Finder makes money from featured partners, but editorial opinions are our own.

Not just in-store: 5 types of SMEs that can benefit from mobile payments

Posted:
News
Business_Owner_Holding_Phone_Canva_1800x1000

There are plenty of businesses and organisations that can benefit from mobile payments and don't realise it! We take a look at some of them.

Sponsored by Tyro. Accept contactless payments with an iPhone and the Tyro BYO App, no extra hardware required. It's a fuss-free payments solution for mobile SMEs.1

If you're a business owner, you probably tend to associate mobile payment systems with retail outlets and traditional storefronts.

But the scope is actually much bigger. There are plenty of business operators and sole traders that can benefit from using Tap to Pay solutions.

One of the traditional barriers has been the need to invest in separate hardware.

But the good news is that mobile payment systems have also evolved beyond this requirement.

Systems like the Tyro BYO App1 allow you to process in-person payments using just an iPhone, no additional hardware needed2.

So today, we're going to look at some of the businesses that might be able to benefit from mobile payment systems – such as the Tyro BYO App on iPhone – and how they can help.

1. Charity and NFP operators

In a world where the use of cash is on the decline, charitable organisations can have a tough time collecting donations.

But a mobile payment system – like the Tyro BYO App – can free you up to take donations on the spot. You can simply input the donation amount, and the donor can tap their card and go.

It's a way to significantly streamline the process, allowing donors to easily make one-off payments. You're also able to accept donations across a broader range of payment types, without needing to rely on cash.

πŸ“±Tyro Tip! Tyro BYO doesn't require separate hardware. Simply download the Tyro BYO App on your iPhone, register, and start taking payments2. Note: The Tyro BYO App requires iPhone XS or newer, running on iOS 16.4 or later.

Picture not described

2. Travelling salespeople

If you're in sales, you know that every extra barrier in place makes a sale less likely.

It's no different when you're on the road, either! So having a mobile payment system – for example, the Tyro BYO App on your iPhone – in place to be able to finalise sales on the spot can be extremely handy.

You're able to reintroduce the often-crucial element of urgency to the sale, by being able to close there and then.

Additionally, you cut out the need for chasing payment further down the track. This creates a more positive and seamless experience for the customer, which in turn can make them more likely to purchase again in the future.

πŸ“±Tyro Tip! With Tap to Pay on iPhone and the Tyro BYO App, accepting payments is easy, secure, and private3.

3. Transport and logistics staff

When you're in the transport business, you tend to be in the business of payments and invoices by default too.

But it doesn't make sense to cart around an EFTPOS machine all day on the off-chance that you need to take a payment or two.

Rather, you can just use your smartphone to process payments, via an app like the Tyro BYO App instead.

This way you're able to strike the middle-ground of having a versatile payments system available when necessary, without adding additional set-up and hassle to your route.

πŸ“±Tyro Tip! Tyro BYO accepts a range of payment methods, including major credit cards and digital wallets like Apple Pay and Google Pay. This means that you can accept a great range of payments, enabling a more seamless experience for your customers.

Picture not described

4. Mobile businesses

All sorts of businesses are based out of the back of a truck – tradies, cleaners, animal carers and many more. And they need payment solutions to suit their working style.

Chasing unpaid invoices is time-consuming and takes away from core business focuses. Conversely, requiring immediate cash isn't necessarily convenient for the customer, either.

Mobile payment systems like the Tyro BYO App allow you to split the difference. You're providing capacity for immediate payment without requiring extra investment on your part, while also eliminating the need to chase clients further down the track.

πŸ“±Tyro Tip! Having a mobile payment system can be a great way to keep your business paperless. Rather than needing to print everything out, a digital receipt can simply be sent to your customer – no matter where your transaction takes place.

5. Sole traders and side hustlers

If you're running a small business that doesn't need payment hardware full-time – such as a market stall – a mobile payment solution can be an excellent middle ground.

You've got the convenience of being able to accept payments as and when required, without having to involve the expenses of a terminal.

Some side hustles can also involve significant chunks of change that you may not be comfortable carrying around on your person.

For example, if you've offloaded some expensive items on a public forum like Facebook Marketplace, you might prefer to accept digital payment, rather than cash.

Having access to a mobile payment service like Tyro BYO can significantly streamline this process. You're able to hand over the goods, and the customer doesn't need to worry about having cash handy, either.

πŸ“±Tyro Tip! Having a mobile payment system in place can be a great way to avoid the hassles (and potential security risks) of having to carry a cash float around.

Discover Tyro's range of mobile payment solutions today

Sponsored by Tyro. Accept contactless payments with an iPhone and the Tyro BYO App, no extra hardware required. It's a fuss-free payments solution for mobile SMEs.

Image: @Dean Drobot via Canva.com Image: @Dean Drobot via Canva.com Image: @Monkey Business Images via Canva.com
Go to site