The entire digital payments landscape has faced significant structural changes over the last few years and keeps growing as a valuable payment option for shoppers worldwide. Now, with the SARS-CoV-2 coronavirus causing operational adjustments everywhere, more companies are adopting global payment solutions to fuel growth and remain profitable. 

As companies continue to digitize their operations, online shopping is becoming more accessible to consumers. As a result, the global credit card processing industry is expected to experience steady growth due to a rise in digital payments. 

Read on to learn about how global credit card services are expected to grow thanks to the rise in digital payments.

Begin Accepting Credit & Debit Cards

Utilizing global credit card processing services empowers your small business to accept credit and debit cards. With e-commerce sales surging, there has never been a better time to begin accepting credit cards, a widely favored form of consumer payment and essential for doing business online. 

Accepting credit cards legitimizes your business, boosts your sales and improves your cash flow. It may also encourage impulse buying for online shoppers, which in turn helps increase revenue and average transaction value. 

When you use global merchant services, you can eliminate the risk of accepting a bad check while simultaneously increasing convenience for your customers. Purchasing global merchant account services will set your business up for greater success by offering your customers the convenience of credit, debit, and online payments. 

Attract Foreign Customers

Purchasing global credit card processing services also helps online businesses effectively attract foreign customers. Across the globe, online payment solutions are consistently becoming the preferred way for customers to shop. 

Using global credit card processing services, you can manage currency exchange, tax compliance, foreign standards, and language support. By addressing this demand, you can attract new customers in other countries, expand your business into a truly global enterprise, and manage compliance standards. 

Remain Ahead of Competitors through Digital Payments

Working alongside global credit card processing service providers can help your small business consistently remain ahead of the competition. Whether you are operating a small brick and mortar business, an online e-commerce company, or a large conglomerate, you undoubtedly already know that it’s essential to strategically plan how to stay ahead of competitors.

With a global merchant account, you can set the bar for competitors in your market space. These solutions allow you to expand your online presence, attract foreign competitors, and offer services that your competitors do not. 

Options: Offer Alternative Digital Payments

Global credit card processing solutions let you offer alternative payment options to your customers. When purchasing products online, consumers want and expect a choice. Global merchant solutions deliver the flexibility to provide a variety of payments and alternatives. 

Once equipped, these processing services allow you to accept alternatives such as mobile wallets, smartphone payments, and direct bank transfers. Other advanced options are even able to process transactions using digital cryptocurrencies. These advanced global merchant account solutions expand the choices you can offer to your valued customers. 

Scale Your Business

Most business owners realize how important it is that their companies continue to grow. In fact, for your business to remain successful, you need to fuel dynamic and consistently robust growth. Global credit card processing solutions can help you do just that. 

Accepting credit cards optimizes your checkout procedures and makes your services more accessible to your customers. It’s one of the easiest ways to ensure your business is thriving, and it’s especially effective in growing your business during an ongoing health crisis like COVID. 

As the digital landscape continues to grow, businesses are integrating global merchant account solutions in order to improve productivity. They’re looking to enhance shopper convenience and fuel business growth. When properly installed, global digital payments are a relatively inexpensive business resource. Even better, these systems can be set up relatively quickly and easily. 

Once installed, online businesses can utilize these solutions to effectively attract foreign customers. At the same time, global merchant accounts empower you. They help you outpace the competition and offer a more convenient, pleasant customer experience. The result is a more consistent rate of growth for your business. 

John Boitnott

CEO, Boitnott Consulting LLC

A journalist and digital consultant, John Boitnott has worked at TV, print, radio and Internet companies for 25 years. He's an advisor at StartupGrind and has written for BusinessInsider, Fortune, NBC, Fast Company, Inc., Entrepreneur and Venturebeat. You can see his latest work on his blog, jboitnott.com