Credit Card Processing Blog

From Amazon acquiring Whole Foods to meal kits turning down $400 million acquisition offers, the grocery industry is getting more competitive than ever. Because there's so much activity within this industry, we want to share five valuable lessons that any business owner can learn from: Physical Retail Still Matters Online shopping continues to grow at a very fast pace. And while some traditional retailers are really struggling, that doesn't mean everyone wants to make 100% of their purchases online. Consumer preferences are shifting towards a hybrid mix of online and offline, which is why the best companies within the grocery space are working hard to give consumers great ways to buy through both channels. Adapt or Become Obsolete As mentioned above, there are a number of traditional grocers and other retailers that have really struggled with consumer preferences moving towards online and mobile experiences. Some of these retailers have already gone under, and all signs point towards this happening with many more over the next couple of years. The big lesson for your business is to avoid getting too comfortable… Read more

Over the last few years, we've talked about a number of different payment technologies. Some of these technologies have become quite prevalent while others have remained more experimental. Because everyone from startups to the biggest processors continue to push forward with new technology concepts, we want to dive into one that seems to have a good amount of traction. That specific technology is PIN on glass. This technology is focused on solving a very common problem, which is when a merchant has a debit card reader but not a pad for entering PINs. The solution PIN on glass offers is enabling any smartphone or other mobile device with a screen to be used as a keypad for entering a PIN. What's the Appeal of PIN on Glass? There are a few reasons why many merchants and payment providers are excited about this technology. The first factor that appeals to merchants is the ability to accept PIN debit cards without needing to purchase any additional equipment. By being able to accept and process these payments, merchants can take advantage of the… Read more

Given all the concerns surrounding physical retail, investors have been on edge with a lot of recent earnings announcements. We've already covered the fact that Walmart's stock took a big hit after they shared their earnings. So, it probably won't come as a surprise that the stock of one of their closest competitors took a bit of a tumble as well. While Target's stock dipped by around 5%, digging deeper into what they shared actually reveals a lot of interesting information. Because Target’s overall performance is quite good in the face of a lot of uncertainty, we want to share five key takeaways from their earnings announcement, along with the lessons you can takeaway for your own business: Comparable Sales Growth Target's increase for comparable sales was 3.6%. What this shows is as long as you give consumers a compelling reason to visit stores in person, they're still completely willing to do exactly that. Solid eCommerce Growth Where Target saw a lot of growth was online. Posting an annual figure of 25%, this metric makes it clear that there's still… Read more

When Walmart acquired Jet in August of 2016, there was a lot of talk about building synergy between the two companies. While Jet continues to perform very well, Walmart hit a recent stumbling block in their ecommerce pursuit. Unlike their biggest rival Amazon, who just posted another round of blockbuster results, Walmart's stock recently took its biggest hit in over two years. The reason for this drop was their earnings report. Specifically, Walmart reported that their online sales grew at a far slower rate than they did previously. What Caused the Slowdown? Since investors obviously wanted to know why Walmart experienced an ecommerce slump, the company's CFO said they "had a few operational issues from an inventory replenishment perspective.” Although he didn't discuss the matter any further, it's not hard to see that ever-increasing competition likely played a role as well. In just the last year, Amazon made its huge Whole Foods acquisition and pushed forward a number of initiatives, ranging from Alexa to exploring healthcare. Given how dialed in Amazon is with their ecommerce retail business, it's not hard… Read more

In recent years, the media has spent a lot of time covering millennials. We've actually done the same. You can learn about how millennials are shopping and paying, as well as five of the best millennial marketing tips. Part of why this generation has received so much media attention is because they were coming of age when the Great Recession hit. As a result, they had to face a lot of harsh realities, like moving back in with their parents after college or taking on incredible amounts of student loans. While millennials are still a very influential group, it seems like they've been hitting their stride. That includes settling into predictable lifestyle habits. Because millennials have been looked at so closely, we want to shift the focus a little -- on to Generation Z. Gen Z is just starting to see some signs of the media attention millennials have had for so long, so you're not alone if your understanding of this group is a little more hazy. But by the time you finish reading, you'll be much more up to speed.… Read more