Your business is increasing and so you need to make room for growth. Using the right merchant processors with your organization can help make your company stand out from the pack. While a number of merchant services are already jostling for supremacy in the market, still, some businesses benefit greatly from a few of them and thus their role must be commended.
Merchant processors have the job of seeing to it that payments made by credit or debit card users must be handled efficiently, whether it is front end or back end. While credit card fraud is still on the increase, having a processor covering your business will help keep your organization safe.
So far, in the U.S., credit card fraud has grown in losses to $5.3 billion in 2012 alone, the Nilson report stated. To lower credit card frauds, the U.S. recently announced a chip system card and this new card are already being sent to some customers. JPMorgan Chase (JPM, Financial), for example, recently announced that they are sending the new chip cards to customers throughout 2015.
Meanwhile, to facilitate their customers, Bank of America (BAC, Financial) opted to put into play the American Express (AXP, Financial) OptBlue program, which gives small business an advantage to have simpler sign-up and management techniques. Only customers that process less than $1 million per year can sign up for this program.
Credit and debit card processing is not a thing of the past but for the future as more shoppers are turning to spontaneous shopping through purchasing power given to them by card companies. To find out more please visit here.
Coinzone, which is a bitcoin payment processor has in the meantime expanded its market into Polish regions and is now working with businesses in Poland that deals in bitcoins. In addition, the company is now working with businesses in Czech Republic and places in Europe to help sure up the bitcoin market. By spreading its wings into these nations, Coinzone is ensuring that freelancers, businesses, and online merchants as well as others, enjoy their share of the bitcoin market, which is getting ready to take off soon.
In 2014, the payment processing industry scored huge home runs and since then it has grown in 2015. Tech giants like Amazon (AMZN, Financial) and Apple (AAPL, Financial) made outstanding contributions to the growth of the industry by introducing new products to the market. Stripe and ShopKeep although new kids on the block showed strong competition against long time companies VeriFone and PayPal.
IbisWorld reports that over the past five years and into 2015, the merchant processing industry has seen large-scale growth because of new technology devices being introduced. The electronic cash ratio has increased exponentially and this growth is expected to continue into later years.
Since merchant processors activities in the market are growing, business revenues are expected to increase. Sales are expecting to drive upward because of easier purchasing power given to consumers.
The location is playing a major role in the credit card processing and transfer of money happening in the U.S. The U.S.’s western region accounts for a whopping 22.1% share industry in the market and has its largest market, California, which is accounting for 17.3% of businesses taking place in its metropolitan areas. The southeast region of the U.S. holds second place.
Can the merchant processing industry continue to grow in a competitive environment? The answer is yes since technology is growing rapidly and most persons are turning to online shopping, which allow them to use credit and debit card transactions options.
