Cash may be stifling your community’s potential, and you may not even realize it. As the world increasingly moves to a digital economy, communities heavily reliant on cash are getting left behind. People living in financial deserts aren’t able to access the same goods and services as the rest of the world. Financial desserts are communities where structural barriers to accessing financial resources exist and where there are few or minimal relationships between community members and the financial institutions that drive economic development. This means your community may be increasingly behind in utilizing state-of-the-art technologies that could move families, businesses and schools toward a brighter future. Helping your community break free from cash is vital to ensuring future prosperity. Why? Let’s explore: Business owners moving to accepting payments cards, working with payment processors, don’t have to spend as much time storing, counting and depositing money, and can reinvest their free time to relax, spend time with family or innovate. Moving to digital payments can help small businesses compete with larger corporations, as it opens up the opportunity to process transactions from customers outside of county lines via phone and web sales. No cash means lower crime rates, because there is no tangible money to steal. As mentioned, using cards opens communities up to the global economy. This means more information, more purchasing power and more opportunity. Customers that use cards spend on average 16% more than customers that don’t, meaning more revenue for your business. Curious about how you can help your community break free from cash? Master Your Card can help. We offer a variety of informational resources for families and businesses looking to make the transition into the global digital economy.
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During an emergency, you want to ensure your money is safe and easy to access. Know your full financial rights, create a plan, and take the smart steps now to protect your money and resources in case of the unexpected.
As you get started with card acceptance, make sure you understand the processing system. <
Keeping your customers’ personal information secure is critical in earning and keeping their trust, and protecting your business from a costly data breach. Check out this new video from Master Your Card: Electrifying Business Growth to learn more about securing your data and small business.
Choosing the right card processing partner is critical to your business—but it doesn’t have to be confusing. Take the time to ask the right questions so that you choose a processor that will help you grow.
Mobile payments refer to any payment made using a mobile device. The anticipated U.S. mobile payment market will be $200 billion by 2022. That’s 200 billion reasons to grow your customer base by accepting mobile payments and offering the latest and safest technology. A mobile wallet keeps payment cards, bank accounts and loyalty program information at your customers’ fingertips. Data is protected with encryption and tokenization so that your business doesn’t need to store your customers’ sensitive financial information.
Keeping your customers’ personal information secure is critical in earning and keeping their trust, and protecting your business from a costly data breach. Don’t repeat the mistakes too many businesses make. Use these common sense steps to keep your customers’ trust.
Accepting card payments is safe, simple and secure. While some fraudsters may perceive small businesses as easy targets, you can protect yourself with prevention, prediction, detection and resolution.