Business-to-consumer businesses are changing their processes and, in some cases, their business models. There’s no time like the present to be ready with the solutions they’ll need.
With the 2020 holiday shopping season in the rearview mirror, it’s time to make sure your clients are ready for the year ahead. Accepting payments will look significantly different than it did in years past, especially for small and mid-sized businesses (SMBs). As a payment solution reseller or Sales Partner, you need to make sure merchants have all the tools and solutions they’ll need to meet their customers’ expectations, keep up with changing trends, and stay relevant in highly competitive markets.
Here are four payment tools and solutions that need to be in your portfolio in 2021:
A payment gateway for ecommerce sales.
Let’s face it: if any of your SMB accounts aren’t doing business online, they should be. Even if they pulled back during the pandemic to wait for better days when foot traffic could increase again, they still need to accommodate their customers who are now in the habit of browsing, ordering, and paying online. Even if consumers are planning a trip to a physical location, they still may want to order and pay online, and then pick up their merchandise at the merchant’s curb.
Contactless payments acceptance.
As the pandemic continues, in-store shoppers are keeping their distance and limiting the surfaces they touch – including PIN pads. Work with your merchants to evaluate the processes their staff follow at the point of sale, focusing on the number of times a cashier and a customer touch payment cards, the payment terminal, and what type of receipts they’ll offer, printed or emailed. You can also help your clients minimize touch by providing them with near-field communication (NFC) technology to accept contactless payments. These solutions allow consumers simply to wave or tap a contactless payment card or mobile wallet app-equipped smartphone to use Apple Pay or Google Pay to pay for goods or services
Another aspect of doing business that’s changed is where consumers are interacting with merchants. Outdoor pop-up shops, patio dining, and curbside service all became more popular in 2020, and those trends will likely continue into 2021. An SMB merchant with only a traditional countertop point of sale (POS) terminal, and limited payment services can’t provide those new types of interactions efficiently.
Mobile solutions on the other hand, such as those offered by NAB’s sister company Payanywhere, give merchants the freedom to take their point of sale solutions to their customers. This includes outside in the sun and fresh air where the risk of contracting COVID-19 is lower, or in the aisle for line busting to minimize customers’ time in the store. Our mobile smart solutions also help SMB merchants upgrade their payment technology quickly, easily, and affordably so that they can create customer experiences on par with their bigger competitors.
In an era of sweeping change, one solution won’t be right for everyone. New hardware may not be in the cards for some of your prospects, but budget-friendly solutions that allow them to accept digital payments can definitely get their attention.
A virtual terminal enables merchants to turn almost any computer or mobile device into a payment terminal. Merchants simply enter payment information from a customer supplied over the phone or at the counter. The browser-based virtual terminal then authorizes the payment and completes the transaction in a secure, PCI-compliant manner. Virtual terminals allow SMBs to accept digital payments now – and it may get your foot in the door to meet that merchant’s needs as their business grows.
Providing the total solution.
As your customers and prospects weigh their options, they’ll need your expertise to select the solutions and payment services that will provide their businesses with the greatest value. They’ll also look to you for advice on managing payments so that they can streamline payment processes, improve customer experiences, and make life easier for the back office.
Are you ready to meet merchant demands for payment services in 2021? Contact us for advice on expanding your portfolio ASAP!