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Digital Payments: 12 Digital Payment Options to Consider Accepting in Your Business

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In 2019, 77% of US consumers were using at least one type of digital payment system. Between 2019 and 2020, there was an 8% rise in the number of consumers increasing their payment options to two or more types of digital payments. What makes mobile POS systems unique? By the end of 2020, that rose to 78%.

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Tap to Pay: What It Is and How It Works

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In 2015, many merchants switched to NFC-enabled terminals; by 2019, most banks were issuing contactless cards. NFC even enables smart packaging to provide customers with product and usage information at the point of sale. Apple Pay caught up in 2014; in 2015, the wearables market made everyone aware of the tap’s potential.

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What is Click to Pay and How Does It Work?

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The payment system was introduced in 2019 by the major card schemes, including Visa, American Express, Mastercard, and Discover in response to the demand for a more standardized, frictionless, and secure online payments regime. Proprietary systems issued by companies like Apple Pay, Google Wallet, Samsung Wallet, and PayPal.

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What are Merchant Accounts and How Do They Work?

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Types of Merchant Accounts Type Description Ideal for Services Notes Retail Merchant Accounts Process payments in-person at brick-and-mortar stores Retail stores, supermarkets, restaurants, beauty salons POS integration, high-volume processing Fast processing, secure transactions.

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What is B2B Payments Processing and How Do You Implement It?

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Between 2019 and 2020, the number of U.S. Most B2C transactions are performed at the point of sale (POS), whether it’s eCommerce or in-store checkout, which lends them to faster payment methods like mobile payments more often than B2B transactions. What are the Most Common B2B Payment Methods?

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The Complete Guide to Merchant Services for Small Business Owners

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In theory, you could accept third-party payment methods like PayPal, Apple Pay, or Google Pay without merchant services, but this would require individually setting up and integrating each one into your website or point-of-sale setup. POS systems and card readers. POS systems. ACH transactions), and more.