Handling multiple transaction channels with payment integration
October 17, 2013

The rapid growth of online retail services has presented small and medium-sized businesses with unique challenges. As more consumers utilize a variety of transaction methods to purchase goods, companies must find ways to keep proper organization of important financial information. Integrated payment systems offer simple solutions for businesses that need to connect separate revenue streams into one easily accessible and automated program.

Shopping behaviors among U.S. consumers have evolved rapidly ever since the e-commerce industry has made it possible for people to purchase goods without ever leaving their own homes. For example, a survey conducted by Shopzilla, an online price comparison service, that tracked daily shopping habits revealed a large majority of both male and female shoppers make purchases through laptops or desktop computers on any given day. A significant percentage also used tablet devices.

However, even while a majority of shoppers are utilizing new tools to interact with brands, specific habits continue to vary. According to Small Business Trends, women are more likely to make purchase decisions from marketing emails, while most men prefer to actually conduct product research in brick-and-mortar stores. Male shoppers may ultimately make the final purchase through a website, but the fact that they are still willing to visit brick-and-mortar stores suggests brands should be careful not to put all of their eggs in one basket when it comes to payment processing.

In other words, these trends leave significant opportunities for businesses to maximize their multiple revenue channels. Rather than investing exclusively in one payment channel, retail organizations can utilize advanced technology to continue accepting credit card payments from a multitude of channels. By investing in payment integration services, companies are able to fully organize otherwise disparate financial information. Instead of performing manual accounting processes, store owners can save time and labor by relying on robust electronic payment systems to take care of the details.

Nexus: G-WEBCD1