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Accepting Payment Methods of the Future

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When you think of businesses that stay on the cutting edge of technology, you probably don’t count your campground as being in that group. However, if you want to see long-term success and have a business that truly thrives, you should start thinking of how you can stay ahead of the technological curve. One major step you can take with this is adopting additional payment methods for your customers.

It can be a little overwhelming to try to research these new, internet-driven payment methods on your own, especially if you’re not familiar with them. For some RV Park owners, this is enough of a barrier that they won’t try to adapt. To help prevent this, today’s post will break down some of the most popular new payment methods. You’ll have a quick reference guide for how the technology works, what you need to do to implement it and why you need to stay informed.

 

Why It’s Important to Stay Ahead of the Curve

Regardless of your current customer base, the fact of the matter is that if you want to stay in business long-term, you’ll have to continually look ahead to the future. This means adapting your campground to be as convenient and connected as possible. Even if you don’t see much initial usage of these newer payment methods, you’re setting yourself up for long-term success by adopting the technology quickly.

Keeping up with advances in payment technology is just as important as maintaining your online presence or thinking of new ways to make your site more attractive to customers. Doing this will also put you ahead of most of your competition because many other RV Parks dismiss the importance of investing time and money into this kind of technology.

Below you’ll find a list of a few of the most popular new payment methods, and by the end of this post, you’ll have a much better understanding of how the technology works and how it can benefit your campground.

 

Smartphone Payment Apps

These payment apps have actually been around for a few years, but they haven’t been used very extensively until recently. You may have heard of Android Pay or Apple Pay, but you might not know hat they are. The two major smartphone platforms are Apple, which is the company responsible for the iPhone, and Android, which is owned by Google.

For iPhone users, there is a mobile application called Wallet that allows people to use the Apple Pay feature. This app is a secure, digital wallet that people can use much like a physical wallet. For people with Android phones, there are two apps called Google Pay, which was formerly Android Pay, and Samsung Pay that perform similarly. Samsung Pay is not as popular as the other two, however. Using these apps is usually referred to as a “contactless transaction” because it doesn’t involve money changing hands or swiping a physical card.

The apps can keep track of things such as:

 

– Credit cards

– Debit cards

– Gift cards

– Store loyalty cards

– Airplane boarding passes

– Account balances

 

These apps make it quick and convenient for people to pay for goods and services in stores and online. They are also more secure because they don’t store or share information like card numbers or transaction details.

 

PayPal

PayPal is one of the most popular online payment methods in the United States. Recently, they have begun to offer methods for customers to use their services to pay for transactions in person as well as online. Customers with a PayPal account can have their bank accounts, credit cards and loyalty cards stored in a password-protected account on their mobile phones.

Merchants can use this platform to send invoices or request money from customers ahead of time, but it can also be used to complete a face-to-face transaction if you have the function enabled. Many people like this because it’s easy, and their credit card details are not shared.

 

Bitcoin and Cryptocurrency

Bitcoin and cryptocurrencies have become buzzwords in the news lately, but you still might not understand how they can be used as money because of their relative newness.

 

What is Cryptocurrency?

Even if you’re familiar with the word, you might dismiss it as a fad or a scam, and that’s understandable. It’s a common opinion for people to have when they first hear about Bitcoin. Basically, cryptocurrencies are highly secure digital assets that can be used like regular currency. They’re decentralized, which means they aren’t backed by a bank but instead are kept safe through a technology called a blockchain.

Blockchains are like large databases that keep track of every transaction that happens for a particular currency, and they can’t be changed or deleted. This acts as a sort of ledger to make sure all transactions are verified and completed correctly.

 

What Do I Need to Know About It?

Many finance experts think that these currencies will become more mainstream as time passes. This means that you should start learning about them and understanding how they work as soon as possible to keep from losing out on future business opportunities.

The main things you need to know are:

– It is legally recognized as an acceptable currency, much like a gift card or voucher.

– The exchange rate can be continuously viewed and updated through reputable websites so that you’re able to change the digital currency into USD instantly.

– For tax purposes, most merchants treat cryptocurrencies like cash.

 

How to Begin Accepting New Payment Methods

Fortunately, accepting new payment methods doesn’t have to be a huge, expensive hassle. Most more modern point-of-sale register systems are capable of supporting contactless transactions, which will allow you to set up Apple Pay, Google Pay, and other mobile payment methods. If you’re unsure, you can contact merchant support to find out if it’s possible to activate contactless payment on your register system. They can walk you through the process and answer register-specific questions.

Accepting cryptocurrencies can be a bit trickier. One way to do this would be to set up a digital wallet account on a trusted platform and allow customers to transfer money directly to you that way. Another option is to perform transactions via a smartphone app, similar to other contactless transactions mentioned above.

Overall, by adapting to these new payment methods early, you’re setting your campground up as forward-thinking and exciting. This will help you attract a broader range of clients and boost your reputation over time.

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