Payment processing allows for transactions to be quick and effective. Information is sent securely from merchant terminals to consumer banks, and back, in a matter of seconds.
These systems handle all communication between issuing banks, credit card networks, and financial institutions — and they do it without requiring the cashier or customer to understand or get involved in the process. This ensures a more streamlined customer journey and experience. With e-commerce and digital transactions increasing, payment processing is no longer a helpful tool, but a necessity — especially when preparing a digital storefront for peak season.
According to Deloitte’s trends and insights report for 2025, checks are gradually moving to extinction, and the use of cash is declining. Credit and debit card transactions, including peer-to-peer (P2P) transactions, will continue to grow in place of check payments. In the US, digital payments have now surpassed traditional payment methods, with 9 in 10 consumers reported to have made a digital payment in 2024.
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