Enhancing Customer Satisfaction through Omni-Channel Payments

Fremont, CA: A recent study highlights that implementing an omni-channel approach payment strategy is essential for creating a seamless customer experience in retail. Many merchants and retailers are open to adopting this approach, recognizing that advancements in payment technology can benefit their businesses. A substantial number are even willing to invest more for a wider variety of payment options, provided these services offer added value. A majority believe that integrating new payment methods will lead to improved operational efficiency and a better customer experience.

The rapid digitization of commerce and payment technology is a critical aspect of improving customer engagement while reducing costs at the same time. The EMV payment method that used to be a pain-point for in-store retail fraud has now reduced, according to 82 percent of merchants in the U.S., however, the fraudulent activity has now shifted online. In the Asian region, however, cards continue to dominate the retail and merchant sales figures, accounting for 52 percent of payments. For retailers and merchants to remain competitive in the ever-changing market, they will need to foster stronger partnerships with payment companies that, both, understand their market and improve the omni-channel capabilities to reach new markets.