With today’s technology, it's easier than ever before for businesses to have point-of-sale payment services and for customers to pay digitally. In the past, payment processing required extensive fees and costly credit card machines. Today businesses can accept digital payments easily through smartphones and e-commerce websites. A merchant can operate a store’s transactions with nothing more than an iPad.
Managing a business has also become much easier as the result of products like Apple Pay and EMV devices. EMV devices allow customers to swipe their card across the terminal and process their payments in seconds.
Customers love this new technology because they can pay for their purchases more quickly and efficiently. Businesses also love this technology because it provides extra security and cross-product integration. For example, Apple Pay can integrate with QuickBooks software, helping businesses understand a fuller picture of their sales portfolio. These technologies make accounting and marketing easier than ever as well, as all business data is integrated into the payment processing system.
It will be exciting to see where technology takes us in the future payment processing.
