Every FEC is unique, so the way different businesses approach payment and POS can depend on your business's unique needs. From tabletop to portable, to mobile and online ordering— people are used to booking and ordering products in different ways. As Pew Research reports, Americans were already spending upwards of $350 billion annually online, using online booking and services only increased in the midst of the COVID-19 pandemic. In fact, in Shopify’s study on some of the new trends in 2020, 52% of buyers reported that they’ve shifted more of their spending online during the pandemic. As restrictions lessen and more people start seeking out entertainment venues again, people will likely expect to be able to purchase with just as much ease as they were while sheltering in place.
The deadline for the new European Payments law, known as the second Payment Services Directive (PSD2) is quickly approaching. Do you know if your business will be impacted by PSD2 and do you feel confident you are prepared? Clubspeed has answered some of the most common questions below.
Q. What is PSD2?
As an added service to our customers Clubspeed is now a certified payment facilitator. This means all card transactions that occur within our clients’ facilities, including customer registrations and product or food purchases are in our secure network. Continue reading to discover how our payment facilitation works and what it means for you.