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As we go forward in 2022 and into 2023, we’re already seeing changes in the way merchants accept payments and how customers view those same payments. Whether, you’re a consumer, merchant, bank or processor, you’re constantly scrambling to understand, make educated guesses and come out ahead in Merchant Services. Explore some of the changes that we think will be critical to shaping your business in the upcoming years.
It’s difficult for customers to quantify the difference between Service A and Service B, and chances are they’re remarkably similar in terms of output. Merchant Service Providers have really gotten down to a science, how to best evaluate businesses and extract the maximum profit for them and the business owners. The next level of this is to maintain the human element behind business operations. Customer service as a key differentiator between different providers will be key in the coming future.
Ecommerce is here to stay. The past two years have shown both consumers and suppliers just how ubiquitous online shopping and ecommerce has become. Companies are constantly evolving and developing new payment solutions and integrations to make ecommerce more convenient than in-person, and companies that can’t keep up will not make in this rapidly changing landscape. You have to ensure that your online offerings are as robust as your physical offerings.
Merchants and customers alike are looking for speed, convenience and a human touch to operate within the Payments landscape. Merchants have to provide a fluid checkout with enormous customer benefits while maintaining an operational structure that can accept all payment types and integrations. In addition, adding automated services and alternative payment options that provide instant access to money is a must for the modern merchant. Zefeero has experienced these trends firsthand and we’ve begun developing our own strategies to become the next big thing in Merchant Services.
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