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The Digital Transformation of Mode of Payment

digital transformation of mode of payment

Digital Transformation initiatives are the #1 concern in 2021 as the companies are experiencing challenges in improving customer experience, increasing productivity and elevating profitability. Advancement in technology has drastically changed money and payment system. Today, retail customers can transfer funds and apply for loans from their mobile devices at almost any time and virtually any place. Direct debit, credit card processing, mobile money, e-Check and advanced business technology has made financial transactions possible from any remote working place.

The need for payments’ digital transformation is escalating because of the pandemic and consumers desire to maintain social distance. Consumers have the desire to avoid traditional in-store payment options that require physical contact with paper bills or POS terminals. This trend is driven by consumers who put pressure on businesses, who then put pressure on the banks. Digital transformation is growing, and real-time payments are gaining trust as the use of virtual credit card terminals continues to rise. CloudBanking is focused on making payment modernisation and deliver high-quality experiences and value-added services, such as instant payment processing. ​

digital transformation

As the pandemic triggered a mass migration to online channels, the CloudBanking platform is focused on discovering how payments systematise can help businesses enhance the efficiency of their payments processes to help sustain long term growth. The need for digital security has never been more paramount than during the COVID-19 crisis. With more consumers going online to shop, businesses are expanding their digital capabilities to meet the growing demand for digital commerce. CloudBanking platform can help businesses to take precautionary measures to secure their customers’ data and allow them to focus on their core competencies. As the result of increased fraud in Credit and debit card, digital payment processing can help keep customers’ data safe.​​

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    ACCOUNTING SERVICES

    Run fast, accurate, and automated accounting processes through Cloud Banking’s white label portal for accountants. Simply ask your customers to log on to your dashboard so you can download all their statements and reports—making it easier for you to do their taxes. Likewise, you can make sure that our platform can help you streamline everything from financial consolidation to compliance reporting and audits.

    Our innovative payment solutions can easily be integrated into your existing accounting, invoicing, and billing software so you can get paid faster and more secure. Interested? Start by talking to one of our business specialists today.

    HIGH RISK

    Are you in the high-risk vertical market? Getting tired of looking for a reliable payment solution for a high-risk industry? Don’t worry! CloudBanking got you covered.

    We understand that banks and low-risk providers may instantly turn down merchant accounts who they deem industries with a history of high chargebacks, irregular high ticket sales, or that are highly regulated. Thus, finding a high-risk payment processing solution that keeps high-risk businesses running efficiently might be a daunting, frustrating process. This is all the more true for the CBD oil industry. However, CloudBanking understands that your business model works for you. We believe in your business’ desire to help the community and we’re committed to providing top-rated services.

    Thus, we go the extra mile to ensure your business’ security and efficient cash flow. We provide tailored solutions and features because we understand your unique needs. You can now offer your customers a smooth and seamless journey with our innovative payment solution for high-risk industries.

    HEALTH AND WELLNESS

    Focus on what matters most to your business—your customers. And allow CloudBanking to take care of your payments. Our payment solution for the health and wellness industry will be your trusted partner in improving your customer experience. With our innovative platform engineered to accept all kinds of payments and provide the security, you need; we can guarantee you streamlined business operation.

    In the ever-changing global marketplace, make your business at the forefront of innovation to give your customers the best customer experience. Trust that our payment solution for health and wellness is here to help you meet your customers’ expectations while improving your cash flow. Contact us today to experience the difference.

    FIELD SERVICES

    Are you one of the small or mid-sized businesses in the field service industry having trouble collecting payments? And are you tired of all the waiting and hassles? Then, it’s time for you to adopt a phone- and cloud-based payment solution for field services that will improve your cash flow and accuracy. Allow your field services staff to accept payment on-site so they can focus on the next job.

    Level up in the game field by offering a cutting-edge payment solution for field services that will assist you in meeting your needs and improving your bottom line. Contact us to know how we can be your trusted partner in getting paid faster and secure.

    RETAIL

    The retail environment has evolved rapidly in the past years. To keep with the pace and increase your bottom line, you need to integrate a platform providing a full suite of card payment systems that fully satisfies the needs of you and your customers. CloudBanking’s payment solution for retail industry is here to help you stay in the game and be more competitive.

    Powered with the latest technology, our credit card processing solutions allow retailers to accept any form of card payments such as credit cards, debit cards, and EMV-compliant cards. Our payment solution for retail industry can help you effortlessly manage your point-of-sale transactions while you boost your retail sales.

    PROFESSIONAL

    CloudBanking offers a customized payment solution for professional services companies, such as law firms, insurance agencies, and accounting firms. Our platform is designed to provide you a safe, convenient, and secure way to accept your service fees and lessen the administrative cost related to payment processing.

    We understand that your business’ payment processing needs are unique. So you can’t just rely on any payment processing platform to manage your cash flow. You need a trusted partner to receive payments fast, secure, and easy. Enjoy this hassle-free process when you integrate our payment solution for the professional services industry.