Technology is constantly revolutionizing the way your customers interact with your business. After e-commerce and online payment, most major online brands now have mobile apps so that customers can select, shop, and pay for their purchases by just tapping on their smartphones.

Recently, the automotive industry has jumped on the bandwagon and this trend will not only boost sales but will also help build a loyal and happy customer base. For example, if you’re a car dealer, you can use a mobile app to inform your customer about exclusive deals & promotions, give them reward points, and set schedules for car servicing. This way, you will be able to establish a long-term relationship with your customers.

Mobile Payment Trends Are Here To Stay

In this tech-savvy world, a lot of consumers are dependent on their smartphones and expect to make all their purchases through mobile apps. In order to keep up with this new trend, app developers have come up with the concept of the digital wallet and other mobile payment systems. These technological developments are slowly changing the market scenario as more and more retailers adopt these modes of payment.

A digital wallet allows a consumer to link their bank account or credit card details with the software. Now, whenever they shop, the digital wallet will make the payment on their behalf. This not only saves them from the mundane task of entering bank details for every online purchase, but also eliminates the risk of losing money from a physical wallet. Apart from this, digital wallets also carry the benefits of store vouchers and coupon codes which can be used as per the customer’s convenience.

Payment Trends to Watch Out For

Consumers are taking an active interest in pre-paid cards, e-money accounts, and biometric payments. Pre-paid cards are usually linked with e-money accounts and they are preferred by people who don’t own a traditional bank account. Biometric payments are going to be the next big change in the mobile payment world, as fingerprints and voice recognition technology will be used to make payments.

Mobile Payment Facility at Your Store

Many reputed e-commerce companies have launched mobile apps to not only ease the shopping experience of their customers but also to build a relationship with them. For example, if you own an automotive spare parts store, you can start a mobile payment facility for your customers and also offer discount coupons or loyalty schemes periodically. This will keep your customers happy and in turn boost your business.

Mobile payments also provide convenience and efficiency for your service departments. For example, when the customers bring the car in for a service, advisors can send a push notification message to the customer that the car is ready for pick up and allow the customers to pay for the service from the mobile phone itself. This not only provides a convenience for the customer but provides efficiency for the dealership staff.

Mobile payments are secure, as the information transferred to the merchant is encrypted and nothing is stored on the device. As a result, consumers find this route of paying more reliable and safe.

Staying on top of trends is the no.1 way to retain and acquire customers. By introducing mobile payment apps for your brand, you will not only keep your customers happy but will also be able to expand your business horizon.