We’re deep into summer, and many companies are enjoying a nice summer bump in sales and customers. With the weather so pleasant, plenty of consumers are browsing and shopping in large numbers, and it’s great news for businesses of all stripes.

But now is also a great time to consider your next step in payments—after all, the holiday shopping season may feel far way, but it comes fast. You should always be thinking about how to expand, and there’s a few straightforward ways to grow your business through payments.

1. Get faster.
There’s no doubt about it—customers hate waiting, whether it’s for a product or for a payment. When customers walk into a retailer and see a line, they may walk out right away. Even if they wait, there’s a huge impact on customer satisfaction. There’s a reason major retailers encourage backup register employees to rush up front even at the sight of a small line.

Luckily, there’s ways that payments can help you get faster. The place to start, of course, is obviously with the transaction. EMV had its growing pains, but if you’re still having trouble with EMV, customers are no longer willing to tolerate the issues. And beyond that, you should be ready to accept any payment method a customer pulls out—you don’t want to have people waiting just because a customer asked

But remember that faster payments has a domino effect, and frees up employees to do the rest of their job more efficiently, too. Mobile payment solutions can allow employees to walk through the aisles and checkout customers in a snap. Pay-at-the-table eliminates several steps from the checkout process and frees up waiters to focus on the rest of their responsibilities.

2. Get bigger.
Of course, payments can’t grow your business—that’s something you focus on. But payments can grow alongside you, and make the process simple.

The first way, of course, is to connect your different locations, whether you’re opening up new brick-and-mortar stores or expanding into the e-commerce realm. Your payments need to work together, and your tracking needs to be simple across multiple channels. Not only that, today’s customers want to be able to work across channels, so you need payments that will accommodate them, whether that means pay online/pick-up in store or any other combination of options.

But there are ways that you can grow that go beyond how you accept payments. Simple interfaces, for instance, allow you to bring new employees on board quickly. Better customer support means that you can focus on your core business. Good payments scale with you—and easy payments mean you can focus on what really matters as you grow.

3. Go deeper.
Even if you’re not expanding your footprint, you can still use payments to increase your customer base. Payment features like loyalty can do a great deal to increase customer retention, and with the many new loyalty features that mobile wallet companies are exploring, companies need to be ready to grow through payments.

Gift cards, too, can help you to expand your customer base. Not only does a gift card act as an endorsement anytime someone receives one, most customers will return multiple times to spend the balance. That gives you multiple chances to create a new return customer.

 

Payments is about more than just transactions—the best payments will improve your business, increase customer satisfaction, and create return customers. As technology continues to grow, there will only be more you can do with payments.

​​3 Ways to Expand Your Payment Possibilities