Top 5 Reasons to Integrate Digital Payments to your Salon Business
With the increased use of mobile devices and continued uptick in adoption worldwide, contactless payment methods have become more popular than ever. From purchasing things like groceries and other household items to paying bills and sending money to others, people are utilizing mobile apps and digital wallets to handle the transactions. In fact, by 2023 the transaction value is expected to grow past $220 billion in the US alone.
More than 75% of Americans utilize digital payments. Why not when you have the luxury of deciding from a growing number of mobile payment systems and solutions? PayPal, Venmo, Google Pay, Apple Pay, the list goes on. 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, this is a powerful indicator that these payments behaviors are likely to persist in the long term.
However, despite growing awareness and adoption, roughly 50% of traditional businesses have still not aligned themselves with digital integrations due to perceptions of value, security, and availability - posing a massive impediment to their survival.
These days, if you want to stay ahead of your competition, keep up with client expectations, and continue to grow your salon business, integrating payment gateways and adapting to the changing landscape is the only way forward.
To make matters more urgent, American consumers have been accustomed to the likes of a mobile-first economy, including businesses that have been offering such payment convenience since they began. So, for any small business to compete and thrive, meeting this expectation is a vital step.
Here are our top 5 reasons how integrating digital payments can boost your salon business:
1. Quick Payments
When you integrate a payment gateway in your salon app, you give your clients the ability to go cashless while choosing from an array of options like a credit card, debit card, in-app wallets, payment platforms, etc. Bundle this with the convenience of in-app bookings, ecommerce, and tendering the exact change, and you prompt your clients to choose your salon over other traditional players within the salon industry.
Want to make the most of your salon app? Get a custom app for your business. Click here to learn more.
2. Secured transactions
Regardless of some reservations surrounding the safety of online payments, each digital transaction is end-to-end encrypted and protected with face recognition, fingertip sensors, or codes for authorization. The money then gets directly transferred to the service provider’s bank account sparing no room for intermediaries or commission and mitigates the risk of fraudulent activities.
3. Payment Automation
Payment gateways allow you to automate the bill generation process for your customers by computing the exact bill amount depending upon the products and services they’ve selected. This ensures complete transparency into the transactions, making your salon service a more reliable and trusted option as against conventional pricing.
4. In-app Promotions
By offering in-app wallet promotions such as cashback offers and discount codes you acquire your salon business more repeat business opportunities. You can also offer your existing clients referral bonuses to your existing customers to increase your customer base and boost brand recognition.
The digitization of transactions offers your business a channel to streamline your operations and manage your cash flow in a more unified way. You can record transactions, quickly process payroll, and remunerate your partners with the same digital payment systems. 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 payment gateways of your choice and improve business prospects? Get in touch with sWorks today for a personalized app, starting at $500. Click here to know more.