Welcome to Sekure Merchant Services Business Resource Blog
Just over one year ago, COVID-19 rocked the foundations of communities spanning the globe. No touchpoint in our lives has remained unaltered, and those changes have continued to evolve nearly daily ever since. No group has been more impacted by the ever-changing health and safety regulations than American small business owners who have pivoted and adapted to overcome hurdles scattered across the economic landscape.
As merchants spend more time selling online and less time in-store, they run the risk of leaving their brick-and-mortar business open to break-ins. Case in point: as of the fall of 2020, Philadelphia saw commercial burglaries soar 134%—an increase of over 1,300 incidents compared to 2019. The uptick in commercial break-ins is no coincidence—people are sheltering in place and working from home, so criminals are looking for other opportunities to make a quick buck. Here are a few ways you can protect your business from theft and vandalism during the pandemic.
Improvements in technology come at a dizzying speed and merchants must keep up in order to satisfy the needs and expectations of their customers. Slow loading times and multi-step checkout will prompt consumers to shop elsewhere online. Moreover, the need for contactless and digital payment options has become critical in an age altered by the novel coronavirus, Covid-19.
As you have likely noticed, contactless payments are having a moment in the U.S. While consumer trends have been moving from cash to tap for some time, the pandemic has only accelerated the progression. People don’t want to handle cash and input PINs (nor do merchants, presumably): they would rather use contactless options—with health and safety as the main drivers. As for merchants, contactless payments provide a host of benefits that go well beyond health considerations. After vaccines are rolled out, and it’s back to business as usual, companies will want to continue enabling contactless capabilities for a number of reasons.
As the economy continues to suffer due to Covid-19 closures, consumers struggling under their own financial burdens are committing 'friendly fraud' by exploiting the charge back function intended to protect consumers. There has been an overall increase in chargebacks of 23% since the lockdown began in March. Learn how to minimize risk of chargebacks for your business.