Businesses today face a shifting environment when it comes to payments. This isn’t something that always necessarily stands out to us, so much as a gradual shift happening around us. But it is happening. Consumers are using cash far less than ever before; cheques hardly ever come into the equation; and in some cases even traditional credit and debit cards are being technologically altered or phased out.

Because of these and other changes, it is now vital for modern businesses to adapt. Regardless of what specific industry a business operates in, or what product or service it sells, there is always a need to accommodate consumer preferences. And today that means making sure to do the following.

Support Credit & Debit Cards

Granted, we just noted above that traditional credit and debit cards are beginning to be phased out. However, for the time being they remain many consumers’ preferred means of payment — and you might be shocked how many businesses still can’t support them! In 2013, The Independent looked into cashless payments and found that even then more than a third of UK retailers weren’t accepting credit or debit card payments. Surely more of those retailers have since made the transition. But for any that haven’t, adapting to support cards is a vital first step in modernising the payment process

Support Touchless Pay Options

For a business that hasn’t necessarily taken modern payments into account just yet, the idea of supporting touchless pay may sound somewhat complicated. The reality though is that it basically just means updating point-of-sale machines. FIS Global describes modern countertop card machines as being capable of supporting contactless transactions from popular services that include Apple Pay, Google Pay, and Samsung Pay — all while remaining equipped to handle ordinary card swipes as well. That means that with an adjustment as simple as using a new card reader, a business can open itself to the mobile scan payments that so many consumers are beginning to rely on.

Make eCommerce an Option

If you’re operating a brick-and-mortar business, or more of a private enterprise, another important step is to offer an eCommerce option. The main reason for this, naturally, is that today people are doing a lot of their shopping online; many consumers will simply feel more comfortable buying a product or service from you if they encounter it on the internet. Entrepreneur’s write-up on eCommerce businesses a few years back pointed out a few other benefits as well, however — such as the ability to earn in your sleep! Once you think of that possibility, it’s hard to deny the reality that an eCommerce branch can significantly expand your business.

Welcome Cryptocurrencies

Lastly, if you really want to give your business a modern jolt in the payments department, you might consider welcoming cryptocurrencies. While cryptos remain something of a fringe payment method, they are still gaining popularity and influence. Our article on ‘bitFlyer Launches ‘Instant Buy’’ indicated that methods are emerging to make it easier for people to acquire cryptocurrencies. And as developments like this draw more people into the crypto world, more consumers will be looking for opportunities to spend with their digital coins. Today, it’s actually fairly easy for your business to accommodate that desire. Various POS options have emerged that effectively take in crypto payments and convert them to ordinary money on your end.

By making these four adjustments, you’ll equip your business to handle most any payment preference out there. They’re easy changes to make, and they’ll likely result in more opportunities to make sales.