Payment Processing Services

Payment Processing Services

Payment processing solutions enable a merchant to accept payments with credit cards, whether the consumer is using a plastic card (including EMV chip cards) or other payment options such as contactless payments, digital wallets like Apple Pay or Android Pay, stored value cards, and debit cards.

A payment processing solution will include software that connects the merchant with the payment processor, which may be direct or through a payment gateway, and enables transactions that move money from the card account to the merchant’s account. The payment processing solutions will also include encryption, tokenization and other security solutions to keep card data safe.

Why It Matters to Your Customers

Cash-only businesses have become extremely rare as most merchants realize a significant fraction of their customers will prefer to use payment cards. At a time of growing competition and shrinking margins for many merchants, it’s important to provide customers with every convenience to enhance shopping experiences and build loyalty—and that includes allowing them to use their preferred payment methods. Accepting payment cards can also help increase the average sale, since customers aren’t limited by the amount of cash in their wallets.

Why Payment Processing Services is an Opportunity

Providing payment processing to your customers will result in recurring revenue for your business. Each payment processing vendor’s terms vary, so do your homework on the charges your customers will incur and the margin you can make to determine the best options to offer as a part of total point of sale (POS) solutions.

The U.S. transition to EVM chip card payments is still far from 100% adoption. As more EMV chip cards are issued, merchants that delayed upgrading to EMV technology may be ready to move now as more consumers equate EMV with security. A prospect may have also experienced chargebacks due to processing a fraudulent card with its mag stripe, and may no longer want to bear the liability in those circumstances. The opportunity may be greatest among hospitality businesses, which lagged behind other merchants in EMV adoption.

There is growing opportunity to provide payment processing solutions to healthcare organizations, as the payer is more often the patient instead of exclusively an insurance company. Healthcare providers are following the lead of merchants and are looking for solutions that optimize customer experiences while making payments easy and convenient.

Payment Processing Vendors

Payment Processing Services Trends & Case Studies

Huge Opportunities to Sell Payments in 2021

Your clients are looking for safe, secure and convenient ways to accept payments. Do you have the right solutions in your portfolio?

Payment Processing Services: Change Was Inevitable

SMBs may be VARs’ best opportunity, but they’ll require more time and guidance.

What’s New in Payment Processing? A Whole Lot.

VARs and MSPs have the opportunity to provide merchants with new capabilities and grow their businesses thanks to the sweeping changes in the payments space.

Why It’s Critical to Give Customers Their Choice of Payment Processor

Practical advice from Terry Zeigler, President/CEO of Datacap Systems, concerning the state of the payments industry and the choices you must make.

Are You Providing Frictionless Payment Solutions?

The industry is trending toward seamless, even invisible, payment experiences that take care of transactions behind the scenes with little effort on the part of the customer.

Payment Statistics VARs and MSPs Need to Know

Debit cards are the most used form of payment, contactless cards are being issued by the millions, and VARs and MSPs are leaving money on the table.

Recurring Revenue Best Practices

Business Continuity Planning

How Business Continuity Strategies Have Changed Since 2020

Before the pandemic, companies predicted what they’d need to keep operations moving during a long-term disruption. Now they know.
Data Compliance

How to Protect Your Company From Compliance Risks

With strict laws regulating how personal data is collected and handled, regulatory compliance should be a top priority for XaaS providers.
Data Analytics and BI

Your CPG Customers Don’t Need More Data — They Need Answers

IT solution providers can endear themselves to CPG clients by bundling NLG tools with Business Intelligence dashboards.
Professional Firms

Why Managed Services Are in Demand at Professional, Legal and Engineering Firms

Operating a professional office has changed since the start of the pandemic, and those businesses need an MSP’s expertise and support to optimize workflows.

The SMB Cloud Adoption Trend has a Silver Lining for MSPs

SMBs embraced cloud solutions to stay afloat during the pandemic, and now they need MSPs’ expertise to optimize, expand and protect these solutions and services.
Collaboration UCaaS

Are Your Customers Using Teams Without the Full UCaaS Experience?

Adding voice to Microsoft Teams gives channel partners monthly recurring revenue streams while lowering customers’ costs and increasing productivity.

Related Services

General IT Services

Ideal Verticals

Restaurant

Retail

Relevant Associations

Latest Podcast Episodes