With the recent inflation rate, U.S. businesses are finding it harder and harder to compete on price. As a result, many of them have focused on other ways to differentiate themselves from the competition. One key area involves the quality of customer experience. The easier you make it for customers to interact with your brand, the more conversions you can…
Most trucking companies have no issues with physical security. Truckers don’t leave their keys in the truck, mechanics remember to lock up shop, and companies install fences around their property. When it comes to cybersecurity, however, many small companies don’t do as much as they should, despite digital risks being just as numerous as physical ones. Want to know more…
With the payments industry constantly in flux, many businesses keep having to update their payment processing strategies. The latest major change occurred in 2020, when the pandemic led to the rise of digital and contactless payment models. Within two years, the number of online banking users worldwide jumped to over 2 billion and continues to rise. The Request for Payment…
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…