The payments industry is getting smarter as never before. Smart banking, smart terminals, smart payments… You’re now able to transfer money, access your account and your funds wherever and whenever you’d like. What about an e-cig merchant account to grow your business? Just read below and you’ll learn more.
The Rise of Digital Payments
Digital payments are on the rise all across the world. So, the rise of digital banking channels is no surprise at all. On the other hand, credit card processors are offering newer and smarter solutions to make it much easier for individuals and companies to complete transactions.
Today, customers are choosing digital banking over physical banking more and more often. According to PwC’s Digital Banking Survey in 2017, 46% of banking consumers preferred to use only digital channels. This was an increase from 27% in 2012.
So, the times when banks served as huge buildings where people would wait to get funding or deposit cash, etc. are left in the past. This was, in fact, an activity, which would usually take your entire day. Nowadays, your bank is in your smartphone. Strikingly, you can do much more than just sending and receiving money.
Additionally, the AI revolution in the payments field is another smart step that the industry is taking. All these changes towards becoming smarter result in lower costs and increased effectiveness both for consumers and merchants.
Smart Payment Processing: E-Cig Merchant Account
Many regard the online, electronic payment industry as an extremely diverse, ever-evolving field driven by the increasing adoption on a global level. The rise of payment processors is part of this expanding and rapidly developing space.
So, it becomes critical for merchants to find a true payment expert that can help them grow successfully and be able to keep up with the latest trend in the industry. Since the e-cig market is one of the most rapidly growing ones, electronic cigarette merchants should work only with a reputable processor to get the most reliable and lowest cost e-cig merchant account for their business.
Today’s fintech world is working on making payment processing much easier and effective for merchants and customers all over the world. By the way, the 3rd World eSIM Summit has recently been held in Brussels, Belgium. eSIM is a global specification by the GSMA. It’s called to enable remote SIM provisioning of any mobile device. Programmable SIM offers a number of benefits to users, such as the security/protection of the SIM and the remote provisioning.
The modern payments world is getting smarter and smarter, and the so-called “smart terminals” and smart POS credit card readers are vivid examples of this. Such terminals and readers are gaining more popularity among business owners around the globe.
Did you know that in the US, the payments category accounted for up to 15% of all financial technology funding deals? This is more as compared to any other segment of fintech, according to CB Insights.
So, it’s no wonder that the number of payments companies in the US is growing. They’re committed to offering smarter payment solutions to make money transfers more affordable and reduce e-commerce fraud. Thus, it’s crucial to keep your finger on the pulse and find the best credit card processor to work with.
Author Bio: Electronic payments expert Blair Thomas is the co-founder of high risk payment processing company eMerchantBroker that offers the most reliable and cheapest e-cig merchant account in the market. He’s just as passionate about his business as he is with traveling and spending time with his dog Cooper.