Mobility Industry Payment Solutions Trends

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The mobility industry needs a game-changer now more than ever and a great place to start would be to take online payments on your website.

The Mobility Industry Runs Out of Gas

Perhaps the laziest (and, therefore, most common) form of personal mobility used to be owning a car. You see, owning one has many advantages, no matter how big or small, and that’s what has made them so popular.

Of course, just as anything that goes up must come down, consumers of the mobility industry quickly started picking up certain disadvantages.

For starters, its impact on the environment has become a definite deal-breaker for a growing number of people over the years. Soon enough, a few states stepped in to introduce regulations on emission while also imposing taxes on older cards. A number of European cities also hopped into the bandwagon to all-out, ban diesel vehicles from their roads!

It goes without saying that all of these taxes and regulations make consumers look for a better alternative to car ownership. If you disagree with what you’re reading, perhaps the following will help prove that dawn is upon the mobility industry:

EU Car Sales Statistics

  • 2010: -5.6%
  • 2011: -1.6%
  • 2012: -8.2%
  • 2013: -1.4%
  • 2014: +5.6%
  • 2015: +6.8%
  • 2017: +3.4%
  • 2018: +0.2%
  • 2019: +1.2%
  • 2020: -25% (Record Low)

How Covid-19 Influenced the Industry

In the months that COVID-19 swept all over the globe, it didn’t just jeopardize countless lives but also set off a global economic slump. Although customers concentrate on health, businesses suffer from the danger of an infection that is looming among their workers.

Among the industries that were impacted most is the mobility sector since their target market is largely favoring those modes of transportation that are considered hygienic and safe, for example, private cars and ride-sharing.

Trends That Define the New Norm

  • A majority of consumers prefer health, reliability and safety.
  • The future of the industry is at the mercy of policymakers
  • Regional economic differences have shifted the market to a hyperlocal market
  • Economies of scale are currently the only silver lining
  • Merchant accounts and online payment gateways are a necessity
  • Innovation can prepare the industry for the future

With mass layoffs in the backdrop, public transportation was seen down by 70% to 90% in some of the largest cities in the world. Car sales, on the other hand, are also dropping because most buyers do not want brands for prestige and are more worried about the environment instead.

As a result, the most appealing alternatives in the mobility industry currently are those that are both inexpensive and offer greater convenience. In contrast, the mobility industry has great solutions in the pipeline such as driverless cars and 5G, and when put together, the grass does seem greener on the other side of these trying times.

However, one factor the mobility industry may be overlooking is how consumers can make payments. In the wake of the pandemic, a majority of customers have begun to favor companies that support online purchases or those that provide multiple payment gateways for their goods or services.

These payment gateways can’t be delayed either because the mobility industry has already taken a huge leap to cashless payments because they are convenient, simple and safe. It’s safe to say that if you take online payments on your website, you cater to the new norm of customer experience.

Payment Options That Are Perfect for Mobility

Since cash is not a suitable option anymore and receiving payments needs to be streamlined now more than ever, perhaps the most convenient option at your disposal are:

●     Payment By Link and Invoice

If you are a part of the mobility industry, it is high time that you start sending invoices to customers in the form of links via email or any other form of personalized massage. When your customers access these links, they will be redirected to a payment page where they can proceed by inserting their Mastercard or Visa credentials.

Once the transaction has been made, DECTA’s Payment Gateway will provide confirmation for successful payment and you can move right to delivering goods and/or services to build long-term relationships with consumers.

Click here to learn more about the payment gateway for your website.

●     Recurring Payments

Similarly, businesses offer recurring payments to their consumers when they are satisfied with their products and services and don’t mind getting charged repeatedly based on a recurring schedule.

By establishing your own merchant account with DECTA, you can maximize long-term revenue streams and promise your customers a truly worry-free life during these trying times. In doing so, you can eliminate the hassles of manual monthly payments and therefore streamline transactions while you focus on making the best of your competitive advantage.

It’s quite simple:

  • Your 2-step transaction merchant accounts will step-in as a deposit for customers
  • Just the amount of the actual cost of your service will be captured
  • Automate infinite transactions while focusing on other business operations

 

Submitted by DECTA

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