At first glance, Amazon’s entrance into the U.S. telecom market doesn't make sense. There are already more cellphones than people. And 65 percent of Americans currently have a smartphone in their pocket.
EMV credit cards have become the global standard in nearly every major market except the United States. But even this will change as 2015 liability regulations place greater pressure on merchants that have yet to embrace EMVs. If and when fraudulent activity occurs, non-EMV businesses will have to cover losses out-of-pocket.
Every few months, another article comes out celebrating the "death" of the paper check. Paper check writing is definitely on the decline. In 2000, Americans wrote more than 37 billion paper checks. And just 10 years later, the number fell to 18.3 billion.
But 18.3 billion of anything is hardly a mortal wound. And experts predict that the paper check writing tradition won't completely die out until 2026.
When credit cards were first introduced, only the largest and most successful companies could afford to open merchant accounts.
Thanks to the rise of e-commerce and mobile credit card processing, any business can now accept virtual payments — regardless of industry or size. What once was a competitive advantage has quickly evolved into an absolute business necessity.
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.
Whether you’re a busy solopreneur, a boutique shop owner, or an event planner with employees who depend on you, accounting software is a powerful tool in your small business toolbox. But if you’re like many cash-strapped small businesses, maybe you’ve decided to skimp on software.
Credit card processing for small business has gone from being a “nice to have” service to something essential. In today’s marketplace, convenience is king. Offering a full range of payment options can make the difference between a sale and a lost opportunity, between building business with an existing customer and having your business leave for a competitor.