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Florida is a very important state for the United States economy. On its own, the Sunshine State stands as the fourth-largest in the country, and just as importantly, the vast majority of its business sector is comprised of small businesses. Some reports even point to over 99 percent of Floridian businesses coming under the category of being small businesses.

With such a vast offering across the state, the small business sector is clearly very competitive, which has helped it to thrive. However, for small businesses to keep up, they need to tap into their main benefits, such as being particularly nimble compared to major companies. One such question being posed that many will need to act on is the changing state of play of payment methods at all points of sale for stores.

Making the most of online options

According to the overall score of Nexcess, Florida ranks as the very best state to launch an eCommerce business. The tax climate of the Sunshine State is particularly favorable, as is the prevalence of financial resources available. Government burdens are particularly low here for small businesses, so it’d make sense if a large portion of small businesses in Florida either expanded into the digital space or operated there exclusively.

With eCommerce sales set to grow by close to nine percent again in 2024, being ahead of the trends and appeasing a broad audience will become increasingly pivotal. Naturally, cards are a must-have payment method online. Simply offering popular and more niche card options enhances the trust in the business. It’s one of the reasons why there is now a distinct Discover Card online casinos sector. Discover Card is the third-largest credit card brand in the country. The different setups of each kind of credit card help to appeal to more people, while the absence of deposit and withdrawal fees through Discover at online casinos becomes a major selling point. For other eCommerce businesses, the main benefit here is that so few online casinos offer Discovery, making them stand out to their millions of users across the US.

Adapting the in-store payment experience

Cash is still the preference for around one in three US customers, with upwards of 25 percent of all transactions in the country being made with hard cash. Cards are the other major player in US transactions. Visa, MasterCard, Maestro, Discover, and American Express are the headline acts in what is a majority share of payments. On the rise are the many, many different forms of eWallets.
Encompassing the many different brands of digital and mobile wallet apps, eWallets have earned an ever-growing audience for their convenience and added security measures. Many touch-pay terminals are compatible with the likes of smartphone apps Apple Pay and Google Pay, and all without anyone needing to carry any cash or a payment card. Being able to accept these new kinds of payments will become increasingly important for stores.

It would also be worth considering branching out into other popular brands that are predominantly used online. The PayPal POS system, for example, lets you take contactless payments on your phone, card reader, or with the PayPal Zettle app terminal, which offers an all-in-one solution for digital payments. As PayPal owns a near 60 percent share of the US digital transaction market, this could be a major selling point down the line.

Online and in-store, diversifying payment options, finding the trending popular picks in both realms and keeping ahead of the curve look set to be a great way to compete in the bustling Florida market of small businesses.