3 Ways Accepting Mobile Payments Can Make a Big Impact on Black Friday

The biggest shopping holiday of the year is right around the corner, which means it’s time for businesses to start strategizing in order to make the most out of special offers. Black Friday is the perfect opportunity for businesses to boost sales and bring in new customers by offering doorbuster deals. Having a solid sale and marketing strategy in place is a given, but businesses looking to make a big impact on Black Friday should also consider accepting mobile payments.
Here are three ways mobile payments can benefit businesses and improve the customer experience on Black Friday:

1. Tame long lines with faster checkout.

Black Friday promises big savings for customers, but it also brings long lines and crowded quarters. Get customers in and out by accepting mobile payments. It’s a sure-fire strategy for speeding up the checkout process and keeping lines moving as quickly as possible. No one enjoys waiting in a long line — that’s why accepting mobile payments is the perfect way to improve the customer experience during the busiest shopping day of the year.

2. Incentivize spending and build brand loyalty.

Mobile payments are a great tool for incentivizing increased spending. While there isn’t much research on the subject yet, experts believe mobile payments, like credit cards, could increase spending between 12 to 18 percent.
Additionally, platforms like Apple Pay and Android Pay sync with in-store loyalty programs, which means customers are more likely to see special deals and increase spending. Rewards programs are also integral for building brand loyalty. Promoting loyalty programs through mobile payment platforms is a great way to convert Black Friday customers into regular patrons.

3. Track customer trends and inventory.

Point of sale terminals can collect more valuable data from mobile payments than a credit card or cash transaction. That means you’ll be able to learn more about your customers and what they’re purchasing. Tracking trends and inventory more closely with mobile payments can help you tailor marketing campaigns and special offers. Keeping a close eye on customer data can be particularly beneficial during Black Friday and other major shopping events because it allows you to measure the success of specific promotions.
How have mobile payments impacted your business? Leave us a comment and let us know!
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