Why all online businesses should accept phone payments

Accepting direct phone payments could potentially double the income of any online business.

phone paymentsThis is evident from the newest mobile phone usage statistics all over the world. More and more people choose portable devices which allow for easier, more flexible and faster browsing. But how is this related to phone payments, exactly?

Coherent & seamless experience is the key

For a mobile customer, a smooth and straightforward experience (conversion funnelling) is extremely important. According to BrightEdge, 69% of users are more likely to buy from companies offering comprehensible and seamless mobile experience.

So, use the best strategy for knowing your customer – think what you’d do in their place.

Imagine yourself looking for a service on your smartphone:

  1. Let’s say that you’ve found a promising website with positive testimonials and great feedback.
  2. You navigate to a page dedicated to the service you want to buy.
  3. Reading about it, you realise that it’s exactly what you were looking for.
  4. You click ‘Buy’.

…only to realise that there’s no way to pay by phone.

True, the site probably accepts bank cards and maybe even some e-wallets. But what if you don’t have your card nearby or can’t use it to pay right away? If it accepted direct phone payments, this service could have saved your day. However, it didn’t.

So, you’ll bounce right off and start looking for an alternative.

Don’t ignore phone payments

You don’t want your online business to repeat the same mistake. You don’t want to lose customers only because you didn’t do your job and failed to provide the easiest possible method of paying on mobile.

Various kinds of online businesses know this already. Thus, they install mobile-first payments for their customers. This includes services like online shopping platforms, housing, car renting sites, phone bill casino sites and media streaming platforms.

By accepting payments by phone bill or secure mobile banking alternatives, they avoid unnecessary downhills on their income graphs.

The use of smartphones is booming, so mobile-friendly tools are crucial for your customers. Need proof? Just take a look at the newest statistics compiled from multiple official sources below.

The usage of mobile devices today

Below you’ll find general statistics about mobile device usage today and specific user behaviour that’s important for online businesses.

General use of smartphones

The UK’s mobile network regulator Ofcom has provided some interesting statistics. Their last year’s report concluded that an average person spent 2 hours 28 minutes on their smartphone.

Looking at the global statistics in 2018, the average time increased to 2 hours and 51 minutes. Thus, the usage of phone devices is only increasing, and rapidly so.

The number of mobile users and the time they spend on smartphones is greater in the most economically developed countries. That’s likely where your business is grounded in, as well. This includes the UK, the US, Canada, China, Brazil and similar countries.

For businesses using social media & email marketing

75% of people in the US use their phones rather than other devices to check their email (according to BankMyCell). So, if you’re using email marketing to promote your services, lacking a phone payment option might hinder 75% of your customers.

The US is the third country according to the popularity of smartphone use. Hence, similar numbers can be expected in other markets. For example, in the UK, 78% of people prefer phones over any other internet device.

If you advertise on social media like Facebook or Instagram, we have similar news for you. Globally, an average person will spend 1 hour 16 minutes on the top 5 social media apps every single day.

In conclusion

Whenever a customer hits your landing page or is called to action on mobile, they’ll expect a mobile payment method. Provide it and you’ll get a conversion. Ignore it and you might earn a negative review on top of losing revenue.

According to all predictions, smartphone use will only increase. So, successful businesses will inevitably have to switch to mobile-first payments sooner or later.