The embedded payments market is booming. According to Juniper Research, in 2023, it represented $32 billion in transactions, and embedded payments will reach $59 billion by 2027. Unlike integrating a payments platform with your solution, “embedded payments” are designed to reside natively within your software, website, or app, and are often part of a Software as a Service (SaaS) package.
Effective branding is all about communicating your business’s identity. It’s far more than choosing a logo and colors. Basically, it is a catchy and memorable encapsulation of who you are, what you do, who you do it for, and why you do it.
Gift and loyalty card solutions are common for many business owners, but you still may encounter merchants who don’t use them. It is even more likely you have clients using outdated solutions. Educating your merchants on the value of these tools can help them take better care of their customers and grow their bottom line.
Mobile wallet usage in the U.S. is reaching a tipping point. According to Forbes, over half (53%) of Americans use mobile wallet apps more than traditional payment methods. Furthermore, that same survey found that 78% of Gen Z consumers say they would stop shopping at a merchant if they couldn’t use mobile wallet payments there.
Merchants are always looking for ways to control costs and operate more profitably. However, your customers may have reached the point where they must find ways to reduce operating expenses to stay viable. One option that’s gaining some attention is adding credit card surcharges.
Payment security has become a top priority in the retail industry. Merchants made up 24% of all cyberattack victims last year, putting retail in the top five most-targeted industries. Virtually all threat actors — 98% — hope to score some quick cash (or cryptocurrency) from their exploits.
Successful sales partners take this time of year to reflect on performance over the past 12 months and make plans for the next 12. This year-end checklist will help you ensure you cover all the bases to position your company for success in the year ahead.
The payments space has evolved rapidly in the past few years as consumer behaviors shifted toward the digital, forcing merchants to focus on providing competitive customer experiences to adapt. Change will continue into 2024, with these five payment trends at the forefront.
