Published in AFP Exchange March 2009
The payments industry has been evolving rapidly, presenting merchants with new and alternative payment products or methods. Research shows that adding more payment options leads to higher conversion rates. According to a CyberSource survey, merchants that accept three or more alternatives can see up to a 14% lift in sales conversion. Consumers indicate that given an equivalent product and price, accepting a payment type they prefer is a key influencer in their purchase decision.
Unleashing the Power of Interchange Optimization: Maximizing Cost Savings in Payment Processing
For businesses that accept card payments, interchange fees are a significant component of the overall cost structure. Interchange optimization has emerged as the most critical strategic approach to minimize these fees and unlock substantial cost savings. In this...
