HOW ACCEPTING MOBILE PAYMENTS WILL

TRANSFORM YOUR SMALL BUSINESS

How Accepting Mobile Payments
Will Transform Your Small Business
Table of Contents

01 INTRO
02 #1
MOBILE PAYMENTS ARE THE FUTURE

06 #2
USE WHAT YOU LEARN TO CHANGE YOUR BUSINESS

08 #3
BOOST THE BOTTOM LINE

11 CONCLUSION
 How Accepting Mobile Payments
Will Transform Your Small Business

INTRO

ANALYSTS PREDICT THAT MOBILE PAYMENT Our new eBook shows you how mobile payment trends and
technologies are changing, how they can optimize workflows and
TRANSACTIONS WILL REACH $721 BILLION change your small business model, and how it can all benefit your
BY 2017, WITH 450 MILLION USERS WORLDWIDE. bottom line.

Currently only about 13 percent of small businesses are
accepting mobile payments, but the SMBs that do use mobile
payments most intensively see revenues grow up to two times
faster and add jobs up to eight times faster than their peers.
Why you should burn your paperwork,
switch to mobile apps, and boost your business
You may already know how much easier it is to use apps instead
of paper. Apps let you streamline operations; ensure accuracy in
work orders, invoices, and reports; and share information in real
time. Mobile apps let you dispatch techs to the right job site and

$721 BIL + eliminate the need to carry around bulky binders filled with paper.
They let multiple stakeholders collaborate on the same document

450 MIL
(which is much better than emailing different versions of a
TRANSACTIONS
document around!), and they make it simple to organize your
BY 2017 records in the back office.
USERS

© 2017 GoCanvas, Inc. All Rights Reserved. GoCanvas.com

01
 How Accepting Mobile Payments
Will Transform Your Small Business
#1
MOBILE PAYMENTS
ARE THE FUTURE
Research shows that 75 percent of all retailers see payments
as part of their broader business strategy. And as older payment
methods become more expensive, less secure, and less capable
of introducing new options for customers, mobile payments hold
the potential to transform the way we do business.
After all, mobile payments speed up transactions, deepen
customer loyalty, and create new engagement mechanisms
(more on that later).
Forrester Research predicts that, by the end of 2017, U.S. mobile
users will spend 48 percent more via mobile payments than they
did in 2012, according to an article in Forbes. Every business,
whether it’s as big as Starbucks or Apple, or as small as a one-
person shop, needs to be thinking about mobile payments and
incorporating mobile into their broader business strategy.
© 2017 GoCanvas, Inc. All Rights Reserved.
Here’s another way to look at it. The Blackhawk Network surveyed
1,000 Americans to ask what payment technologies they’d used
at least once in the past year. While 93 percent said cash and 68
percent said checks, mobile payments are growing in popularity:
Most of those surveyed said they were using mobile a lot more
than a year ago. More importantly, more than a third said checks
were the least convenient payment method. So even if you’re not
thinking about ways to make payments more convenient for your
customers, rest assured your competitors are.
By the end of 2017, U.S. mobile users
will spend 48 percent more via mobile
payments than they did in 2012.
GoCanvas.com
02
 How Accepting Mobile Payments
Will Transform Your Small Business

#1
MOBILE PAYMENTS
ARE THE FUTURE

Choose the right partner

PAYPAL IS A SMART PARTNER
Adding mobile payment acceptance with the right partner is easy, FOR YOUR BUSINESS.
and can yield big rewards almost immediately.
On average, businesses using PayPal see:
Plus, starting in October 2015, mobile payment with the right
partner limits liability. With major credit card companies moving
to more secure chip (“EMV”) cards, a “liability shift” will occur,
which holds the party with the lesser technology liable for any
fraud. If your company has the technology in place to read chip
29%
INCREASE IN
16%
INCREASE IN TOTAL
cards, you won’t have to worry. TOTAL CUSTOMERS CUSTOMER SPENDING

1.8X 2X
You also — luckily — don’t have to build a payment system
from scratch. Canvas has partnered with PayPal, which has
162 million users and is a leader in the payments industry,
to do that for you. MORE TRANSACTIONS MORE SPENDING
PER CUSTOMER PER CUSTOMER

© 2017 GoCanvas, Inc. All Rights Reserved. GoCanvas.com

03
 How Accepting Mobile Payments
Will Transform Your Small Business

#1
MOBILE PAYMENTS
ARE THE FUTURE

PayPal integrates seamlessly right into your Canvas app and

allows you to accept payments on the spot while completing
your customer’s work order or invoice on your mobile device.
Your customers can use their existing
credit card and swipe it through a
reader that attaches to your phone,
just as they would at a coffee shop,
bookstore, or grocery store — and
you get paid immediately. No more
waiting 30 days (or more) for invoices
to be paid. No more trips to the
bank to deposit checks. And the
new EMV-ready PayPal Chip Card
Reader, available now, helps provide
you with liability protection against
fraudulent charges.
“When PayPal introduced their card
reader for smart phones, it was a godsend.
Prior to PayPal offering their card reader
service, I had been asked many times by
potential clients if I took credit cards as
payment — and telling them no has cost me
business. Now, I am doing more home
inspections by being able to tell clients,
‘Yes, you may pay with a credit card.’”
Charles Randall
Randall Home Inspections
& Bug Masters Pest Control

© 2017 GoCanvas, Inc. All Rights Reserved. GoCanvas.com

04
 How Accepting Mobile Payments
Will Transform Your Small Business

#1
MOBILE PAYMENTS
ARE THE FUTURE

About the EMV liability shift
EMV, or “chip” credit cards, have been in use in Europe for years,
but are only now becoming widespread in the United States.
These cards contain a small computer chip that is more secure
than a traditional magnetic stripe card. (Anyone with a card
skimmer can steal the information from a magnetic stripe card,
but it’s harder to do with a chip card.)
In fact, magnetic stripe cards are so easy to compromise that
even though the U.S. is home to only a quarter of the world’s
credit card transactions, it’s where half of all credit card fraud
occurs. That’s why banks are now issuing chip cards: By late 2015,
there will be 525 million chip cards active in the U.S., according
to a senior Visa executive. And it’s why card issuers and other
financial institutions in the U.S. have mandated that come
October 2015, if credit card fraud occurs, the party with the
lesser technology can be held liable.
That means that if you have a chip card reader but your customer
still has an old magnetic stripe card, that customer’s bank would
be liable for any fraud related to that transaction. And conversely,
if your customers have a chip card but your systems can’t accept it,
your business would be liable for any fraud.
PayPal Here offers a chip card reader that connects to an existing
or new PayPal payments account so that you will be able to accept
both swipe-and-sign cards and EMV “chip” cards in the field.
The card reader also uses Near-Field Communication (“NFC”)
technology, so your customers could even pay with their Apple
Pay-enabled iPhone.
If credit card fraud occurs, the party with
the lesser technology can be held liable.

© 2017 GoCanvas, Inc. All Rights Reserved. GoCanvas.com

05
 How Accepting Mobile Payments
Will Transform Your Small Business

#2
USE WHAT YOU LEARN
TO CHANGE YOUR BUSINESS

On-the-spot payment is about more than just improving safety

for you and your customers and boosting your bottom line.
Accepting credit cards, versus cash or checks, can transform
how your business operates.

Get to know your customers

and streamline internal processes
Sales reports can be created in seconds instead of hours and are
always populated with the most recent data. But more important,
perhaps, is the knowledge you can gain from a mobile, digital
system. You’re much better equipped to track what products and
services you sell — and when — and to gain insights from that data.
By getting a better handle on customer demand, you can keep Accepting credit cards, versus cash
your inventory better stocked, increase product sales, and improve
overall customer service. It’s also much easier to keep track of or checks, can transform how your
which customers are due for follow-up service calls or maintenance,
and to make better-informed decisions on seasonal hiring.
business operates.

© 2017 GoCanvas, Inc. All Rights Reserved. GoCanvas.com

06
 How Accepting Mobile Payments
Will Transform Your Small Business
#2
USE WHAT YOU LEARN
TO CHANGE YOUR BUSINESS
Some retailers even say that mobile payments are a better way
to learn about their customers than a traditional loyalty program.
What specifics you will learn about your customers’ buying
preferences, and how that will benefit your business, will be
different for everyone — but whatever information you glean
will undoubtedly help you sharpen your sales efforts.
© 2017 GoCanvas, Inc. All Rights Reserved.
“Our business has skyrocketed, due in
part to the fact that we use PayPal to run
all of our sales. Selling directly online, no
problem. Taking orders over the phone,
no problem. Selling directly to customers
at a trade show, once again, no problem.
PayPal has been able to keep our sales
growth steady as well as provide great
customer and sales history. Tax season is
going to be a breeze this year!”
Dave Presley
Zap Labeler
GoCanvas.com
07
 How Accepting Mobile Payments
Will Transform Your Small Business

#3
BOOST THE BOTTOM LINE

How taking payment in the field can change your business
One of the biggest worries for small businesses is cash flow.
You may have invoiced for thousands of dollars from multiple
clients, but if you have to pay a supplier and you’re still waiting for
your customers to pay, you’re stuck. Small businesses often have to
float the difference by relying on short-term loans or credit cards,
which can cost you a lot in interest fees and affect your credit
score. Ever been irritated that your customers can take 60 to
90 days to pay but your bills always seem to be due right away?
Scott Henshaw, owner of Pacific Transportation Technologies, a
machine shop in Kirkland, Washington, told The Wall Street Journal
about his experience switching to PayPal Here. He used to send a
net-30 invoice after delivering an order to a customer, but 60- to
90-day payment timeframes have become more common. So now
he asks customers to pay on delivery with PayPal Here, which he
says gets him cash “in fractions of a second.” And if you have a
PayPal merchant debit card, you can spend the money immediately
and get 1 percent cash back on purchases made using the card.

You’re not alone: A 2012 Bank of America survey found that 45

percent of small business owners said “not getting paid on time 45 percent of small business owners said
by clients and customers” was the biggest challenge they faced in
managing cash flow.
“not getting paid on time by clients and
customers” was the biggest challenge
Accepting mobile payments can help you here, too.
they faced in managing cash flow.

© 2017 GoCanvas, Inc. All Rights Reserved. GoCanvas.com

08
 How Accepting Mobile Payments
Will Transform Your Small Business

#3
BOOST THE BOTTOM LINE

Save money and time with mobile payments This positive customer experience doesn’t end when they swipe or
dip their credit card. You can also email a receipt to your customer
Maybe you already accept credit cards — say, by having customers
immediately after they pay, helping them stay organized, and use
read their card number over the phone and then by having a staffer
mobile to keep their purchasing information organized so that you
enter the numbers into a point-of-sale system. Not only is that a lot
don’t miss any follow-up calls or appointments.
of wasted time (“Did you say ‘five’ or ‘nine?’”) and a higher security
risk, but you might be paying too much in processing fees as well.

PayPal charges a flat 2.7 percent fee per swiped card. Brent Brent Davis, general manager of
Davis, general manager of AB Moving in Allen, Texas, says the
company has probably saved $125,000 on credit card processing
AB Moving in Allen, Texas, says the
fees alone since going mobile, and will save another $50,000 company has probably saved $125,000
annually in employee time, since they’ll no longer waste precious
hours matching contracts with receipts and dealing with credit
on credit card processing fees alone
cards over the phone. Says Davis: “I wanted the absolute easiest since going mobile, and will save another
way to enable clicking, paying, and signing to ensure a great
customer experience.” $50,000 annually in employee time.

© 2017 GoCanvas, Inc. All Rights Reserved. GoCanvas.com

09
 How Accepting Mobile Payments
Will Transform Your Small Business

#3
BOOST THE BOTTOM LINE

Earn even more money This can be done in a non-pushy, non-“salesy” way. So if your
employees are good at educating your customers — and if you
Depending on the nature of your business, accepting mobile
have the ability to take payments in a convenient way — you could
payments could actually increase the amount customers spend
end up seeing more revenue per transaction.
with you. Credit cards are thought to increase consumer
spending over cash by 12 to 18 percent, because of how
“seamless” the transaction is compared to taking cash out of
a wallet and counting out bills. Mobile payments should have a Credit cards are thought to increase
similar effect, which would mean boosting average customer
transaction amounts by about a sixth.
consumer spending over cash by
12 to 18 percent, because of how
Once you add the capability to accept mobile payments in
the field, you can consider add-ons that might benefit your “seamless” the transaction is compared
customers. Can you offer a warranty or protection plan, or to taking cash out of a wallet and
have your techs point out a product your customers might not
know about, but which might save them money in the long run? counting out bills.

© 2017 GoCanvas, Inc. All Rights Reserved. GoCanvas.com

10
 How Accepting Mobile Payments
Will Transform Your Small Business

CONCLUSION

Accepting mobile payments is not only good for your small

business’s bottom line and customer engagement, it’s safer for
READY TO GET STARTED?
customers and your company. With the right technology — like
the PayPal Chip Card Reader — you can even protect your Mobile payments are easy to
business from fraud liability. integrate into your Canvas app, and
And it’s not difficult to make the switch to mobile. “In many can transform your business for the
ways,” notes Gene Signorini, vice president of mobile insights
at Mobiquity, “it is easier for small businesses to adopt mobile better. Give it a try here, or sign up
payment programs because they don’t have a large infrastructure
to work through so small businesses can jump right in.”
for your free trial of Canvas here.

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11
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