Sifting through the noise to find the right payment provider is tough. There’s jargon, marketing spin, and myriad features being touted. But do you really know what you need? It’s not just you feeling like these comparisons are getting harder. The payments industry is changing so rapidly. Undeniably the pandemic accelerated digital payment technology. Small […]
Every day, unsuspecting business owners deposit fake checks only to find out later that they’ve been duped. So, what happens if you unknowingly deposit a fake check? The unfortunate result is that, depending on the situation, you could now be out of pocket and suffer financial losses for your mistake. While checks still make up […]
The more tech advances, the more convenience consumers expect from the vendors they buy from. It wasn’t that long ago that making a purchase online meant leaving the website and going through a tedious checkout process on an external payment gateway. Thanks to a growing number of fintech companies offering embedded payments, businesses can now […]
In today’s digital payments landscape, consumers seek fast, straightforward ways to pay for goods and services. Person-to-person (or P2P) payments are thriving, with major providers including PayPal and Venmo expanding their user bases. In June 2022, financial research firm Lending Tree surveyed almost 1,200 US consumers. According to the survey results, 84% of consumers have […]
As the digital payments industry keeps expanding, brick-and-mortar stores and eCommerce retailers handle countless customer transactions daily. Unfortunately, card fraud and data breaches impact many purchases and data transfers. Per the latest data, debit card, EFT, and ACH fraud grew by 8% in 2021. Although credit card fraud declined by 1% from 2020, it still […]
10% of your business changes every year–whether you like it or not. If you don’t change, thinking that business is just fine the way it is, you’re bound to be left behind as competitors grow and customers continue to demand more and more. Sometimes these changes are big in-your-face trends while others are so subtle […]
In today’s highly competitive marketplace, companies that can generate recurring income from one customer have an advantage over their competitors. After the set-up process, these businesses will enjoy recurring payment income with no additional effort. They won’t have to worry about missed monthly payments from distracted or cash-crunched customers. For perspective, a Mercator Advisory Group […]
Authorization holds are a useful tool in the credit card processing toolbox to ensure sufficient funds are available when you’re ready to process them. For some industries, authorization holds are standard procedure. The hold is placed on a cardholder’s account, and their bank reserves the transaction amount. Cardholders can’t spend the amount of the hold, […]
As the global payments industry continues to grow, global payment revenues are expected to increase by almost 9.5% (year-on-year) in 2022. By 2031, the revenue is projected to reach $3.3 trillion. As such, revolving credit card balances are expected to comprise a large portion of the revenue. To maximize their profits, many merchants rely on […]
When you’re a small business owner, every customer counts. So, it’s important to offer the right payment options to make your customers’ checkout experiences as seamless as possible. A whopping 69.8% of online shopping carts are abandoned. But being an SMB owner doesn’t mean you have to settle for cart abandonment as a cost of […]
