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 […]
Experiencing payment reversals can be extremely frustrating for a business owner. Receiving payments for goods and services is the end goal of every commercial enterprise. Having those payments reversed can thus create a host of problems. The reduction in revenue is but one. Check this out to learn more about payment processor online! In this […]
The phrase “disputed transaction” is one that no merchant ever wants to hear. Yet this is becoming an increasingly common reality for many eCommerce businesses. By 2023, the average cost of a chargeback for a merchant is forecast to be $190, based on a $90 average transaction value. Unless you can get a firm handle […]
Online shopping is officially in the mainstream. eCommerce spending is on the up globally with sales projected to exceed $5 trillion by the end of 2022. In the US alone, eCommerce sales made up 14.8% of total retail sales in Q3, 2022, as reported by the US Census Bureau. This means the stakes are higher […]
The world may prefer cards, but for many merchants, the fees for accepting them eat into critical profit margins. Sadly, cash use is down year on year, and no credit card transaction is free. In 2021, cash payments accounted for 20% of all transactions, falling 6% from 2019. But it’s not consumers who automatically pay […]
The United States payment processing solutions market continues its increasingly rapid growth. In May 2022, market research firm ReportLinker cited a market size of $90.9 billion for the year. By 2027, the payment processing solutions market is projected to reach $147.4 billion. This represents a 10.1% Compound Annual Growth Rate for the period. These impressive […]
The payments industry’s continued evolution has brought new payment options like payment by text to the global marketplace. SMS or text messages are now utilized worldwide to make payments to different types of small businesses. In 2020, technology services provider Weave conducted a study of 350 small business owners and 380 customers. The company found […]
Growing an online business requires a reliable method of accepting customer payments. PayPal, a global online payments provider, is processing an ever-growing number of transactions. According to market research firm Statista, PayPal amassed a net payments volume of $339 billion in Q2, 2022. This figure represents nine percent year-over-year growth. PayPal is also making its […]
Mobile merchant services are growing at a breakneck pace. These days, paper money is used for only 19% of payments. Mobile merchant payments, on the other hand, nearly doubled in 2021 to reach $66 billion in value and accounted for 21% of all mobile money transactions. Mobile merchant services are a popular form of payment […]
Venmo took the world of peer-to-peer transactions by storm. Now it’s starting to look like Venmo for business is the next big thing for SMBs. Digital wallets are booming in light of the coronavirus outbreak, but Venmo, in particular, has risen to the top. Statista reports that Venmo’s net payment volume was a whopping $37 […]
