SEP 2016

DAYSPA is the business resource for spa & wellness professionals! Each issue covers the latest in skin care, spa treatments, wellness services and management strategies.

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Page 104 of 124 102 DAYSPA | SEPTEMBER 2016 MANAGEMENT WORKSHOP MOBILE PAYMENTS Applications that enable consumers to pay for services via mobile devices were consigned to a niche market just a few years ago, but thanks to the smartphone boom mobile payment is a growing sector. With the trend on the rise, there's now a wide variety of applications for use on both Apple and Android devices, some of which are well suited for spas despite being meant for mainstream use. These include (but aren't limited to) Google Wallet, Apple Pay, Samsung Pay and Android Pay. Accepting these forms of payment generally requires having a Near Field Com- munications (NFC) terminal, which your processor or bank can provide. Using these apps can be both faster and more secure, as you're not actually receiving clients' credit card information. Despite the options available, consumer mobile payment adoption rates are lower than expected. A sur- vey by Accenture in 2015 revealed that although consumer aware- ness is growing, usage is lagging behind. "Consumers do know that they can make payments through their phones, but continued use of existing payment methods—such as credit cards and cash—and the slow retail adoption of modern card readers have caused usage levels to remain stagnant over the last year," says Robert Flynn, managing direc- tor for Accenture Payment Services in North America. However, that doesn't mean you should ignore this arena: Payment apps are very popu- lar among millennials, so if your spa business caters heavily to this younger crowd, you'll want to make sure you're ready to implement. As you can see, this is a complex topic, with many options on the table. Depending on the number of credit card transactions your spa performs, it may make sense to spend some time researching your options. Even saving a small per- centage adds up over the long run: A business processing $400k in credit card transactions per year that can save 1.5% on fees will add $6k to profi ts. And that, we think, is worth paying attention to. Additional Mobile Payment Options • Dwolla ( • Flint (fl • LevelUp ( • zipmark ( Lisa Starr serves as DAYSPA's contributing editor. 3XUFKDVH2Q/LQHDW ZZZVSDUHQLW\FRP RU&DOO7ROO)UHHWRRUGHU 63$ )D[(PDLOVSDUHQLW\#\DKRRFRP Buy Direct & Save! 29(5352'8&76,1&/8',1* VSDGLVSRVDEOHVZD[HVZLSHVWRZHOV JORYHVDSSVWLFNVPDQLSHGLPRUH

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