Benefits Businesses Love
Here are some of the current benefits for PayPass enabled merchants:
Card present rates: When customers swipe their cards at a merchant's payment terminal, the merchant pays a reduced transaction amount, which is generally referred to as a card present rate. A PayPass transaction is billed as a card present transaction, thus saving the merchant on these transaction fees as opposed to card not present or MOTO transactions.
No hidden or additional merchant fees: Google does not charge merchants any fees for transactions made through Google Wallet.
User-friendly technology: Customers simply tap and pay to complete their mobile commerce transaction. They don't have to learn how to use your specific terminal. (Payment terminals vary widely in their user-friendliness.)
Enhanced customer satisfaction: Keeping customers happy and satisfied is less expensive than romancing new ones. Because the PayPass tap and pay method is simple and easy, your customers' shopping experience is more enjoyable, and you build customer loyalty.
Merchant incentives: Google is offering a wide range of incentives for merchants who choose to become PayPass enabled via Google Wallet.
Proposed open commerce benefits:
- As Google incorporates more credit card issuers and payment instruments into the Wallet, it will become more attractive to consumers. This creates a large customer pool of potential customers for your business.
- As more and more smartphones become NFC enabled, your available customer pool grows.
This is just a small overview of the many features and benefits of becoming a PayPass enabled merchant. As you do your due diligence and research the matter, you are bound to uncover advantages that are industry specific to your goods, products or services.