International payments or cross-border payments are important for businesses of all size. In 2019, 37% of small businesses in the U.S. processed payments internationally, and 12% of them used bank account transfers to complete this type of payment. Small businesses are also using more cards. Let’s discover more about the topic and find a respectable payment processor in the country.
International Payments for Small Businesses in the U.S.
When small and medium-sized enterprises (SMEs) face the impact of currency fluctuations, they need to maximize the use of their cash flow. You as a merchant must be well aware of the fact that trading becomes increasingly cross-border. This means you can’t ignore the importance of fast and simple solutions associated with payment processing.
Did you know that SMEs accounted for 99% of U.S. businesses as of September 2020, and that business credit/debit cards represented the most dominant payment processing options? This once again highlights the importance of offering the right payment processing services to your customers so you can gain more instead of losing sales.
Modern consumers live in the world of instant gratification. They need more convenience and speed to complete transactions. Moreover, today’s customers are looking for frictionless purchasing experiences. To be able to grow successfully and enlarge your customer base, you should get down to finding a true payment expert like eMerchantBroker.com to work with.
With EMB, tabbed as the top high risk credit card processor in the U.S. and classified as an A+ company by the BBB, you can easily and securely process international payments from around the globe and in different currencies.
Cross-Border & Card Payments for Small Businesses
Crises like the one caused by COVID-19 are especially harmful to small businesses. State-required shutdowns and social distancing force people switch to online channels for making purchases and not only.
As a result, many small businesses, especially those that don’t have an online presence, appear in a situation where they can hardly make ends meet. That’s where card payments and cross-border payment processing solutions step in. This is how small businesses can overcome such challenges.
So, the small business market in the U.S. is vast. International payment processing and card payments play a vital role in the growth of small businesses.