Best Mobile Payment Apps for Small Businesses
Mobile payment or “tap to pay” apps let small businesses offer in-person checkout to their customers without the need for expensive hardware. Install an app on your Android or iPhone, sync it with your bank account and product catalog, and you’re good to go.
In this article, you’ll learn about the best mobile payment app for your business. You’ll also see why a fully integrated system like Prestige Rep might be the best-value option.
What Is a Tap to Pay or Mobile Payment App?
Let's look at a Tap to Pay or Mobile Payment App from the consumer's point of view.
Welcome to the digital age, where your wallet is taking a backseat, and your smartphone is becoming your new best friend at the checkout counter. Today, we're diving into the world of "tap to pay" or mobile payment apps, and trust me, it's a game-changer for quick and secure transactions.
So, what exactly is a tap to pay or mobile payment app?
Imagine this: you're in a rush, you've just grabbed your morning coffee, and you're about to fumble around for some coins or that elusive debit card.
But wait! With a tap to pay app, all you need to do is bring your phone close to the payment terminal, and voilà, the payment is made. It's like magic, but it's technology.
Mobile payments work using near-field communication (NFC) technology or magnetic secure transmission (MST).
These allow your smartphone to communicate with the payment terminal, creating a seamless and contactless payment experience.
It's not only super convenient, but it also adds an extra layer of security, as your card details are never directly shared with the merchant.
But why are tap to pay apps becoming so popular?
For starters, they're incredibly user-friendly. You can link your debit, credit, or even loyalty cards to the app, making it a one-stop-shop for all your purchasing needs.
Plus, with the added security features and the ability to track your spending in real-time, it's no wonder that more and more consumers are adopting his technology.
How Does Tap to Pay Or Mobile Payment Apps Work For A Business?
A mobile payment app is essentially a mini point of sale (POS) system that runs on your smart device.
You can use it to accept in-person payments and automatically update your inventory without the need for expensive hardware.
The term “tap to pay” refers specifically to the technology that customers can use to tap their credit card or mobile wallet (like Google Pay or Apple Pay) to make contactless payments. The app turns your mobile device into a tap to pay terminal.
Mobile payment or tap to pay apps are much easier to set up and far less costly than traditional mobile POS systems, which include cash registers, barcode scanners, and dedicated card terminals.
Mobile payment apps also typically integrate with inventory management software, whether proprietary or third-party.
For example, Prestige Rep includes an inventory management platform and a tap to pay app that updates stock levels in real time.
Many small business owners use a mobile payment app to supplement online payments through their websites.
How Much Does a Mobile Payment App for Small Business Cost?
The cost of mobile payment apps varies. You’ll usually pay a payment processor like Stripe 2.7% plus a transaction fee of around 10 cents or so for in-person transactions.
When picking an app, it’s important to check if the app developer adds any extra charges.
If you pay for a full mobile POS system with hardware like card readers and scanners, costs can add up.
You’ll also likely need to account for software. Inventory management, accounting, client admin (CRM), document management for receipts—the list goes on.
A tool like Prestige Rep cuts these costs substantially by offering an all-in-one solution.
You essentially get a complete stack of software for a single monthly cost. This covers all aspects of inventory, accounting, and client management.
In addition, you’ll only pay the processor fee when using Prestige Rep’s tap to pay solution. Prestige Rep doesn’t take anything extra.
Does a Mobile Payment or Tap to Pay App Work on Its Own?
A mobile payment app can work on its own. However, for anything above occasional sales, you will need supporting software.
Even if you forgo apps that many store owners consider essential—such as a management tool for running Facebook ads or an E-Commerce platform for the online side of your business—tasks like running email promotions to customers and organizing accounts still require dedicated software.
One option for small businesses and store owners is to opt for an all-in-one solution like Prestige Rep. With Prestige Rep, you gain access to a complete suite of tools for accepting payments, managing inventory, running an online store, organizing your accounts, creating a loyalty program, and more.
Best Mobile Payment Apps for Small Businesses
1.) Prestige Rep - Best All Around ⭐🙂
You might level the criticism that we’re a little biased, but we think Prestige Rep gives the best all-round experience with an easy-to-use mobile payment app embedded in a comprehensive business software suite.
Don’t take our word for it, though. You can try Prestige Rep risk-free.
Specific tap to pay features include options to:
Add taxes, tips and discount codes at checkout
Flexibility with payment processors (you can integrate with any processor in the app store)
Support on both Android and iPhone
You can send email receipts to customers from your mobile device after checkout.
Additional business software you won’t have to fork out any extra charges for includes:
an ecommerce site builder
inventory management
membership schemes
document management
customer data and customer relationship management (CRM)
ads management
customer support chatbots
and much more.
Like we say, don’t take our word for it. You can get up and running with the tap to pay feature in minutes risk-free here.
2.) Shopify Payments: Best for Integrations With Shopify
If you already have a store with Shopify, its mobile payment app is worth considering. You’ll need to purchase a Shopify subscription if you don’t already have one, with plans starting at $29/month. The base subscriptions will entitle you to use mobile device tap to pay on the POS Lite plan.
Generally speaking, Shopify’s tap to pay solution is worth considering if you already have or are planning to build a Shopify store. It’s only supported on iPhone and there is an additional charge after the first 100 transactions per month.
3.) Square: Best Standalone Provider
Square is a good standalone option that has transparent pricing—it sits at the usual level of around 2.6% + $0.10. If you need additional hardware, such as a card reader, Square has a number of low-price options suited to small businesses.
The point to keep in mind with Square is that it doesn’t come with any additional software. You’ll need to purchase all supplementary software to manage your business.
4.) QuickBooks: Best for QuickBooks Users
If you use QuickBooks to manage your accounting tasks, you can use the GoPayment app to accept payments.
You will need to purchase a card reader to sync with the app so this is more of a mobile POS proper rather than a tap to pay solution There’s also the option to manually enter a client’s details to take a card payment, but that carries a higher fee.
If you’re not using QuickBooks, we think there are better alternatives to GoPayment. It’s not a true mobile tap to pay solution, and you will have to pay for the card reader.
Meet all your inventory, invoicing and mobile POS needs with Prestige Rep
A mobile payments or tap to pay app is a straightforward, low-cost way to take payments from your customers and accept Apple Pay, Google Pay and other popular payment methods.
However, it’s only one small part of running a business. An all-in-one solution like Prestige Rep helps you manage all aspects of your small company, from creating and sending invoices to managing your online reputation and booking meetings.
If you’re open to trying a fully integrated software solution that includes an easy-to-use mobile tap to pay solution to process payments, sign up for Prestige Rep risk-free today. You can start taking payments in minutes—in addition to everything else!
