Just as the industrial revolution changed cities, workers and business across the globe, so too has the disruption of the web. Online businesses are growing by leaps and bounds and the demarcation line between markets is becoming a faint memory. The new market is not interested in political boundaries between markets or taking time to get the goods into the marketplace.
As the pace of business increases, the ability to make global payment services the center for all financial transactions grows as well. But as with all change, we are bound to have a price to pay for this growth. Just what will the big disruptors be for the global market today? We think these three global payment service disruptors will also be golden opportunities for the right businesses. How will your company take advantage of these opportunities for growth in the new world market?
The Migration from Cash to E-Payments
We are already seeing the impact that this has on the growing e-commerce market. In time this will become as common in the marketplace as credit cards and debit cards have become today when compared to as little as fifty years ago. Electronic payment from smartphones and through online global payment services for B2B transactions will become common quickly.
If you have a business that is capable of making the shift, you will be the one to not only survive the change but thrive on it. Companies that take advantage of this shift by making their business e-payment friendly will find they can turn their financial transactions around quickly and make better use of their cash flow.
Adopt or Perish
While this may have been the watchword of the business world in the start of the electronic age, it has never been truer then it is today. If your business cannot adapt to the new normal of doing business in the world of the web, with electronic transactions taking over where cash once ruled, you will soon be left behind in your competitor’s dust.
While loyalty will buy you time, it will only go so far. When small nimble companies make the adjustments that larger businesses cannot make, we will see the emergence of a new class of business that can shift with the winds of change and adapt to whatever is needed in today’s business world. The way financial transactions are done, making use of global payment services in the new world market will be the litmus test for the survival of the fittest.
Delivering Innovative Global Payment Services that Add Value
The competition is going to be fierce and the companies that can delivery the services their customers demand with an added value of convenience or security will be the winners. If you can deliver within 24 hours from their computer, soon you will need to deliver within four hours from their smartphone. Amazon is a good example of a company that continues to find new ways to add value to the customer purchasing experience.
What will your business do to deliver the goods not only as your customer wants them and when they want them, but also exceed all expectations of good customer service? If everyone offers the same red shoes, why buy them from you? In the end it is the added value of great customer service that will mark the winners of this race.