As merchants look ahead to a new year, now is the time to project how their role will evolve in 2015 and beyond. Technology will continue to advance well into the new year, which will provide merchants with opportunities to process payments in new and innovative ways. Of course, not every merchant is on board with new payment methods that utilize different tools like mobile phones and tablets, but increased adoption is going to be a major story in 2015. In fact, one publication has gone as far as saying this will be the most pressing issue in the merchant community next year, and it may result in other needs taking a back seat.

There is nothing more frustrating as a consumer than getting to the front of the checkout line only to realize they do not accept your preferred method of payment. There was a time when this only meant that stores wouldn't accept a particular card the customer wished to use. Today, consumers are becoming increasingly concerned with the security of their information, which means they have a pressing need to use what are described as safer payment alternatives. EMV adoption has been a big story, and the shift to NFC-based mobile options like Apple Pay dominated headlines this fall. A PYMNTS.com article predicts that next year, merchants will ignore other important matters just to ensure they are able to accept the various payment methods their customers prefer.

According to Karen Webster, the CEO of Market Platform Dynamics and author of the article, this includes the cost of processing various types of payments. 

"As for reducing the cost of acceptance, it has and will take a back seat to doing the kind of things that get customers into their stores and buying. Will merchants worry about whether accepting Apple Pay or PayPal or MasterPass, or Visa Checkout, increase their cost of payments? Of course they will, but in much the same way that they worry about the how much an increase in the cost of electricity may jack up their utility bills or how much more it costs now to replace light bulbs thanks to the new government standard. Merchants aren't going to go without lights in their stores just because it may cost more to turn them on. And they're not going to deny consumers the opportunity to pay using the method of payment they wish to use and risk killing a sale and a customer relationship," she writes.

There has to be some level of compromise in the payments industry. While merchants want to accept any form of payment they can, they cannot completely ignore payment processing costs, as doing so can result in losing a significant portion of potential revenue. It's best for merchants to evaluate their payment processing environments and resources and determine what they can and should accept and what they shouldn't. Additionally, working with a merchant account services provider can help retailers and restaurants obtain the tools needed to process the right data on any transaction, which allows them to maximize the value of each payment.