Sphere + ACN

Technology was a major part of 2020 as merchants rapidly adapted to a business environment that was turned upside down. As we look ahead to 2021, merchants will benefit from modernizing their payment methods. Here are three trends to watch:

  1. Digital Ways to Pay: Experts predict that mobile payment volume will reach an estimated $503 billion USD by the end of 2020. Consumers are regularly paying from the palm of their hand and this trend will only increase. Text to pay, QR code payments, online are all popular ways to pay.
  2. Security: In the wake of the COVID-19 pandemic, fraudulent activity and scams have been on the rise. Businesses will need to rigorously monitor accounts and be vigilant for online scams. In-person payments will continue to see advancements in biometric security for identification and authentication.
  3. Less Cash: Consumers have turned to avoiding cash more than ever in favor of electronic, credit card payment methods for personal safety and convenience. Businesses will increase the adoption of contactless payment options via terminals that accept Apple Pay, Google Pay, and NFC capabilities.

The Sphere team is available to answer questions and help you grow! Make sure to reach out!

Remember – when you acquire a Sphere customer you are on your way to qualifying for a Monthly Customer Bonus! Earn up to 3 points for each Sphere customer! See ACN Compass for full details.