Let’s face it: the financial world is changing quickly.
It used to be that a lot of the fundamental aspects of finance changed with every generation – now they seem to be changing every year, based on the way that technology is rapidly changing how we approach money and payments.
One way that you can see that is with new payment paradigms that make our old systems obsolete and almost unrecognizable over time. Digital systems have broken the models that we used to use for doing business, and that process seems, in some ways, ongoing.
Paper Checks
One of these dinosaurs that’s going the way of the dodo bird is the paper check. Yes, we still use these for some kinds of bill payments or other paper transactions, but companies are going electronic, and the old paper check systems are tied to traditional bank accounts and fiat currencies that are not very open to innovation in and of themselves.
There’s every chance that the next generation is going to end up saying “what’s a bad check?”
People of a certain age remember when shop owners had to post up paper checks on the wall behind the counter, because people came in writing checks that their bank accounts couldn’t handle.
This triggered all kinds of transaction fees, not to mention legal charges landing people in jail. Then, paper checks began to be phased out by card payment systems.
These days, you’re more likely to come into a store and insert the card into a tablet or some kind of new point-of-sale device, and sign your signature on the screen and be done. PoS systems are just one aspect of a changing world.
New Payment Facilitation Systems
Amaryllis helps businesses to meet the challenges of this disruptive age, with our white label payment facilitation services that rival new processes like PayPal and Venmo, giving our clients new ways to work toward modernization.
Unlike many other types of payment services, our system works on a non-custodial basis – rather than replacing how you do merchandising transactions, it provides a gateway and a system that orients all of the transactional data in modern and up-to-date ways.
When your business needs new solutions, we can help. Learn more on the web site about how AmaryllisPay represents a uniquely important option for companies that want to revamp, remodel and renovate payment and financial systems for the demands of years to come. We help our clients to solve the issues that keep them from moving to the next level when it comes to versatile workflows and competitive design.