And if you want to hire me and have qualms about doing so using the online payment facility, why not contact me to arrange easy payment by direct bank transfer?

Sincerely,
Alexandra

Reply



Leave a Reply.

    Authors

    Alexandra
    Matthieu
    ​Sarah
    ​Samuel
    ​Summer
    ​Mike

    Archives

    January 2023
    November 2022
    September 2022
    August 2022
    July 2022
    May 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    August 2021
    July 2021
    June 2021
    April 2021
    March 2021
    February 2021
    January 2021
    November 2020
    October 2020
    September 2020
    August 2020
    June 2020
    April 2020
    March 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    January 2018
    August 2017
    March 2017
    February 2017
    October 2016
    May 2016
    April 2016
    February 2016
    January 2016
    December 2015
    December 2014
    September 2014
    February 2014
    January 2014
    September 2013

    Categories

    All

    RSS Feed

    Link to Delicious
    English Dictionary;
Proudly powered by Weebly