The Bright, Mobile Future of Credit Card Payments

In a world where people want a quick-fix and faster ways to do things, it is no surprise that credit card payments are following suit. In an effort to help patrons get in and out the door easier, several restaurants and stores in Canada, the U.S. and Australia have implemented virtual payment terminals, made possible by integrated processing software from companies like Payment Processing Inc. This means that paying for food or clothes can be handled at the table or on the go without needing to swipe credit cards and debit cards.

In some ways, PayPal has been leading the mobile payment processing charge for quite a few years now. Many online retailers offer multiple payment options, and next to the icons for Visa, MasterCard, American Express, and Discover, is often the familiar bright blue PayPal logo. This allows people to have money debited directly from their PayPal account without having enter in their credit cards online, which could be a more secure way to conduct transactions. As Target recently found out a few months ago in their massive security breach, credit card information is not always completely protected.

But credit card payment processing is now shifting toward smartphone apps. Credit card information can be loaded to any consumer’s smartphone, and be used for payment as long as the user has internet access. In other words, at the end of a meal in a restaurant, a patron can remain seated, select the desired credit card for payment, and charge the bill to the card. This is, of course, predicated on whether the restaurant has implemented virtual terminal processing, available through companies like Payment Processing Inc., and ROAMpay from Flagship Merchant Services. As long as both the restaurant and patron have downloaded the necessary software and app respectively, mobile payment processing can happen instantaneously.

Other advantages of virtual payment terminals include increased productivity, decreased down time, and saved paper. For example, in a retail store, mobile payments allow staff to move on to the next customer quickly without having to wait for a receipt to print, as these are typically sent to the customer’s email address or as a text. In addition, it takes time for waiters and waitresses to walk back and forth between a table and the cash register to print a patron’s bill, collect the payment, return a credit card or change along with the receipt, and then finally pick up the tip. This is valuable time that could be spent on seating and serving other patrons.

As other industries and companies, such as Rogers, begin to accept mobile payment through apps, this method will become more popular. It relieves customers of having to carry plastic around in their wallets, and needing to enter their personal information on websites. Companies like Payment Processing Inc. and Flagship Merchant Services are helping to spearhead the future of payment processing, and change the way all enterprises do business.

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