Monday, March 19th, 2018
The mobile payment devices market is evolving with rapid advances. Such growth enables both small and mid-sized businesses to take cashless payments securely and conveniently. Are you interested online payment processing? How can you get the best merchant account rates? Just read this article and you’ll know.
Mobile Payments Are on the Rise
The world is going mobile. So, it’s no wonder that mobile payments are on the rise all over the world. The ability to process payment transactions via mobile devices is getting easier all the time. European card payments or cashless transactions aren’t an exception: they’re growing and have been for some time.
The retail point-of-sale (POS) terminal market is a growing business. Consumers are more and more often making cashless payments for everyday transactions. SMBs use hardware and software integrated POS to be able to accept payments in a face-to-face environment.
Some merchants are adapting to the modern payments market by adopting new ways to accept payments. These can be through smartphones, tablets, or a more traditional point-of-sale (POS) systems featuring some high-tech solutions.
What’s the benefit of a mobile system for card payments? Well, it allows the internet to process a transaction via the mobile’s network provider. Also, enables merchants to make a transaction from anywhere, both within or away from the storefront.
Mobile Payments in the UK
Until recently, mobile payments accepted by UK businesses have been rather limited. Today, apps developed for mobile banking and mobile payments are gaining more popularity in the country, as payments system firm VocaLink notes.
The greatest attraction mobile payments offer to UK smartphone users has to do with convenience. Also, consumers use mobile payments as a backup for payment cards and cash. Moreover, they consider mobile payments quick and easy.
Electronic funds transfer at point of sale (EFTPOS) machines became enough popular in restaurants and bars in the UK. The reason was that it allowed customers to conveniently pay right from their table. However, even these machines didn’t offer full mobility.
Businesses across the country have been looking forward to a fully mobile card payment system — a mobile point of sale (mPOS) system, to process transactions anytime, anywhere. Today, though UK companies don’t process payments entirely via mobile, many businesses are rapidly embracing this type of payment technology. This because it offers excellent flexibility.
Now, customers in the UK have more payment options to use. They can no more wait longer times in queues where a mPOS is present.
With all this in mind, it’s too important to be able to process payments online. All you need is to turn to a payments expert like Best Payment Providers in the UK to get the best deal for your business. With Best Payment Providers, a reputable comparison company, you can enjoy the best merchant account rates in the industry.
Best Payment Providers offers free consultation and reviews contracts, rates, and fees. Moreover, since integration requirements are as much important as fees and customer service, Best Payment Providers checks every single provider’s integration process to make sure you enjoy a smooth transition and onboarding process.
Today, UK consumers are choosing contactless methods of paying for goods/services more and more often. Many of them are familiar with the chip in their card. It’s read by most EFTPOS terminals before a transaction is made and guarantees extra security, thanks to its card data encryption.
So, if you’re a merchant, you can’t do without online payment processing, including mobile payment processing. Just find the right processor and start growing your business.