Businesses adapting an online storefront was already normal even before the pandemic. In this Macropay review, let us look closely at the online business boom.
A Retail Success Story
Having an online site worked really well for certain stores, especially when the products they sell fall under the “essentials” category. The less time people spend outside their homes, the more time they spend online. This transcends to spending more time shopping online than in physical stores.
Something can also be said about the brands that generate millions in online sales; people trust their products. Products that generally did well in stores did even better online. Overall, this is a win for the retail industry.
The Rise of Online Payments
Online payment technology has allowed businesses to thrive and consumers to shop at the comfort of their homes. The online business or e-commerce boom also urged the creation of the following revolutionary online payment technology.
Alternative Payment Methods
Alternative payment methods or APMs are any form of payment which isn’t through cash or a credit card issued by major banks. Mobile payments, eWallets and bank transfers are all examples of alternative payment methods that can be used for transactions.
Instead of just providing more choice for customers, APMs can also help reduce the number and types of fees that merchants are charged. Along with localising in new foreign markets, you will find it easy to expand your business into other countries due an increase in convenience.
Open Banking
The idea of open banking has been gaining momentum in recent years. It’s a practice that provides third-party financial service providers access to consumer bank data, such as transactions and account balances.
With Open banking, consumers will have access to new insights that help people and businesses manage their money. Services can also be personalized or tailored for an individual’s financial behaviors.
Buy Now, Pay Later
Buy now, pay later schemes are a great way to get what you want without paying for it right away. Some offers give 30 days while others offer up 12 months as their payment term.
This is great news for people who are struggling financially. If you use “buy now, pay later” carefully, it’s possible to delay paying for something months or even a year without incurring any interest charges!
In Review: Macropay’s Payment Technology
Macropay is a successful FinTech company that offers various services and products. Their APM gateway and open banking technology creates the best value for business owners. They provide businesses the tools to create seamless payment experiences for their customers.
On top of their technology, Macropay also offers expert payments advisory. This includes matching your business with the best payment method that will help you reach your goals.
To learn more about this European fintech, visit their website here. You can also speak to their experts directly through here.
