Credit Card Processing Company Priority Payments in the News, Continued
Our credit card processing company has had the honor of being acknowledged by several publications this past year. For information on how COVID-19 has impacted the e-commerce industry and what you can do about it, how to improve customer service at your auto dealership, the impact COVID played on the fintech gap, and more, read on.
Investment Watch Blog
This blog is known for bringing readers content on finance, the economy, politics, world news, current events, investment news, and more. In a November 20 article, our Chief Operating Officer Angelo Mendola offered his insight into how COVID-19 has impacted the e-commerce industry. We’ve included his quote below. This article also offers advice on what e-commerce businesses can do to help boost business during the pandemic.
Accelerated Shift Towards Online Shopping
Data from IBM’s U.S. Retail Index shows that the COVID-19 crisis accelerated the shift away from brick-and-mortar stores to online shopping by about five years. Another survey shows that 62% of consumers around the world shop for products online more now than before the coronavirus pandemic.
With millions of people being forced to isolate and stay at home to contain the virus, consumers have turned to e-commerce platforms to purchase essential items. For retailers that had to adopt or ramp up online purchasing, payment processing solutions quickly became a must-have in their business infrastructure.
Retailers have had to embrace omnichannel fulfillment and quickly adjust their strategies in order to survive in the new business environment. According to Angelo Mendola, President and Chief Operating Officer of Priority Payment Systems Local, a new shift in the online sales space has been within the restaurant industry.
“Due to the restaurant industry being one of the industries that has been hit the hardest, restauranters have had to get creative. Since they can’t fill all their seats, some are now moving toward selling products online such as wine and meal delivery kits, as they should be,” he said. “Prior to COVID-19, very few restaurants embraced this opportunity but now, more and more are willing to do whatever it takes to keep their doors open,” Mendola added.<br>
Read the full article: How COVID-19 Has Impacted the E-Commerce Industry
Green Sheet
On December 2, the credit card processing and fintech leading industry publication known as Green Sheet launched the announcement of our partnership with Valor PayTech to provide merchants with integrated gateway solutions.The announcement features why we partnered with Valor PayTech and how merchants can benefit from it.
For Angelo Mendola, President and Chief Operating Officer of Priority Payments Local, providing merchants with solutions that fit their unique business needs has been a priority. “We are always on the lookout for payment processing solutions that can better assist our merchants and offer an enormous hardware and gateway suite. Each solution has its perks, but unlike them, Valor PayTech offers an all-in-one-solution,” he said.
Read the full article: 5 Tips for Choosing the Best Gateway Payment Provider
Automobile Reviews
A top concern for auto dealers is customer service. Consumers already don’t like going to the auto dealership due to haggling and how long it can take. In his December 11 article, writer Nikolai Kalenski offers insight into what auto dealerships can do to improve customer service:1. Make the experience personal
2. Add payment options
In fact, according to Angelo Mendola, the COO of Priority Payments Local, “Some people hate going to an auto dealership because they could end up spending what seems like all day at one. By accepting credit cards and other types of payments that are convenient, you can get our customers in and out of your dealership faster, thus, saving them time.”
Look to increase your payment options by allowing cash, credit cards, check, or electronic transfers from all your customers.
3. Provide multiple communications channels
4. Hire the right staff
5. Offer perks
6. Gather feedback
7. Go above and beyond
Read the full article: Improving Customer Service at Your Auto Dealership
Tech Times
Tech Times brings readers news on the latest developments and innovation in the technology, science, and health industries. While headquartered in NYC, it has a team of editors and writers who are located around the world.
On December 24 writer Ernest Hamilton included our credit card processing company in his article on the impact COVID has played on payment solutions creating a fintech gap.
In some cases, however, the COVID pandemic has increased the need for digital payment solutions, like MXTM QuickBooks Sync, because online payments allows for greater social distancing.
“Manually tracking sales data can become an accounting nightmare,” Angelo Mendola, COO of Priority Payments Local, explained. “With MXTM QuickBooks Sync, merchants can synchronize financial data from the MXTM Merchant payment platform to Intuit’s QuickBooks Online tool.”
This is an example of filling FinTech gaps ushered in by COVID, and the COVID guidelines and restrictions enacted by state and federal governments.
Contactless payments are essential during the pandemic as well. The need for contactless payments within food delivery and pickup is another major gap that has been a focus for payment solutions companies, according to an Accenture study.
Read the article: Impact of COVID on Payment Solutions Creates FinTech Gap
[Read part one: Priority Payments Local 2020 Press Features]
