13 Apr These 4 Payment Technologies are Helping Businesses Adapt in the Age of COVID-19
This is an unprecedented and challenging time for individuals and businesses alike. In just 3 weeks, nearly 17 million American workers, 11% of the total labor force, have filed initial unemployment claims. Many businesses have been forced to close, some of them permanently. In dark times like these, innovation and creativity are more important than ever. Here’s how people in the U.S. are utilizing payment technology to support their businesses, their communities, and each other in the face of the COVID-19 pandemic.
Peer-to-Peer (P2P) Payment Platforms
Apps like Venmo, PayPal, and Zelle allow people to easily transfer money back and forth without needing to visit a bank, write a check, or even see the other person. With P2P payment apps, the only thing you need to send or request money is a username, so it’s easy to see why these apps have grown in popularity as the rise of COVID-19 has more and more people staying at home. And P2P payment apps aren’t just quick, secure, and convenient. Most of them are free—a definite bonus in these trying times. With COVID-19 leading to financial hardship for people around the country, P2P payment apps are being used to facilitate fundraising, supply “advanced tips” or appreciation contributions, and even by some small business owners to collect payments remotely.
Point of Sale (POS)
Innovative point of sale systems, like Clover, empower retail businesses to quickly and seamlessly transition their operations to accommodate a business landscape fundamentally altered by the COVID-19 pandemic. This is all possible because of a flexible suite of features and applications. Restaurants are pivoting to delivery and pick-up orders only, with apps like OrderOut and Chowly. To limit staff and customer exposure, retailers deemed essential are scheduling appointments with Appointments Pro and encouraging contactless payments—where a consumer simply has to “tap” to pay, allowing them to avoid contact with potentially contaminated surfaces.
Countless businesses have been hit hard by closures and reduced revenue, and many of them are turning to gift cards to bridge that divide. Selling gift cards online allows small businesses to generate revenue while providing a social distancing-friendly alternative for consumers that want to support their favorite merchants. Encourage your friends and family to do their holiday shopping early and load up on gift cards. Besides, who doesn’t like looking forward to brighter days, when we’ll be able to go out and actually use them?
A virtual terminal turns your laptop, desktop, tablet, or smartphone into a payment processing hub—no additional devices required! If your business needs to process cards remotely, a virtual terminal might be the answer. This solution gives you the flexibility and convenience of processing payments wherever you are. Just login to the payment portal and you’re ready for business anytime, anywhere.
Click here to learn more about what our proprietary payment gateway, iQ Pro, can do for you.
In times of hardship, businesses that innovate will be in the best position to open their doors again when this is all over. As we face COVID-19, payment technology offers an opportunity to carry on with commerce in new and diverse ways.
Whether you are a current BASYS customer or not, contact us to learn how these payment technologies can help you reduce expenses, and continue to bring in revenue during these challenging times. We’re here to help.
BASYS Processing as a business partner
Does your current processor understand the unique struggles of your industry? Do they provide great rates and excellent customer service? Are they offering solutions to grow your business and being pro-active about helping you reduce risk and increase your savings? Contact BASYS today to learn more about innovative payment solutions that will save you time and money. We make accepting debit cards and credit cards convenient, safe & affordable.
BASYS Processing features:
– Live operator when you call support – no automated voice systems
– Dedicated Relationship Manager for questions and concerns
– Quick response time for your questions and concerns; you are a priority
– Family owned since our founding in 2002
– A+ BBB rating
– 90% + Customer Retention Rate
– Proactive contact with every merchant to walk through the annual PCI process
– In-house PCI Team to assist with questions and concerns
– Solutions including terminals, virtual terminals, e-commerce, mobile, and point of sale
– EMV compliant products
– Reporting for customer, sales, and inventory management
– Gift and loyalty card programs
– Easy-to-read statements
– Transparent pricing
– Tremendous savings
About BASYS Processing
BASYS Processing provides credit card and debit card processing services, and solutions that include terminals, virtual terminals, e-commerce, mobile, and point-of-sale, customized to fit any need. Banks, associations, and software partners depend on us to strengthen their reputations and relationships with their customers by providing remarkable service paired with ultimate flexibility and pricing. Merchants depend on us to make accepting credit cards and debit cards convenient, safe & affordable. BASYS was founded in 2002 on one philosophy: to take care of our merchants, partners, and employees so they never want to leave. We are dedicated to working one-on-one with our customers to design the perfect solution. BASYS is Personalized Payment Processing.
Learn more at basyspro.com, and connect with us online at: