The term ‘customer service’ has been adapted over the years to become what we now know as ‘customer experience’. Simply receiving good service, polite service is no longer good enough in this fast growing digital day and age. When it comes to shopping, the modern consumer wants convenience, fast payments acceptance and instant gratification, as well as good, polite service.
Ensuring your business has the ultimate ‘customer experience’ is critical to both retention and revenue growth. However, the cost at which you achieve this success has to benefit the business, and not break the bank.
First things first, the most crucial part of your customer experience is the payments process, otherwise known as the payment experience. If your business is still operating on a cash-only payments basis, it might be time to move on and seek advice on getting a merchant account. A merchant account allows businesses to securely accept credit and debit card payments. Otherwise known as payment processing services, merchant services can help with fraud prevention and data security using a process to verify, accept or decline transactions using specialized hardware and software. Depending on the type of merchant account you choose, you could transform the way your business operates, which will help to save you time and money, whilst giving you the freedom to focus on other areas that will contribute to improving the customers’ payment experience.
Mobile Payments / NFC Technology
NFC technology, also known as mobile payments, is fast becoming the future of payments acceptance. If you are not yet operating with an EMV-chip ready or NFC ready POS terminal, it’s crucial that you get an update. Total mobile payments revenue is expected to surpass 1 trillion U.S dollars by 2019. It has been widely advised that retailers get ahead of the game with early adopters of mobile payments, as you could lose out by waiting for the technology to get a crystal clear green light. Integrating mobile payments provides merchants a unique opportunity, whereby they can utilize payment data to better advise their customers.
As we move deeper into the digital landscape, more and more innovative additions are being made to the payments technology market, increasing consumer demand and expectation. Omnichannel shopping streamlines the customers’ experience by integrating promotion, distribution and communication between your multiple business channels. Data is securely shared between each channel or platform within your business, enabling customers to have a simple and seamless checkout experience when making a purchase, whether they are on a desktop, mobile device, paying over the phone or in a bricks and mortar store. Adopting an omnichannel strategy will not only benefit the customers’ payment experience, it can also provide a business with even more opportunity to increase sales. Customers are more likely to make purchases if the shopping experience is easy and convenient, so by offering multiple ways to checkout, the more transactions you will see.
Convenience and safety are driving customer experience. Consumers want to live in a world where security risks are no longer an issue, and this means no more cash payments, no more swipe cards. Consumers want immediate, instant and fast checkout processes, whilst being assured that the process, and their sensitive data, is secure.
The consumerist world we live in has people wanting the latest Apple device, the latest streaming platform, or the convenience to go grocery shopping without leaving the house. Adopting the advice laid out in this article should get you well on the way to achieving a streamlined, successful customer payment experience.