Merchants Are Wising Up to Smart Payment Solutions

Apr 25, 2019

When it comes to paying for goods and services, customers expect safety, security, and convenience no matter what type of device these use.

Some merchants have heard consumers’ calls and demands, and have taken action. For example, the Mercedes-Benz Stadium, home of the NFL’s Atlanta Falcons and MLS’ Atlanta United, no longer accepts cash for purchases. Instead, they only accept debit and credit cards and mobile payments.

Minimizing security risks, cutting down on the cost of handling cash, and making transaction quicker are what customers demand. The payments industry has paid attention and made moves to deliver a quality customer experience that includes leveraging smart devices, including watches.

Customers Want a Good User-Friendly Experience

Now more than ever, customers expect more technology to be a part of their everyday shopping experiences. This is especially important since they find their time incredibly important, and most want merchants to recognize it.

Technology is paramount to them because it streamlines a more efficient and seamless experience. Smart payment solutions play a vital role in providing that seamless checkout experience by allowing customers to pay with their preferred method of payment, such as credit cards and mobile payments.

Software firms and device manufacturers continue to partner with payment providers to ensure frictionless transactions whenever consumers buy items, services, or subscribe to something.

How Does This Impact the Payments Industry?

As smart solutions increase, merchants are paying close attention to technology and they are recognized the importance of the experience.

The payments sector plays a vital role by supplying the infrastructure that offers payment options that customers crave. This is very important since the number of connected devices, including smartphones, smart watches, and refrigerators, continues to grow at a rapid pace.

While there are some misconceptions when it comes to smart payment solutions, they are as secure as more conventional payments.

Most find that contactless cards are a starting point to mobile wallets that also provide an experience that reflects the use of credit or debit cards. The payments industry can help in eliminating some of the uncertainty concerning the issues by showing that the uptake in security makes smart payment solutions safe.

Understanding How Partner Channels Impact the Experience

The shift of consolidation in the payments sector shows that the move towards offering solutions that will help trigger an engaged experience that customers are beginning to demand.

Due to the consolidation shift, sales representatives will be better equipped with complete solutions that they can offer to merchants in many sectors.As sales partners continue to search for benefits in the market, smart payment solutions will offer a more seamless experience that impacts merchants and consumers.

Developments in payment methods make it simpler for customers to pay for products and services. Merchants that want to trigger customer loyalty and provide value will integrate services that improve the customer experience through technology implementation that meets consumers’ demands.

Apply Online for Merchant Account Services

As customers demand a cashless society, merchants need to give them what they want. If you are a business in need of a merchant account or credit card processing, then contact eMerchantBroker.com. It offers payment solutions for all types of companies, including those classified as high risk.

EMB offers a simple online application process. Eligible applicants get approved in just a few days. Apply online today, and start processing debit and credit card transactions.

Let us help you get a high risk merchant account today!

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending on the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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