Hey, welcome back. In this video, we're going to talk about mobile payments and how to use them in your business. So did you know that most people are much more likely to spend money when they use a credit or debit card in the transaction than if they use cash. In some cases, people opt to spin over twice as much when they don't have to immediately fork over the dough. And there have been numerous psychology experiments that support this interesting fact. And actually had a really interesting one McDonald's, or was one of the McDonald's or Burger King had done some market research and they were one of the first people to figure this out.

Because when people started moving over to debit cards, and credit cards instead of cash, they realized that their their sales were going up in the drive thru. And it's mainly because people were just it's so much easier just to hand over a credit card than it is to actually you know, let go of that cash. Okay, so we're not quite sure exactly why that is. I imagine that you know, we put a lot more value in stock in currency and money, then we do just a little piece of plastic. Okay, so that's, in my opinion, probably why this works, and why you can use it to your advantage with mobile payments. But it's actually even more interesting that when people don't have to take time to scan their credit card, and they can instead just wave their mobile phone to pay, they spend even more.

Okay, so this is going to make mobile payments very attractive to store owners, okay. Smartphones today have technology like near field communications, or NFC, go right into them. Okay, people can just wave their phone over a scanner to pay without having to think twice. So if you're wanting to utilize mobile payments, then here's some mobile payment resources that you should definitely take a look at. So Google payment, it's at google.com forward slash payments. If you're a business owner, you can put contactless terminals and your stores that people can pay with their smartphones.

Okay, so really cool. Go check out this link. I'll put it underneath the video. I think Google Wallet. Okay, it's google.com forward slash wallet. If you want to be able to pay with your phone, go here to learn how as well.

Okay, so we got a great tutorial on this check out Google Wallet. And then Apple square. Okay, technically, this is a credit card reader. It attaches to your iPhone. It's not a mobile payment, but it's still pretty cool. Okay, I've seen a lot of cab drivers use this the square it's only 995 and the transaction fees are actually a lot cheaper than credit card rates if you're running your own business, okay, so check out the apple square over at the apple store.apple.com forward slash Salesforce less product, forward slash watch numbers and letters.

Then my cards star.com Okay, this is not a mobile payment service as much as it is a mobile loyalty program service. Okay, so my card star gives consumers the ability to get rid of those annoying loyalty key chain attachments and move them to their mobile phone. Okay, like your like your Ralph's card or Vaughn's card or Kroger card like a grocery store card, you can move it to your mobile phone. for business owners, my card star offers a very cheap way to create a loyalty program for their customers. So loyalty programs are great together purchasing behavior data from customers. Okay, so my card stars Great.

I'll put all these links underneath the video. So if you're interested and maybe using mobile payments in your business or helping another business with their issues when it comes to taking payments and getting cheaper fees and all that, definitely check out these resources. And then in the next video, we're going to talk about GPS marketing. So we'll see you there.