Global Payment Processing
We live in a world that is more connected than ever. But the leading connector is not social media or even worldwide travel: our wallets are meeting more businesses than we are meeting people. In 2020, over 1 billion credit card payments were processed every day. The number of transactions continues to increase.
As the world becomes more integrated, many international travelers run into the issue of processing funds from different banks across continents, as well as credit cards being flagged for fraud. This creates friction for both the traveler and the business, as both lose out on the abandoned purchase. However, digital wallets present a seamless, easy solution to this problem, providing new opportunities for revenue streams and markets.
What is Global Payment Processing?
A rising trend for several years now, global payments are any transaction that occurs between the customer’s bank and the business’ bank that do not reside in the same country. A global payment processor is a third party business that helps make these global transactions go much more smoothly. These processors aren’t confined to a specific bank or region, which allows them to escape fees or waiting periods. Instead, they can instantly and easily transfer the money from customer to business regardless of location or currency.
Digital Wallets: The Best Global Payment Processors
Even if you’ve never heard the term digital wallet before, you’ve probably heard some of their names. PayPal, Venmo, Alipay, Klarna, and KakaoPay are just a few of the world’s most popular digital wallets. They can hold all of a consumer’s credit card or bank information for use at any time or place, as long as the business accepts them. Digital wallets use one-time QR-codes and tokenization methods to ensure no one gets ahold of your customers’ bank information, making them far more secure than credit cards. And, there are no fees or barriers to using them internationally, giving even more incentive for consumers to use them and businesses to accept them.
Digital wallets are rising in popularity across the world, especially among international travelers. The only downside is that there are so many of them, and not every business accepts all of the different digital wallets. And some don’t take any. There’s nothing more discouraging for a customer than going into a store, finding the perfect item, and then finding out that the business doesn’t accept their digital wallet. That’s where Pockyt comes in.
Accept Digital Wallets and Reach More Consumers
Pockyt is an integration into your company’s current point of sale system that allows customers to use their global payment preference or digital wallet of choice with you. This tool is seamless to integrate into any business. It can fit into your existing bank and transaction platforms at little cost to you. And, since it supports a growing number of global digital wallets, virtually any customer can buy from you.
Pockyt eliminates any hassle you or a customer could have using a digital wallet in the purchase process, whether in person or online. Customers from all over the world can buy from you without worrying about credit cards, currencies, or fees. Your business can enter a new global market without losing any revenue or spending precious resources on a new system. It’s a win-win solution for everyone.
We’d love to help your business grow with Pockyt! Get in touch with us today to learn how we can help you integrate our tool and bring your business to new heights.