How Businesses Can Thrive In the Wake of Cashless Cities and Subscription Sites

The world is going urban, and that’s not changing anytime soon. The UN projects 68% of the global population will be city dwellers by 2050, up from only 30% in 1950. Populations are rapidly concentrating and smartphones adoption are commonplace. That’s leading to expansive smart city initiatives globally, involving everything from public WiFi to autonomous shuttles to cashless economies. Cashless transactions are now ubiquitous and, especially in urban areas, are the new norm. In the United Kingdom, two-thirds of transactions are now done electronically. There are opportunities here for businesses to embrace this change and make changes that are wins for themselves and their customers. Improve your customer service experience Physical money comes with some significant downsides: Cash handling errors […]

How to Decide on Pay-as-You-Go vs. Subscription Models

Ten years ago, the subscription model was rare. Pay-as-you-go structures for products and services were one of the most popular ways to conduct business. Netflix was mailing DVDs and an actual, physical newspaper wasn’t seen as quaint. But today, things have changed. With so many companies charging a subscription for their services, from streaming media to beauty boxes to dog food, shoppers are now much more familiar with the subscription business model. New distribution models that didn’t exist ten (or even five) years ago are now common. Consumers are flocking to subscription-based products and services for: Convenience Reliability Waste Reduction But is a subscription model the right move for your company? Below, we break down the pros and cons of […]

Does My Subscription Business Need a Merchant Account?

As we move to a cashless society, and especially when you are a subscription business owner, accepting credit cards is a no-brainer. (When was the last time you carried cash in your wallet, or somehow beamed it to Amazon for your latest audiobook, right?) Technically, your business can process credit cards whether or not you have an associated merchant account…but do you want to? There’s confusion around the payment back end, especially for startups and first-time business owners. So, how do you know if you need a merchant account? To make the best decision for your business, read on. You’ll learn: What a merchant account is and how it works How a merchant account works The benefits of a merchant […]