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.
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Canada, like much of the rest of the world, is moving toward a cashless society. And Canadians expect these electronic transactions to make their lives easier, more secure and rewarding.
When it comes to B2B payment processing, the interchange and processing costs you pay are determined by how your business is classified by credit card associations. Here’s what you should know about Level 2 and Level 3 payment processing.