Does Your Business Need To Accept Mobile Payments?
Short answer, YES, as for the explanation, let’s see…
Customers want to complete checkout quickly without any hassle, digital payments enable convenient, easy, and fast transactions.
And thanks to mobile penetration, and network availability, now your business can also offer a frictionless AND contactless payment experience for your customers.
Accepting mobile payments can greatly improve business efficiency and can easily streamline sales. Mobile payments are more convenient for your customers and less expensive for your business.
It generally required a dedicated application or thanks to new innovations, now you can also generate and accept payments via the most widely used messaging platforms or social media channels.
Mobile payments give an omnichannel experience that combines shopping and payment in one from anywhere at any time.
For a physical shop, merchants can simply scan customers’ cards or share QR codes to manage transaction processing and in the case of virtual shops, merchants can share a payment link or QR code.
Mobile payments reduce the need of installing bulky payment infrastructure and its complex handling. Merchants can focus on increasing sales without worrying about transaction management and processing.
It gives your business a most required competitive edge by increasing customer engagement at the same time offering them a seamless and secure payment option.
Mobile payments provide necessary security and anti-fraud measures to assist customers and merchants.
They are easy to understand and easy to use for customers and on top of it, they are extremely flexible and easy to integrate with business models.
Types of mobile payments:
There are various ways to accept mobile payments. They can be done via web browser by entering payment information into the shop website on the mobile phone.
As mobile devices have web browser applications, customers can easily browse through the store website and proceed with checkout in the same browser (if the webshop offers online payments).
Another way to accept mobile payments is through mobile applications. Instead of payment done through the web browser, this method uses a dedicated mobile application to accept mobile payments from customers.
Many businesses have their own shopping application and they can easily integrate the payment add-on with the app or they can use third-party applications or mobile wallets to accept payments.
Many physical shops use mobile POS systems to accept payments. This system not only accepts online payments but also performs other tasks done by the bulky physical POS system.
As mentioned above there are also a few more contactless ways to accept mobile payments like NFC or QR payments.
Lyra EPOS allows merchants to carry quick, on-the-spot secure payment acceptance via mobile device.
This dedicated mobile application caters to the need for omnichannel payments and eliminates the need for physical POS machines.
Merchant just has to create the payment order share it via QR code or payment link and accept payment from customers.
This payment link can be shared via any messaging or social media application and the customer can make an online payment just by clicking on the link and entering the required payment information.
EPOS application has a user-friendly interface and it can be downloaded directly from the play store. It is backed by Lyra Payment Gateway, one of India’s most secure payment gateway and the application is 3D secured and is in compliance with card schemes and PCI DSS standards.
Lyra’s EPOS can be used for any and every type of business from retail, to restaurants, from spas to social media businesses, and for any type of utility bill payments.
If you don’t want to invest in a dedicated application, you can opt for Lyra’s innovative WhatsApp Payment Acceptance Solution.
Lyra WhatsApp Payment Acceptance Solution:
WhatsApp is the world’s renowned instant messaging application.
The app is an ideal choice for peer-to-peer communication in India and nowadays a famous marketing channel.
Nearly every business has an official WhatsApp account that can be used for marketing purposes. Many businesses also showcase their products via WhatsApp and it is a great way to establish customer engagement. So, accepting online payment via WhatsApp is like a cherry on the top!
Lyra offers innovative and simple to use payment acceptance solutions using WhatsApp. With the direct partnership for payments with WhatsApp, the main objective is to provide a seamless and simple-to-use solution.
This feature reduces the time taken to complete the end-to-end process for both merchants and customers and offers a customized payment experience.
With the minimum required information, merchants can generate the payment order and share it via WhatsApp.
Customers don’t require to share unnecessary information to complete the transaction. There is no need to share IFSC code or other personal or financial information.
Customers can choose any payment method as the feature offers multiple payment methods and proceed with the payment.
There is no need to install or use any third-party application making the payment more secure. The feature is also PCI DSS compliant and follows the government’s digital payment security protocols.
Merchants can send customized payment messages and bulk payment orders. Lyra also provides fraud detection, and chargeback handling along with the dashboard with transaction overview and day-to-day auto-generated reports.
So, do you want to accept mobile payments for your business?