In this highly digital generation, almost everything is evolving to more innovative versions. In businesses, dealing with payments will eventually all shift from tangible paper money bills to credit cards and even e-wallets using smart phones. Speaking of the latter, we have earlier been introduced and familiarized to the wonders of PayPal. Now, Google has launched a relatively similar payment service called the Google Wallet that competes with PayPal—and more. In this article, we will talk about the top reasons why you should enroll to Google Wallet as early as now and how this mobile commerce application and service can benefit your business.
What is the Google Wallet?
Bringing together the comfort of both online and offline shopping to your reach, Google Wallet is basically a free Android application that cloaks as a wallet in your phone. To pay out items to the cashier, you simply need to tap your finger on the screen of your smart phone and open this virtual wallet. The store payment information is revealed by the embedded chip in your phone that utilizes NFC technology. This is a secured way of communicating your device to the terminal.
Top 5 Reasons Why You Should Trade With Google Wallet
1. Serve Your Customers Better:Customers are happy when they are offered a lot of choices. These choices do not span only for items they can buy from your store. Rather, these also include the modes of payment. For instance, if you do not accept credit cards, then what if your customer does not have enough cash to pay? You lose the customer and therefore lose the sale. Usage of cash cards are so rampant nowadays that people don’t stock up loads of cash in their wallets. Sooner or later, paper bills will really be obsolete like the dinosaurs. To serve your customer better, extend the Google Wallet as one of your payment terms. They will be glad not to fumble for cards, cash and coupons anymore. More conveniently, they can just pay with their phones.
2. Everything Will Be Digital:Fearless forecasts expound that in the future, people will not carry tangible wallets anymore. From paying out for taxi fare, groceries, and other stuff in the market, systems will be synchronized and everything will be digital. Processing of transactions will become faster, and lesser errors will be encountered. Before even going to this era, have Google Wallet as your competitive advantage. Use it to underscore that you’re one of the pioneers who has implemented this on your business. When you have this recognition, people will be more driven to visit your store.
3. Social Promotion:Since smart phones are used for the Google wallet, you can make an app that instantly posts hash tags or Facebook status to your consumer’s accounts when they transact with your business.
4. Build Loyalty Among Customers:Google Wallet provides customers with the comfort of storing their loyalty cards on their phones. So if you are a merchant, you can partner with Google to increase your level of engagement with your customers by building loyalty programs and fusing them with Google Wallet. If you agree to this partnership, your business will be featured with Google’s “Where It Works” map. That’s a plus for your marketing effort!
5. Safety and Convenience
Using Google Wallet is a safer and more secure way for your customers to pay for their purchases than using the typical debit and credit cards. Why? Aside from the fact that this has no paper trail for robbers to follow, cash cannot be stolen from their physical wallets. Also, thieves won’t have the chance to steal credit card numbers and ATM skimmers can’t track debit card info. With the Google Wallet, customers can be rest assured that they are the only ones who can access their funds. Google encrypts payment details, protecting everyone against theft and fraud.
Conclusion As there’s expanding innovations related to payment options, news on the mobile payments space has piled on lately. The intensification of the focus towards mobile payment services is in the spotlight much in the same manner that credit cards have done over the last two decades. By year 2017, payment transactions done through mobile phones are expected to reach up to $1.3 trillion. Accompanying this, on the other hand, are issues which revolve around security measures and systems. These will be solved eventually and so are street crimes such as assaults for cash and cards.