The payments market is a constantly-changing and technology-driven industry with many trends constantly evolving and old ones fading away. The payment market is being revolutionized and thus requires modern payment systems that will enhance the growth of businesses and comfort of customers of businesses.
A growing challenge of small and medium businesses is the payment methods for their products or services. You find a business situated miles away from popular shopping malls where there is no access to cash for customers to withdraw money and pay for transport fares or for the services. Even though the payment landscape is largely being predominated with electronic payments, cash payments and access are still paramount in the emerging countries.
The year 2017 brings us an array of trends of the payment markets, and this in turn requires businesses to stay abreast of such evolving trends in business. From the cyber security and government compliance point of view, the payment system providers are faced with challenges to keep up with the industry requirements, too, by constantly upgrading and maintaining their legendary systems. All these require any business in Australia to also conform to the trends. Emerging markets drive the payment systems and their dynamics.
Electronic payments vs ATM machines
There is an apparent winner between the prevalence of electronic payments and ATM machines in the industry today, the year 2017. Yet still, this does not mean that the ATMs are negated in the process as their presence is indispensable to many customers out there.
To start with, you need to understand your customer base and then meet their needs for your business to thrive. For instance, your business is relying heavily on public transport, it is important to consider having the ATMs in the premise to give them access to their cash whenever they need to take the public transport because the ecommerce has not made a huge progress in the transport industry.
On the other hand, electronic POS are reigning in power as more stores tend to adapt the route as the most convenient, reliable and fast one. The perks of using electronic payments are tremendous. The market is growing and the competition is becoming fierce.
Implementation of payment systems in your business
It is imperative to have all payments systems implemented for the convenience and comfort of all customers. Not everyone may be excited about using credit or debit cards for transactions. Some actually prefer the common way of using cash instead. This necessitates the need to have ATMs installed at your branch. Furthermore, you need ATMs that are user-friendly, supported 24/7, maintained and modernized.
Check the ATM machines by Nextpayments as one of the pioneers behind the modern payments in 2017 in Australia. To give you extra benefits, the ATMs have the on-screen advertisements to alert your customers about the in-store promotions. That’s a great solution to your advertisement drive in-store. The cash dispensation will encourage the customers to purchase the promoted items on-screen.
All you need to stay abreast with the payments markets in 2017 is a reliable partner to help you implement them. Be the electronic POS, eftpos cash out or the modernized ATM machines, you need a highly experienced team of professionals.
Moreover, you need a transparent partner with no hidden costs in the services offered. The Next Payments ATMs accept all known debit and credit cards. This is in line with the government’s efforts in improving the card acceptance infrastructure. The acceleration of the electronic payments has led to a fall of the ATMs and bank branches in some countries, while the need for the customer to access their cash is being overlooked. Having a reliable ATM in-store can actually recruit customers to your store and the on-screen advertisements can reinforce retention of customers after viewing the ads.
Take your business to another level by considering a balance between electronic POS and the ATMs in-store to increase the likelihood of retaining more customers. The year 2017 requires revolutionized payment systems, not the aging cash dispensing machines that focus on their brands not your business. Buy ATM machines with Nextpayments and see how they can convenience your customers. The company offers a wide range of payment systems.
Kidal Delonix is a contributor to Mr. Hoffman's blog. The views and opinions are entirely his/her own and may not reflect Mr Hoffman's views.
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