How Mobile Payments Solutions Can Boost Customer Loyalty and Retention

It used to be good – there are only 2-3 sellers of goods on the market, you amicably sell what you want to all people in need. And there are no problems. Today, when a hundred of the same ones open for one business, the competition becomes simply frenzied. It’s getting harder and harder to attract a client to yourself every day, it’s just terrible. Moreover, it is also necessary to keep him. In a word, you have to worry about the full program.

Fortunately, there are still tools in the world that help young and old businessmen. In this article, we will talk about two types of them – tools for increasing loyalty and customer retention. Although, to be more precise, the text is dedicated to one specific thing – mobile payments solution.

How they strengthen the bond and why this is important will be discussed below. But let’s say the main thing for now is that they simplify and speed up the payment process. And everyone likes it – both the store owners and their visitors.

What will it be about

So, mobile payments are… transferring money using a phone. Makes sense, right?

There are different solutions in this area. These can be mobile wallets, payment using NFC. A convenient thing, isn’t it?

Besides that, there are QR codes. You’ve probably seen them or even use them yourself. Just pointed the camera – and now you can pay for what you need. There is no need to enter all the numbers and details monotonously, manually.

There are also special applications, often integrated into the brand ecosystem. Entrepreneurs are cunning people, trying their best to provide convenience to the user. So this moment was introduced into the ecosystem.

What is the impact on loyalty

Convenience, speed of operations and customer comfort have an excessive effect on this parameter. Anyone will be pleased (even if they don’t tell anyone about it) that the purchase was made quickly. When you don’t have to spend extra time digging into the application, you create a feeling of care and respect for the client’s time. And it has a lot of weight. When a visitor feels comfortable and well here, he will return here with a high probability.

And what’s also cool is personalization. When mobile payments are present in the company, it is very easy to track which customer buys what. Then it becomes possible to create individual offers. If a person often buys fishing things, it is probably worth offering him a ticket somewhere where a large fleshy fish swims. Everyone knows that fishermen like to catch bigger fish. And if you use it in business, the effect will be amazing. Everyone is pleased when their needs and their context are taken into account. So loyalty will increase. Along with the income.

Moreover, you can add a reward system. If you paid for something by phone, get a bonus. Everyone loves bonuses too, so use them. There are a variety of options: cashback, discounts, free stuff. This stimulates purchases, and increases the rating in the eyes of the customer. So much so that he is ready to call his friends. That’s what we need, hehe hehe.

And the last thing is the seamless payment itself. Everything happens quickly and smoothly, the buyer does not even have time to think about what happened. That’s nice.

What about the examples?

Even if you don’t drink coffee (it’s okay, we won’t judge you), you’ve probably heard of Starbucks. So, they did everything that we are talking about here – an application where you can pay for orders, save bonuses and much more, as they say. Moreover, they made not just an application, but an ecosystem. And the result was not long in coming – the giant of the coffee industry became an even bigger giant with increased loyalty. You want to come there, no matter what taste of coffee they sell there.

Another example is Uber. You’ve heard three hundred times that they’ve transformed the taxi world. There is a reason for this. They really did a cool thing – they integrated payments into the app in such a way that you simply can’t imagine the trip process any other way. Maximum customer convenience = maximum profit for the company.

Well, after all, small businesses are trying to stand side by side with the big players and offer some of their own ways to retain customers. The same discounts, but in a new way. For example, every fifth cup of tea is free. Naturally, when paying by phone.

Conclusion

No matter how many letters we write here, one thing is clear – mobile payments are good and your business needs them. So get down to business as soon as possible. We wish you good luck and say goodbye until next time.