The Changing Landscape of Business Payments – What SMEs Need to Know

In the course of the last decade, the method with which businesses pay has undergone dramatic changes. The day of cash-only payments is gone far long, and the majority of modern customers demand speedy, convenient, and safe payment solutions at every point of sale. Changes are not an option, they need to keep up with these changes so as to grow and survive as far as small and medium enterprises (SMEs) are concerned.

Increase in the Cashless Transactions

A steady migration towards the use of cashless payments has been witnessed in UK, with most of the retail and hospitality sales being carried out using cards and mobile money. Digital wallets such as Apple Pay and Google Pay have become the norm and customers can now pay in-store without contacts and within seconds, and with a high level of security.

This is Why Payment Flexibility is Important

The generation of modern consumers demands variety. A variety of payments, such as chip & PIN, contactless, mobile wallets and online payments, may create a significant influence on the customer satisfaction and purchase. SMEs can also take the malleable payment option as new revenue channels, like internet shopping or smartphone point of sale during events and pop-ups.

Compliance and Security

As the number of digital transactions rises so does the need of a strong security. Any business confronted with the task of card data must be PCI-DSS (Payment Card Industry Data Security Standards) compliant. Proper systems and processes are a priority in any business owner because non-compliance results in large fines, and mistrust on the part of the customer.

Why IPOSG Payments is the Perfect Fit

The payment world may appear to be very complex but with IPOSG Payments we make it easy. We provide a complete integrated solution of epos and payment tools where it is simple to maintain the sales and handle various payment options through the same system without an additional charge.

IPOSG has everything to keep the modern enterprise in the race with transparent pricing, free EPOS software, lifetime hardware coverage, next-day settlement up to 10 AM, and 24/7 support based in the UK.

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