Using integrated payment systems to improve the customer experience
September 24, 2013

Integrated payment systems are becoming an increasingly important part of the customer retail experience. As advancements in technology continue to drive innovation in the business world, many small and medium-sized organizations are finding it increasingly necessary to adjust certain elements of their operations on the user end to maintain profitability and stand out among competitors.

Companies that want to incorporate new technology into their business models can benefit from keeping the focus on providing quality customer service at all points in the transaction process. Business 2 Community said the cost of losing customers is often much greater than what many people expect. In fact, the task of acquiring new clients to replace the ones who have left is often five to 10 times greater than what it takes to keep an existing customer satisfied. A recent report released by Zendesk, a customer service software firm, found 39 percent of respondents said they would go out of their way to avoid a brand for two years after having a bad interaction with it.

Innovations in the way businesses interact with their customers are a direct result of changing consumer behaviors. More people are using smartphones and other mobile devices while shopping. As a result of this growing trend, companies can ensure long-term customer satisfaction by incorporating shopper preferences into the overall transaction experience, be it online or in a brick-and-mortar establishment.

Investing in technology that offers the ability to accept mobile credit card payments, for example, requires a significant amount of strategic planning. According to Venture Beat, a technology news website, businesses interested in pivoting their operations should keep the user experience as a central focus. Closely understanding consumer trends and where they're headed for the next several years can help retail organizations establish effective electronic payment systems that increase revenue in the long run.

Nexus: G-WEBCD1