Payscout Inc.

The global mobile payment market was valued at over $600 billion in 2016 but is expected to surpass $4,574 billion by 2023, according to findings published by Allied Market Research. That is a compounded annual growth rate of 33.8%. The Asia-Pacific region accounted for the most revenue in the mobile payment market in 2016,a trend that is likely to continue in coming years. In that same year, the retail industry accounted for nearly one-third of mobile market transactions, but the hospitality and transportation industry exhibited the fastest growth rate. Other industries listed in the report as also benefiting from the rise of mobile payments include healthcare, energy, and utilities. The term “mobile payments” refers to any transaction for a product or service that is made through an app, website, or mobile payment processing system on a smart phone, tablet, or other mobile electronic devices. In most cases, payment information is encrypted for security purposes. ...

No matter the size of your business or the nature of your industry, technology and innovation can streamline your operations, drive growth, and expand your customer base. At one point, a paper invoice or a facsimile receipt kept your business on the cutting edge of modernization. Then operations went digital, allowing customers to engage with merchants online and make purchases from the comfort of their home or office. Today, a majority of customers hold that same technology in the palms of their hands through smartphones and tablets. Your customers want and expect easy, secure mobile payments for the goods and services they regularly purchase. Whether you’re a large chain or a small non profit, a trusted mobile payment processing provider can modernize your mission and connect your customers with a secure point-of-sale payment system that they can control from anywhere. Mobile Point-of-Sale System A secure mobile point-of-sale system from a trusted mobile...

There is risk of fraud inherent to any business, but, fair or not, some occupations and payment methods are considered more vulnerable than others. And it’s not just billion-dollar conglomerates who need to worry about risk. The vast majority of fraud is perpetrated on small- and medium-sized businesses. However, there are simple steps you can take to mitigate or even eliminate that risk. Mobile Payment Made Secure According to market studies, payments made on mobile devices recently reached $75 billion a year. By 2020, they predict that revenue will increase to $503 billion. It’s not really an income source that you want to miss out on due to anxiety about safety. Safer mobile payment practices are very similar to those for traditional credit or debit card transactions. It boils down to due diligence. Ensure that the Wi-Fi network the mobile device is linked to is sound and secure. If the mobile payment isn’t face-to-face, require a CVV code and consider ad...

If you are still using the antiquated system of manually entering, calculating, and creating invoices, your business is losing valuable staff time. You’re also losing money. Enabling automated, online bill payment reduces costs while increasing the probability that you will be paid. Combine your online bill payment portal with accounts receivable collections software , and your business will be streamlined to collect payments quickly and efficiently.  Consumer Focus Giving your consumers an easy way to pay increases your likelihood of being paid. More than half of Americans pay their bills online, and as the younger generations move into adulthood, this number will continue to increase. Offering an online bill payment option is just another customer service feature that many have come to expect in 2018.   Cost Savings It costs your business a significant amount to send invoices. According to Sterling Commerce, “manually-processed invoices cost, on a...

An omni-channel payment solution allows your business to accept multiple payment types in a single processing platform. Online, telephone, over-the-counter, and mobile payment processing are all included in an omni-channel bundle. In addition, most omni-channel systems include invoicing and recurring billing options. This solution allows you to meet consumer needs while putting the control of payment in their hands. If your business accepts more than one payment type, an omni-channel solution is for you. If, for example, you are a boutique that accepts in-person transactions at your brick-and-mortar location, but also allows customers to shop online, then you need a solution that enables you to accept payments both online and over-the-counter.  Online Payments These include completing a transaction via an online shopping cart, a “buy now” button, or an online bill payment portal. Accepting online payments encourages shopping and payment—even when you’re c...

Running a business is hard enough without having to chase down payments for services you’ve already rendered. Paper invoices are often ignored, many without even being opened. While next to no one has the time to write a check, find an envelope, and a stamp---and manage to get all of that into the mail. Don’t spend your time chasing down funds. Instead put that energy into establishing an online payment system, which will save you time and a whole lot of headache. Whether you need international payment processing or a complete omni channel system, there is an option that will cater to your  business needs.  Online processing allows you to accept card-not-present transactions through an Internet-enabled interface or shopping portal. Adding this option for your customers will benefit you through:  Selling Flexibility       With a single, integrated sales system, your business can increase selling flexibility, add or subtrac...

A booth at the farmer’s market is an excellent way to flex your entrepreneurial muscles. With the right planning, you can create a business that flourishes and produces a healthy income. There are definitely a few things to consider before you take the leap, as maintaining a booth is a huge commitment that can involve several months of your time. Do your research, prepare in advance, and keep things speedy with mobile payment processing and you’ll blossom at the market.  Visit the market Deciding to operate a booth at the farmer’s market seems like an excellent idea, especially if you enjoy people. However, it is a great deal of work, so you’ll want to do research before you commit to an entire season. An investigative visit to the market you’re interested in will help you grasp what you’re getting into. Rather than going to the market as a shopper, go and observe as a potential vendor and ask yourself: Will there be a product overlap? Or will your produc...