Key takeaways from his appearance on Beyond the Transaction
In the latest episode of Beyond the Transaction, we delve deep into the world of payments with seasoned expert Pat McCammon. With a career spanning decades in the payments industry, Pat brings a wealth of knowledge and expertise to the table, offering invaluable insights for businesses navigating the complex terrain of transactions.
In this episode, Pat shares his insights on understanding the multifaceted nature of payments, from the perspectives of consumers and merchants alike. He explores the challenges and opportunities facing small to medium-sized businesses in the payments industry, providing practical strategies for success in an ever-evolving market.
Looking ahead, Pat provides a glimpse into the future of payments, highlighting emerging trends and innovations set to transform the industry. From the rise of contactless payments to the growing importance of social media shopping, Pat offers valuable insights for businesses looking to stay ahead of the curve.
Throughout the episode, Pat emphasises the importance of transparency, reliability, and customer journey when choosing a payments provider. By prioritising and evaluating these key factors, businesses can ensure a seamless payment experience for their customers and drive growth in an increasingly competitive market.
The three key recommendations for choosing the right payment provider:
- Transparency The importance of transparency reveals itself when it comes to fees associated with different forms of acceptance, such as “12 months free” schemes and understanding their offering of merchant services fees. He advises business owners to thoroughly question and understand these fees from their potential provider. If the intended provider is cagey or purposefully inconspicuous, might not be the right fit for your business.
- Reliability Another crucial factor is the reliability of the payment provider. Pat suggests selecting a provider with a strong service level agreement (SLA) to ensure uninterrupted transactions and minimal downtime.
- Customer Journey Lastly, Pat highlights the significance of enhancing the customer journey. He suggests that successful retailers choose providers who offer terminals designed to streamline the checkout process and improve overall customer experience.
Pat’s got the secrets to deciphering fees, avoiding surcharging misunderstandings, and why those “free” eftpos terminals might not be so liberating after all. So, join us, settle in, and get ready to navigate the payments landscape with confidence.
Don’t miss out on these engaging and enlightening episodes. You can listen to them right here, on our website. Explore the podcast player below and immerse yourself in the world of business decisions – and remember, it’s about going beyond transactions and crafting extraordinary brand experiences. Join us as we venture Beyond the Transaction!
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