The global shift towards is an obvious one, as is the trend towards people working remotely from home.
Unprecedented, draconian lockdowns of whole countries that have been seen in the wake of the recent coronavirus pandemic are having a severe effect on every aspect of life and are leading to a recession.
In contrast, online activities such as payment processing have ballooned to record-breaking numbers in recent months.
While just about every aspect of the Financial Services industry has been affected by the COVID-19 outbreak, online shopping is seeing unprecedented volumes as people in quarantine have little choice but to shop for their essential goods and services online.
The shift is so blatant that uptakes of online sales seen recently haven’t been seen in more than ten years. The recent volatility across Forex, commodities and things like Bitcoin, means that investors are doing what they do best; namely, throwing money at an uncertain future with hopes of lucrative profits in the long-term.
Remote Working Trends
Due to people around the globe being forced by governments to work from home under threats of fines and even jail time, companies and online payment facilitators, including those offering Alternative Payment Methods like , have needed to implement and execute a new reality on the ground.
Using secure servers and systems, staff can perform their work duties remotely, with no negative impact on processing times, remittance, or following up on issues or customer service queries.
Many payment processors have seen record increases in volumes across the board in recent months.
Those who rise to the challenge of performing optimally (albeit with staff working from home) are the ones enjoying the success, and the ones merchants want to be aligned with during a pandemic such as the COVID-19 outbreak.
Choosing The Right Payment Processor
Soon after lockdown measures were implemented, Zotapay’s senior management team immediately formulated a plan to ensure that operations were running correctly, while also making sure that merchants suffered no delays or unforeseen issues with payment processing.
With a skeleton workforce in the office, daily video meetings were set up across all departments to ensure the smooth running of the company, despite the pandemic and the lockdown.
It’s vital to choose the right payment facilitator, and especially when a crisis like COVID-19 strikes.
That’s why Zotapay merchants know they made the right decision when they chose a robust payment facilitator with a vast network of contacts, all in the right places around the globe.
Online purchasing habits have changed forever, so it’s more crucial than ever to choose a processor with a strong network of sustainable acquiring partners who can manage and overcome the challenges of a pandemic such as coronavirus.
Fighting Coronavirus Fraud
As with any crisis of this scale, some less than scrupulous companies will always try to take advantage of the situation for financial gain.
At Zotapay we are wise to this type of activity and have already taken steps to decline opportunistic merchants from charging exorbitant prices for face masks, hand sanitizer, gloves and other protective equipment.
Our compliance team worked tirelessly on the new challenge to identify and deal with such merchants, based on monitoring price ranges for items for sale.
Amazon has also penalized and removed a number of merchants on their marketplace who are overcharging for items, as well as other online stores.
We are determined to fight fraud related to the coronavirus pandemic and are constantly upgrading our systems and procedures to meet this goal.
Tips For Working From Home
Working from home, especially for office staff who are accustomed to a co-working environment, can be a real challenge.
That’s why it’s vital to have some forethought and to plan in advance to ensure maximum output and efficiency. Here are a few tips for those working from home to get started.
Keep routine – Your routine may have been affected, but try to stick to it anyway. Take that refreshing morning shower, eat a tasty breakfast, get dressed as if it’s a regular working day, and do some exercise.
Dedicated space – Try to avoid sitting on the sofa with your laptop. If you have a dedicated home office, make sure you only work from there to keep a separation between home and work life. If you don’t have a home office, set yourself up in a quiet spot, even on the balcony, and dedicate that as your’ home office.’
Keep communicating – We’re lucky that in this day and age, people can communicate easily via platforms such as Skype, Zoom, and WhatsApp and Google Hangouts. Get active with some Skype text chats or arrange a voice or video call with a colleague or your favorite customer every few days
Home Activities for Kids
Sending Thoughtful Gifts
Having understood the numerous challenges faced by clients, merchants, staff, and just about every other person on Earth, Zotapay took steps to create our ‘Coronavirus 2020′ kit, which we sent to our global merchants, various partners, and our dedicated team of staff.
We know how difficult things are at this time, as people try to juggle home chores and looking after kids off school while maintaining their job accordingly.
The Zotapay kit was a great way to offer our various partners a little boost of encouragement and included an aluminum drinking bottle, toilet paper, face masks for kids and adults, branded Zotapay socks, and two puzzle-style games to keep the children occupied, at least for a few minutes.
Final Thoughts
The current trends caused by the coronavirus pandemic won’t be shifting anytime soon. Choosing the right payment provider is of optimal importance at this time, and that includes a company that uses cutting-edge technology and who are prepared for the increase in cyber-attacks and threats which have seen an upturn as online payments increase.
Keeping one step ahead of the game is just the ticket for global merchants wanting to receive online payments, and that means a robust, reliable, trustworthy, and experienced payment provider has to be a top priority for both the short and long-term.
We would also like to remind you to avoid opening doors without gloves and to pay particular attention when it comes to elevator buttons, ATM machines, supermarket carts, door handles and gas pumps.
It’s also advisable to wash hands or use a hand sanitizer after touching your credit card and cellphone if you’ve been out shopping.
Disclaimer: The content of this article is sponsored and does not represent the opinions of Finance Magnates.
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