5 Reasons to Accept Digital Payments for Your Spa Business
Updated: Mar 8, 2022
In today’s mobile-first world, it’s no surprise that the adoption of digital payments continues to increase worldwide. From buying groceries to paying utilities, many of the things that we regularly pay for are handled using digital wallets. In fact, reports show that by 2023, transaction value will cross over $220 billion in the United States alone.
More than 75% of Americans utilize digital payments for browser-based and in-app purchases, in-store checkouts, and person-to-person payments. As the number of users continues to rise, so does the number of mobile payment systems including PayPal, Venmo, Google Pay, Apple Pay, and many more. With 70 million users in 2020 and more than half of US consumers reporting a shift to online payments since the onset of the pandemic, it's safe to say that this is a trend that will only continue to grow.
That said, despite the growing adoption of digital payments, nearly 50% of traditional businesses have yet to align themselves with digital payment integrations. Why? It’s largely due to misconceptions about value, security, and availability. Regardless, if you don’t adjust to the expectations of the consumers, you are certainly impeding your survival.
These days, integrating payment gateways and adapting to the changing landscape is vital to staying ahead of the curve, retaining your customers, and growing your spa business. What makes the matter more hard pressing is that the American consumers are accustomed to the likes of this mobile-first economy in which many businesses have been offering such payment convenience since the very start. Thus, for any small business to compete and thrive, meeting this expectation is the most preliminary step.
Here are our 5 reasons to accept digital payments for your spa:
1. Faster Payments
Digital payments such as credit and debit card payments, in-app wallets, and other mobile app payment platforms allow you to process faster and more convenient payments for your clients. In addition to offering other app-based solutions such as in-app booking, ecommerce, and tendering exact change provide the convenience and ease that client expect. In today’s mobile-first economy, just by implementing these options you’ll be preferred over other traditional players within the spa industry.
How can you make the most of your spa app? Click here to learn more.
2. Secured Transactions
Although some have reservations about the safety of online transactions, every digital transaction is end-to-end encrypted - oftentimes protected with fingerprint sensors, face recognitions, or authorization codes. All payments are directly transferred to the service provider’s bank account, leaving no room for intermediaries and mitigating the risk of fraud.
3. Payment Automation
Digital payments allow you to automate the billing process. This ensures complete transparency into the transactions, making your spa service a more reliable and trusted option as against traditional pricing.
4. Wallet Promotions
Offering in-app promotions like cashback and discounts allows your spa more to create more opportunities for your clients to save and ultimately creating more business. Additionally, you can give referral bonuses to existing clients to increase your word-of-mouth marketing efforts and boost brand value.
5. Streamlined Operations
Digitization offers your business a channel to streamline your operations and manage your cash flows in unity. It allows you to record transactions, quickly process payroll and remunerate your partners with the same payment gateways. The freedom of moving away from your traditional paperwork, reducing clerical dependency, and getting the work done more systematically and efficiently lowers your business overheads and boosts the bottom line of your business.
Want to integrate digital payments and improve business prospects? Get in touch with sWorks today for a personalized app. Click here to learn more.