Omnichannel Payment Processing
As online shopping is becoming more and more popular and social distancing has become a new normal, consumers are turning first to the internet for shopping.
As online shopping is becoming more popular and social distancing has become a new normal, accepting online payments is becoming a requisite for businesses.
These unavoidable circumstances have demanded many merchants to explore the digital possibilities for their businesses.
Consumers are becoming familiar with online payments and getting comfortable with them.
With the pandemic outbreak, more than 50% of customers started using digital payments more than before the pandemic, and the majority of them plan to stick with them.
This unpredictable turn of events is making consumer habits more predictable and resulted in rising of Omni commerce.
The demand for Omni commerce offerings from merchants is continuing to expand as more consumer devices enter the Internet of Things (IoT) ecosystem.
For any business, when it comes to the consumers, gaining their attention, earning their business, and maintaining their loyalty are defining goals.
And in the digital era, it is necessary for businesses to learn how to digitize, adapt and integrate the online and offline world.
Today, the shopping scenario has changed as customers don’t just want quality products, they want to search for their product easily, get all the information about the products, compare their options on various channels and they want it all fast.
Among all the vast information available, personalized content manages to attract the customer’s attention and omnichannel commerce can achieve this.
With the evolution of each technology, be it TV, telephone, radio, mobile devices, or the internet, businesses, and their marketing strategies have also evolved.
Shopping has become more sophisticated. Customers have high expectations from the digital shopping experience and payment is not an exception.
Que in – Omnichannel payments.
With multiple payment options readily available and just a click away, customers are keen to use their preferred method for online payments.
And these payment methods need different payment details to be feed in for processing the payments.
As a merchant, having those details from a consumer’s online transaction would give you an immense advantage, and that’s the importance of having an omnichannel payment platform.
What is an omnichannel payment platform?
It is a comprehensive solution that integrates payment processors enabling seamless and frictionless interactions across the entire payment ecosystem.
The omnichannel platform enables the amalgamation of payment data helping merchants to get insights on the individual consumer.
It can give insights on consumer’s shopping and payment habits, and their preferred products making it easier to target right audience and potential customers.
What is omnichannel payment processing?
omnichannel payment processing integrates multiple payment platforms to enable a frictionless and seamless payment experience.
Beyond the traditional methods, omnichannel payments include a variety of transactions like,
- IVR Payment Processing
- API Payment Processing
- Virtual Terminal Payment Processing
- Web Portal Payment Processing
- Credit/Debit Card Payment Processing
- ACH Payment Processing
- Payment Processing via Mobile App
- Payment Processing by Text
Lyra’s EPOS – turning transactions to frictionless experience
It integrates all channels for online payment processing and acceptance. It is a hassle-free form of online payment where the customer just has to click on the payment link or scan the QR code to initiate the payment.
There is no need for customers to download a particular application to make an online payment.
The link generated via the EPOS application by the merchant can be shared across any messaging platform and this secured link takes customers to the payment processing page where they can choose any payment method of their liking.
Backed up with India’s one of the most preferred payment gateway, EPOS offers maximum security and fraud, chargeback minimization.
Lyra EPOS solution accepts Multi-card payments and allows multiple payment options like Debit, credit card, Net banking, UPI, and Wallet payments.
With this customers can choose the option they are comfortable with. With the EPOS application, you can get a single integration across the globe.
Frictionless transaction experience gives customers more time to focus on the brand value, and thus with an omnichannel payment system, you can offer your customers a more engaging, customized, and consistent shopping and payment experience.