Small businesses have always been first hit by economic changes. The pandemic making maintaining cash flows for small business owners irregular is the most recent example. A report by JP Morgan Chase revealed that many businesses were affected primarily because consumers cut their spending.

According to a 2020 report by the Insurance Information Institute, consumers collectively lost $3.3 billion to identity fraud. The scares of Halloween may not be real, but if this statistic is anything to go by, the scare of choosing and using the wrong payment solution is quite realistic.

The COVID-19 pandemic has transformed the way businesses operate. Health concerns, the need to reduce human contact, and changing shopping habits have increased the use of contactless payment options.

Quick Response (QR) scan codes became increasingly popular with the beginning of the COVID-19 pandemic. These codes either store or link information about a product or service, allowing businesses to accept contactless payments.

In February 2021, 85% of Americans were reported to own a smartphone. The statistics were a stark contrast to the 35% of Americans who owned a smartphone back in 2011. The new trend is indicative of the fact that most Americans are well-acquainted with the latest technology. Global statistics are no different.

An automated payment system is a digital payment solution that facilitates enterprises with cash exchange through credit/debit cards and mobile applications. The process ensures cheaper transactions are easily made through card readers and online scanners.

The process of managing your business can be made much easier using specialized applications and software. You can also run your handyman business through your phone by managing customers, writing notes, accepting online payments, tracking payments, and creating orders.

QR codes are often perceived as a convenient, fast, and easy way to share information. They can be found everywhere, from billboards, magazines, newspapers, and even on the sides of buses. QR codes are now also being used as a payment method globally.

Customer Signatures on ScanPay enable your team to collect signatures effortlessly, providing a secure and efficient way to confirm transactions.

A critical step of e-commerce transactions is making payments. Many customers hesitate from making payments online due to a wide range of security and data privacy risks.

Customer retention is a measure of how many customers a big or small business can retain at the end of a certain time period. This could be bi-monthly, monthly, quarterly, and even annual, depending on how long it can retain customers on average.

Contactless payment systems observed a noticeable spike in sales during the lockdown. The mass-scale adoption of this technology was prompted by the growing consumer concerns about contracting the virus via secondhand transmission.