Mobile device payment options offer flexibility for both consumers and businesses. [Titled "Mobile Merchandising" in the print edition.]
Want to reach more customers? Greg Schaub, executive vice president for business development at ChasePaymentech, explains how accepting payments on a mobile device offers a convenient and expansive alternative to the brick-and-mortar confines of commerce.
Associations Now: What's one of the biggest benefits of a mobile payment service?
Schaub: Done right, it really acts as a tool to help business owners expand their clientele and their marketing. It allows them to get untethered from the confines of a brick-and-mortar location, or even a website if that's how they market, and to be out and about with their business. From a very simple level, business owners should be able to have access to more customers and more locations.
How can you avoid potential security risks?
Make sure the device [taking the payments] is encrypted. Looking at the reputation of the application and of the product provider of that mobile app is important, and make sure you know the financial institution and that it stands behind those transactions.
What additional advice would you give an association considering a mobile payment option?
When there are things that go wrong and someone needs to call your helpdesk, make sure there is a live person at the other end of that phone who can answer questions quickly so that your business is not disrupted.