With customers increasingly using tap-and-go (contactless) payments in-store and shopping more online, payments acceptance costs are rising rapidly. This also means that payments systems reliability has become even more critical.
New payment features such as least-cost routing (also known as merchant choice routing, smart routing or tap and save), new payment types (Apple Pay, Samsung Pay, Google Pay, AliPay, Azupay, POLi), and new payment forms (smart phones, smart watches, QR codes), create opportunities but increase complexity at the same time.
This makes it an ideal time to check out the different payments service provider options available in the market. However, working through the myriad of different options can be difficult particularly with all the variations in pricing structures and the different ways that least-cost routing can be implemented. This is where a payments industry expert like Payments Consulting Network can make a significant difference in achieving the best outcome for organisations seeking to optimise payments acceptance costs and functionality.