5 Ways How an Integrated Payment Solution can enhance Customer Experience

Customer experience plays a critical role in the growth of any retail business. Offering a smooth and convenient journey has always aided in gaining loyalty and retaining customers. However, customer journey and expectations have evolved radically since COVID-19. This sudden change in expectations has led to retailers facing a drop in sales, compelling them to work on ways to embrace the new normal. Retailers have been pushed back to the drawing board to redefine their customer experience and journey to help them win their customers back.

Let’s take a look at the evolved customer expectations since the onset of COVID-19.

1. Customers Now Prefer Paying Via Digital Modes

The once ‘hesitant to use digital payments’ customers are preferring digital payments today! That is because they are sceptical about touching and sharing currency notes, which could be Coronavirus carriers. This has compelled customers to shift to contactless payment methods like UPI, QR codes, NFC cards, and Remote Pay, despite their initial hesitation.

2. Customers Expect Faster Checkouts

The fear of contracting the virus has convinced customers to stay indoors. So, even if they step out to purchase essential goods, they expect the journey to be quick and safe.

3. Customers Want Contactless Doorstep Services

Offering delivery services today is not an option but a necessity. Every individual is looking to make purchases online, and they expect the delivery to be contactless. Thus, it is inevitable for retailers to provide a convenient and safe purchasing experience to customers from the comforts of their home.

While retailers may wonder about adapting to this shift while offering convenience at all touchpoints, they may have missed out on one small but critical point. The one thing common here is the payments/checkout procedure which could be solved via an Integrated Contactless Payment Solution!

What is an Integrated Payment Solution?

An integrated payment solution is a software solution, which incorporates all digital payments namely, UPI, QR codes, credit/debit cards, Aadhaar Pay, biometric-enabled, e-wallets, etc. into one interconnected system. Instead of equipping different systems for different payment methods, all types of payments are accepted via a single solution. And this is done across all touchpoints, which means a swift checkout process can be achieved while providing a contactless payment experience to customers.

I have listed down 5 ways how an integrated payment solution can help enhance customer experience and scale a business during the pandemic.

1. Lends Flexibility

An integrated payment solution enables a customer to accept any kind of digital payment including contactless payments. If retailers have an integrated digital payment system, they offer customers the freedom to choose their preferred payment method. Retailers can offer all payment options - debit card, credit card, UPI, QR code, SMS Link, via a single interconnected system. This flexibility can also be extended to doorstep deliveries.

2. Facilitates Faster Checkout

The form factors of a POS machine have evolved over the years. Earlier, POS machines used to be wired, and payment solutions disintegrated. Today retailers have the choice to go for an integrated payment system, which facilitates faster checkout processes by eliminating the need to enter amounts or do end of day batch settlements manually. Today both those processes can be automated. An integrated system automatically pushes the transaction data onto the machine and on successful transaction, posts it back to the system. This drastically reduces the checkout process time and enhances customer experience by eliminating queues.

3. Offer Instant Affordability Solutions Via the Same System

Retailers selling big-ticket products may have been using payment solutions that require a separate POS for EMI transactions, with most of these solutions available only at the store. Well, not anymore! Yes, you heard it right. Integrated payment solutions allow retailers to offer affordability solutions, instantly, via the same POS payment system that is used for card/QR payments. A single device allows EMI acceptance as well. Since the device is lightweight and runs on wireless technology, it can also be carried for deliveries and allows retailers to offer EMI right at the customers’ doorstep.

4. Consistent Omnichannel Experience

Consistent customer experience across touchpoints is equally crucial for brand loyalty. It is important to give customers the same swift journey, be it in-store or during delivery. With Ezetap’s all-in-one Integrated Payment Solution, retailers can facilitate all kinds of payments across all offline touchpoints --at the billing counter, anywhere within the store/branch, at kiosks, at customer’s doorstep, and remotely (SMS-based payment).

Read about our solution given to Reliance for their in-store and delivery businesses.

5. Enhanced Security

Going back to why customers were hesitant in using digital payments. Earlier, customers were extremely cautious and careful about their money. So, they would question the safety, security, and reliability of new payment methods. An integrated payment experience is highly secure and consistent across payment methods or touchpoints. Thus, customers find it more reliable than disintegrated payment methods. With enhanced customer trust, it further helps in improving the ratio of digital payments among all orders, easing away any cash related reconciliation pains. Integrated payments solutions ensure secure transactions while minimising frauds and reducing business risk.

An integrated payment solution can help enhance customer experience in multiple ways.

By offering an enhanced experience via contactless and swift digital payment services, retailers offer faster checkouts and safe deliveries, which is the top expectation of all customers today. An enhanced experience for evolved customer expectations will not only help retailers survive the slowdown but also boost sales and expand their business.

Ezetap is the market leader in payment technology, with a future-proof payment solution that offers higher reliability and fastest checkout experience at all times. We are trusted by top organisations in India and the UAE to transform their payment experiences. Get in touch with us at 1800 313 141516 and our experts will demonstrate how our cutting-edge services can transform your payments process and help you in scaling amid the pandemic.