Why an Omnichannel Approach Pays Off for Merchants

PayXpert

PayXpert
Published 14/02/2023 · 3 min read

More than a sales strategy for large companies: omnichannel payments also for SMEs

You may have heard of omnichannel sales or payments at some point. However, many merchants (especially those in small and medium-sized businesses), do not give much attention to what this tool consists of. But, what are omnichannel payments? 

Omnichannel payments are the possibility offered by a business to its customers to complete their purchases through different ways or channels, physical, telematic or online, which are also complementary to each other and allow the merchant himself to manage his business in real-time (payment data, stock, among others). 

As you can imagine, this tool made particular sense in 2020. The need to diversify, not only sales channels but also distribution channels, led companies around the world to hyper-develop in a very short time their capacity to sell through alternative channels to the physical ones. After this boom in multi-channel sales (mainly through online channels), it has become clear that those who were able to adapt to a market with an increasingly pluralistic demand are the ones who will take over the market of the future.  

It is a common misconception that only large companies are able to implement an omnichannel payment solution because it's believed that it takes a lot of resources to do so. Actually, there are adapted versions of this tool for all types of businesses, with different needs. How do you know which ones are for you? How do you integrate multichannel payments into your business? And what's more, how will it benefit your business? 

Payment methods tailored to your business

Today we introduce you to one of the most promising multichannel sales solutions in the sector. It combines the potential of the latest technological innovation with the strength of a team of experts who will accompany you in the process of adapting the technological solution to the specific needs of your business at every stage of its development. One by one, know the main payment channels of PayXpert's omnichannel solution, and their benefits for businesses like yours. 

  • PCI IVR: an alternative way to automate payments for your business, thanks to interactive voice response (IVR). An improved way to offer payments over the phone to your customers, with greater availability and lower cost than a call centre.  
  • MOTO: do you have a team of agents to manage payments? You don't have agents, but you want to implement a simple way of collecting information for payments? MOTO will make the collection of payment data much easier and safer for you and your customers. Whether through agents, IVR or even an email, MOTO is a highly cross-cutting and efficient system. 
  • Digital payments: the classic of payments, taken to the next level. Thanks to our network of banks and alternative payment providers around the world, you can offer your customers a broad mix of payment solutions to increase your business conversion and customer satisfaction.  
  • POS: point-of-sale terminals, more commonly known as dataphones. Our range of devices has been developed with the aim of providing solutions to the needs of all types of businesses: from shops, to home deliveries, to transporters, among many others. 

Advantages of integrating an omnichannel payment solution in small and medium-sized businesses 

It is possible that this is all sounding like Greek to you, or that you think it is only within the reach of large businesses. The truth is that, although they go unnoticed, small and medium-sized businesses around the world are already implementing this technology, which has allowed them to maintain and even grow in times of market uncertainty. Some of the main advantages, in the short and long term, are: 

  • Diversification of sales.
  • Increased customer availability.
  • Increased cross-border or international sales.
  • Compatibility with a larger number of potential customers.
  • Increased conversion.
  • Optimisation of ROI.
  • Improved shopping experience.
  • Customer loyalty.

Do you want to know how to implement multichannel payments in your business? Perhaps this is the part that generates the most questions. Which payment channels are best suited to the needs of my business? How to integrate them? How much do they cost? How to measure their results? To solve all your doubts, we have omnichannel payments with a team of fintech experts at your disposal who will analyse the situation of your business and advise you with a single objective: to optimise the financial performance of your business, to give you a deeper and clearer vision of it and, ultimately, to help you grow.

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