Integrated payment systems increase customer satisfaction
September 06, 2013

Payment integration is an important tool for many businesses as technology changes consumer expectations about the shopping experience. Traditionally, retail establishments have funneled the payment experience at the points of sale. The goal of this concept was to reduce the customer experience to its most important core: the transaction process. In recent years, however, this idea has shifted to reflect changes in consumer behavior. According to Forbes, many companies are now viewing the point of sale as a point of service, instead.

What does this mean for integrated payment systems in the retail industry? More than ever, customers are expecting the shopping experience to be offered through multiple channels. As a result, businesses must provide several options for purchasing products. It is no longer enough to have a simple checkout line and accept traditional payment methods. Instead, Forbes said incorporating digital tools into the shopping experience can have profound impacts on long-term sales. For example, the ability to accept mobile payments reduces the barriers between the in-store experience and the convenience of shopping online or through a mobile device.

A payment processing service provider can help companies incorporate the right mix of channels that is most appropriate for their clientele. According to PCI Compliance Guide, a resource for payment card industry, many mobile transaction tools come with security risks. As a result, businesses should be careful when introducing these alternative channels into the store environment and take the necessary steps to ensure their tools are compliant with standardized security measures.

Boosting the capacity for online payments doesn't necessarily eliminate the importance of other methods, either. For instance, some customers may still appreciate a store's ability to accept checks. Like any other aspect of running a business, the concept of point service simply relates directly to customer satisfaction. The more convenient it is to for people to pay, the more satisfied they will be in the long term.

Nexus: G-WEBCD3