5 Benefits of Integrated POS Payment Solution for Your Modern Retail Business


How an integrated payments POS machine/solution can benefit your Modern Retail business

Chaitali Bhatia   | Director – Marketing Ezetap Mobile Solutions Pvt. Ltd.

Feb 07, 2020

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The famous quote, “It takes months to find a customer… seconds to lose one.”, befits today’s highly competitive retail market. Due to the plethora of options available, people are no longer compelled to buy from you. If a customer is not satisfied by the services provided by you, they will simply walk out and refuse to revisit your store. Therefore turning your first-time buyer into a loyal repeat customer is an even bigger challenge today.

Given today’s competitive environment and demanding customers what’s the secret behind customer retention?

A customer experience par excellence!

Apart from employing friendly and warm sales staff, there is a lot more that goes into providing an uninterrupted customer experience that can make your customer visit your store, again and again.

Let's take a common instance:

You’re at a restaurant, you’ve finished your meal and the waiter says, "We don't accept card payments." You search for the nearest ATM to withdraw cash, go back to the restaurant and make the payment.

In this scenario, you’re less likely to remember the restaurant for its food, but more for this poor payment experience!

So, yes, apart from service and friendliness of the sales staff, payments also play a crucial role in ensuring a seamless customer experience.

Let’s take a deep dive to understand how an integrated payments POS machine/solution can benefit your business:

1. Streamlined processes leading to enhanced efficiency

With a regular non integrated payment machine, the processes are manual and cumbersome, mostly with limited payment options. This increases the time taken for operational processes including that for reconciliation, payment processing for various modes via separate devices, total checkout time etc.

An integrated payment solution has features such as auto reconciliation, integrated payment processes, automated reports all of which help in streamlining the payment processes. It enhances the operational efficiency of the sales and finance teams by eliminating manual errors, and cutting down on the time spent in manual reconciliation and payment transaction reporting. More so, multiple payment options under a single system make the checkout process smooth and swift.

2. Flexible Payment Options

Consumer expectations change with the ever evolving payment industry and new and upcoming digital payment methods. Digital age customers prefer making payments via new age payment modes such as PhonePe, QR code, AmazonPay, UPI etc.

Meeting customer expectations is getting tougher by the day. To add to that, providing the convenience of all payment modes requires individual alliances with each payment company which is tedious and cumbersome to maintain.

An integrated smart payment solution provides a platform interface for all payment acceptance. It takes the headache of backend integrations with all payment providers thus giving you a seamless single platform experience with the flexibility of all payment options.

3. Improved Customer Experience

Allowing your customers to choose a payment method of their choice helps you bypass a common problem of tending cash change and instantly enhances your customer experience. Most shops / businesses often give examples of how customers get disappointed only because they failed to provide change and had no other method of payment acceptance. Hence, you can drastically improve your customer experience with new age payment options such as QR code -scan-and-pay or UPI, which are ideal for small-ticket transactions and appeal to the digital age customers.

You can also circumvent checkout queues and carry out transactions to fast-track the process in the event of long lines. With this smart payment solution at your disposal, you can process payments anywhere within the store, card based payment at customer’s doorstep or remotely via SMS based payment.

For instance:

A customer who has purchased just one product wouldn’t wish to wait in the queue to complete the transaction. You can go either add a Self-Checkout point for such customers or offer a quick yet assisted payment experience using Queue Busting solution of Ezetap with integrated yet smart wireless devices.

4. Tailored User Experience

Integrated payment platform allows you to accept all forms of payments across all touchpoints including In-store at counter, In-store assisted payments anywhere, at customer’s doorstep, remote payments via SMS, or kiosk based payments. Apart from simplifying your omni-channel payment acceptance payment platform solution ensures consistency in your payment experience across all touchpoints. This experience is customised to your business needs and flows.

For instance:

For a Modern Retail store in-store and ecommerce sales experience is of equal priority. In such a scenario, a payment solution provider would ideally offer four solutions in one - In-store counter, In-store assisted, kiosk / Self checkout, Card acceptance on delivery. It is future-proof, so if you integrate it today, you can accept any new mode of payment that may be introduced in future across all these touch points.

5. Scale and Growth

Every business resorts to technology backed solutions for streamlining processes in order to scale and grow. Similarly, a technology backed payment platform provides multiple benefits under one umbrella such as a variety of payment options, value added services including transaction history view, automated settlements, reporting and analytics, payment related insights for your business and customers, branded smart charge slips and even more. It helps you meet end to end of your payment needs while optimising payment processes and giving you the resources and the agility to scale and grow your business.

At Ezetap, we make your payment procedures easy by enabling payment acceptance for all payment modes, including new-age digital modes such as UPI, QR code, debit/credit card, Aadhar Payment, etc. across any and every offline touchpoints. Contact us at 1800 313 141516 (Toll-free) to see a demo of an integrated POS payment solution for your business.

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