Many businesses have reported a drop in cash transactions as a result of the epidemic, which has expedited the shift towards cashless payments. A Pew Research Centre survey found that in 2022, up from 29% in 2018, 41% of Americans claimed they did not use cash for their transactions during a normal week. Due to consumer demand, quicker checkout, lower labour costs, and improved security, small businesses are moving more and more towards accepting cashless payments. However, going cashless has drawbacks, including the inability of low-income consumers to use credit cards, privacy concerns, and a learning curve for company owners who might not be familiar with setting up digital payments.

Despite the potential drawbacks, there are many benefits to going cashless for small businesses. Digital payments offer immediate payment, increased sales, and the ability to sell to customers who might use other currencies. They also allow for faster checkout, reducing wait times for customers and freeing up staff for other tasks. Due to mobile apps’ ability to accept cashless payments and reward points, digital payments can also promote client loyalty.

Juanny Romero, the founder of Mothership Coffee Roasters, adopted digital payments early on in her business’s history. She began using Square, a low-cost digital payments system for small businesses when she founded her first coffee shop in Las Vegas fifteen years ago. She avoided paying $3,000 a month in merchant fees for credit card processing thanks to Square. As Ms. Romero’s enterprises expanded to include four locations in Las Vegas and two more are on the way, she added more payment options like Apple Pay and Google Pay. She saw a change in client behavior during the pandemic, with customers no longer preferring to use cash and her employees unwilling to handle it. She ran out of money completely when the coin scarcity struck in 2020, yet she discovered that labor prices were reduced. Nevertheless, client demand compelled her to resume cash transactions, which are now maintaining a consistent 11% of her overall revenue.

Going cashless has numerous advantages, but there are also difficulties that small firms must take into account. Some business owners, for instance, are cautious to move too quickly because they fear that the technology of today may become outdated tomorrow. Issues with compatibility and cost must also be taken into account. A quick transaction might not be appropriate in sectors where products can be expensive since customers may need more time to decide. Another barrier to adoption is privacy concerns, as some people favor the secrecy that currency offers. Finally, although this is gradually improving, many Americans still have little or no access to financial services like credit cards and mobile wallets.

The pressure to adapt to digital payments is growing. More than 2.8 billion mobile wallets were in use at the end of 2020, and that is projected to increase by nearly 74% to 4.8 billion by the end of 2025. However, the United States lags behind other countries in adopting cashless payments, with only 1% of transactions made with cash in the UK compared to 11% in the US. To encourage adoption, payment companies like Mastercard are offering training to small business owners to help them understand the complexities of digital payments. Small businesses that wait to make the switch risk losing revenue, but those that embrace digital payments can benefit from increased sales, faster checkout, and increased security.

Going cashless is a necessary step for small businesses in the digital age. While there are challenges to consider, the benefits of digital payments include increased sales, faster checkout, and increased security. Small businesses that embrace digital payments can benefit from increased customer loyalty and increased sales. To make the transition, small business owners must understand the complexities of digital payments and be willing to invest in new technology. With the right tools and training, small businesses can thrive in the digital age.

First reported by The New York Times.

The post The Shift to Digital Payments: A Necessary Step for Small Businesses appeared first on SmallBizTechnology.

First of all, you need to have the right audience in mind. Who is your target audience, what is their age range, and what jobs do they do – these are just some questions you should be asking yourself. Then, the next step is about choosing suitable platforms and social media where you will reach those people. Meanwhile, you should start compiling your keyword list. They will help you in creating ad copy. Additionally, it would be great to set up your budget for advertising. 

• Start with choosing the right audience

Even though choosing the right target audience might seem like an easy thing to do, it is in fact not so easy. It goes further than just noting that the right target audience is parents. You need to dig a bit deeper. Consider what type of parents are you targeting: new parents, moms, dads, and single parents. This is important for every type of parent to look for different types of baby clothes. 

For instance, consider this. New parents would probably focus on safety, while parents with at least one more child will want items that make their life easier. A good strategy to start with is to make a list of products and note down a list of features for each one. You should have your one unique selling point feature. Then, consider who would need that type of product, and voila – you have your target audience for that particular product.

• Choose suitable platforms and social media

The next step refers to choosing suitable platforms and social media channels. Not all platforms and social media channels are suitable for all types of products, that’s why you should be careful and considerate when choosing them. It’s not the point to create profiles across all social media channels. You should start small, with one or two most significant ones at a time. For instance, Facebook and Instagram offer you the possibility to highly customize your audience according to several factors such as their location, age, occupation, interests, and others.

On the other hand, Pinterest is great for creating different looks that can appeal to your audience. So, for example, if you’re selling baby knitwear, you could create cute looks and post them on Pinterest, which parents (most often moms) can save to their collections and perhaps decide to purchase the items they saw.

• Come up with a plausible keywords list

Keywords are the way to help people find you more easily. They are essential for advertising. Keywords refer to the most popular words and phrases people type in Google when searching for a particular product. How do you start? For each product that you sell, you should create a list of generic keywords.

When you have that finished, you should go to Google and run a search for those keywords. You can use different strategies here to check which keywords work best for you. You can use Google Keyword Planner, Moz, Ahrefs, and a simple Google search and “people always ask” and “searches related” sections. When looking for keywords to use in your copy and website, focus on search volume, cost per click, and difficulty for each keyword.

• Create ad copy

After you have finished all the previously mentioned steps, it’s time you moved to create ad copy. The right ad copy will attract the target audience you desire. How you phrase your ad copy highly affects whether potential customers will purchase the product. As you’re selling baby clothes, your ad copy should always focus on what would prompt a parent to buy that particular product. There are several great strategies for writing ad copy that will get you revenue. First of all, you should answer parents’ questions and concerns. Then, you should add your unique selling proposition. And of course, high-quality images of the product with a genuine description. 

• Set up a budget for advertising

It’s also key to set up a budget for advertising. Your budget shouldn’t be too little or too much. Every business is different so there isn’t a right amount that will work for every business. When determining your budget, there are several factors you should be mindful of. Consider how competitive your business is. The more competitive, the more ad money you need to invest. Moreover, you should also consider your conversation rate goals. Also, consider whether you want to rank first on Google, where you’re targeting your ads, and whether you’re outsourcing them. 

Coming up with the right target audience for a baby clothes website is not an easy thing to do, there are several important aspects to consider. You should go step by step in order to create a plausible marketing strategy that will bring you more revenue.

The post How to Target the Right Audience for Your Baby Clothes Website appeared first on SmallBizTechnology.

Create a website

First things first, start a website if you don’t already have it. If you don’t have a website nowadays, it’s like you don’t exist at all. Then, adapt it for smartphones as many people use their phones for browsing and making purchases. Moreover, you should also be mindful of how you present your merchandise. You should collaborate with prominent influencers, to boost your online presence as well as sales. And finally, another crucial thing you can do is start a blog – more on its importance later.  

As we already mentioned, having a website for your fashion business is the first and utmost important step in advertising. It is the base. The pandemic outbreak has brought upon us a specific situation. Namely, physical stores have been closing, while the revenue in the fashion business has been increasing. That means that many people have moved their business online, which puts the focus on websites.

Your website should be appealing in a few aspects. It should look nice, modern, and suitable for the niche. It should also be highly responsive and user-friendly. Customers should be able to navigate it easily and find the necessary information quickly. Remember to include all the important pieces of information.

Adapt it for smartphones

When you have finished setting up your website, you should also make sure it is suitable for smartphones. Nowadays, people around the world use their phones for almost the same things as their computers. The only difference is the fact that we always have our phone on our hands and we can use it for shopping, ordering things, paying bills, and so on. We use them while waiting for the train, bus, or subway to finish these little things.

So, one of the great ways to get more customers is to offer them either a smartphone-friendly website or a smartphone app. In this way, you can make sure that your customers can always access your website and order things, wherever they are and regardless of whether they’re using a phone or a computer.

Present your merchandise in the right way

After you finish with the technicalities, you should work on presenting your merchandise in the right way. Start with getting quality fashion wholesale from reliable vendors. It is essential to have quality things to present to your customers. When it comes to the fashion industry and presenting merchandise, it is an industry that is highly visual.

So, you can do several things. First of all, you should get quality photos. You should present your fashion items genuinely, as realistically as possible. Make sure to use flattering lighting and take photos from various angles. Also, you can even make a catwalk video – it would mean a lot to potential customers. It is a great way to boost online sales.

Collaborate with influencers

Besides having a website that is suitable for phones, you should also work on your social media presence. That means being active across various social media channels, such as Instagram, Facebook, and TikTok, among others.

Many of these campaigns involve working with an influencer. So, it is something you should consider as it has been proven highly successful. You should find prominent influencers and collaborate with them. There are different influencers based on the number of people that are following them, so that affects their pricing.

Start a blog

People sometimes overlook the importance of having a blog. Blogs are an essential part of every business as they keep the customers engaged. Writing blog posts for a fashion business is creative and fun as it could be about anything related to fashion. You could write about the newest fashion trends, style guides, how to take care of specific types of clothes and so on. These could be things people come back for.

Also, it’s a good way to build internal and external links, which boost your SEO. In turn, a great SEO strategy can bring your website to top search results. And that would mean, higher revenue for you.

Final thoughts

Being in the fashion industry and having such a business is creative, insightful, and amusing if approached in the right way. Hopefully, these practical tips and tricks can help you in boosting your online presence and advertise your fashion business.

The post How to Advertise Your Fashion Business in the Right Way appeared first on SmallBizTechnology.

These cashiers factors determine the shopper’s experience. Despite being low-paid or even entry-level employees, cashiers collect most of a grocery store’s payments. So, why is there an increasing tendency to automate, self-checkout, and cashier-less technologies?

Until recently, cashiers were essential in retail. But upcoming federal rate hikes are causing small business owners to lose sleep.

Cashiers are the front-line employees, ringing up customers and counting every payment. A precise till is your savior. Miss it too frequently, and you lose your job. So you’re counting money and being mindful of delivering exact change.

Every hour, you herd hundreds of people, establishing eye contact, smiling, and initiating small chats. To help them discover their gluten-free cauliflower crust pizzas, diners on special diets had to search in the cooler, not the freezer.

Nothing new here.

When an item doesn’t scan properly, or a consumer believes the sale price was X instead of Y, you call your supervisor to help resolve the issue.

It’s essential to be diplomatic when the grocery section is out of a customer’s favorite item or when out of stock is over 20% of a customer’s favorite things and to thank them for their patronage. When clients complain about rising pricing, you respond politely and effectively.

Every shift, a bagger packs clients’ things into shopping bags and loads them onto carts. 15, 20 times each hour, you have to move from scanning products and counting change to bagging yourself.

When your business installed automated self-checkout kiosks, they assigned a few staff to monitor their usage. Most clients still preferred cashier checkouts.

Cashiers are essential in retail. So why do stores try so hard to get rid of cashiers?

Cashierless technology is coming to tech-enabled retailers. Big and small. Executives and cheerleaders contend that it reduces wait times, congested kiosks, and possible Covid-19 exposures. Customers may pick up their items and go out without interacting with anybody.

But, like other digital advancements like click and collect, the technology will impact store operations. Cashier-less technology not only eliminates cashiers but also needs rigorous retail discipline, de-skilling, and store supervision.

The planogram from corporate HQ dictates where each product goes. Someone must front products often to ensure proper inventory and scanning. Everything on the shelf and out the door is monitored and quantified in real-time. Changing the merchandising to fit seasons, location, or changing consumer preferences is not an option for a clerk. This new retail ecosystem monitors shops, items, employees, and consumers. Is the merchant a panopticon for convenience?

Cashiers, a service business in itself, are threatened by automation.

Cashiers accounted for 3.3 million jobs in 2018, ranking third among all occupations. Jobs in retail sales or cashier are widespread in 46 states.

The supermarket business employs about 865,000 cashiers or 30% of the total employment. Retail employees are often younger, female, and disproportionately Black, Latino/Hispanic, and immigrant. Most cashiers have no college degrees and are roughly twice as likely to be on Medicaid.

Unlike their European counterparts, who have more vital unions and better working conditions, most American cashiers must stand all day at the register.

In 2019, the mean hourly salary for cashiers was $12.00, while the median annual income for full-time cashiers was $22,100. They are underpaid and underestimated since their job is to gather and account for every retail transaction. They make up for the lack of hourly pay by enormous numbers. A busy business will have 10 to 30 cashiers working at any one time.

Getting rid of cashiers is about streamlining retail labor; businesses won’t relocate those roles.

Reduced costs directly enhance the bottom line. Grocery stores budget 12-15 percent of sales for labor, whereas mass merchants and discounters spend less. Cashier teams account for 20-25 percent of work in certain stores.

This technology’s partial implementation would appeal to retailers hoping to save 2-3% on expenses, even if it changed operations and the customer experience.

Is it possible? Online ordering, delivery, and click and collect were unthinkable only a decade ago.

Females and people of color make up the majority of cashiers.

This technology’s broad adoption would remove hundreds of thousands of jobs.

In non-inflationary periods, stores without cashiers may offer somewhat reduced costs for customers. So business owners may spend earnings in expansion and market share increase. Scale is essential in the retail industry with limited Robinson-Patman Act monitoring.

The difference will presumably return to institutional shareholders and executives as buybacks, dividends, and bonuses. Whether or not holdouts embrace the technology, the sector as a whole will be under pressure to reduce labor costs.

However, working in retail during the epidemic has forced many supermarket employees to rethink their careers.

Hundreds of thousands of people have changed employment or left the supermarket sector in the last year. With low pay, inadequate benefits, and unpredictable schedules, retail employees lead the so-called Great Resignation.”

Many stores have boosted pay and benefits to attract and keep employees. Still, these increases are often significantly below what most large metro regions consider livable.

To put it another way, this is what the minimum wage would be if it had kept up with productivity growth since the 1960s. Retailers have utilized personnel shortages to invest in greater automation. Consequently, de-skilling technology. It may indicate that these jobs are gone for good.

But presuming labor should be replaced by AI in the interest of convenience and narrowly defined consumer sovereignty is a fair dose of misanthropy. Are living pay, good benefits, and safe and pleasant working conditions antiquated and unattainable? The technology historian David F. Noble seems to foresee the authoritarian nature of automation.

Thank your cashier for their hard work next time you shop. Maybe call the store management and thank the cashiers…before they’re gone.

The post Will Grocery Stores Ban Cashiers? appeared first on SmallBizTechnology.

Supply chain disruption and low pricing are not new phenomena. You don’t have to dig hard to find statistics on it daily. Unluckily, there is no one straightforward answer to the present problems resulting from a perfect storm of various variables. Overseas manufacturers are still reeling from the epidemic’s effects.

Ports are bursting at the seams, and there aren’t enough trucks to transport the requisite amounts of cargo. This involves some deep technology for small businesses.

This interruption has had a significantly negative impact on small enterprises, which cannot typically store products well before the disruption. And we are well aware that this has directly correlated with a dramatic spike in inflation. With many other disturbances we have seen throughout time, this one also offers an opportunity.

There are several ways to prepare the groundwork for taking advantage of these changes as they present themselves. Things like reexamining price seem to be straightforward solutions, yet there are other levels of intricacy involved. Here are five essential questions to think about.

1. What is the nature of your competitive environment?

The first and most important question is…do you clearly understand your competitive landscape?

What strategies are your rivals employing? Is it true that they’re boosting prices? Is it difficult for them to even meet the needs of their most important customers?

Do they have extensive inventories or large capital reserves that they can use to leverage their position?

Of course, most of this will not be made public, but the word on the street may be pretty effective. Contact people in the business to see if you can get a complete view. This will serve as the lens through which you will view all subsequent decision points.

2. Is raising pricing even a possibility at this point?

In light of the nature of the products and services you supply, do you believe there is a chance to boost your prices?

Price hikes might take months to take effect, depending on your company’s sales cycle. This is particularly true for organizations that have long-term contracts.

Pricing is either limited or mandated to some sectors and organizations that provide services to government consumers, such as those in the healthcare industry. Each company is different in this respect, and there are numerous shades of gray around it, but there are some fundamental issues that we can address.

How much of your cost increases do you think you can avoid? In this case, let’s consider the effect of price rises.

The cost of inputs increases for businesses across the board, affecting everything from labor to raw materials and supplies. The same factors that affect offsets apply when it comes to sales cycles. If the cost of inputs increases, there may be a lag before your pricing adjustments become effective.

Price increases may also need to be phased in over time to minimize your clients’ impact. Understanding the potential net impact of price adjustments can assist you in making decisions about the quantity and timing of price increases in the future.

3. Is it appropriate to increase prices at this time?

A firm may decide that increasing prices is not the best course of action despite the challenges and possible effects on profitability.

Using your knowledge of the market environment, do you think this presents a chance to acquire a market share or strengthen consumer loyalty?

Several companies effectively used this technique during the early stages of the epidemic, allowing them to reinforce their position with their consumer base while simultaneously luring customers away from bigger, slower-moving rivals.

The ability to provide excellent customer service may be a much more effective instrument for increasing the long-term worth of a firm than changing price.

4. How much more are you willing to hike prices?

After going through all of the filters up to this point, the next step is to look at the increases’ structure.

Are the price hikes consistent across the board, or are they product-specific? If there is a staggered approach, are the increases in equal increments, or is there a spike followed by a series of more gradual rises? Is it preferable to raise prices faster than the rate of increase in your expenses to stay ahead of rising costs…or is it better to lag?

5. Examine the surrounding environment.

Do the necessary calculations, and determine the prospective consequences. Pricing may be a valuable tool in the middle of supply chain upheaval, but if utilized incorrectly, it can do long-term harm to your company.

Understand the levers you may use and the locations of the ceilings so that you can thoroughly analyze your alternatives. Although pricing may seem to be the obvious solution, is it the best solution? A thorough examination and a deliberate forward-looking approach may make all the difference.

Keep calm and discount mindfully.

Be prepared for however long it takes. Stay focused and hoard energy for the big push.

Know when to pick your battles. Engaging in a price war might do more harm to your business than good. Play the long game, and keep communication lines open with your customers.

The post SMB Strategy to Survive Disruption: Low Pricing. appeared first on SmallBizTechnology.

Since its inception in the United States, Black Friday has spread throughout the world with businesses offering a variety of deals and discounts for a limited time. It officially kicks off the holiday shopping season the day following Thanksgiving in the United States.

Is Black Friday really as relevant as it always was, given the massive shifts in how shoppers shop? Will it be a day of “too-good-to-be-true discounts,” which fuels consumerism? Is it still in line with the values of today’s buyers, especially those who want to support local businesses?

Black Friday business is still a staple of the retail calendar.

Despite the retail industry’s rocky last two years, Black Friday remains an important aspect of retailers’ annual sales plans. According to a recent survey, 38.6 percent of customers intend to shop on Black Friday this year.

Another survey says 30 percent of all retail purchases occur from Black Friday through Christmas, which is possibly significant this year due to anticipated delays and shortages.

Small business is where the conscious shopper goes for their deals.

Consumers are increasingly interested in shopping locally, environmentally, and supporting small companies.

Without a doubt, Black Friday is a terrific time for small businesses to sell goods. They’re either early holiday sales or moving stock to make room for more Christmas products. They also build client loyalty.

Smaller merchants might offer incentives such as exclusive products, referral bonuses, free next-day shipping, longer returns, and loyalty advantages in addition to discounts. For many independent stores, a charitable donation speaks directly to their customers’ values. It’s not all about price cuts.

Modest enterprises who want to stay away from Black Friday have options.

Small Business Saturday has grown in popularity in recent years, and Holly Tucker’s “Colour Friday” was recently created as a Black Friday alternative. It was designed to encourage us all to appreciate the color and creativity that small businesses contribute to the UK…before it’s too late.

Smaller firms have a lot of clout in the retail world. A vast majority of the 5.7 million registered firms were small or medium-sized at the start of 2020. So independent retailers shouldn’t be put off by the fact that the major names seem to dominate this event. They’re not thought of as least, since local delivery is a huge benefit for smaller firms in these difficult times.

The internet reigns supreme.

The shift to online shopping represents a significant change in how customers shop. When physical stores were unable to operate due to the pandemic, retailers were forced to adapt quickly to reach their customers.

This year, 84 percent of Black Friday customers will make some purchases online, according to research from shopping comparison site finder.com. As a result, small businesses must ensure that their websites are in tip-top shape, ideally with several payment methods — as recommended by independent retail experts for a successful Christmas.

The business of giving.

Independent retailers participating in Black Friday should focus on creating a warm festive atmosphere for their consumers and displaying their gift items prominently.

Small businesses can capitalize on their USP — thoughtful, local, and ecological gifts — while major stores fight to meet the consumer’s thirst for cheap discounts.

Small business does not need to be small potatoes.

The owners of small enterprises know that technology can be either friend or foe.

Many small business owners have confronted challenges with technology, especially in the last two years. That’s because the pandemic has proven a fertile field for technological innovation. This is true in everything from medicine to education to politics to merchandising.

The business of business has never been made easier than by today’s technology. At the same time trying to navigate innovations such as Zoom has given many owners and entrepreneurs nightmares. Small establishments cannot usually afford a full-time IT person. Yet they cannot get along without full-time help in that area.

What to do? Some small enterprises now offer reimbursement or outright bonuses to employees who take technology and computer courses. Other owners find it more practical, cheaper, and less time-consuming to simply hire a consultant.  The problem with tech consultants in the post-pandemic era is that they are as scarce as feathers on a bowling ball. If you can find one you are likely to pay dearly for their services.

On the other hand, many small business owners find they have a flair for working with technology. Necessity is the mother of invention…and the mother of technology expertise.

The post Business on Black Friday appeared first on SmallBizTechnology.

So why risk it?

In this article, we’ve listed down four main reasons why your business should start accepting more than just cash payments.

1. Your customers have preferences. Listen to them.

Numerous studies have shown that shoppers prefer using credit cards over cash. A consumer survey by FICO revealed that 83% of consumers aged 25-34 years old use credit cards on a regular basis. And 77% of them are likely to continue using credit cards in the next five years.

This means that more than 3 out of 4 of the age group with the highest purchasing power are likely to try and use their card at your store. Most credit cards offer cash back or flight miles, so it’s not surprising that people want to take advantage of these rewards.

With the credit card processing software available these days, it’s actually easy to provide consumers with the option to use their credit or debit cards. You’ll have a card reader in the palm of your hand for a quick swipe after a purchase. Your customers will be in and out in no time, and with no hassle at all. Some credit card processing software even have inventory tracking built in — which means your customers will never come in wanting something, only to for you to find that it’s out of stock.

2. You can help ease the burden of ballooning ATM fees.

Though it’s not much effort to make a trip to a nearby ATM to withdraw cash before buying something, the recent rise in ATM fees may just cancel out that ease.

According a recent BankRate survey, out-of-network ATM withdrawals recently hit a record high of $4.69 on average per transaction. That’s almost $15 dollars a week if you make three separate withdrawals.

Having alternative payment options will cater to your customers who don’t feel comfortable carrying large sums of cash in their wallets. Put their minds at ease by showing them that you’re open to whatever mode of payment they prefer.

3. Consumers like options. Provide them.

Though cash is still widely used, it is no longer the primary mode of payment across the United States. According to Gallup News, the percentage of Americans who use cash to make most of their purchases dropped by almost 10% last year compared to five years ago. Plus, 12% of Americans stated that they don’t use cash at all for any of their purchases.

Being able to accommodate those who still use cash, as well as those who are moving away from it, will help both the consumers and your business. Have the means to let your customers use their cards if cash isn’t readily available, and vice versa.

4. Offer the luxury of convenience to your customers.

Not only can you increase the number of people who buy at your store by not being cash only, you should also consider opening an online store to reach an even wider audience. According to EuroITGroup, online shopping went up by 45% last year. Statistics from BigCommerce also reveal that 51% of Americans prefer shopping online, which makes online shopping just as popular now as purchasing from a physical store.

More and more people are embracing online shopping. The idea of being able to get what they want without leaving the comfort of their own home is becoming more appealing, especially with the rise of next day or even same day delivery.

Providing your customers with an easy way to acquire your products, proper security, and a good return policy, will make them feel safe and welcome.

Conclusion

With payment preferences varying across the board, you want to give your customers as many options as you can. Don’t isolate any of your customer base. Instead, broaden your business horizons and keep them coming back!

The post 4 Reasons Your Business Should Not Be Cash Only appeared first on SmallBizTechnology.

What technology trend should small businesses watch for at the start of 2018?

The post 12 Tech Trends That Can Drive Small Business Success in 2018 appeared first on SmallBizTechnology.

• The ability to link mobile payments with loyalty programs and other incentives
• The ability to track customer trends as well as your inventory
• Mobile payments are an easy way to extend payment options from cash-only to credit cards
• Mobile payments typically have lower processing fees than traditional credit card processing
• Mobile payments offer your customers a faster checkout experience

Benefits to consumers (like convenience and security) also mean that business owners will eventually jump on board this trend as more and more consumers come to demand mobile payments and expect it as a payment option.

At this point in the game, it’s not a question of if mobile payments will take off – it’s a question of which company will end up winning the mobile payments race.

Currently there are several options for mobile payments from some of the biggest names in business – Apple Pay, Google Wallet and PayPal, for example, are all fighting for a piece of the mobile payment pie. As mobile payments grow in popularity, one thing is certain – whoever wins this race will take home a pretty hefty prize.

“Who Will Win the Mobile Payments Race in 2016?” is the topic up for discussion in the latest ShopKeep video where Norm Merritt and Ramon Ray discuss this question, as well as how to be a successful retailer now that cash is out and mobile payments are in.

Whether you currently accept mobile payments or not, as a business owner, this is a trend you NEED to stay on top of.

The post New ShopKeep Video Eyes the 2016 Mobile Payments Race appeared first on SmallBizTechnology.