According to Global Market Insights, it was discovered that the global smart card market is anticipated to hit $65 billion by 2025. The smart card, also known as the contactless card, is unequivocally the most accepted form of payment. The outbreak of the pandemic earlier this year has also driven many customers around the world to adopt contactless methods of...
Integrated payables is a system that simplifies the payment process that enables businesses to send all of their vendor payments as a single, “online payment file” to their bank. The bank then processes and allocates the payment as per the instructions given by the business. Integrated Payables Have Benefits So what are the benefits of adopting integrated payments? Having integrated...
An omnichannel retail strategy links all channels in order to provide a “fully-integrated shopping experience”. It also provides a seamless shift across all existing platforms. Another benefit with an omnichannel strategy is that critical customer data and insight derived from several channels are brought together to create a “unified customer profile”. Through this, the merchant is equipped to offer their...
Trade finance is a field within financial services that are still trapped in the outdated use of paper and legacy systems. Leaders within the FinTech industries lament that this lack of innovation is partially to blame for the approximate $1.5 million “trade finance gap” that continues to afflict the market worldwide. As explained by Tsafrir Attar, vice president of Digitization...
Due to the radical change in spending priorities induced by the COVID-19 pandemic, overall e-Commerce spending has soared at a faster rate than ever. Payment gateways play a vital role. A payment gateway that is well-functioning and efficient is the keystone of every transaction. The holidays will definitely put many payment gateways to the test as they will face higher...
Being a high risk merchant does have its challenges, especially when you are trying to secure a payment processor. The reality is that most payment processors don’t want to carry the risk that a high risk business entails. Typically, high risk businesses are more likely to attract chargebacks and fraud. This means that any costs associated with this will likely...
Since the COVID-19 outbreak, many brick and mortar businesses have had to close their doors in order to abide by social distancing restrictions and other state and government-issued lockdowns. As a result, consumers have turned to e-Commerce in droves to purchase their goods and services. Because of this new reality, giving customers a straightforward and uncomplicated shopping experience is key...
Despite the skepticism that surrounds the use of cryptocurrency, more businesses both big and small are embracing this new digital currency and with good results. What many companies have found is that opening up and accepting digital currencies also opens them up to a new, wider consumer base. This is largely because more consumers around the world are considering and...
Many merchants are still in the dark when it comes to the process and what is actually required to obtain a merchant account. And when it comes to finding the right merchant account, business owners will find themselves immersed in new, sometimes confusing jargon used within the payments industry. Another issue that business owners will encounter is that merchant accounts...
As an e-Commerce business, accepting both debit and credit card payments is the lifeblood of modern-day commerce. However, a merchant cannot simply take these payments without the assistance of a payment processor. This payment processor is essentially an intermediary between you, the merchant, the credit card companies, and the banks. When you begin your research, and subsequently your search for...
