Integrated payment systems help businesses sell more inventory
September 13, 2013

Electronic payment systems can help businesses of all sizes sell their online inventories at a faster rate. According to a report from Reuters, U.S. retail companies measured larger product inventory growth in July than was originally predicted by economists.

Retailers reported a 0.8 percent increase in inventory in July after slumping slightly during the previous month. Reuters said the recent upswing in restocks at U.S. businesses may lead to economic growth in the latter part of the year. In fact, the source said inventory numbers are often a major indicator of future changes in gross domestic product.

However, consumer behaviors are often unpredictable in sluggish economies. As a result, many businesses are worried about their ability to get rid of an increase in inventory if shoppers aren't interested in spending large amounts of money during the fall and winter shopping seasons. Reuters said consumer spending slowed significantly between April and June. Businesses sales have improved somewhat since then, increasing 0.6 percent in July. If current sales growth rates continue, Reuters said it would take 1.28 months for companies to clear their shelves.

Businesses can use integrated payment systems to increase their chances of selling off inventory at a profitable rate. For example, the ability to accept credit card payments online allows companies to process transactions at all hours of the day and week, according to Is4Profit, an online small-business news resource. Many of these credit card processing tools also create a more convenient experience for shoppers. Rather than filling out excessive paperwork or worrying about the safety of mailing cash, a simple online solution streamlines the process. Such a high level of convenience may even encourage shoppers to purchase more in the long run.

Nexus: G-WEBCD1