Without payment processing, most businesses wouldn’t be able to function (the exception being cash-only businesses, which are rare these days!). According to Statista, credit cards were the most common form of payment made at POS systems in the U.S. in 2023, followed by debit cards. What’s interesting to note is that mobile wallet payments surpassed cash as the third most common form of POS system payments, and they’re predicted to overcome debit card payments by 2027.
As the way customers pay continues to evolve with technology, payment processing platforms will be more essential for businesses.
Payment processors enable companies to accept a range of payment types, which not only creates a better customer experience but also helps maintain the business's cash flow. Plus, having a reliable payment processor keeps your payment process efficient and seamless, so you don’t have to worry about payment issues for either you or your customers. Source
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