What is an omnichannel payment platform?
What Is Omnichannel Payment Processing?By providing a consistent payment experience, omnichannel payment processing offers you the means to take a variety of payment options, from online payments to mobile payments. It's a payment gateway that offers you flexibility. Some of the payment options include the following:
Online Bill PaymentsWhether you handle all of your sales online or offer both a storefront and an ecommerce option, you need online bill payments for customers to safely and securely make purchases from your online store.
IVR Bill PaymentsYou might want your customer experience to include a way for your customers to make payments over the phone. Interactive Voice Response (IVR) bill payments allow your customers to make automated payments over the phone using voice responses.
API Bill PaymentsAn Application Programming Interface (API) is designed for managing payments. This helps your clients buy from you with confidence, knowing that the checkout and credit card processing is smooth and their payments are secure.
Virtual Terminal or Web Portal Payment ProcessingIf your company does a lot of ecommerce, then a point of sale (POS) system that takes digital payments is essential for your invoicing. This web page allows you to process transactions on any device with an internet connection.
Credit and Debit Card Payment ProcessingCredit and debit cards are a large share of the payment industry, and you want payment processing that supports it. From contactless options to touch points, you need a payment processor that takes all forms of credit and debit cards.
ACH Payment ProcessingWith automated clearing house (ACH) payment processing, your business can accept electronic checks from customers, and it can also set up automated payments for subscription programs.
Downloadable Mobile Payment AppToday's customer wants a mobile payment option. Mobile payment apps not only have security features that protect customer data, but the customer simply makes payments from their mobile device, thereby eliminating the need to purchase goods in-store.
Check by Phone PaymentsAlthough checks might seem like an antiquated payment method, a payment provider that can accept checks can increase their sales channels and revenue.
Payment by TextAn ideal user experience includes using smartphones to pay by text. Payment by text uses a text message service to invoice a customer. The customer completes the purchase by texting a response or clicking on a link, which sends the transaction information to the merchant’s payment processor.
Kiosk PaymentsKiosk payments allow your customers to see pricing and place orders in real-time. When you offer kiosk payments, your customers enjoy a seamless experience where all they need to do is pick up their order and go.
What Are the Benefits of Omnichannel Payment Processing?Your small business is probably already using a payment processing system, so you need to know the benefits of omnichannel payment processing before you make a switch. Here are some benefits to consider:
Ease of Customer PaymentsWhen a customer enjoys the user experience, they're going to want to continue visiting your business. When your payment system offers all of the payment types they need and want, it's a great way to enhance the customer journey.
Streamlined Technology Across All PlatformsFrom your online store to a kiosk, you need to streamline your credit card processing to ensure that your payment data is always up to date, and an omnichannel payment platform allows for this. Security is also a great benefit of an omnichannel payment platform. Let’s look at it.
Omnichannel SecuritySecurity isn't only a buzzword. You need to protect your data and your customer's payment information against hackers and other bad actors. A seamless experience includes peace of mind for the client with knowing their payment information is secure.
PCI DSS Compliant
Part of the omnichannel payment processing security is to ensure that the system you use is always PCI DSS compliant. This protects both your financial information and your customers’ data.
Cross-platform tokenization creates an extra layer of security when you need to send payment information from one platform to another. This protects your customers’ data while providing the necessary payments for goods and services.
Point-to-Point Encryption (P2PE)
After your customer swipes their credit card at a terminal, you're responsible for protecting it as it moves through the payment processing system. Encryption ensures that those who need the information receive it while keeping it out of the hands of those who don’t.
What to Consider When Choosing an Omnichannel Payment Platform
An omnichannel payment processing platform can help your business in a variety of ways. You get the benefit of accepting a wide range of payment types and the security you need. With all of the benefits, an omnichannel payment platform can help your business thrive.
Heartland helps nearly 1,000,000 entrepreneurs make and move money, manage employees and engage customers with human-centered technology solutions that allow them to rise above the daily grind and lead their businesses into a brighter future. Learn more at heartland.us.