Rapid development in transaction technologies and consumer demands has resulted in numerous and innovative payment options to become present and fruitful in the retail marketplace. This evolution will increase choice for the customer at the same time as creating new ways for payment providers to engage and generate revenue. It is essential to obtain the right technology, EPOS Solutions and competent support service working with you to deliver these issues. If not, a prospective client might turn into a lost prospect.
A vital factor that successful merchants must be able to offer is a varied but combined transactional processing service. The shifting nature of consumer requirements means it is not unusual for individuals to research prices in-store then purchase their selected product through an online platform; made even easier by online platforms such as PayPal or with a dedicated mobile payment solution.
In-store and Online
E-commerce is the 21st century’s largest and most significant expansion markets. With the creation of the online retail giant Amazon and the Chinese version Alibaba, there has been a transformative effect on how customers browse and formulate a purchase. In the United Kingdom, e-commerce has generated in the region of fifteen percent of all retail sale. The statistics research institute Statista published recent data that showed that electronic commerce sales internationally totalled $1.55 trillion in 2016, and likely exceed $4 trillion by 2020.
There has been an expected impact on high-street shopping, but it has not altered the reality that customers are still keen to visit their favourite shops. The success of retailers over the festive period reflects customers preference to buy with the full range of payment options; i.e. physical, mobile and contactless. Whatever your business, bespoke software paired with top of the line hardware will give you the edge in your market sector. Utilising solutions that provide simple and safe payment options for consumers. For merchants, this may well be the distinction between a semi-regular customer and a loyal customer.
The sheer range of transaction methods can, however, be overwhelming for merchants and payment acquisition services. Luckily, services are on hand to help. 3R Telecom‘s EPOS Support Service will guide you through the process and assist your business in delivering a successful omnichannel by resolving the variety of processes required in acquisition, authorization and rerouting payments.