Category: Payment Methods
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Cash Discount Program: Definition, Advantages, and Examples
A cashless society seemingly draws closer as consumers have largely quit carrying cash. To remain a competitive business today, you have to accept credit cards. This fact has benefits and drawbacks. While it’s easier to upsell, thus achieving larger average tickets, the cost of processing debit and credit cards can eat into your margins. The…
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The Future of Digital Payments: New Methods, Technology, and Trends in 2022
The pandemic disrupted the payments industry, shifting the world away from cash and pushing it towards contactless payments. This is an exciting time for the payments industry and the future of global quick, easy, affordable, and reliable payments. In this article, we will discuss our predictions for the future of digital payments in 2022, including…
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Guide to Surcharging: Everything you Need to Know
Surcharging can be a great way for stores to recover costs associated with accepting credit cards, but it’s often not well-understood by customers and can be confusing. Don’t implement surcharging without understanding what it is. As a business owner, there are plenty of decisions that you have to make to run your business seamlessly. Among…
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B2B Payments: The Complete Business Guide for 2022
Customer payments have seen a drastic change over the past few decades. There are now hundreds of ways for a customer to pay businesses for their services or goods. Technology has made the world an easier place for everyone, including payment networks. Paper checks and bank transactions are now less common, replaced by electronic transactions…
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What is an SMS Payment? Utilizing Text to Pay Solutions
Short Messaging Service or SMS is a widely used channel of communication between people on a daily basis. This technology has evolved and can now be used by merchants as a payment solution. This method of payment has been growing in popularity. Now, 35% of customers say they want to pay for their goods or…
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Contactless Payments: The Facts You Need to Know for Your Business
Payment technology evolves rapidly, and innovation in the industry has revolutionized with the inception of contactless payments. Gone are the days of swiping your credit card at retailers, coffee shops, restaurants, and other businesses. Now it seems that touchless payment options have become the standard payment technology of the future. Contactless payments are those processed…
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What is a Virtual Terminal? What You Need to Know
Virtual terminals offer businesses a way to accept credit cards without the need for a physical credit card processor. Instead, virtual terminals operate through software that turns any computer, tablet, or smartphone into a mobile point of sale (mPOS) system. To keep up with the modern market, small businesses are embracing everything the tech industry…
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What is mPOS and How It’s Revolutionizing Payments
If your business operates on the go, you may need something called an mPOS. These mobile point-of-sale systems are gaining popularity among small business owners because of their portability. However, a mobile point of sale can also be redundant for businesses since they can sometimes be just another device to keep track of. Read on…
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What are Recurring Payments? Everything You Need to Know
If you’re looking to expand your payment options or offer a subscription service, you may be considering recurring billing. Subscription and membership business models are on the rise. 15% of online shoppers have signed up for at least one membership or subscription service, and this number is only expected to grow. These already staggering numbers…
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What are Mobile Payments?
As a business, one of the most important ways you can meet the needs of your customers is by offering mobile payments. Doing so is not only good for business, but it can also improve trust and your overall reputation. By using mobile payment systems, you enhance your customers’ experiences in-store, increase checkout speeds, and…