Latest news with #Mastercard
Time Business News
6 hours ago
- Business
- Time Business News
How Do Payment Methods Correlate to Customer Satisfaction?
The way customers pay can significantly influence how they perceive your business. Limited or outdated payment systems can lead to frustration, while fast, secure, and flexible options can make shopping feel effortless and enjoyable. Whether you run an online store or a brick-and-mortar location, the right payment setup enhances the overall customer experience. Explore how offering the right payment methods correlates to customer satisfaction. Customers feel more comfortable when they see payment options they know and trust. Popular choices like credit cards, PayPal, and Apple Pay make checkout feel smooth and secure. If your business only accepts cash or less common methods, you risk losing potential sales. Display accepted payment logos—such as Visa, Mastercard, or Google Pay—on your storefront and website to reassure customers that their preferred method is available. For online stores, integrate widely used digital wallets and ensure your checkout process is intuitive. In-store, use terminals that support contactless payments for added speed and convenience. Train staff to assist customers who may be unsure about their options. While setting up these systems, be mindful of things like merchant account fees, which can vary by provider and impact your bottom line. Familiar, easy-to-use payment methods reduce hesitation and help customers focus on their purchase, not the process. Speed matters—especially at checkout. Long lines or slow systems can quickly sour the shopping experience. Credit cards, tap-to-pay options, and mobile apps like Google Pay or Apple Pay help move transactions along quickly. For in-store purchases, invest in reliable card readers and test them regularly to avoid delays. Online, streamline the checkout process with one-click payment options and saved card details. If a payment fails, provide clear, helpful error messages to guide the customer. Train your team to handle payments efficiently and troubleshoot issues on the spot. In fast-paced environments like cafés or retail shops, quick transactions keep lines moving and customers happy. When payments are seamless, shoppers feel valued—and are more likely to return. Flexible payment options like Buy Now, Pay Later (BNPL) services can make higher-priced items more accessible and appealing. Platforms like Klarna or Afterpay allow customers to split purchases into manageable installments, reducing financial pressure. Clearly promote these options at checkout, both in-store and online, and ensure the terms are transparent. For e-commerce, integrating BNPL into your payment gateway can help convert hesitant shoppers. Subscription billing is another great option for recurring purchases—just make sure to offer multiple payment methods, such as credit cards or bank transfers. Flexibility shows that you understand your customers' needs and are willing to meet them where they are. When people feel financially empowered, they're more likely to complete a purchase and return in the future. Security is a top concern for today's consumers. Offering safe, reliable payment methods builds trust and encourages repeat business. Use encrypted chip readers and tokenized digital wallets to protect sensitive data. Display security badges—like PCI compliance or SSL certification—on your website and at checkout to reassure customers. Ensure your site uses HTTPS for all transactions and offer credit card options with built-in buyer protection. Train employees to handle payment information responsibly and avoid storing sensitive data. If a customer expresses concern, be ready to explain your security measures clearly and confidently. Especially for high-value purchases or online orders, a secure payment process can be the deciding factor in whether someone completes a transaction. Today's consumers expect modern, tech-friendly payment options. Digital wallets, contactless cards, and mobile apps are now standard for many shoppers. If your business only accepts cash or checks, you may lose customers to competitors with more flexible systems. Offer widely used methods like Apple Pay, Venmo, and even cryptocurrency if it fits your audience. Make these options visible through signage or website banners. Upgrade your in-store terminals to support contactless and QR code payments, which are especially popular with younger, tech-savvy shoppers. Staying current with payment trends shows that your business is forward-thinking and customer-focused. When people can pay the way they prefer, they feel understood—and that builds loyalty. Payment options do more than process transactions—they shape the entire customer experience. Familiar methods build comfort and trust. Fast, seamless checkouts reduce frustration. Flexible plans make purchases more accessible. Secure systems protect data and reinforce confidence. And staying up to date with modern trends keeps your business competitive. By prioritizing convenience, flexibility, and security, you create a payment experience that supports customer satisfaction and long-term success. TIME BUSINESS NEWS
Phone Arena
18 hours ago
- Business
- Phone Arena
Samsung's new useful Tap to Transfer feature starts rolling out today
Earlier this month we told you that Samsung was going to bring a feature called Tap to Transfer to Galaxy users in the U.S. Today, Samsung announced that Tap to Transfer is now rolling out. This allows a Samsung Galaxy user to send money to the bank account of a friend or family member associated with a debit card in their digital wallet that has been issued by Mastercard or Visa. If your friend or family member uses Samsung Wallet, Apple Wallet, or Google Wallet, Tap to Transfer will send the money to the recipient without you having to install a third-party payment app. With NFC (Near Field Communications) enabled on both phones, just tap them and within minutes the transfer will take place. For a limited time, Samsung will not charge any fees for using Tap to Transfer although by pointing this out, it seems obvious that Samsung will eventually tack a fee onto the amount of the funds transferred. You can even send money directly to a Mastercard or Visa debit card by tapping your phone directly with the card. The chip embedded in the debit card will allow you to make the transfer even if the other party doesn't use a digital wallet. How to use Tap to Transfer rolling out starting today to Samsung Galaxy handsets. | Image credit-Samsung If the recipient isn't with you but is somewhere in the U.S., you can still send them money by using the Online Transfer tab in Samsung Wallet. The other person must be using Samsung Wallet for this option. Find the recipient in your contacts and with the phone number associated with the Mastercard or Visa debit card in their Samsung Wallet, you can send funds directly to their bank account. The minimum transaction allowed is $1 and the maximum transaction size is $500. The daily transaction limit is $500 and no more than 10 transactions are allowed over a 24-hour period. The weekly transaction limit is $1,500 with no more than 50 transactions allowed over a 7-day period. The monthly transaction limit is $7,000 with no more than 50 transactions permitted to take place in a 30-day period. Samsung says that you can use Tap to Transfer in the following scenarios: Pay a friend back for last week's dinner Receive money from a group of friends to buy concert tickets Collect payment from people not in the user's contact list by directly tapping their debit card onto the user's phone Send funds to others regardless of location by simply searching for their Samsung account All U.S. domestic Samsung phones that are "Samsung Wallet eligible" and have Android 12 or later installed can use Tap to Transfer.
Finextra
a day ago
- Business
- Finextra
Mastercard launches small business programme
Mastercard today launched Mastercard Small Business Navigator, a program designed to equip U.S. entrepreneurs with the tools, data and education they need to fuel and protect their passion and growth. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. Small and medium-sized enterprises (SMEs) represent more than 99% of U.S. businesses1 and are the beating heart of local economies. For the people behind them, running a small business is more than a job – it's their passion; 50% of small business owners in North America define prosperity as feeling fulfilled in their career and enjoying their work, while 51% say it means doing what they love every day.2 Mastercard tools and resources are built to simplify and fortify daily operations, so small business owners can focus on opening their doors each day to serve their customers and enrich their communities. Mastercard Small Business Navigator is a new curated offering of education, insights, protection, and planning tools to help entrepreneurs grow and thrive with confidence. 'Small businesses are the backbone of our economy, and they deserve more than just encouragement — they need real, actionable support,' said Ginger Siegel, head of Small Business in the U.S. at Mastercard. 'With Small Business Navigator, we're delivering a powerful combination of insights, protection and financial tools that help business owners build toward long-term success.' By uniting data, digital tools and offers3 across three core areas, Small Business Navigator is built to help small businesses work smarter, stay safer, and grow stronger. Knowledge and insights: Business owners get information they need to make smarter decisions, including: An AI-powered chatbot that acts as a mentor by answering questions and guiding small businesses through their most pressing business challenges Access to actionable insights and data from The Mastercard Economics Institute and Mastercard SpendingPulse™ reports with state-level consumer spending trends Educational content from Mastercard and partners such as Square, covering cybersecurity, marketing, and digital tools like tap-on-phone payments Security and protection: Small businesses can stay ahead of threats with simple, practical, powerful cybersecurity tools: Access to My Cyber Risk powered by RiskRecon, providing prioritized guidance to help small businesses strengthen their defenses3 A personalized report with recommendations tailored to each business based on their individual Cybersecurity Assessment Quiz results Financial empowerment and rewards: Entrepreneurs receive the tools and exposure to help grow, including: Access to Biz2Credit's Virtual CFO services, filling an often unmet need of financial planning and cost management support The opportunity to be featured on Mastercard's social media channels as part of our ongoing spotlight on small businesses Rohit Arora, CEO and co-founder at Biz2Credit and Biz2X, said: 'We're proud to support Mastercard's Small Business Navigator initiative. According to data from the Federal Reserve, small businesses report falling short of having their full financial needs met due to limited financial resources, impacting everything from cash flow to long-term planning. Our published research with BCG also shows that many entrepreneurs lack formal financial management systems. With the Biz2Credit Virtual CFO platform, we're helping business owners build financial confidence, make smarter decisions, and grow sustainably.' The launch of Mastercard Small Business Navigator reinforces Mastercard's leadership in delivering tangible, trusted solutions that go beyond payments, supporting small businesses at every stage of their journey. It also aligns with Mastercard's broader mission to build a more inclusive digital economy through innovation, trust and partnership. * Products and offers subject to terms and conditions, and subject to change. [1] See the data behind America's small businesses. | U.S. Chamber of Commerce [2] Mastercard Proprietary Powering Prosperity Entrepreneur Research, 2024 [3] All solutions and offers are subject to terms and conditions, and are subject to change
Time of India
a day ago
- Business
- Time of India
Wall Street turned into a dance floor for this unbelievable Indian wedding. Who are the bride and groom?
Varun Navani, CEO of AI platform Rolai and a Forbes 30 Under 30 honoree, married Amanda Soll, a legal compliance director at Mastercard, in a lavish multi-day wedding in New York City. Their celebration included a traditional Indian baraat that temporarily shut down Wall Street, drawing crowds and going viral online. The Boston-based couple hosted events across several venues, including Cipriani Wall Street and The Glasshouse, blending Indian and Jewish wedding traditions. Tired of too many ads? Remove Ads Meet the Couple: Accomplished Professionals from Boston Luxury and Tradition Combine Across Multiple Events Tired of too many ads? Remove Ads Major Permits and Costs for a Major Celebration A grand Indian wedding took over Manhattan's Financial District last weekend, as the traditional baraat—a jubilant wedding procession—brought a full stop to the usually fast-paced Wall Street. The couple behind the widely circulated social media spectacle was identified as Varun Navani and Amanda Soll, both accomplished professionals based in gathered in the hundreds, dressed in glittering traditional attire, while music from a live DJ set the tone for an unforgettable celebration. The groom's arrival was marked by dancing, music, and vibrant decor, with videos showing onlookers visibly stunned by the transformation of Wall Street into a scene of celebration and Navani, originally from Gujarat, India, is the founder and CEO of Rolai, an enterprise artificial intelligence platform designed to help users master data analytics and machine learning. According to his professional background, Navani was recognized in Forbes 30 Under 30 Boston list in 2023 for his work in education and AI bride, Amanda Soll, works as the director of legal compliance and risk management at Mastercard. According to their LinkedIn profiles and confirmed through their wedding page on The Knot, the couple resides in Boston and chose New York City to host their multi-day wedding wedding kicked off on May 23 and stretched over four days, beginning with breakfast and afternoon tea at the Conrad Hotel. That evening, a sangeet—a music and dance celebration—was held at The headline event took place Saturday, when the baraat commenced at 3:30 p.m., followed by a grand reception at Cipriani Wall Street. For this traditional Indian wedding procession, Navani wore an ivory sherwani adorned with layered pearl necklaces. He arrived in a vintage white car, surrounded by friends and family dancing along the historic street. Soll wore a ruby red lehenga by famed Indian designer Sabyasachi Mukherjee, paired with gold jewelry and soft glam Wall Street, the reception venue, hosted guests from 5:30 p.m. until 2 a.m., continuing the celebratory mood into the early hours. The party resumed on Sunday with a Jewish wedding ceremony at the same location and an after-party at Slate, which lasted until 4 a.m. The events concluded Monday with a farewell brunch and wedding did more than just draw attention; it also demanded substantial planning and resources. The couple filed a total of 28 permits with the city, with each area closure in the Financial District estimated to cost between $25,000 and $66,000. According to city classifications, the baraat was labeled as an 'extra-large' event due to its size and logistical requirements, which included full block closures and NYPD speculation online about their wealth, the couple are not celebrities or billionaires—but their credentials and professional standing reflect the success that allowed for such a and Soll's wedding served as both a celebration of love and a cultural display that captivated locals and social media alike. With their blend of Indian and Jewish traditions, high-end fashion, and a major metropolitan backdrop, the couple created an unforgettable moment that briefly turned Wall Street into a place of joy, color, and cultural pride.
Skift
a day ago
- Business
- Skift
Summer Travel's Winners: Japan, Live Tourism, and Biz Travel
Despite talk of financial pressure, many are continuing to spend on summer travel. Many people plan to continue spending on travel this summer, even though some say they have concerns about affordability. That's the message from this month's wave of summer travel forecasts from travel brands and data providers – we reviewed 11 forecasts in all. Japan is leading with trending international destinations. Tokyo, followed closely by Osaka, gained the most share of overall international flight bookings versus last year, according to the Mastercard Economics Institute. Paris came in third. Vacationers say they are thinking carefully about their travel spending this summer, but some business travelers are hitting the road more often. More than half of travelers expect to be more price-conscious, with inflation the number one reason affecting travel decisions, according to a Wakefield Research poll of 11,000 consumers in 11 countries that was sponsored by Expedia. Global business travel continues to improve. Navan's data revealed business travel bookings for summer 2025 are strong, with flights booked through its travel management software up 10% year-over-year and up 25% year-over-year. U.S. Inbound Travel Uncertainty The U.S. domestic outlook is relatively strong. But the World Travel & Tourism Council (WTTC) warned that the U.S. could lose $12.5 billion in international visitor spending this year. According to its study, the U.S. is the only country among 184 economies analyzed which is forecast to see international visitor spending decline in 2025. However, it is still too early to have hard data confirming a year-over-year drop in overall inbound international tourism. Skift Research recently wrote that "U.S. tourism would be damaged but continue to expand" if President Trump continued to target allies - and potential international visitors. It estimated that the U.S. travel sector might see a shortfall based on previous projected income in the magnitude of between $30 billion and $90 billion for the year. Some companies predict travel demand will be about the same as last year, yet their surveys also suggest widespread financial anxiety. About 70% of Americans said they planned summer travel in a survey done by Bank of America. Nearly 70% of Americans said they didn't feel confident about vacationing due to money concerns, in a survey by Ipsos sponsored by Allianz Partners, a travel insurance provider. Reality check: Both can't be fully accurate. However, a few emerging trends in types of trips are suggestive of how the summer may unfold. Events and Experiences Prioritized Americans are traveling for ticketed events, with at least one planned for this year among 63% of Americans, Allianz data showed. Mastercard's data also found that sports and meaningful experiences are big drivers. Major events happening this summer include FIFA Club World Cup, a tournament of the top 32 teams around the globe competing in the U.S. starting June 15. Lollapalooza, one of the most popular U.S. music festivals, with 400,000 attendees, is also this summer. In the UK, there is one of Europe's top three music festivals, Glastonbury which about 210,000 people attend. Priceline cited the Red Rocks Summer Concert Series in Denver and San Francisco's festival season – including August's Outside Lands Festival – as two of the top three most-searched events. For context, see Skift's megatrend 2025 Is the Year Live Tourism Becomes Unstoppable. Shifts in the Mix of Trips? Bank of America's research shows income is determining destination choices. Lower-income travelers increasingly stay domestic with road trips preferred, while middle and higher-income travelers are more likely to venture internationally. Trips lasting only one or two nights are a continuing trend. A Deloitte survey found that 41% of vacationers plan to take a trip of three nights or fewer this year, compared with 37% last year. Campspot, a booking platform for campgrounds, said more than 90% of travelers are planning short pop-up escapes (1–3 nights, budget-friendly, within 200 miles) and that about half of them are planning more short trips than in previous years.
