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What are omnichannel payments, and why should every merchant be using them? “In the case of payments, omnichannel — literally meaning multiple channels — refers to the ability to take payments in a variety of ways without a jarring difference in convenience, service or even branding,” according to business.com.
Offering your merchants an omnichannel payment hub can put you at a huge advantage over other resellers. By providing them with the right tools for the job, you can set your merchants up to boost their revenue, and prove your value at the same time. However, some decision makers don’t understand the value of omnichannel payments offhand. If your merchants could use some education on why an omnichannel payment hub is the right move, here are a few reasons they should make the switch:
No Need to Piece Together Services
Obtaining all the necessary payment or invoicing services from more than one vendor can have drawbacks. If your merchants are seeking credit card payment processing, ACH payments, digital signature options, an online payment portal and/or IVR services, getting them from different providers can get messy. If you offer your merchants a system that can do all of these at once, you simplify life for your merchants and prove yourself extremely valuable.
No Need to Learn Multiple Systems
Shopping for several processing systems can turn into a headache. Implementing them and training office staff can be a nightmare. Once your merchants have decided on the vendors they want for each service, they must then deal with the logistics of making them all work within their office processes. While this isn’t ideal, merchants may not know any other way to get all the payment functions they need. Show your merchants the time they can save by implementing just one easy omnichannel system.
Only Deal with One Vendor
When a merchant has a patchwork of systems strung together to fulfill their processing needs, it can be hard to get answers when something goes wrong. An omnichannel system only requires one point of contact for customer support. This can mean keeping the operation in-house with you, or passing it along to the solution you’re reselling. Either way, merchants will experience less frustration, and faster service.
Control Tasks in One Place from Start to Finish
Omnichannel can mean more than just accepting payments in different ways. To maximize the value you provide to your consumers, offer an omnichannel system that is a start to finish solution to back office processes. Provide mix-and-match eSignature, document delivery, photo uploads and payment requests. Give merchants a system that can request payments through text, email, or chat. Once the digital wet signature, document and/or payment have been received, a full omnichannel system will provide reporting and store payment documentation for easy access later.
Most independent selling organizations offer all the same gateways. Providing merchants with an omnichannel payment hub is the easiest way to stay competitive with other ISOs.
Curious how PDCflow’s Payment Hub compares to other payment gateways?