August edition: Going global, digital wallets and new partnerships!

Ready to take your business global? Here’s what you need to know

Expanding into international markets is an exciting opportunity, but it comes with a unique set of challenges—especially when it comes to payments. Navigating different currencies, dealing with cross-border transaction fees and facing higher payment decline rates can make global expansion complex.

This is where local acquiring becomes crucial! By processing transactions through local routes, local acquiring directly addresses these challenges. It increases payment authorisation rates by using familiar, regional networks, which reduces the risk of declined payments.

But the benefits don’t stop there—local acquiring also allows you to align with your customers’ preferred payment methods in each market. This not only enhances customer satisfaction but also significantly reduces the likelihood of abandoned purchases, making it a vital strategy for successful international growth.

Find out more in our latest blog: https://www.totalprocessing.com/grow-your-global-business-with-local-acquiring/

Digital wallets are set to surpass debit cards in three years

By 2027, digital wallets are on track to overtake debit cards in transaction volume at physical stores. Debit cards have been a staple for payments over the last decade, but digital wallets are quickly catching up. Here’s why this shift is happening:

1. Increased spending: Digital wallets make payments incredibly easy, often leading to more spending. For many, especially younger generations like Gen Z and millennials, the convenience of a quick tap means they’re spending more without even thinking about it.
2. Added features: Digital wallets aren’t just for payments anymore. They’re evolving to store driver’s licenses, passports and tickets, meeting the growing demand for multifunctional tools.
3. New uses: Nearly half of consumers are eager to explore digital wallets for new features like transferring money between accounts and setting up recurring payments.

Total Processing X A & A Associate

As summer comes to a close, we’re thrilled to share some exciting news. If you haven’t already heard, we’ve partnered with A & A Associate in the UAE! This collaboration is all about helping merchants navigate the complex regulatory landscape of setting up a business in the region. Whether you need support with payment solutions, accounting or legal and advisory services, our combined expertise is here to make the process smooth and stress-free.

If you’d like to know more about how we can support you, just reach out to our team: https://www.totalprocessing.com/contact/