According to the American Transportation Research Institute, traffic congestion cost the U.S. trucking industry a record-high $108.8 billion in 2022. If you’re wondering, this is equivalent to 435,686 truck drivers (or 22% of all Class-A licensed drivers) being idle for a whole year. The average cost per every registered combination truck comes out to $7,588. Interestingly, the total hours of…
By next year, global online retail sales are expected to reach $9.4 trillion. Even so, many online retailers aren’t currently well-positioned to take a big slice of that pie. With the market growing at such an unprecedented pace, retailers must keep enhancing their workflows, improving their processes, and keeping up with customer demand to remain competitive. One approach that can…
Studies show that almost 70% of online shoppers tend to abandon their carts, leading to $18 billion in lost revenue in a year. Most shoppers abandon carts due to hidden fees or being asked to create an account, but another common reason lies in their preferred payment method not being available. This is where omnichannel payment processing comes in. Want…
With digital transactions dominating the market, it’s more important than ever for merchants to understand the mechanics of credit card processing. This process involves many interactions happening between several players behind the scenes. One of those players is the merchant acquirer, which plays a crucial role in facilitating these digital transactions. Want to know more about the specific functions of…
In recent years, there’s been a lot of talk about the promise and the perils of artificial intelligence (AI), as well as what this technology could mean for businesses and individuals. At this point, AI is a major player in almost every industry you can think of, including transportation. Read on for six key ways the AI is helping transform…
With over 133 million active cards worldwide and an average annual spend of $23,500 per card, it’s no surprise that American Express has strict chargeback rules. For merchants trying to minimize losses and maintain a strong relationship with AMEX, managing these chargebacks is of crucial importance. Learn how AMEX chargebacks work and the best ways to handle them successfully. AMEX…
Does your business accept ACH payments? If so, the ACH network is critical to your processing system. It’s responsible for delivering social security benefits, direct deposits of payroll, and more. For the ACH network to function properly, it needs a governing body to ensure better risk management practices, efficient payments, and so on. This is where the National Automated Clearinghouse…
Most merchants accept the fact that payment processing comes with a cost. That said, when was the last time you took a closer look at your monthly invoice? If it’s been a while, you may discover that you’re significantly overpaying for this service. Payment processors can hide and inflate their fees in many ways, and not many merchants know what…
Pretty soon, hydrogen fuel cell technology will be a key player in the transportation industry, and Canada is leading the charge. Earlier this year, Walmart Canada became the first major retailer to introduce hydrogen fuel cell electric semi-trucks to its fleet. In this article, we’ll aim to explain why most trucking companies in North America should soon follow in their…
Credit card fraud has always been a serious issue, and it’s only gotten more serious in recent years. This type of fraud is now the most common form of identity theft, with more than 114,000 cases recorded in 2023 alone. The good news: credit card issuers are aware of this problem and are doing what they can to stop it,…