Your payment processing is more than having a system to accept payments from customers. Depending on what you have and how you manage it, you may be limiting your own profit potential. Now is the time to look at your payment strategy to find ways to enhance your business and your growth potential.
The current pandemic has hit businesses hard. It presents a challenge perhaps unlike any you have seen since opening your doors. Finding ways to navigate this world might make the difference between thriving and closing your doors.
For years, Canada has been moving closer to becoming a cashless society. Contactless payments are increasing dramatically and have almost caught up to cash. Now, during the COVID-19 pandemic, it's important to understand how contactless payment options, be it digital or cashless, will help keep the virus at bay.
Millennials have received tremendous focus in marketing studies because they are emerging as a powerful purchasing force. As a result, articles abound that describe their habits. If you own or run a business, these studies should help push you toward a focus on newer payment technologies. For Canadian millennials, this means a focus on mobile, contactless payments.
If you do not have a central system to generate and manage the leads you get, you may be letting growth opportunities slip away. An effective lead generation and management system can help you better track and develop your sales, giving you the chance to grow efficiently and effectively.
In many parts of the world today, cash payments are becoming the exception rather than the norm. Most people think of Sweden as leading the charge toward a cashless society, but according to a recent survey, Canada sits today as the most cashless country. There are many reasons for this, but ultimately it points toward leadership in a broader trend among developed countries.
Processing electronic payments for your customers opens greater opportunities for your business. If you are just taking payments in a non-integrated system, though, you are voluntarily making your life harder. Integrated payments help your business run more efficiently, both in every transaction and from a broader perspective. Set up integrated payment processing to lift your business to the next level.
Studies have identified Canada as the world's leading cashless society. Most Canadians have credit cards, but they are pushing beyond to adopt new technologies and grow their digital payments footprint. Today's businesses operating in Canada must stay on top of this trend and prepare to accept more forms of digital payments.
Accepting card and online payments is critical to your business, but you need to integrate your systems so you can process payments better. Integrating your payment processing with your POS system helps both your customer service and your own sales.