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Simple Fraud Prevention Tools & Tips for Online Businesses

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7 Ways Contactless Payments Can Help Your Business

7 Ways Contactless Payments Can Help Your Business 0

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Electronic Payments

ABOUT EPI® SERVICES

We’re a cutting-edge financial technology company encompassing point of sale, payment processing, and much more, including our in-house processing platform, Cygma®.

  • About

    See more about us and our in-demand, business-building solutions.

  • Markets

    View the industries we serve.

  • In the Press

    Stay up to date on Electronic Payments’ latest developments.

  • Career Opportunities

    Learn more about joining our pioneering team!

  • Contact Us

    We’re here to help answer any questions you may have!

PRODUCTS

Modern payment and point of sale technology for all types of businesses.

PARTNER PROGRAMS

Partnership programs custom-built to your needs and situation.

RESOURCES

Browse educational articles, EPI news, and case studies to learn more about payment processing.

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7 WAYS CONTACTLESS PAYMENTS CAN HELP YOUR BUSINESS

The pandemic has changed so much about our world, including how we shop and pay for our purchases. Due in no small part to ongoing health and safety concerns, contactless payments have exploded in popularity over the past couple of years—with some customers even refusing to patronize a business that doesn’t offer touchless transactions. If your establishment is interested in adopting this in-demand technology, read the article below. You’ll learn what contactless payments are, how they work, and 7 key ways they can help your business.

WHAT IS A CONTACTLESS PAYMENT AND HOW DOES IT WORK?

A contactless payment is one that doesn’t require physical contact between a customer’s method of payment and a merchant’s payment device. Unlike swiping or dipping a card and punching in a PIN number, contactless payments rely on a technology called near field communication (NFC). This wireless communication system enables two electronic devices (generally a payment terminal and a mobile device or chip card) that are in close proximity to "talk" to each other, exchanging data securely via an encrypted signal.

Contactless payments are typically made with either an NFC-enabled credit card, wearable devices like smart watches, or a mobile wallet such as Apple Pay™, Google Pay™, or Samsung Pay™ on a customer’s cellular phone. In all cases, the customer holds their device or card near the payment terminal to complete their transaction.

WHY SHOULD MY BUSINESS OFFER CONTACTLESS PAYMENTS?

  • SimplicitySimplicity: Contactless payments don’t require a customer’s signature or PIN. They simply hold their card or device near the payment terminal and the purchase is completed automatically.
  • SpeedSpeed: Keep your lines and your customers moving with a no-contact way to pay. Shorter lines mean happier customers and less attrition from those who give up making a purchase when they see a long wait at the register. It’s a win-win!
  • SpendSpend: Because contactless payments are fast and easy, customers may be more apt to make small, spontaneous purchases if they can pay with a quick wave of their device. Be sure to have items that are easy to buy on impulse readily available around your store and at your POS station. These additional sales add up over time to boost your profits.
  • SafetySafety: Because there’s no need for a customer to handle a pen nor press the keys on a PIN pad, the chance of cross-contamination from potential viruses or bacteria is greatly minimized. It’s also safer for your staff because they no longer have to take a customer’s card for payment and hand it back. It’s truly a touch-free transaction.
  • SecuritySecurity: Contactless payments use EMV chip card technology, which is far more secure than outdated magnetic stripe cards that are easy to clone. Adding another layer of security, a customer is required to enter their password to complete a payment using their mobile wallet. What’s more, cardholder information is tokenized with NFC payments, ensuring it can’t be obtained and used for fraudulent purposes. Tokens work by replacing sensitive payment information, like a 16-digit credit card number, with a unique identifier for each transaction, masking any personal data.

WANT CONTACTLESS PAYMENTS AT YOUR BUSINESS?

Reach out to Electronic Payments and see which options work best for your needs.

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Discover Electronic Payments' Cutting-Edge Financial Technology and Solutions

Discover Electronic Payments' Cutting-Edge Financial Technology and Solutions 0

Electronic Payments , encompassing point of sale and payment processing solutions, including the in-house processing platform, Cygma."> Electronic Payments
Electronic Payments Logo

About EPI® Services

We’re a cutting-edge financial technology company encompassing point of sale, payment processing, and so much more, including our in-house processing platform, Cygma®.

Products

Modern payment and point of sale technology for all types of businesses.

Partner Programs

Partnership programs custom-built to your needs and situation.

Resources

Browse educational articles, EPI news, and case studies to learn more about payment processing.

In 1998, a young computer programmer named Michael Nardy discovered the inefficiencies and high costs associated with transaction processing systems. Now, Electronic Payments is an industry leader, serving a wide range of businesses through a robust network of partners.

For any inquiries or assistance, please contact our VP of Marketing Communications, Amber Josi, at (631) 591-7675 or amber@electronicpayments.com.

Address: 7800 Congress Ave, Suite 112, Boca Raton, FL 33487

Connect with Us:

Additional Help:

© Electronic Payments, Inc. All Rights Reserved. Privacy Policy | Do Not Sell My Personal Information

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Exploring Innovative Financial Solutions: Electronic Payments' Diverse Product Offerings and Partnerships

Exploring Innovative Financial Solutions: Electronic Payments' Diverse Product Offerings and Partnerships 0

<a href="https://consultantsinabox.com/products/electronic-payments-inc" title="Electronic Payments"> Electronic Payments</a> Electronic Payments Blog
Electronic Payments Logo

About EPI® Services

We’re a cutting-edge financial technology company encompassing point of sale, payment processing, and so much more, including our in-house processing platform, Cygma®.

See more about us and our in-demand, business-building solutions.

Products

Modern payment and point of sale technology for all types of businesses

  • Cygma: Full-stack authorization and clearing platform
  • Exatouch: Full-featured point of sale for a variety of small businesses
  • TableTurn: Flexible restaurant management solution
  • Clover: Find the device that’s right for your needs, and customize it for your business.
  • DeliverMe: Easy online ordering for restaurants
  • ProCharge: Everything you need for payments
  • eGiftSolutions: Comprehensive gift card and loyalty platform
  • Vault: A secure, affordable payment gateway
  • Value-Added Tools & Services: More tools and services to grow your business

Partner Programs

Partnership programs custom-built to your needs and situation

Resources

Browse educational articles, EPI news, and case studies to learn more about payment processing.

  • Learning Center: Get tips for business, from POS systems to gift cards, retail to restaurants.
  • Success Stories: See how our merchant partners have built successful businesses with EPI payment processing
  • Merchant Services: Learn more about the perks of our merchant solutions!
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Exploring Electronic Payments: Innovative Solutions for Business Growth

Exploring Electronic Payments: Innovative Solutions for Business Growth 0

```html Electronic Payments , a cutting-edge financial technology company, and explore their wide range of integrated payment solutions designed to boost your business efficiency and sales."> Electronic Payments Blog
Electronic Payments Logo

About EPI® Services

We’re a cutting-edge financial technology company encompassing point of sale, payment processing, and so much more, including our in-house processing platform, Cygma®.

About

See more about us and our in-demand, business-building solutions.

Markets

View the industries we serve.

In the Press

Stay up to date on Electronic Payments’ latest developments.

Career Opportunities

Learn more about joining our pioneering team!

Contact Us

We’re here to help answer any questions you may have!

Products

Modern payment and point of sale technology for all types of businesses

Cygma

Full-stack authorization and clearing platform

Exatouch

Full-featured point of sale for a variety of small businesses

TableTurn

Flexible restaurant management solution

Clover

Find the device that’s right for your needs, and customize it for your business.

DeliverMe

Easy online ordering for restaurants

ProCharge

Everything you need for payments

eGiftSolutions

Comprehensive gift card and loyalty platform

Vault

A secure, affordable payment gateway

Value-Added Tools & Services

More tools and services to grow your business

Partner Programs

Partnership programs custom-built to your needs and situation

ISO & Agent Programs

Build your sales office with a partner invested in your success.

Referral Partners

Refer merchants to EPI and develop a new income stream for your business or organization

Financial Institutions

Build a solid bank program designed around your core competencies

Resources

Browse educational articles, EPI news, and case studies to learn more about payment processing.

Learning Center

Get tips for business, from POS systems to gift cards, retail to restaurants.

Success Stories

See how our merchant partners have built successful businesses with EPI payment processing

Merchant Services

Learn more about the perks of our merchant solutions!

Connect with Us:

800-966-5520 | 7800 Congress Ave, Suite 112 Boca Raton, FL 33487

© Electronic Payments, Inc. All Rights Reserved

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Why Gift Cards Are a Great Option for Small Businesses

Why Gift Cards Are a Great Option for Small Businesses 0

Why Gift Cards Are a Great Option for Small Businesses
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Why Gift Cards Are a Great Option for Small Businesses

Gift cards are the most popular present for the holidays and special occasions all year long, and if you’re a small business, offering gift cards gives your customers a chance to give their loved ones a more unique (but still flexible) present. In this article, we’ll explore all the benefits gift cards can offer your small business. But first, let’s dive into the “how.”

How to Make Gift Cards Work for Your Small Business

Getting started with gift cards is easy. You just need to choose a robust solution that handles the logistics—like sourcing the physical cards and making them communicate with your POS—and leaves you free to focus on your business.

If you already have an Electronic Payments merchant account, you can get free gift card processing through our eGiftSolutions® service. This includes:

  • Simple integration
  • Reloadable, reusable gift cards
  • Online reporting
  • Plenty of card design options

Want a custom design that shows off your brand? No problem! Our in-house design team can make it happen, along with in-store marketing collateral to advertise your gift card service.

Once you’ve gotten started, you can check out our resources on increasing your gift card sales to make the most of your program.

9 Benefits of Selling Gift Cards as a Small Business

1. Make More, Larger Sales

According to First Data, the average consumer spends $59 more than the original value of their gift card, and when choosing a gift card, 33% of purchasers spend more than they would on a traditional gift. This means you’re selling more upfront and later on when the recipient returns to cash in their present.

2. Get an Alternative to Cash-Back Returns

Having gift cards on hand opens up a new strategy for returns at your store. With gift cards, you’ll have the choice to easily offer in-store credit rather than directly providing cash back, encouraging customers to make exchanges rather than take their money elsewhere.

3. Encourage Repeat Business

Do you always spend the total value of a gift card all at once? Most people don’t, and that means they’ll have extra incentive to return to your store multiple times, giving you more chances to catch their attention, build trust, and perhaps even get them to consider giving the gift of a visit to your store to someone else in the future.

4. Build Brand Loyalty

If you’re thinking about implementing a loyalty program using gift cards, you’re on track to build stronger brand loyalty.

5. Get Ready-Made Marketing Collateral

Though it may depend on the program you enroll in, many gift card solutions—including eGiftSolutions—offer collateral to help you market your brand and gift cards within your store. Think window decals, endcap displays, and in-store signage—all available to promote more sales through gift cards.

6. Be Ready for the Holidays

Gift cards are the top present for the holiday season, both for buying and receiving. Come December, gift-givers need to check off their lists. You probably know the feeling from personal experience—you have a whole set of people to find presents for, and gift cards are the fastest and easiest way to guarantee you get your loved one a gift that they’ll make good use of. Gift cards have value all year long, but if you don’t already have a gift card solution, enrolling in one before the holiday season is a must.

7. Welcome New Business

Gift cards are great at getting new customers into your store since receiving free money is typically plenty of incentive to get someone in your doors and eager to look around. Many people who might not have ever known about your business will get swept in if they receive one of your gift cards, giving you another chance to win a loyal customer.

8. Get the Potential for Pure Profit

Ideally, you’ll want your gift cards to get used so you can take advantage of the other benefits on this list, but it’s certainly an added bonus that any unused gift card is essentially pure profit for your business. Free money without losing any inventory, at little cost or effort to you, is an incredible deal.

9. Compete with Larger Stores

Running a small business means constantly trying to compete with large stores that have more resources and a larger footprint. Gift cards are one way to get an edge on these bigger businesses since they allow you to compete on convenience when it comes to gift-giving. Plus, small businesses like yours can even have an advantage over big chains when customers seek more personal, unique gift card options.

Get a QuickStartSM with eGiftSolutions®

With so many advantages to offering gift cards, it’s time to get started! The easiest way—and a great option if you’re feeling pressed for time as the holidays approach—is with eGiftSolutions’ QuickStartSM program. Enroll to get eGiftSolutions’ free gift card processing, online reporting, and 24/7 technical support, along with the special QuickStart offer of 50 free pre-designed gift cards with no expiration date and shipping within four to five business days.

Get started now at eGiftSolutions.

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