How to set up successful integrated payment systems
September 25, 2013

Payment integration services provide unique opportunities for businesses as more consumers around the world use mobile technology to interact with brands. A new report from SAP AG, a global software corporation based in Europe, examines current trends around the globe related to mobile credit card payments and the overall commerce industry. According to the study, a majority of shoppers surveyed in 17 different countries said they would be more likely to use their smartphones in retail establishments if businesses consistently offered such electronic transactions as an option.

A variety of other factors influence buyer behaviors when it comes to consumers' use of electronic payment systems. Companies that focus exclusively on investing in mobile technology may be missing the mark when it comes to truly satisfying their target customers. In many cases, shoppers value the presence of having multiple options rather than one simple solution. Here are a few additional tips businesses may want to consider before implementing payment integration services into their operations:

Supplement mobile transactions with customer engagement strategies
The SAP AG study offered further insight into the ways in which shoppers react to transaction technology. For example, the report found 32 percent of those surveyed said they would use mobile commerce services more frequently if businesses offered incentive programs that encouraged continued purchases. In other words, mobile credit card payments create unique opportunities for brands to enhance the level of interaction they have with their customers. Advanced gift card programs and loyalty programs, for example, can work in tandem with electronic transaction systems to not only make the shopping experience more convenient for consumers, but also to allow it to be more engaging and fulfilling, as well.

Think critically about where customers are shopping
Businesses should always consider the behaviors and preferences of their target customers before offering new payment processing services. Not everyone has a smartphone, and among those who do, many prefer alternative methods for purchasing goods and services. Houston Chronicle said companies should make sure their transaction services target consumers where they most frequently interact with the brand. For example, a business with an especially strong brick-and-mortar presence may want to to accept mobile payments in person as opposed to exclusively online. Having a variety of options is another important strategy. According to the SAP AG study, 64 percent of consumers said they prefer the ability to choose from a variety of payment methods while shopping.

Nexus: G-WEBCD6