New Digital Innovations for Small Business Growth
There continues to be a significant shift toward innovations that remove the “red tape and friction” around cash flow.
These “red tape, and friction” innovations come with three (3) key tenants in mind:
1.) Improve an owners ability to access cash flow - faster!
2.) Expand upon an ability to sell, track, and report on sales.
3.) Enhance overall customer experience.
What makes these innovations so vital, and what impact can these have for you in 2022?
Over the past few years, it’s true — some businesses held off on accepting credit cards. Their actions were a by-product of different times. For some it was purely designed to avoid “fees”, while others had difficulty in reporting, or challenges with adopting new technologies. Today, however, these innovations are catching more and more interest from these holdovers because they’ve become easier to adopt and they are much more prevalent. Doing so, …has even been proven to lift businesses to new heights.
According to an innovation report done by PYMNTS.com, "Credit card acceptance allows buyers to access one of their preferred payment methods as well as help the Small Business expand. Sellers, on the other hand, now get a better handle on their cash flows by gaining faster access to their payments.”
Even the White House administration has made it an imperative to “unlock new opportunities to help small businesses grow and compete by providing resources to establish loan and equity programs that support entrepreneurs”.
Credit cards and "No-touch" payments are at the epicenter of delightful customer experiences. With a variety of use cases to explore, there is no better time than now to discuss your Customer Experience transformation!
Common Use Cases
QR code deployments (Storefront, Store Assistance, In the Store, On the table, On the product)
Integrated payments (eCommerce, Video Gaming, Food Delivery, Product & Service Websites)
Touch & Go Payments (So many to choose from — think AirBnB, Best Buy, Dunkin', Exxon, JetBlue StubHub, Whole Foods)
Per Visa, "An overwhelming 82% of SMBs surveyed said they plan to accept some form of digital option in 2022 and 73% see accepting new forms of payments as fundamental to their business growth.”
Any questions? Please visit our website at coalitioncx.com. Follow us on Instagram @coalition.cx.
Sources:
https://www.pymnts.com/news/b2b-payments/2022/b2c-developments-fuel-b2b-innovation/
https://www.whitehouse.gov/briefing-room/presidential-actions/2022/04/29/a-proclamation-on-national-small-business-week-2022/
https://usa.visa.com/about-visa/newsroom/press-releases.releaseId.18711.html