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Services like Square have redefined convenience in payment processing. By providing compact devices for credit card processing, Square has allowed small businesses to accept payments without needing extensive infrastructure. Furthermore, the integration of e-commerce solutions into Square’s services showcases a holistic approach that simplifies payment processing while providing additional business functionalities.
Increased Access
In regions with limited banking facilities, innovative systems like M-Pesa in Kenya have facilitated access to financial services through mobile platforms. By allowing customers to transfer money easily using their cell phones, M-Pesa has significantly improved financial inclusion among previously unbanked populations.