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 […]
The American credit card industry plays a key role in the country’s economic growth. Retail purchases made by cardholders, restaurant meals, and eCommerce transactions generate millions of dollars in revenue daily. According to IBIS World, the credit card-issuing industry has a market size of $164.3 billion. This is projected to grow by 3.4% during 2022. […]
If your small business processes credit card payments, you’ve already crossed paths with a merchant agreement. A merchant agreement is simply the contract between you (the merchant) and your merchant services provider. It’s the document you sign before your business starts processing credit card and debit card payments. So, why do you need to know […]
You already know that merchant payment processing comprises a large portion of your business expenses. Whether your customer uses a credit card or debit card to process payments, your payment processing company is the middleman. Payment processors interface between your customer’s issuing bank and your merchant bank, the acquirer, to transfer funds for your purchase. […]
Why is customer loyalty important to you? Repeat customers are proof that your business is a success. A satisfied customer, however, does not necessarily mean a repeat customer. The fact is that if you do not put your focus on how you can improve customer loyalty, you can lose a lot of your loyal customer […]
Running a small business means you have to be extremely careful about every dollar and cent you put out. Trying to drum up initial business can be a challenge while keeping costs down, but here are five tips to save money as a small business without interfering with the quality your business provides: 1. Use […]
Letting customers pay for goods on their own terms can significantly bolster sales. This is particularly important for small business owners as every single sale makes a big difference. 85% of consumers have abandoned an online purchase because they didn’t have the option to pay in their preferred fashion. So, as you can see, it’s […]
Merchant banking is the small business owner’s answer to the investment banks used by large corporations. We’ll break down the differences between merchant banks and investment banks in a moment. But, before we do, you need to know that merchant banks are a rapidly growing financial service for small businesses. The market size of the […]
While starting a business is difficult, growing it into a success is even harder. Naturally, business mistakes are bound to be made along the way. While this should be expected, making the same mistakes over and over can lead to failure. In almost any business, there are common mistakes made by many owners. To stay […]
The United States’ credit card industry continues to show steady growth. In April 2022, Insider Intelligence reported that in-store credit card payments are expected to reach almost $2.336 trillion in 2022. eCommerce sales are projected to propel online transaction volumes to more than $500 billion during the same year. A business’s merchant services provider (or […]
