American shoppers love prepaid cards. In 2012, U.S. consumers used prepaid cards to make $99.5 billion in purchases — a 19 percent increase from just the year prior. In 2014, total prepaid spending could exceed $200 billion, or roughly five percent of all retail purchases in the country.
Across the country, mobile credit card processing continues to surge as American consumers and businesses increasingly use smartphones, tablets and other electronic devices to buy and sell what they need.
All across the country, fewer and fewer Americans are carrying cash. And paper-based checks are on the decline, with just $18.3 billion in check payments in 2010, compared to $37.3 billion just 10 years prior.
Cash flow is a common concern for business owners. For many businesses, merchant cash advances are a viable solution to cash flow challenges while you wait sales income to hit your account. Before you apply for a cash advance, it’s important to do your homework.
They say all purchases have an emotional element. And before continuing with the transaction, we justify this emotion with rational reasons.
But impulse purchases are a little different. They, too, are driven by emotion. But any logical justifications are retroactive (long after the transaction has already taken place).
Credit cards lend themselves well to impulse buying. That's because they remove money from the equation. It’s as though you're not spending cash — you’re spending credits (which is why casinos use chips and carnivals rely on tokens).
Credit card processing is already one of the fastest and most reliable payment systems in modern business.
But as convenient as the process is, bottlenecks still exist. Customers have to stand in line to use the one and only terminal at each checkout counter. This means longer waits for them and fewer sales per unit of time for you.
However, using some or all of the tips below, it's possible to speed up credit card processing and make transactions faster and even moreconvenient.
With iPad credit card processing, you can expand your point of sale while still enjoying the face-to-face familiarity of a traditional checkout counter. Accepting credit card payments via tablets offers other advantages, too: