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Payment technology: A payments partner with technology know-how

For Hispanic or Latino merchants entering the market as
an ally to Hispanic business owners, a trusted payments partner with the
requisite experience is key to navigating the process of
or Latino-owned implementing POS technology and understanding how to
best meet customers' payments preferences. Partners with
expertise in supporting independent, small businesses can
businesses also offer guidance on the latest options available and help
owners decide which solutions are best suited for them.

By Afshin Yazdian Whether in-store, online or in the increasingly omnichannel
Paysafe world, the latest payment technology combined with
consulting can help match the appropriate POS technology
ollowing Hispanic Heritage Month in the United with each type of business:
States, celebrated from Sept. 15 to Oct. 15, 2022, • For brick-and-mortar merchants, this can range from
entrepreneurship within the community is grow- fixed payment terminals to mobile POS that offers
F ing faster than ever before, with the numbers full functionality to power the checkout experience
highlighting this expansion in representation. from anywhere within a store, empowering employ-
ees to serve customers directly, not just at the reg-
According to the Small Business Administration, the 400,000 ister. By employing mobile-compatible software that
to 450,000 Hispanic-owned businesses in the United States transforms smartphone devices and tablets into an
generated over $470 billion for the U.S. economy in 2020. autonomous POS system, store operators can help
And nearly one in four new businesses is Hispanic-owned. reduce wait times, optimize staff time and speed up
the checkout process.
There are several ways that payment processors can expand
beyond simply providing a service to power everyday • For online businesses, efficient processing through a
business and serve as allies to this growing merchant reliable payment processing platform results in the
segment. fast frictionless transactions customers across all
segments have come to expect.
Accepting all the ways consumers prefer to pay
¿Hablas español? Bilingual merchant services
Checkout technology has advanced significantly over the
past decade. This surge in innovation has been empowering Business owners certainly appreciate doing business in
merchants to provide customers with the ways in which their primary language. The end-to-end merchant journey
they prefer to pay at checkout. is enhanced by bilingual support through the entire
onboarding, set-up, and ongoing support process. Whether
To be successful, Hispanic or Latino-owned businesses working with reselling partners or processing merchants,
need to understand which solutions to offer. This is bilingual teams make a difference in all areas of the sales
imperative when it comes to building a strong customer cycle.
base—particularly across diverse segments. Options
range from financially inclusive methods, such as cash, to Payments can ultimately optimize the continued growth
efficient card processing through modern POS terminals of Hispanic and Latino-owned businesses—from reducing
and contactless means. costs to increasing profits, which is especially important
in times of inflation and economic uncertainty. Plus, by
Consumers are increasingly gravitating toward tap-to- offering customers a prime checkout experience, they are
pay solutions. Paysafe's How are U.S. consumers paying in- more likely to be loyal, ultimately resulting in business
store? report revealed two-thirds (67 percent) of consumers success. We should all look forward to seeing the bounty
regularly make contactless payments with their credit or this segment is going to bring.
debit card.
Afshin Yazdian, president, merchant solutions at Paysafe, joined the
Business owners and managers also appreciate the modern company in 2020 and leads a global team focused on providing process-
efficiencies enabled by new and emerging payment ing solutions to hundreds of thousands of merchants around the world.
technology—such as compliant and insight-based sales Afshin brings extensive leadership experience with fintech organizations
reporting, inventory management, data collection, to this role. Before joining Paysafe, he held the role of president and CEO
transactional reconciliation, and even fraud prevention— of New York-based Cynergy Data until its merger with Priority Technology
within a single platform. Holdings in 2014; thereafter he continued as president of the combined
companies. Connect with him via LinkedIn at https://www.linkedin.com/
in/afshin-yazdian-04b2b34/.

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