Mobile technology is altering the way consumers pay for products and services, and businesses that aren’t mobile optimized will lose out to providers who are. Instead of paying with cash or cards, mobile platforms let customers pay with a smartphone at near-field communication (NFC) terminals.
For customers, mobile payment solutions are a very handy way to pay. Instead of fumbling for cash, writing a check or pulling out debit or credit cards they just have to hold their phone over a merchant terminal.
Mobile payment technology is also good for businesses. There’s no need to purchase expensive point of sale equipment, loyalty programs can be integrated into mobile applications and payments can be in your account in less than three business days, improving your cash flow.
Getting started with any new technology may seem like a daunting task. But the experts at Primo Payments make everything easy for you with a suite of user-friendly and innovative mobile payment solutions. We are experts in mobile payment technologies and keep up to date with the latest industry developments and trends.
How Mobile Payments Work
A customer holds their smartphone close to an NFC-enabled payment terminal without touching it. Near field communication is what enables two devices to communicate wirelessly when they’re within a few centimeters of each other. The reader and the phone pass dynamically encrypted information between each other to complete the payment – and it only takes a few seconds! Really, that’s all there is to it.
At Primo Payments our mobile payment solutions include but are not limited to: