Macropay Reviews Online Payment Methods for SMEs
As the world adopts more digital innovations, consumer trends have started to shift. More people are beginning to prefer the convenience that online shopping brings, especially during worldwide occurrences like the COVID-19 pandemic. Because of this, small and medium-sized enterprises (SMEs) must adapt to new challenges that come with the changes in consumer behavior.
Understanding Online Customer Payments
As more SMEs bring their businesses online, the rise of online payments was inevitable. The simplicity of shopping online has made a very significant appeal to many people and has changed the way a lot of consumers shop. Additionally, it has also changed the way people paid for their purchases. However, it’s not without its fair share of challenges. Online shoppers also tend to leave their carts full without completing their purchases when the payment method of their choice is unavailable.
This means that SMEs must integrate more payment options to convert more consumers. There are many payment methods available for SMEs to integrate, but one of the most efficient types of payment technology is called alternative payment methods or APMs. APMs are known for increasing the efficiency in payment transactions, expanding the reach of businesses by providing more payment options, and most importantly, increasing the revenue of businesses.
Alternative Payment Methods
If you haven’t come across APMs, you might wonder what it means. Simply said, an APM is a form of payment that deviates from the normal cash and credit/debit card payment method. APMs provide users with more options to pay with, along with the much-needed convenience that everyone’s looking for. It lets people make payments in whatever method they prefer.
Apart from these, APMs can also benefit businesses that wish to expand their reach into a more global audience. By integrating efficient cross-border payment schemes, APMs are able to help SMEs reach international clients. A seamless payment experience is required for international purchases to increase the chance of customers returning as well. Simply put, APMs can scale your business to a global level.
Scaling a Business: Adam J Clarke
Did you know that Macropay started out as a small startup with operations in a living room? The inspiring story began in 2013 when Macropay’s Founder and CEO Adam J Clarke had the idea of making alternative payment methods more accessible to both businesses and customers.
At present, the fintech company is a million-euro company with a successful grasp of the European market. “We are experienced and knowledgeable when it comes to financial technology. Macropay started out operating in a living room. Now, we are one of the most successful FinTech in Europe,” Adam J Clarke notes.
Make the Most Out of Technology
To utilise a wide range of APMs, the best course of action is to work with firms like Macropay that provide various APMs. With Macropay, your business can scale and leverage online payment technology that suits your business and consumers’ needs. Get in touch with them for payments consultancy and to integrate APMs & Open Banking.