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digital wallet - what small business needs to know

mall business needs to compete with big retailers, reduce costs and keep it simple. Digital Wallet apps can help

digital wallet for small business - what works and why

digital wallet online shopping mobile apps For small business owners, you have to do more with less, and your payment transactions are likely required by your customers. Digital wallet apps like square up and paypal here are focused on small business and vendors by offering simple readers, user-friendly apps, and low costs. In addition, paypal and square offer readers for free, and a simple 2.75% and 2.7% transaction fee to simplify and lower costs as well. As always, review the details first, compare your options, and you may find a great solution for your company.

possible concerns?

Digital wallet apps that use Visa, Mastercard and others have fees that may change. We simply don't know the future yet. Also, using an iPad, Android mobile or iPhone just like any device requires security protection. Make sure to use password protection, to have a secure wi-fi in your office (if applicable), and check out virus protection software options. Also, keep the table or mobile secure if being used for financial transactions.

 

Here's some quick tips

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  • compare options like squareUp and PayPal
  • choose a technology that matches your technical ability. We expect square to focus on ease-of-use, but that usually limits features.
  • Use a technology your customers will trust
  • keep security tight on the tablet, mobile and wi-fi if used for payments
  • if possible choose a reader for your existing device to reduce start-up costs

last update: 5/6/2013 S. Laney

 

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