Would you prefer to live in a cashless society where all transactions are done electronically, with paper money vanishing completely? During the annual survey from Diary of the Consumer, it was discovered that only 19% of payments in 2020 were done in cash. These numbers are 7% lower than those of the 2019 survey. Without forgetting the pandemic’s impact, we still see an unusual increase in the use of cashless payment methods. Data on different factors gives us more insights.We have to consider how to regulate and execute payments between consumers and merchants. All tools have been already come up! Payment processing providers facilitate this task. POS terminal, website purchasing form, mobile application to confirm paying, etc. — all these modes go with payment processors. The...
Category - Credit Card Processing
Pros and Cons of Choosing the Best Payment Processing Provider
It is almost impossible to overstate how much progress the entire world of commerce has experienced due to the advent of digital and online payments. In this day and age, individuals and businesses can now complete business transactions worth millions of dollars in a matter of minutes. Just twenty years ago, suggesting such a transaction to anyone would practically scare them away, but today, it has more or less become standard practice. Over the past decade, several policies have been made in different countries to regulate physical cash handling, all to promote the culture of digital and online money processing in these regions. Many countries have even gone as far as introducing “e-currencies” to serve as additional legal tender within and outside their borders. This exists...
How to Avoid US Chargebacks: 10 Business Hacks
What are chargebacks from a perspective of American law and business? By this concept, we mean such a form of consumer protection in which a monetary...
Business Insights of Payment Processing Market Trends
Different trends continue to shape the future of industries globally, and how the key market players utilize these trends will influence the...
All You Need to Know about Setting up Online Payments
Maintaining an online customer base requires a solid and reliable payment system for both parties. Sometimes it’s painful to see businesses’...
Payment Processing for Online And In-Store Businesses
We got used to in-store payment, but nowadays, we have a trend about online paying that is becoming more popular and efficient. Every online...
Difference Between Merchant Services and Payment Processing?
Merchant service and payment processing are two of the most important aspects of any business. However, many entrepreneurs do not know the difference...