With the advent of digital tools, consumers have also diversified their purchasing paths. Previously, physical stores were the only point of contact with consumers. Today, omnichannel sales have become predominant and necessary for the survival of any company. Consumers will multiply the number of points of contact with the brand, and their purchasing path will evolve accordingly. Unified payment is becoming a strategic issue for companies.
Unified payment: challenges and solutions
To meet these new needs and optimize the customer experience, the range of consumer services on offer has expanded: physical stores, online stores, Click and Collect, telephone sales, and more.
But these new consumer trends make managing payments, reconciling accounts and monitoring customer behavior all the more complex…
The aim of payment or unified commerce is to centralize all sales channels, putting the customer at the heart of the purchasing process.
The challenges of unified payment for merchants
Payment is the cornerstone of the multi-channel consumer journey. Poor transmission of payment information between different sales channels represents a major risk for merchants. This will have a direct impact on their management of administrative costs, banking operations, the traceability of past exchanges with payment service providers, accounting reconciliations, and so on.
To meet these challenges, merchants need to be able to centralize payments from their various points of sale, so that all flows appear on the same platform, making it easier to manage transactions, refunds, payment status, accounting exports, and so on.
Unifying your payment information in a single interface is also an asset for your customer relations. This will enable you to retrieve all payment data and learn more about your customers, whatever channel they use. With this data, you can implement actions to meet the challenges of customer loyalty.
The platform used must also be able to connect with the merchant’s various management tools (ERP, CRM, etc.) to ensure optimum centralization.
Give your customers the benefit of a multi-channel shopping experience, while making payment management easier. The CentralPay solution integrates several levels of unification :
- Unification of payment methods
Meet all your payment needs with CentralPay services: credit card, bank transfer, wallet, direct debit, vacation voucher and accept multiple currencies.
No need for a multitude of payment service providers to meet all customer demands. All your means of payment are centralized in one place.
- Unification of sales channel flows
Whether you’re working remotely, in a physical store, an online store or on the move, all your payments are unified in the same banking environment and governed by the same rules.
With unified payment, you can partially automate certain processes, reconcile all types of cash receipts regardless of the sales channel, facilitate bank reconciliations, perform accounting exports and obtain company financial reports.
Would you like to find out more about unified payment at CentralPay ? Contact our team.