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Trends in Mobile Credit Card Processing for Fall 2021 and 2022

Over the last 12 months, almost every retailer felt the need to shift from the in-store traditional payment methods to the new-age digital methods. Businesses have also understood that this shift has a vast scope – it is not just a momentary reaction to the prevailing coronavirus pandemic, but a long-term trend. IBM’s U.S Retail Index study revealed that the transition to digital payment was speedy due to the pandemic, which otherwise would have taken five years. E-commerce purchases are predicted to grow by 20% this year.

Even in these uncertain economic times, retailers can be confident that online and hybrid shopping will continue to grow. Today, the customers have become more aware and want more flexibility and security in mobile solutions from these brands. And therefore, brands cannot just sit quietly.

We know that even if the pandemic ends, the e-commerce growth and related customer needs are here to stay. For businesses to keep up with the competition, they must shift to modern payment methods. This article will discuss six trends in mobile credit card processing for fall 2021 and 2022 that will make their way into the future.

#1 E-Wallets

With the increasing number of smartphones, e-wallets have become the most convenient mode of payment for consumers. A mobile wallet syncs your bank accounts and credit cards and turns your smartphone into a contactless payment device. According to some statistics, the global estimate of smartphone users in 2021 was 3.8 billion, compared to 2.6 billion in 2016. A smartphone has become a necessity as it gives you apps for every need from banking to driving, social to nutrition tracking related to all aspects of your life.

55% of Americans use their smartphones when shopping, all due to the increasing use of e-wallets like Google Pay and Amazon Pay. With mobile wallets becoming popular and the growing use of peer-to-peer transfers, the security of these apps has also increased. E-wallets are going to change the way how we pay now. It is one of the most significant trends in mobile credit card processing that cannot go unnoticed.

#2 Social Shopping

A retailer’s most remarkable ability is being able to use personal relationships to his advantage and engage their customers in their business. More than 78% of customers trust the recommendation of their friends and family for shopping, so brands can count on social media sharing and engagement as a better proof of purchase than a direct message to the consumer.

Retailers can hire social media influencers for promotion and make use of social media tools to get to know their customers better. They can further promote positive reviews, give better customer service and sell directly on the platform where their customers spend substantial time.

#3 Contactless Payments

During the pandemic time and earlier, we would hesitate to touch cash as we did not know how many hands the bill was exposed to. With credit cards, handing them over to the cashier for a swipe and typing your card pin is avoided to minimize the touch. Things have changed much over the past months, and Mastercard’s survey suggests the same. The survey says that more than 51% of people use cashless payment in some form. Contactless payments are now more secure than the traditional swipe method with scanning technology to complete the transactions. All this is possible because of the encrypted microchips and mobile apps.

#4 Mobile POS Devices

As more and more consumers use contactless payments, retailers align their shopping experience with POS technology. With the help of mobile POS, retailers can accept payments anywhere as these are wireless devices and not connected to checkout locations. This gives even the smallest brick and mortar storse the flexibility to offer customers multiple checkout locations. With various payment solutions, customers can safely pay in line with social distancing norms. More than 73% of customers want more checkout options with advanced technology. Having said this, mobile point-of-sale devices are fast becoming a necessity for retailers large and small.

#5 Biometric Authentication

If someone had talked about authenticating a process using biometrics five years ago, it would seem like a scene from a futuristic movie. Now this process is everywhere and most of use this technology daily to unlock our phones. Biometric authentication consists of fingerprints, face, and voice recognition that we use today to unlock e-wallets. Biometric authentication gives more security as it is unique to each customer, and due to this trust, the technology attracted huge investments. According to a study by Mobile Payment Authentication & Data Security, by the year 2024, the use of biometric authentication is expected to grow more than 1000%, with a transaction value of more than $2.5 trillion. By the end of 2019, transactions valued at $228 billion were already authenticated by biometric technology.

#6 Flexible Payments

With consumers demanding more convenience and security while using mobile wallets for payments, the pandemic has also forced them to maintain and stick to a budget. Retailers now offer options like installments or Buy Now Pay Later to their customers. With enhanced security, convenience, and accountable spending, consumers have accepted these offers enthusiastically. Consumers get maximum flexibility with the zero-interest installment schemes which the retailers offer at the point of sale. It helps the customers to make large purchases easily without worrying about the having the full payment up front. The popularity of e-commerce and online shopping is growing drastically. The mobile payment strategy of the retailer will play a significant role in the purchase pattern of their customers. This strategy is almost 80% responsible for the rise or fall in sales. If the customer is getting complete flexibility in payments, multiple payment choices, and a streamlined checkout process, nothing can stop him from completing the decisive step of the final purchase.

Bottomline

As the digital world is changing fast, all kinds of e-commerce stores and other retailers need to adapt to the latest payment trends as soon as possible. With contactless payments and e-wallets offering complete convenience to consumers, they are becoming popular at an unimaginable speed. If your customers get absolute security along with seamless checkout, they will keep coming back to shop at your store. Therefore it is important for all fintech companies to keep a watch on. One thing is certain – that even if the pandemic ends, the e-commerce growth and the related customer needs are here to stay. For businesses to keep in the competition, they must shift to modern payment methods.

Top Merchant Services Trends to Watch in Fall 2021 and 2022

The past year has been full of surprises for merchants, processors, and everyone involved in the payment processing ecosystem. There have been many unexpected highs and lows, but overall the trajectory of the industry has been positive despite some immense challenges. We saw the evolution of payment channels to handle consumer demands and COVID-19 threats. Governments imposed social distancing rules. Customers of all ages quickly shifted to contactless digital payments. There are many important and emerging trends to watch in merchant services through fall 2021 and into 2022.

COVID19 had a major impact on the economy over the past 18 months. While it isn’t going away anytime soon, we have reasons to be optimistic about the future. A study by JP Morgan showed that about 54% of consumers said that they started using digital payment tools more due to the pandemic. There have been significant developments in the industry, and looking at the trends we have all the reasons to be excited about merchant services in 2022.

Here are the top merchant services trends to watch in the fall of 2021 and 2022.

#1. Online Shopping Changed Digital Payments

When we had the COVID-19 first wave, we saw more and more consumers using online services. And businesses had to adapt to the new situation. A study showed that more than 76% of companies agreed that most consumers are now using different payment methods. Digital wallets are now a new normal and people are using them in buying all types of things over the internet. Even those customers who were not comfortable sharing their financial details with businesses have started to shop regularly. More than 18% of the consumers shopped online for the first time during the pandemic. People became confident and habituated to online payments. 38% of consumers said that even after COVID-19 is entirely gone, they will continue to shop online more. This is one of the most encouraging signs for merchant services trends that are going upwards in 2022. It is expected that even after 2022 it will grow exponentially.

#2. Spending and Tracking Tools for Payments

During the pandemic, the businesses saw that consumers had a different paying pattern. They also saw that consumers needed to manage their spending accurately too. With the rise of multiple digital wallets, consumers are getting added advantages. With wallets, the biggest advantage is that they now have a clear picture of how, when, and where they spend their money. This trend was accelerated further due to the COVID-19 pandemic. There are many mobile apps that offer wallets and quick payment options. They also offer you options to manage your spendings and also provide financial advice. With the use of AI (Artificial Intelligence) in future apps, it will be easy to track and control spendings.

#3. Increased Use of Biometric Authentication

The first factor that shook the payment industry is PSD2. The industry will see a significant impact on the growth trends next year. This is also because the time limit to implement the PSD2 strong customer authentication was ending soon. From January 2021, the transactions without any multi-factor verification will be automatically declined. We will witness a significant increase in the use of biometric tools for payment verifications. A study by Juniper Research also predicted that the use of biometric verification for transaction value would be more than $210 billion just in 2021. And the figure will touch $3 trillion by the end of 2023. This trend will increase in the coming years. With the introduction of compulsory biometric verification, people have started to trust online payment gateways. They feel it is far safer now to spend online. Thus the increased use of biometric authentication has boosted the trend in a positive direction.

#4. Global Rise in Real-time Payments

With the COVID-19 pandemic, experts predicted that real-time payments would see good growth in the US. This trend was increasing in 2021 where the value of real-time payments increased by more than 50%. But it did not just limit the growth to the US. One of the studies predicted that real-time payments will grow at a rate of 29% globally between 2020 and 2025. COVID-19 started the trend of real-time payments and will also accelerate its growth in the next year too.

#5. New Focus on 5G Technology

The year 2020 also saw a prediction about the growing importance of 5G and IoT. Where the pandemic accelerated many expected trends, the adoption rate of 5G slowed down. At the same time, far more people were spending much time at home, entertaining themselves over the internet. The number of people who shopped online grew exponentially. And the 4G could have not matched this overload. It failed miserably. 46% of businesses agreed that they lost sales due to slow checkout times. All credit to the 4G technology. The businesses wanted a frictionless in-store experience for their customers. So they now have started shifting their focus to 5G technology to overhaul the store checkout time. The sooner 5G technology is adapted by the market, the better results for merchant services trends in 2021 and 2022.

#6. A Steep Rise in Subscription Models

The pandemic saw many businesses launching their subscription models because of the business need. The customers were also looking for more benefits and they also showed great interest in subscription-based services. More and more customers were planning to increase their subscriptions from what they had earlier, and the age group of 18-34 years was a frontrunner in this trend. Surprisingly, this trend was not limited to digital services only. The famous Pret A Manger coffee chain started its in-store subscription service for coffee in the UK. The subscription model was a success and many businesses will use it and replicate a similar success for their products and services.

#7. Crypto Payments Go Mainstream

Anything that can boost the entire ecosystem of merchant services in the coming years is the use of crypto payments. The fintech companies have been working to find more real-world use for cryptocurrencies. Initially, it was a big challenge to start a system of crypto payments. Big projects like Facebook Libra saw significant setbacks due to regulations. 2021 saw a breakthrough in eCommerce payments. Many big payment processors announced that they would be enabling payments in cryptocurrencies at merchant locations as a priority. This is encouraging and will certainly boost the online payment numbers in the years to come.

#8. Using AI and Machine Learning to Prevent Fraud

AI is comparatively a new technology. But the rate it is growing is astonishing. And the banking sector was the pioneer in implementing this technology. As this technology grows, the online payment gateways will get more secured and robust. For the last few years, online crimes have been increasing rapidly. And the only way to control this is AI implementation that can learn fast and respond with enhanced security. Banking sectors need to expedite the process of implementing AI systems because during the corona pandemic online transactions grew multifold. And fast implementation of AI to protect consumers and merchants is the need of the hour. Although a recent report shows that banks have spent more than $217B for implementing AI. And they plan to implement it further and faster to safeguard consumers from any type of fraud.

#9. Payment Apps with the Customer Loyalty System

Businesses are not only adapting digital payments but also encouraging their customers. They are pushing their customers to use the digital mode for transactions. To do so they offer rewards, discounts, loyalty points, and various other loyalty schemes to their customers. The customers have responded well. Each time they make a transaction, they get benefits. This is a mix of traditional and digital systems. The customer loyalty program has been successful in the past and it will still define merchant services trends in 2022 and beyond.

#10. Peer-to-Peer Payments Merchant Adoption

Another prediction that came true was about the increase in peer-to-peer payments. In the US alone, more than 50% of consumers are now using P2P apps. The use of cash has been declining. The use of apps to send money to family and friends is increasing rapidly. And this will see faster growth in the next few years. But this growth will not be for the US alone. Other regions like South America will also see an explosion in the use of such apps. P2P networks have been positively pushing the merchant services trends since the beginning of the pandemic. And it is expected that this trend will continue to grow upwards for many more years to come.

Integrated vs. Non-Integrated Credit Card Processing

Do you own an online business? Are you trying to find ways to navigate the complex world of e-commerce? Well, no need to keep searching! You’ve come to the perfect place to answer all your questions about online finances, payment processes, and more.

Today, we will discuss credit card processing, focusing on integrated vs. non-integrated credit card processing. While these two may seem pretty similar, they have many crucial differences that make them suitable for certain businesses. Want to find out which one is best for your online shop? Then, keep reading to discover more as we dive deeper into the battle between integrated and non-integrated credit card processing.

Integrated vs. Non-Integrated Credit Card Processing – What’s The Difference?

Learning the difference between both is an excellent place to start. First, we need to define our terms to answer this fundamental question.

Integrated credit card processing is a method built into the platform or website where you sell your products. It is revered for being fast, easy, and convenient and helps retain customers by making their checkout experience quick and effortless.

On the other hand, non-integrated credit card processing is a way of processing credit card payments that aren’t run by your platform but by a third company. This company creates a safe payment gateway for consumers to buy things while keeping their personal information safe.

Now that we’re all on the same page let’s discuss each process in detail so you can weigh the pros and cons and see which is right for your business.

Credit Card Processing – How Does It Work?

Well, it depends entirely on which process you choose. Let’s compare the two by proposing a hypothetical situation. A young woman named Samantha has found her way to your online shop via Instagram. She sees a pair of earrings she loves and decides to have them immediately.

If the website uses integrated credit card processing, here’s how it will all go down:

Step 1: Samantha will click “go to checkout.”

Step 2: Samantha will put in all her personal information without getting redirected anywhere else and finish her purchase all in one fell swoop!

But if the website has non-integrated credit card processing, this is what will happen:

Step 1: Samantha will click “go to checkout.”

Step 2: Samantha will put in her information

Step 3: Samantha will be redirected to a third company page to choose which payment option she prefers. Since she’s a young person, she’s most likely to choose PayPal, as many young people nowadays find it easier and more convenient to use, especially when shopping online.

Step 4: Once she has entered her payment info, it will be authenticated, and as soon as it does, it will redirect her to the website, where she will be asked to complete her purchase.

Right off the bat, you can probably spot the main difference here: time. The integrated processing options are done in a few seconds, while the others can take up to a few minutes. But can this impact the consumer’s decision? It turns out that it does quite a lot.

Wanting to buy something from an online business and then getting redirected can quicken consumers’ hearts since they feel like they’re getting scammed. Although PayPal is a favorable option, it still takes some time to put in your information, which will most likely make your customers impatient and abandon their carts.

With integrated processing, everything is done in one place. The shopper will most likely feel safe giving the company their information since the power to process credit cards builds trust and security. The shopper also has less time to panic because the transaction is completed in seconds. They finally get to sit back, thankful that modern technology allows them to buy things without leaving their home.

Alright, now that you’ve examined how each option behaves in the same scenario, let’s examine each payment process in more detail.

Integrated Credit Card Processing

Integrated Credit Card Processing is used by almost all the major brands that have online stores, providing a clean and comfortable way for people to shop.

An integrated processing system does all the work by authenticating the shopper’s information and interacting with their bank’s server without needing a third-party processor. This also means it won’t redirect customers to another page, making them feel more secure and dissipating doubt that they’re getting scammed.

Now that you’ve got a short description let’s get down to the nitty-gritty by looking at the pros and cons:

Pros:

Fast
Efficient
It makes customers feel like they had a better experience
All your payments are processed in one place
Safe
Useful
Modern

Cons:

It may take a while to sort out since you’ll need to hire a software developer to add it to your website or switch platforms if the one you’re using doesn’t have integrated payments.
It may require an initial investment.

Now, let’s compare this method with non-integrated credit card processing.

Non-Integrated Credit Card Processing

Non-integrated processing is done through a third party instead of your website. It can be run through any software, from a Chrome extension to a mobile app.

Pros:

Safe for the customer and the merchant
Intuitive
Useful

Cons:

It takes longer to process payments
May make consumers feel like they’re getting scammed by redirecting them
It takes too long to finish the purchase

Conclusion

The truth is that the only way to know which process is best for your business is to try one of them yourself. If you’ve been using non-integrated payment processing for a long time and it hasn’t caused any trouble, then you can continue to use it. After all, if it isn’t broken, don’t try to fix it! But if you see your revenues starting to drop or you want a change, investing in some software to make payments easier can go a long way.

What is a Credit Card Imprinter?

A credit card imprinter is a manually operated, non-electronic device that prints the face of your credit card and transfers it to a duplicate slip. After successfully printing your credit card, you sign it, and the owner or dealer tears off the perforated edge, keeps the original copy (above) and provides you with the hard copy (below).

Credit card printers have earned a dubious reputation as one of the ever-growing ranks of obsolete or near-obsolete items such as cassettes and DVDs, landlines, and movie cameras. Most of these devices were about the same size and shape as a standard handheld adding machine. Most retailers and other businesses in the 21st century use some electronic barcode scanners. But some businesses still need a printer, especially when processing credit cards without a printer.

Today, several companies use manual credit card devices such as these printers for many purposes, such as when they take a customer’s order and later want or need to enter the card details at a virtual terminal. It also works as a backup option if your electronic credit card scanners fail or a power outage occurs.

A credit card printer essentially uses a small setup. Your card is secured with a piece of paper; Carbon paper can work if necessary. Typically there are three papers printed at once, so you can give the consumer and the issuer of the card a copy while you keep a copy to yourself. Old school card printers usually came with a personalized badge with your business information and the card data. Both of these features would appear on the same document out of convenience.

Other Concerns About Credit Card Printers and Manual Credit Card Transactions

Keeping a near-complete copy of a customer’s credit card information poses some security issues that you normally don’t need to fear.

There are no fancy two-factor security and encryption functions here. The retailer makes a physical copy of the customer’s credit card information for further processing. You don’t have to worry about your receipts being hacked, but they can be stolen or copied. Any security should work for your business practices, including details on how they will store this data.

You may want to keep the receipt for about 180 days, during which the customer can dispute the sale. If the receipts are no longer required, make sure that they are destroyed.

What does a credit card printer do?

A credit card printer prints your credit card on a duplicate slip. One copy will be given to you and the other kept by the business owner. As the cardholder, you sign the receipt and agree to pay for any goods you purchase during the transaction. The owner sends the information to the bank. The money is then transferred to the merchant account after the lot is processed. Credit card printers are still necessary for many situations, despite advances in recent years.

How Are Printers Still Used Today?

Many companies still use credit card printers for a variety of reasons:
Emergencies: If the company has a power failure, a printer is the only way to complete a credit card transaction.

Record Keeping: When a small business owner processes credit cards through a virtual terminal, they must obtain the consumer’s credit card information to enter into the system later. A printer is the most efficient way to do this.

Batch Processing: Small business owners often prefer to process all of their credit cards at once; printers allow the cashier to collect all of the relevant information from each customer and process a single batch at the end of the business day. It then moves to the owner’s merchant account in one transaction.

Printers and Technology: Records Versus Efficiency

Processing credit cards with an e-reader is probably the most efficient way of doing business. Printers are still useful when you only want to collect customer data for emergency purposes.

How Manual Imprinting Machines Work

Manual imprinting machines slide over a reader with carbonless paperwork. The content it reads contains records on the service provider. The machine can use this to review details like the customer’s credit score and the card expiration date. The imprint is created by using the impact of the raised letters and numerals at the face of the credit card onto the carbonless paperwork. Typically, the service provider returns one reproduction of the carbonless shape to the customer, preserving different copies for processing with the credit score card company.

Reasons to Use Manual Credit Card Imprint Machines

Although many traders have in large part deserted these imprinters, they nonetheless keep a few advantages. For instance, card imprint machines no longer require energy or an online connection with a modem or Internet link to the credit score card processor. In addition, the physical imprint of the credit card affords traders a degree of safety towards charge-backs. It can help highlight certain particular purchases that someone made, making it harder for someone to try and issue a charge-back. The design ensures the safety of the deal while preserving its general accuracy and security when working well.

Identity Theft Issues

A predominant downside to credit card imprint machines is they reproduce a customer’s whole credit card data, including its expiration date and even the CVV that appears on the front or back of the card. Careless dealing of paper receipts leaves clients susceptible to credit card fraud and identity theft. In 2006, the Federal Trade Commission imposed a regulation that called for traders to truncate the numbers of credit cards and to mask the expiration dates on their paper and digital receipts. In addition, many traders require clients to deliver the safety code placed at the lower back of the credit card alongside the credit card quantity and expiration date whilst processing transactions by phone or online connection.

How to Get a Bad Credit Merchant Account [2025 Update]

You may assume it would be impossible for you to obtain a merchant account if you have poor credit. You might have gotten a bad credit rating due to issues like your business not being able to pay off its loans. You could also have a poor rating because your business is constantly dealing with chargebacks.

There’s no need to worry, as you can get a bad credit merchant account to help you accept credit card payments from your customers. You can use a few steps for acquiring an account, but much of this involves figuring out what is suitable for your business. You may find our experts at Host Merchant Services to be more effective for your work needs than you might expect for any situation.

Avoid the Credit Check

The first thing to do when finding a bad credit merchant account is to find a group that will not conduct a credit check on your business. A credit check may reveal various flaws and issues with your business that will keep you from getting an account.

A credit check traditionally entails looking at factors like how much money a business spends and owes, how much credit it uses, and whether it is delinquent on anything. It can also include a look at the chargebacks in a business and how they might make it harder for a company to bring in the funds it deserves. Groups that don’t collect as many funds can be tough to support.

Not all merchant service providers will work without credit checks. We at Host Merchant Services can review your work without a credit check.

Provide Processing Data

The best way to get a poor credit account is to provide processing data for your business. You can submit at least the last three months of your credit card processing bills. The statements will display how you collect funds from people.

You can also include the last three months of bank statements in your business. These statements will help you highlight how much money you’re bringing into your business.

General Details on Your Business

You can also submit enough details on how your business operates when applying for a merchant account. You can provide a government-issued ID, a bank letter or voided check, and a Social Security Number to your merchant service provider.

Presenting a functioning website also helps for your success. Your website will help a service provider review what you offer and how you’re going to collect money from your customers. It is easier to get an account if you can show your business has a plan for how it will operate and promote its work.

Be Cautious With Your Account

While it is easy to get a poor credit merchant account, you will likely deal with higher processing fees. The added fees cover your increased risk for chargebacks or other financial issues.

You may also experience restricted contract terms. You might have fewer privileges versus good-credit businesses. There may also be penalties for getting out of your contract early.

The expenses for your account will vary, but you can expect to spend more than what most people would spend on your services. Always check the contract you enter when looking at what you’re using, and be sure you plan your work well surrounding how much you’re going to spend on merchant account services.

You may be eligible for lower rates if your credit rating or your payment history improves. But it may take a while before you can get a better rate on what works.

Who Is Willing To Accept the Risk?

The best way to review a possible merchant account is to identify who’s willing to take a risk with you. Not all account service providers will support your business. They may be suspicious of how your business operates. Some entities may also not have enough resources to support your business.

Every merchant service provider has different rules for trust when dealing with clients. Some providers may be more supportive of high-risk entities than others. They might be fine with businesses that have poor credit ratings, but they may not be willing to provide as many services. Look at the thresholds these providers have when figuring out what they will offer for your business before making a choice.

Look At HMS Today!

We at Host Merchant Services will help you with your bad credit merchant account. We can prepare a new account that fits your needs without having to review your credit rating. Our team will check how well your business is running and identify a solution that works for your needs.

Best of all, we never require any long-term contracts for service. You can pay for our services by the month, giving you the flexibility you need to handle your work. We’ll even reprogram your existing infrastructure if necessary. We can also provide equipment to you for free as long as you return it after you no longer have a need for what we offer.

Our charges are also transparent and simple. We provide a simple interchange-plus pricing platform that includes rates you can understand and recognize. You can use our reports to figure out what you’ll spend on something of value. We will help you review if our system is suitable for your business or if you should stick with a different solution.

We don’t require weekly minimums for our services. We also do not charge setup or application fees. You won’t risk paying any early termination fees either, what with us not imposing long-term contracts for what we provide.

Don’t forget about our customer service department. We will be there for you twenty-four hours a day to answer whatever questions you hold about how your business is working.

Take note of what we at HMS provide when looking for a merchant account today. You’ll find it is easier for you to get a poor credit merchant account than you realize when you ask us for help with your work.

Frequently Asked Questions

More Gas Station Merchants Are Now Accepting Fleet Cards

One of the most common credit cards you can accept at a gas station is a fleet card. Gas station merchant services often accept fleet cards that people use to pay for fuel at gas stations. These include people who work for certain businesses that provide vehicles for those workers to use.

Gas companies and other organizations can offer fleet cards to their employees. They can establish plans with businesses to produce multiple cards for each employee or vehicle.

You will likely accept plenty of fleet cards when running a gas station. Your gas station merchant services reports can include details on various fleet cards you accept. The benefits these cards provide to businesses make them common ones you’ll find today.

The General Concept

A fleet card is a credit card issued to businesses that have people who regularly drive certain vehicles. The card can work for businesses that utilize vehicles for deliveries and other activities. A company can request as many fleet cards as necessary, but it will use the same account to manage all these cards it uses.

A business could have hundreds or even thousands of vehicles in its fleet. A fleet card system allows the workers who control these vehicles to maintain them.

What Do People Buy With Fleet Cards?

The workers can use their fleet cards for many purchases, with many of these focusing on how they will manage their vehicles. These include:

Fuel for their vehicles
DEF for diesel vehicles
Oil, antifreeze, coolant, and other items necessary for vehicle maintenance

Full Control

Gas station merchant services often see fleet card transactions because employers will have control over how their employees use these cards. An employer can do many things with these fleet cards, including:

Establish limits on how employees can spend with these cards; these restrictions can include limits on what products or services someone can buy
Identify potential misuse issues, including when someone doesn’t use a fleet card at a designated location or for vehicle-related needs
Check reports on how people are spending money with their cards
Create budgeting estimates for how workers will use their vehicles

These efforts allow a business to keep tabs on how its employees spend money. It keeps expenses down, as people will only spend money on the vehicles they operate.

Possible Rewards

Fleet cards are also noteworthy for how businesses can potentially enjoy unique rewards. Some of these rewards include:

Cashback offers
Discounts on fuel purchases
Added insurance protection for vehicles in one’s fleet
Discounted interest rates and reduced fees versus what traditional cards provide

The rewards will vary surrounding whoever provides the card. But the deals that are available will be worthwhile, as they ensure a business will have more control over how it handles its funds while maintaining its vehicles.

You will likely find many fleet cards when managing your gas station merchant services needs. The benefits of these cards and the ways how business owners can manage them make these cards popular for many uses.

The Top Reasons You Should Switch to EMV [2023 Update]

What’s the first word that comes to mind when you think of credit cards? If it’s fraud, you’re onto something. Hacking and identity theft are at all-time highs, especially during the pandemic. As a merchant, it’s your job to minimize the risk for your consumers in order to stay in business.

One of the best ways to do that is to switch to EMV or chip technology rather than magnetic strip credit cards. Even though it’s an added expense on your part and will require a little work, there are many reasons you should consider it.

EMV is Harder to Hack

Thieves have an easy time stealing information from a magnetic strip credit card. EMV credit card processing encrypts the data, so it’s harder to hack. EMV transactions each have a unique code that’s for that transaction only. Even if hackers got a hold of it, the code wouldn’t help them on any other transaction.

When you make it harder for thieves to hack information, customers are more likely to visit your business. They don’t want to put their information at risk and when you show you’ll minimize the risk, they’ll visit your business.

Customers Want It

By now, most customers realize the importance of the chip card. Most credit card companies have replaced consumers’ credit cards with EMV cards and consumers know it’s safer. Some customers won’t visit a business if they don’t accept chip cards because they know their information is protected.

Merchant Processors May Hold You Accountable

Some merchant processors hold their merchants liable for counterfeit transactions. If a customer’s information is stolen at your place of business and it’s because you don’t accept EMV cards, the merchant processor can hold you liable for the damages.

It’s the Standard

People everywhere, including internationally, expect to pay with a chip card. If your business doesn’t have it, they may not trust you as much. Consumers want businesses up with the times, especially when it comes to security, so it’s important to show you are with the times and willing to do whatever is necessary to keep them safe.

How to Switch to EMV

It’s not as hard as you think to switch over to EMV credit card processing. You may need new equipment and there may be set up fees, but it’s a one-time charge that will pay off in spades when your customers see you taking their safety seriously.

Take Credit Card Processing Seriously

It’s important to always take credit card processing seriously. Consumers need you to protect their information and merchant processors want you to hold up your end of the bargain, too. It’s a collective effort to keep hackers away. While no one can prevent it 100%, if everyone works together, you can minimize the risk for everyone.

Adding EMV chip cards to your credit card processing protocol is the best way to keep your customers safe today.

The Best Credit Card Offers for 2020 and 2021

If you have a New Year’s resolution to get your finances in order, that may include finding the right credit card. If you have a high-interest card that doesn’t provide you with any rewards or benefits, you could be missing out.

The Top Credit Card Offers for 2020 and 2021.

Discover-It Cash Back

If you want a simple credit card that pays you for your purchases, Discover-It is it. You earn 5% back on your purchases up to $1,500 each quarter. The reward categories change, but you always have options, and they are typically categories everyone spends in or specific stores everyone shops at (such as Amazon).

Discover also doubles the cashback you earn after your first year. In other words, you earn ‘free money’ if you keep your card in good standing for the year.

Citi Double Cash Card

Earn 1% back on all purchases and an additional 1% when you pay your bill. Even if you pay your balance over a few months, you still earn 1% of what you pay. So it totals out to 2% cashback as long as you don’t let interest charges take over your rewards.

The Citi Double Cash card doesn’t have a reward bonus like most cards, but it comes with a 0% balance transfer APR for 18 months. That’s a nice long period to pay off your balance before interest accrues.

Chase Freedom Unlimited

If you like tiered rewards, check out the Chase Freedom Unlimited card. There’s no annual fee, and you earn cashback year-round in a tiered manner.

It’s best for people who travel as you get the largest reward on travel purchases (5%). It also pays 3% back on restaurant purchases, 3% back at drugstores like CVS, and 1.5% back on all other purchases. So, no matter where you spend money, you’ll earn cashback.

Bank of America Cash Rewards Credit Card for Students

Students sometimes have a hard time finding a credit card that provides them any benefits besides a small credit line. The Bank of America card is a great place to start and it offers students rewards.

Students earn 3% cashback on a category that you choose, whether it’s groceries, dining out, or gas. Students can also earn 2% cashback on groceries, including Sam’s Club and Costco, and 1% back on everything else.

The 3% bonus category and 2% rewards can be used up to $2,500 per quarter, and then it falls to 1%, which is the perfect amount for students.

Look at the Credit Card Rewards you Need

Before you take just any credit card, determine your needs. What rewards will you use and what categories do you spend money in the most? Why not take advantage of what credit cards have to offer by finding the card that pays you back in ways you’ll use it and for purchases you already make?

If you aren’t sure which one is right for you, pull out your bank and credit card statements for the last year and total up your spending in each category to make the right choice.

Restaurant Trends for 2021 – How Restaurants will Succeed

COVID-19 has changed the way restaurants operate in a big way. In some states, they still aren’t fully operating, which leaves restaurants thinking outside the box longer than they ever thought necessary.

2021 looks like it will shape up much how 2020 ended, which means restaurant owners must continue being creative and figuring out ways to make the most of their business as it is right now.

Top Restaurant Trends for 2021

Focusing on Take-Out, Delivery, and Contactless Payments

No one knows when restaurants will open again (for indoor seating). This means all business owners must rely on take-out and delivery. Anything they can make contactless (including payments) is what will bring in the customers. Curbside delivery, online payments, and as little contact as possible are what will bring the business.

Creating a Brand for Themselves

Restaurants shouldn’t rely on just the food that they serve, but on the brand, they want to create. Think about what audience you serve. What are their pain points? What do you offer that helps them? That’s the brand you want to focus on and portray to your audience to bring in more business.

Providing Healthy Foods

Everyone loves to eat out (or order in), but today’s consumer is health conscious. You’ll still have those who love their favorite comfort foods, but including at least a few healthy foods on the menu will cater to a larger crowd.

Pop-Ups and Special Menus

Restaurants today are getting with the times and realizing many of their services may be short-lived. For example, if they can open for in-person dining, it may be for a short period. So instead, they think outside the box and have specials and limited opportunity pop-ups that bring a sense of urgency and excitement.

Online Reservations

Today consumers have to make reservations for just about everything, including any type of dining. The days of popping into a restaurant when you feel like are gone. Merchants need to adopt an easy reservation method, of which online reservations is the easiest. Whether you have a mobile app or just a website, enabling customers to reserve their time easily brings in more business.

Provide Quick Dining Opportunities

Anything you can do to make the diner’s experience contactless will take you far in 2021. Diners want to get in and get out. This includes when they’re taking the food to go. Self-service kiosks and contactless payments (online) let customers come in, get their food, and leave with little to no contact with others.

2021 is all about staying healthy. From serving healthy foods, ensuring the utmost safety precautions, and offering contactless opportunities for ordering, paying, and picking up food is important.

No one knows when the pandemic will end, but restaurants can stay strong by implementing the trends consumers want to see and that makes them feel safe. As we continue to navigate our new normal, it’s time to adapt to what’s in front of you and give your audience what they need to remain loyal.

Frequently Asked Questions

Tipping Goes Virtual as COVID19 Impacts US Restaurants

COVID-19 has affected restaurants harder than many other industries mainly due to the lack of cash flow. Not that restaurants aren’t making the money, they just make it differently. Most payments are electronic to avoid the risk of passing germs with cash (not necessarily because of the lower accessibility of it).

That leaves restaurant owners and wait staff with a problem. How do they get paid? If there’s no cash, owners have to run to the bank, which isn’t as easy as it used to be thanks to the pandemic. Wait staff, who deserve to have their tips right away, are now forced to wait, sometimes as long as two weeks until they receive their paycheck.

Fortunately, many restaurants have started tipping virtually, here’s what that means.

eTipping is an Option

Many restaurants have turned to eTipping, similar to what Uber and Lyft offer. At the end of the night when the restaurant closes out the tabs, they electronically send your tips to your bank account. You should have the funds within a day (usually less) this way.

Here’s the problem.

It doesn’t work for every restaurant or employee, for that matter. If an employee doesn’t have a traditional bank account, it could cause more trouble than it’s worth.

Pay Cards

Another more common solution is pay cards. They work like debit cards and restaurant owners can load the cards with the appropriate tips at the end of each night. Employees then have the money available on a card that they can use like a debit card.

Here’s the problem.

Not all retailers or businesses accept all cards. Many pay cards also have fees, sometimes a monthly fee and sometimes a fee for each use. This reduces an employee’s pay, which right now is the last thing anyone needs.

The Benefits of Electronic Tipping

No matter which method you choose, there are many benefits of electronic tipping including:

You don’t have to worry about cash flow. With fewer customers paying cash, you’d have to constantly run to the bank to payout tips in a timely manner.

You don’t have to resort to payroll tips. Waitstaff and bartenders are used to receiving tips the same day they earn them. Making employees wait until payday would mean putting them off for 2 weeks. This could cause bill paying problems and financial destruction.

There’s a lower risk of mistakes and theft. Dealing with cash is risky business. Withdrawing large amounts of cash and doling it out creates plenty of room for errors, misplaced cash, and even theft.

Virtual tipping isn’t as ‘new age’ as it sounds and it could be more beneficial for restaurant employees in the long run. Restaurant owners must work out the kinks, find the right program that suits their employees, and make sure it’s an easy enough system to adapt during these trying times when every aspect of our lives are changing whether we want it to or no.