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Instantly Fall in Love with MobilePawn, a Mobile App for Pawn Customers
As a pawnshop, you face many challenges. What features should you offer to keep your shop competitive? How can you improve efficiency so your team can process more transactions? And how can you extend your store hours to reach more customers and boost profits?
If you’re on Buya.com, we’re already helping you be more accessible to your customers. So what’s the next step? ComScore found that in 2017 mobile apps accounted for 57% of digital usage. Maybe you’re thinking an app is not right for you, but consider this: eBay announced that $9.5 billion of their sales in Q2 of 2016 came from mobile. Even more impressive, 57% of all of eBay’s Q2 sales were touched by mobile at some point. This is just one example of the impact mobile customers can have on retail, so the question is why not be a part of it?
Building an app can be a daunting challenge. According to Entrepreneur Magazine, hurdles include finding the right company to develop your app the way you’d like it to function and getting the approval of the app stores, and there can be more. That’s why we’ve created MobilePawn, the first mobile app for pawn customers.
We’ve done all the research and work to create a fully functional, user-friendly, reliable and secure app specifically geared to the pawn industry. Patrons can shop your inventory via the app, helping to instantly extend your store hours. More importantly, they can make loan and layaway payments. MobilePawn will show users a list of their pawns with loan number, a photo of a loan item, number of items on loan, a short description, interest and fees due, and due date. You can give them as much flexibility on how they manage their pawns as you’d like by enabling optional payment features like renewals, extensions, and partial payments. Layaways function in a similar fashion and all payments are processed with PayPal.
So how does this help your bottom line? By increasing the percentage of payments processed and freeing up employees to focus on securing new pawns in-store, rather than handling loan and layaway payments from existing customers. Reduce your forfeiture rate and increase your pawn service charges. It’s also an added convenience for these existing customers by letting them handle these payments from home. With our world becoming more and more digital-centric, being one of the few pawnshops offering an app is sure to set you apart and increase loyalty.
Find more information on MobilePawn here, or check it out in the iOS and Android app stores. We’re here to help get you into the app space once you’re ready!