Many business owners are notoriously pushed for time, often taking on a multitude of tasks and duties. Dependant on size, this can include running the marketing department, organising logistics, and ensuring the best customer service is being delivered, all at the same time. Unsurprisingly, with so many different facets of a company to be managing, payments processing is not always at the forefront of merchants’ minds. But the fact is it should be, as optimising payments is an essential component in many aspects of the business journey and it should not be overlooked.
By optimising payments, you have the power to create a profoundly positive effect on the user experience (UX), transaction conversion, and provide merchants with crucial data to improve their operations. What’s more it can also enable merchants to monitor their costs efficiently, if they work with the most competitive acquirer for each payment method used by consumers.
Ignoring payments optimisation risks not only alienating and losing customers but also inefficient management of their costs by missing important savings on acquiring fees.
Transit systems across the globe are having to adapt and embrace a new normal. Previously, a physical ticket would have been purchased using cash from a manned kiosk but nowadays, it is a very different story. Technological advancements, alongside open payments, have unlocked new possibilities across multiple industries. Furthermore, travellers are expecting more as part of their basic service.
The move towards a cashless society is quickly gathering pace. Cards and alternative payment methods (APMs) are now the norm, and the ways in which these changes are affecting transit systems are far reaching. With that said, I’ll explore the payment trends, the key benefits of these developments and what travel operators need to know.
With online shopping and deliveries making the retail experience more convenient, consumers are becoming increasingly happy to shop cross-border. Essentially, there are less barriers to them doing so, and being able to spread their search across countries means that they have a wider range of options when it comes to their purchases.
This is good news for retailers, because it means that their customer base is no longer restricted to one area. They may find that customers are more frequently ordering overseas, meaning that their products are reaching more people and creating a demand across the globe.
However, while cross-border purchases can present a whole host of opportunities for retailers, many don’t know how to cash in on these as they don’t have the right systems in place to process payments from far and wide. What’s more, cross-border payments can present a lot of new costs and overheads which can make businesses unsure if cross-border payments are an opportunity worth pursuing.
So, here are a few ways to make sure you’re making the most of cross-border opportunities.
“We are at the brink of massive digital acceleration” says Damien Perillat, our new head of the Global Online division of Ingenico since April of this year.
Bringing fresh insight and a wealth of payments experience, we spoke with Damien to learn more about his new role and the rapid changes in the global economy and payments landscape.
It was back in March that restaurants and bars were ordered to shut by the UK government to help halt the spread of coronavirus. However, after weeks of shut doors and takeaway orders, hospitality venues are now due to reopen to customers in July, providing they can enforce social distancing measures and keep their customers and staff safe.
Keeping customers safe from an invisible virus requires both staff and customers to take a considerable amount of extra care during service. And even after ensuring there’s plenty of space between customers, and staff are following the appropriate hygiene procedures, there’s still measures hospitality venues can take to ensure optimal cleanliness and maintain the positive customer experience.
In this article, we take a closer look at three key elements of authorization for digital goods and services companies. Read on to discover targeted actions that you can take to optimize your acquiring set-up, helping boost conversion and generate more revenue for your business.