Mobile payments in retail: why should you switch?

Do mobile payments fit your stores? And how can you approach this smartly? In this article, we share some interesting insights from practice and show how you can take the next step with the right retail technology.

Faster check-out & shorter queues
No one likes long lines at the till. With mobile payment solutions, you can assist customers more quickly and at the right moment. This has a direct impact on the shopping experience.

More flexibility on the shop floor
A mobile point-of-sale system means your staff can help customers anywhere: in fitting rooms, on the shop floor, or even outside the store. In other words, you have complete store management in your pocket.

Better shopping experience & increased customer loyalty
Customers expect fast, easy payment methods. By offering mobile payments, you cater to their needs and increase the likelihood that they will return.

Integration with loyalty programs & marketing campaigns
Digital payment solutions can be linked to customer cards, discounts, and personalised promotions. This fosters additional customer engagement.

At Anchr, we saw the potential of mobile payments early on. In 2019, we collaborated with CM.com to introduce mobile payment solutions in retail. At that time, the market wasn’t completely ready – consumers and retailers were still accustomed to traditional payment methods. But now, with the rise of contactless payments and mobile POS, the time is right. Retailers who make the switch now will benefit from technology that has finally arrived at the right moment.
Source: https://www.betaalvereniging.nl/actueel/feiten-cijfers/feiten-toonbank/

Mobile payments, keep this in mind

Although mobile payments offer many advantages, there are a few things you should consider:

Security & fraud, ensure a PCI-compliant payment solution.

Costs, some providers charge transaction fees or monthly subscriptions. Compare different providers before making a choice.

User acceptance, not every customer is accustomed to mobile payments yet. Continue offering traditional payment options as well.

Choose the right mobile POS solution
Analyse your retail process and discover where your customers and you face challenges. Then choose a system that fits your store. Popular providers include Adyen, Pay, CCV, Mollie, CM.com, Worldline.

Train your staff and inform customers
Ensure that your team knows how to process mobile payments and guide customers. Make mobile payments accessible, literally make them easy for your customers to use, and integrate them as a core part of your shopping experience.

Do you want to future-proof your shop? Then now is the time to invest in mobile POS solutions and digital payment technologies.

Integrate with other retail technologies
Link your mobile POS with your inventory management, CRM, and marketing tools for a seamless experience.  
For example: A customer in a DIY store wants to buy a bucket of paint and a few brushes. The staff member advises the customer and can scan the products on the spot and process the payment. With the right integrations, the purchase is instantly processed in the system, the inventory is updated, the customer receives the receipt digitally, and can walk out of the store. An absolute win-win of mobile payments.

This was the first article in a series of blogs about mobile payment solutions for retail. Want to know more about smart retail payments?