2020 was an unprecedented year for brick and mortar merchants, as the global COVID-19 pandemic saw many businesses forced to close and strict guidelines put in place limiting in-store activities. In turn, consumers flocked online, boosting ecommerce sales by 45% year-over-year and accelerating ecommerce adoption by as much as five years. Consumer habits are like a ratchet – they only go one way – and that means that the same new shopping behaviors consumers developed during 2020’s online rush will likely stay with them long after COVID-19 is a distant memory. Continue reading “Ecommerce in 2021 – 3 Online Business Trends for a Post-COVID World”
A touch screen point-of-sale (POS) system is like a typical POS system, but the software operates on handheld devices and tablets, rather than traditional POS hardware. Touch screen POS systems are web-based and can synchronize in real time to a variety of other software solutions, enabling merchants to monitor their businesses from anywhere in the world. Continue reading “2021 Best Touch Screen POS Systems for Retail Merchants”
Have you ever stamped a card in anticipation of a free coffee? Presented a swipe card to gain points towards your next gallon of gas? Signed up for a payment card offering a percentage of your purchase back? If so, you’re already very familiar with customer loyalty programs.
Loyalty programs represent a great way to generate repeat customers while simultaneously building a long-term brand relationship, and their effectiveness is demonstrated by their sheer ubiquity across all of retail. Today, customers expect loyalty programs, and failure to offer one could result in lost sales to your competitors who are offering those all-important points. Continue reading “Successful Loyalty Model in Merchant Payments”
The global spread of COVID-19 threw the entire globe into chaos, and businesses all over the world suddenly found themselves operating under new, strict rules – if they were allowed to operate at all. That put an enormous strain on the entirety of retail, with few sectors emerging unscathed. But limited access to the businesses they’d always taken for granted, and an increase in public caution and awareness in relation to things like social distancing and sanitation also caused major shifts in the way consumers shop. Those changes are not temporary, and they won’t roll back once business as usual eventually resumes. That makes it extremely important for all merchants to educate themselves on the new realities of the marketplace, and to adapt as necessary to stay current. Doing so has the potential to open up new revenue streams and improve the customer experience, while failure to do so has the potential to drive customers right into the arms of more agile, adaptable competitors better able to meet their new needs. Continue reading “Commerce in a Post-COVID World: Are Contactless Payments the Solution?”
Merchant services providers have a huge role to play in the success of all companies accepting electronic payments, both online and in-store. But, whether you choose to partner with a third-party processor like PayPal or to open up your own personal merchant account through a company like BAMS, it’s important that you understand exactly what your payment processing partners do for your business, what your fees pay for, and how you can ensure you get the best bang for that buck. Continue reading “What Merchant Services Providers Do: How Companies Like BAMS Help Businesses Like Yours Succeed”
Next-day funding is one of the most beneficial services a payment processing partner can offer to your business. The standard funding hold imposed by most merchant services providers can easily eat up two to three days between the time you make a sale and the time that money lands in your bank account. That’s valuable time, and by eliminating it, payment processors that offer next-day funding – like BAMS – make it clear that your company’s financial health is their top priority, even if it means assuming a little more risk on their end. In addition to the reaffirmation of your processing partner’s commitment to your company’s success, next-day funding also offers a number of significant benefits to your business – both tangible and intangible. The following represent just three of those benefits and make it clear why the availability of next-day funding should be an important box to check off whenever you shop for a new merchant services provider.