Helping SMBs Fill In The Payments Piece Of The Digital-First Puzzle

Millions of eyes will be on the Super Bowl kickoff Sunday. And there may be a kickoff of a different sort that same day, where small businesses, wrestling with the pandemic’s headwinds and challenges, may begin their digital payments journeys.As announced this week, on Feb. 7, which of course is Super Bowl Sunday, Visa’s Authorize.net will partially waive its transactional fees and completely waive its monthly gateway account fees to reduce the costs for smaller businesses based in North America that want to accept digital payments. Visa has said those costs can approach $10,000 for smaller firms.Michele Herron, senior vice president, strategy, marketing and SMB segment leader at Visa, told Karen Webster that the promotion would help companies move more fully online to meet their customers’ payment preferences and expectations. In its announcement, the company said that, in partnership with the NFL, the payment management platform would waive the gateway fee (which is charged monthly) for the life of these new accounts, and transactional fees will be waived for the first 100,000 transactions.The promotion comes as the pandemic has altered the very way small businesses interact with their end customers.  » Read More