Delivering Retailer Growth with iZettle
For customers in this age, it’s assumed that most retail outlets will have the capacity to accept payment via card and in some cases, by smartphone. As such, more people are now choosing to go cashless than ever before, removing the worry of having to carry money around in their pocket.
However, costly transaction fees, fear of change and restricted knowledge of technology by storekeepers means that some shops are still relying on traditional cash payments - limiting potential business opportunities significantly.
This week, we take a look at financial technology specialist, iZettle, to see how its mPOS app has been helping small businesses. By eliminating any concerns about mobile payments and helping to grow their customer base, it is helping to reduce the amount of incomplete transactions caused previously by a lack of card reader machine.
Found simply as ‘iZettle’ in the app store, this POS tool also doubles up as sales and marketing analytics software. It even provides a platform for tracking P&L information and accessing potential finance support.
Launched in July 2016, its card reader can be used to accept payments by the traditional plastic card, Apple Pay and Android Pay. It’s wireless and portable, and can perform transactions from different locations where Wi-Fi or 4G is available. This makes it an ideal solution for those businesses that do not operate out of a traditional stall, such as a pop-up or market trader.
Unlike many traditional card transaction providers, the iZettle reader operates on a pay per transaction scale, meaning business owners are only charged when the system is in use. Crucially, the card reader is also compatible with receipt printers, meaning customers are able to takeaway a tangible proof of transaction that can be used for expenses or auditing purposes.
Receipts can often be the only connection that is maintained between a retailer and its customers following a transaction, so the importance of issuing a physical copy should never be underestimated. Many people are wary about handing over their email address at the fear of being bombarded with spam, or at a risk of data breach – particularly for the older generation.
It’s important to remember that while solutions such as iZettle are a tremendous asset for small businesses, traditional elements of the buying process should always remain in place, such as the provision of a printed receipt. Improved customer retention rates and repeat purchases are only going to increase by providing these services.
In this age, retailers who aren’t able to process card transactions in store should re-evaluate how much potential revenue is being lost by customers leaving a shop following an incomplete sale. Never before have card transaction facilities been so simple to install and storeowners should take advantage of this to help grow their business.
For more information about iZettle, visit www.izettle.com