[For stores] Thorough explanation of the merits and costs of introducing smartphone payments@

• I’m thinking about introducing smartphone payment, but I don’t know what the introduction cost will be
• I’m thinking about introducing smartphone payment, but I don’t know because there are too many services.

Isn’t there a lot of stores who are worried about it?

In this article, we will introduce the benefits of introducing smartphone payments, the cost of introducing smartphone payments, and the selection points for smartphone payments for stores that are considering introducing smartphone payments .

What is smartphone payment?

“Smartphone payment” is a method of paying using a dedicated app installed on a smartphone instead of paying cash at the cash register .

In Japan, the smartphone payment service started around 2012, but since 2018 PayPay and LINE Pay have started cashback campaigns worth tens of billions of yen, so user recognition has expanded at once.

Types of smartphone payment

Contactless payment (Suica, Edy, QUICPay, etc.)

It is a method of paying by holding the smartphone over the cash register using the wireless communication technology installed in the smartphone.

QR code payment (PayPay, LINE Pay, Merpay, etc.)

“QR code payment” is a method of having the QR code installed at the store read, or reading the QR code displayed on the smartphone with the payment terminal at the store.

In addition, since dedicated equipment is not required, equipment costs can be reduced.

[For stores] Advantages of introducing smartphone payment

low fees

The payment fee varies depending on each smartphone payment service, but it is roughly 3.24% to 3.74% per payment.
On the other hand, credit card fees are 3.6% to 5% for corporations and 4% to 7% for restaurants (individually managed), so smartphone payments can reduce costs.

You can cut the work time

It is said that it takes an average of 25 minutes to close each cash register.

In the case of cash handling, it is necessary to check whether there is a mistake in the amount.

However, in the case of smartphone payments, there is no need to check whether there is a mistake in the amount, confirm the received money, or give change, so it can cut down on the work and reduce labor costs .

Effective against infection with the new coronavirus

Due to the spread of the new coronavirus infection, countermeasures against infection at stores are attracting attention, but smartphone payments are known as one of the effective countermeasures.

Cash payments have a relatively high risk of infection because they come into contact with people when giving and receiving money, but smartphone payments can prevent infection because the payment is completed without touching anyone .

[For stores] Selection points for smartphone payment

Type of payment (contactless payment, QR code payment)

There are surprisingly many cases where people tried to introduce smartphone payment, but it did not support the payment method they wanted.

Therefore, choose a smartphone payment service that supports the payment method you want, such as “I need this brand of credit card” or “I want to support this electronic money” .

Compatible models

Not all smartphones and tablets are compatible with smartphone payments.
The devices recommended by smartphone payment providers differ, so be sure to check in advance .

deposit cycle

The cycle from completion of smartphone payment to payment at the store is also important.

Smartphone payment is known for its relatively quick payment cycle (as early as the next day), but it may take up to a month depending on the smartphone payment provider.

Please note that some of the services that are deposited the next day may require a transfer fee or specify the transfer destination financial institution .

Introduction cost of smartphone payment

what to prepare

• Smartphone/tablet terminal (provided at the store)
• Internet environment
• Payment terminal (purchased from a smartphone payment service provider)
• Depending on the smartphone payment operator, it may be available for free in the campaign
• Receipt printer (if needed)

Introduction cost

• Initial cost
• Purchase price of smartphone/tablet device (from tens of thousands of yen)
• Payment terminal purchase price (from about 20,000 yen) *May be free during campaigns
• Maintenance cost
• Internet communication fee (from about 3000 yen per month)
• Settlement fee (from 3.24% of the settlement amount)
• Transfer fee (depending on the payment company)

4 QR code type smartphone payments

AirPay

It is a smartphone payment service with the lowest level of fees, transfer fees, and monthly fixed costs of 0 yen regardless of industry.
All payment methods can be handled with a single card reader, simplifying the cash register.

feature

• Settlement fee rate is 3.24% or 3.74% regardless of store size or industry
• One card reader for all payment methods
• Transfer fee is 0 yen at all banks

price

• Monthly fixed cost, transfer fee is 0 yen
• Settlement fee rate is 3.24% or 3.74%
• See HP for details

PayPay

The industry’s No. 1 smartphone payment service with over 30 million registered users.
24 hours a day, 365 days a year, you can use it safely with generous support that can be consulted by phone.

feature

• QR payment usage rate is No. 1, leading to increased customer attraction
• Just by placing a QR code, you can greatly reduce the time for accounting
• Can be installed with a smartphone or computer

price

Initial introduction fee 0 yen, payment system usage fee 0 yen, deposit fee 0 yen

Pring

A smartphone payment service that offers the lowest fees in the industry.
With Mizuho Bank, the proceeds are automatically deposited on the next business day.

feature

• Proceeds will be automatically deposited on the next business day (if you specify a Mizuho Bank account)
• The fee is much lower because the payment is directly linked to the bank account.

price

Initial cost 0 yen, monthly cost 0 yen, transfer fee 0 yen

d payment

It is a smartphone payment service that not only improves the convenience of payments, but also contributes to attracting customers.
Until March 31, 2021, we are running a campaign where the merchant fee of 2.6% is virtually free.

feature

• DoCoMo and Mercari customers come to the store through d payment and Merpay, increasing customer attraction and recognition
• Increased sales because customers who want to use Docomo d points and Mercari sales come to the store

price

Until March 31, 2021, there is a campaign where the merchant fee of 2.6% is virtually free
*See website for details

Contactless smartphone payment service introduction

Google Pay

It is a smartphone payment service that allows smart brand building with tools developed to approach customers more efficiently.
Since smartphone payments can be started in just a few days, it is recommended for stores that want to introduce smartphone payments as soon as possible.

feature

• Risk of fraud is minimized as each transaction contains only the minimum amount of information necessary
• Set up the Google Pay API and receive payments within a week
• Use location information to deliver coupons and deals to customers

price

Completely free to use (no fees for both stores and users)

summary

This time, we have explained a wide range of advantages of introducing smartphone payments, introduction of smartphone payment services, and selection points for smartphone payments.

Let’s introduce smartphone payment and realize both the infection control of the new coronavirus and the ability to attract customers.