Removing Friction From Payments Is Good For Customers—And Your Business

getty In periods of economic uncertainty, business leaders look for ways to decrease costs and improve cash flow. They examine all facets of the operation for opportunities to save money and increase efficiency. Payments are an area business leaders shouldn’t overlook, especially in the context of a massive migration toward a digital-first payments approach. Surveys show people want seamless payment experiences and fast, friction-free payment options are quickly becoming a baseline expectation. As an early advocate for integrated payments, a past president of the Electronic Transactions Association and a payments professional who has spent more than two decades navigating turbulent economic times, I’ve witnessed firsthand the demand and benefits that seamless checkout processes can provide. Today, there’s no question that giving customers the experiences they want can help businesses operate more efficiently. After all, it’s in your best interest to make selling seamless; frictionless payments make purchasing easier and improve buying productivity in-store and online. Embedded payments also remove friction in the back office through automating reconciliation processes and increasing cash flow by decreasing accounts receivable. Payments are the instrument that enables commerce to be consummated, and with the right approach, embedded payments create value for buyers and sellers […]

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