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Education

whether it fills gaps and addresses concerns merchants 6. Ecommerce payment solutions. Many merchants
are dealing with today. Here are my top recommendations: are adding or expanding online stores. This is the time
to enable merchants to move businesses online.
1. Online ordering solutions. Merchants want to
save money by offering their own online ordering 7. Working capital solutions. Examples include asset-
while also integrating to the popular online ordering based loans, invoice factoring, equipment leasing and
providers. credit lines—products that will provide liquidity,
restructure debt at better rates and expand availability
2. Contactless payment solutions. No one wants to to funds.
touch money now; expect big increases in contactless
transaction volumes. 8. POS financing. Merchants want to increase
ticket size and make their goods and services more
3. Surcharging/cash discounting. Merchants want affordable. Customers want to conserve their open
to save money in these times, and customers want to credit and pay over time. POS financing is a great
support local businesses. solution to help both meet their needs.
4. Cloud-based POS. Merchants on legacy systems The days of the traditional sales model are gone; adapt, or
may need to update to current technology that your business and portfolio will fade away.
provides data analytics, automated backups and
remote access.
Marc Beauchamp is author of Survive and Thrive in the Merchant
5. B2B interchange optimization. Businesses continue Services Industry and founder of Bankcard Life, a community for pay-
to sell to other businesses. Interchange optimization is ments professionals. He is offering a free copy of his book to all payments
a perfect tool help them save money on level 2 and 3 professionals at www.bankcardlife.com/greensheet. Marc welcomes
card transactions, while maintaining profit margins. your comments and feedback at marcb@surviveandthrive.biz.

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