Cash is always not the best option when it comes to conducting business; more so, when the pandemic is yet to die down completely and most of the customers have moved on to purely digital modes of transactions.
Therefore, business owners also need to implement new strategies and payment options to enable transactions that are simplified and will make their customers’ lives easier. This is where scan pay steps in enabling easy and seamless transaction processing involving only a QR code and a digital device like a smartphone.
In this article, we will look at a few points that will shine a light on the fact that scan to pay actually improves your overall business, while at the same time increasing customer loyalty. But first, let’s look at the basics.
Scan to pay is a digital payment option that allows your customers to make payments for goods and services using their smartphones.
They are simply required to scan a QR code or a POS device that is essentially a square-shaped barcode with payment-related information stored within its pixels using their smartphones.
The process is completely cashless and contactless, giving it an edge over cash-based transactions.
Now that you are familiar with the concept of scan pay, let’s look at the benefits of implementing such a system into your day-to-day business operations.
Even though modern POS devices no longer cost as much as they used to a few decades back; a QR code outmatches all in terms of investment required to implement the system. Why? It’s because it is as good as free to implement. A person only needs to print out the QR code with their banking information embedded within and place it somewhere where customers can easily scan the code. That’s it, no physical POS device is required, and neither there is a need for any other type of special equipment.
Since QR codes are UPI-based, they are one of the safest ways of transacting. Neither the customer nor the business owner needs to share any banking information to make transactions happen as everything is embedded within the code. A customer simply needs to scan the code with any app that supports QR code scanning and make payments happen instantaneously. Normally, it would take someone less than 2 seconds to complete a transaction using scan pay.
Business owners wanting to roll out EMI options for their customers can use scan pay to give them the option to convert their purchases into easy-to-pay EMIs. Since digital payments can be tracked down to individual options, business owners can give their most valued customers discount offers, EMI purchase options, and even credit lines they can use to buy goods and services from their shops.
The above point will directly lead to more customer loyalty because extending customized offers based on their buying patterns will motivate them to buy even more. Moreover, the ease of making purchases using scan pay will make them feel safe due to the cashless and no-contact of this payment mode.
Scan pay is one of the best payment options out there that can be enabled by any business owner wanting to expand beyond their existing customer base. Moreover, since the world has witnessed a paradigm shift in the way customers buy goods and services, not doing so will hurt a business’s long-term prospects.
Therefore, if you are a business owner, by now you know that you don’t even need to invest in a POS device. So, nothing is stopping you from getting that bharat QR code printed and displayed prominently across your outlets.
We are sure, that once you do that, your business will start attracting more customers leading to higher sales and much higher customer retention. So, get that scan pay implemented right away and start reaping the rewards!