For many businesses, the rapidly changing market is causing a number of business to reevaluate the way they accept payments. While cash is still the most common option, the rise in credit card and mobile options are changing the way that consumers, especially younger ones, prefer to pay.
In a recent column for GeekWire, Taylor Soper profiled the ways that Seattle taxi drivers are accepting payments. In Soper's experience, drivers prefer to make transactions in cash, while many consumers like plastic. However, during a two week of stay in Seattle, he noticed that every drive was able to pull out a Square reader for processing credit card payment on a smartphone.
By using these devices, drivers are able to save money on processing fees while still being able to offer a quality service. This has also been a growing practice for drivers across the country.
"Using innovative technology inside a taxicab was, at the very least, interesting to see given what's going on in Seattle right now," Soper wrote. "Complaints about payment in taxicabs — specifically the fact that drivers don't like accepting credit cards — is one reason why some prefer the new ride-sharing startups like UberX, Lyft and Sidecar, all of which allow you to pay with your smartphone."
The ability to accept any kind of payment in any situation is helping companies capture business and keep consumers happy. With a cloud-based solution, organizations can integrate multiple platforms and locations to improve reporting and the customer experience.