FDIC: Bank Profits Dropped 36.5 Percent In 2020 The Federal Deposit Insurance Commission or FDIC report says that United States banks saw significantly lower profits in 2020 than in 2019. Banks had earnings of about $147.9 billion in 2020. While the value might seem massive, the tally is 36.5 percent less than they had in […]
FDIC: Bank Profits Dropped 36.5 Percent In 2020 Read More »
The COVID-19 pandemic has caused immense harm to many industries. Many places are unable to open, and the ones that can open are doing so with significant restrictions. There’s also the concern of people not feeling comfortable returning to certain public places for fear of the spread of COVID-19. However, the restaurant and hospitality rebound
As the pandemic continues and more people turn to online shopping versus running into local convenience stores, the industry has seen a decline of almost 2 percent since 2019. Consumer spending habits changed drastically as everyone tries to stay safe. Fortunately, smart tech helps keep convenience stores relevant in society by thinking outside the box
Smart Tech Keeps Convenience Stores Relevant as Industry Declines Read More »
As we near the one-year anniversary of the pandemic, it’s apparent that the latest payment trends that took place at swift speeds are here to stay. The most common changes businesses are implementing include contactless payments, ‘buy now, pay later’ options, and increased security protection. In short, small and micro businesses need to cater to
COVID-19 Payment Trends Are Here to Stay, Says Visa Read More »
The Paycheck Protection Program is back and supposedly better than before, helping small businesses stay open during the pandemic. If you didn’t make the first cut or were confused by what was required and/or offered, here’s your second chance to get funds to help you stay afloat. Here’s what you need to know. The Requirements
PPP Round Two: What You Need to Know Read More »
COVID-19 has affected restaurants harder than many other industries mainly due to the lack of cash flow. Not that restaurants aren’t making the money, they just make it differently. Most payments are electronic to avoid the risk of passing germs with cash (not necessarily because of the lower accessibility of it). That leaves restaurant owners
Tipping Goes Virtual as COVID19 Impacts US Restaurants Read More »
Today, shopping retail and even picking up food at a restaurant looks different. Most customers prefer contactless payments and curbside pickup. They are the norm – they are expected. Contactless payments are just one more way to reduce the risk of sharing the virus. With less cash flowing around, the risk lessens, especially when consumers
COVID19 Drives Adoption of Contactless Payments and Curbside Pickup Read More »
This is an article about how Merchants can succeed during the 2020 Holidays
Top Ways Merchants Can Succeed During the Holidays in 2020 Read More »
Contactless payments allow consumers to pay for goods or services without needing to physically swipe a card in a machine or pass the card to another person. By tapping a phone or card on or near a terminal, near-field communication (NFC) enables the consumer to transmit payment information without physically touching anything. For a variety
Everything You Need to Know About Contactless Payments During COVID-19 Read More »
The Coronavirus pandemic has been wreaking havoc on the hospitality industry worldwide. However, some unexpected casualties are on their way for the US as a surprisingly large percentage of its restaurants decline and are forced to shutter their doors permanently. Due to a mix of lockdowns and social distancing restrictions, many restaurants have frantically tried
How Will the Pandemic Change the Landscape for Restaurants in the US? Read More »
How Is COVID-19 Transforming E-Commerce Merchants? There is no doubt COVID-19 has redefined our life, and its impact could, presumably, last for years. The way we socialize, work, and function has rapidly changed, and so has our buying behavior. Online shopping has become the new norm as consumers are finding it safer and more reliable.
How Is COVID-19 Transforming E-Commerce Merchants? Read More »
As the effects of the pandemic continue, we’ll likely see more changes in the retail industry. Retail merchants had to make major changes while the economy was shut down, but those changes may continue. Retailers need to adapt to what consumers want and what the economy allows. Today, that means a lot more e-tailing than
Retail Merchant Trends for 2020 Read More »
PPP funds disappeared in as little as 2 weeks when first released. The relaunch occurred on May 11, allowing more small merchants to take advantage. But, today the funds still exist and applications for the help are slowing down. What are PPP Funds? If you haven’t heard, PPP funds or the Paycheck Protection Program is
PPP Funds Still Available yet Applications Slowing Down [2023 Update] Read More »