Merchant Resources

Within a matter of a few weeks, the global pandemic brought about numerous changes that drastically affected businesses of all sizes. Customer traffic lagged or died altogether, and many companies had no choice but to make sweeping health and safety modifications, many of which proved costly. As if all of this were not enough, did you know that there is also a coin shortage in this country and that it could have an equally huge impact on your company in the long run?

It was John F. Kennedy who noted that when written in Chinese, the word “crisis” is made up of two characters, one representing danger and the other opportunity. The COVID-19 pandemic has illustrated this dichotomy for companies of all sizes as they struggle to remain solvent and competitive during these turbulent times. One of the most visible pivots that companies have implemented as a result of the coronavirus has been their embracing of technological innovations.

The rule of thumb in 2020 seems to be this: Whatever “normal” used to be, it has either been changed (or canceled altogether) in light of the global pandemic. Shopping for the holidays is no exception. However, taking the precautionary steps outlined below can help you buy the gifts you want to give, without jeopardizing your health.

Even at the best of times, succeeding in the restaurant business is extremely difficult. Now that we are in the midst of a worldwide pandemic, many eateries have been forced to close their doors. Meanwhile, those lucky enough to continue serving customers are using so-called “contactless” payment methods. Understanding exactly what this entails can help you to decide whether you can implement similar programs in your own eatery.

Without a doubt, 2020 has been a year for the record books. As if historic elections, devastating wildfires, and murder hornets were not enough, along came a global pandemic that caused fear and isolation and hit businesses of all kinds directly in the pocketbook. If you're running a business during these challenging times, you need to take action to ensure that your endeavor remains solvent and relevant for the long haul.

Virtually overnight, the coronavirus (COVID-19) changed life as we know it, with both consumers and business owners thrown into a “new normal” that turned everything about the way they socialized, dined, and transacted product purchases upside down. If you are a merchant who is attempting to remain afloat during these unprecedented conditions, you’re probably trying to think of new ways to accept credit card payments from your customers, while maintaining social distancing, and complying with other health regulations. Once again it’s technology to the rescue.

Gaining in-depth knowledge of the people you serve, details that go beyond simple contact info, is imperative to developing an effective and lasting marketing strategy.

​Wouldn’t it be nice if every customer paid in full on the day of purchase? In a perfect world, that is the gold standard that every business owner would expect. However, this is reality and late payments are an unavoidable part of business. Are early payment discounts a viable solution to this age-old problem?

Achieving a high business credit score is more than a status symbol. It is a tangible sign to lenders and vendors that you are an excellent risk when the time comes to request a loan or choose an insurance plan. During this era of pandemic when stability and credibility are key, invest in your company by learning how to establish and boost that all-important credit score.

You have a compelling product idea, a solid plan, and even some startup capital. You are chomping at the proverbial bit to get your online business off the ground. So, what steps should you take to transform your beautifully conceived idea into a full-fledged success? Let’s dive in.

They say that absence makes the heart grow fonder, but that particular maxim does not necessarily apply to consumers. In an era when ads from your rivals constantly bombard your customers and have the potential to lure them away, you cannot afford to fade into the background. If the pandemic is cramping your style and affecting your interactions with buyers, it’s time to take the control into your own hands to boost your brand recognition.

​Cast your mind back to the days when you were first developing your business plan. At that time, you may have concentrated solely on the viability of the products you wished to sell and the pain points they addressed in your potential customer base. Amid these vital concerns, you may never have considered the importance of choosing the right credit card terminal. It’s a far more critical decision than you might think. Let’s take a look at some of the different types of payment devices that are out there.

Business fraud is more common than many people think and its effects can be profound. Safeguarding your company against takes a multi-pronged human and technological approach, requiring time and cooperation to initiate, implement, and maintain. If you do not have a robust protocol in place, begin taking steps to protect against fraud today.

When you’re running a business, every penny counts. Careful attention to every detail about your payment processing options and security can help to ensure that you are able to protect your profits.