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May 17, 2022

Harbortouch Discusses Misconceptions About Mobile Payments

Harbortouch Discusses Misconceptions About Mobile Payments

Many misconceptions about the mobile payment industry exist according to Harbortouch, an industry leader point-of-sale provider.

Swiping a credit or debit card has never been a more popular way to pay for food, goods, and services advises point-of-sale solutions provider Harbortouch.

Cash is no longer king and few consumers carry a checkbook. In fact, many people no longer possess checks at all. Eventually, anchored payment terminals could go the way of paper with the bulk of consumers opting to make mobile payments using their phones, Harbortouch said.

Harbortouch believes that despite the growth in the mobile payment sector, several misconceptions about accepting mobile payments persist in the hospitality and retail industries.

To stay current and provide the services customers want, Harbortouch advises stores and restaurants to move past misinformation and explore how to incorporate mobile payments as soon as possible. The most misunderstood issues in the phone payment sphere include concerns about data security, inconvenience, and coordination with existing payment systems.

Harbortouch says mobile payments can be made as secure as card swipes at a fixed terminal and getting started is easier than most retail clients realize.

Mobile payments can be extremely easy to set up without investing in expensive equipment. Through the use of smartphone card swipe readers provided through payment-processing providers like Paypal, CapitalOne, or Chase, businesses can easily accept payments at trade shows, at a diner’s table, or on the floor at a craft fair without an upfront investment. Instead, fees are assessed on each transaction.

Per Harbortouch, setup is often minimal and interfaces are intuitive to help customers and employees avoid confusion during the payment process.

Harbortouch suggests these tips as an excellent introduction to mobile payments, but more robust retailers and restaurants may prefer to invest in readers that tie into existing POS solutions. POS providers also often offer mobile units as part of a package deal. These easily integrate with the existing system and can include added services, such as card payment via Bluetooth.

Payment security is a key concern for both small and large businesses, Harbortouch advises. Equipment and apps provided by payment processors feature built-in security. By using best practices, such as not connecting to public Wi-Fi and using VPN services, businesses can enhance security on their end.

Mobile payment options integrated with a physical POS system also include built-in security as data is not stored in the devices. Instead, it is transmitted digitally through the payment gateway. This prevents the loss of customer data if a visitor walks away with a mobile terminal or it is stolen in an organized theft.

By choosing a reliable payment gateway and a merchant account provider following Payment Card Industry standards, businesses can further enhance customer security from the table/counter to the end of the transaction.  

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