With all of the challenges SMBs have faced in 2020, we explore how payments can keep them healthy as they close out the year.
2020. A year that many of us wish would end quickly so we can start fresh again in 2021 with a renewed sense of hope and optimism.
Yet, we still have 6 weeks left. With many businesses struggling under continued COVID health restrictions and reduced revenue, the holiday season is viewed with uncertainty. For retail and restaurants, the ability to compete with online businesses, and families that are now spending more time at home cooking meals, the approaching season can cause significant doubts.
Yet, according to the NPD Group, a national research and analytics group, a new study revealed that 40% of consumers will buy more gifts this year as a way to bring joy to their lives and 3 out of 10 consumers are spending more this year since their travel and hospitality expenses have declined over the past 8 months.
With those statistics as a backdrop, new payment acceptance options can lead the way to a profitable last quarter and a great start for 2021. Businesses of all sizes should consider implementing the following payment processing recommendations:
With increased payment and purchase options, the holiday season could be better than expected for retail and restaurants. Attracting and keeping customers loyal during this time will ensure a smooth, successful transition into 2021.
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