Using Inefficient Payment Systems Leaves Money On The Table

There are a variety of card payment systems out there, and you can find plenty of merchant service companies out there that can help you process plastic money.  Each one has its own quirks, and each one has its own costs.  However, unless your company of choice has a modern and effective approach, you probably aren’t getting all the business or all the returns you could. 

Plastic Is The Future In Las Vegas, Like It Or Not 

Plastic money, electronic transfers, and smartphone wallets have become increasingly common over the past two decades, and the roots of this trend go back even farther.  It’s hard to argue against the convenience, especially when neither the customer nor the cashier needs to make exact change.  Charging a credit or debit card is also the main way most people pay for things online. 

Because of this trend, it’s getting harder to be a cash-only storefront even if you have an ATM by the front door.  Tourists enjoy the convenience and security of electronic transfers, and if your restaurant takes cash only but the one two doors down can accept smartphone payments, your potential customers may be going over there a little more often.  And if you’re an online business with no card payment option, you may notice that your customers enjoy browsing your catalog more than they like buying from it. 

Your Audience And Your Competition Are Global 

Unless your business is a restaurant or something else that needs to be nearby and in-person, you should keep in mind that you’re not just competing with your neighbors, you’re competing with everyone who sells products like yours online. Your fiercest competition could turn out to be someone on the other coast or even someone overseas in Germany.  With such a wide field of competitors, you need every advantage you can get your hands on, such as accepting foreign currency and meeting foreign regulations so you can widen your customer base. 

Millennial Customers Demand Modern Conveniences 

The Millennial generation is entering its late 20s and 30s, old enough to have established careers and growing families.  That makes them a major consumer demographic, and so the fact that they increasingly prefer plastic and electronic transfers to cash is something store owners need to realize and respond to.  If your customers tend to be old, you might not need to switch merchant service companies to one that handles electronic wallet transfers, but if you want to appeal to a younger crowd then using younger payment methods is essential. 

Merchant Services For Las Vegas

Cash payments aren’t about to vanish anytime soon, but chipped debit cards and smartphone wallets are challenging cash in a way that older credit-card charging and checks never did.  To keep up with today’s consumers, you need a merchant services partner that evolves with the times and can give you all the payment processing methods your customers demand.  You need a partner like Global 1 Wholesale Merchant Services. With our help, you’ll be able to accept money from all your customers no matter which new payment method they prefer.