In today’s digital age, consumers expect seamless payment experiences across all channels. To meet these expectations, a lot of businesses are increasingly adopting omnichannel payment systems.
For the uninitiated, omnichannel payment refers to the payment ecosystem that gives customers the freedom to purchase and pay for their goods and services from any platform they wish.
Over time, omnichannel payment has really become the new normal for customers. This has led to merchants looking for ways to build the infrastructure that’s suitable for omnichannel payments.
In this article, we bring to you a practical guide to set up the omnichannel payments infrastructure.
How to Set Up Omnichannel Payments Infrastructure
Omnichannel payments allow customers to make payments through multiple channels, such as online, mobile, in-store, and more and provide a consistent experience across all channels.
Here are the ways how you can implement omnichannel payments for your customers.
- Choose the right payment gateway
A strong payment service provider is the central pillar on which the whole omnichannel payment infrastructure rests. Finding the right payment gateway that is reliable, secure, and supports all payment options is the first step you need to take.
Look for a payment gateway that can seamlessly process payments via debit cards, credit cards, net banking, UPI, digital wallets, etc. Although, the responsibilities of a good payment gateway doesn’t end at that. It must be adept with processing refunds, quick with reconciliation, and offer innovative payment solutions.
- Integrate offline payments
As a merchant who wants to offer omnichannel payments to customers, you must prepare to integrate digital payments to your offline channels. There are different ways you can do that.
However, before coming to these solutions, you should only partner with payment providers that can do both, online as well as offline payments.
Interesting Read: Make Omnichannel Payments Easier With Paytm for Business
Coming to in-store payment solutions – your payment offering must be the combination of convenience, speed, and safety. This is the trifecta that every customer is looking for when they decide to shop.
Solutions such as point of sale devices and QR code devices that allow payment from all fintech apps should be the intrinsic part of your omnichannel payment infrastructure.
- Digital payments without a website
Very often brick-and-mortar businesses need to sell products online without spending money on building a website. In such scenarios, you should also be able to collect money online from your customers.
You need a payment solution that allows you to collect payment digitally without you having to have a website. You should work with a payment provider that can offer a solution like payment links.
What Paytm Can Create an Ideal Omnichannel Customer Experience
Businesses that have integrated omnichannel payments across touchpoints should work with a payment partner that can offer a seamless and personalised experience to customers. The payment partner must have omnichannel solutions that allows customers to interact financially with your business across platforms and yet have homogeneous experience.
The customer should be able to easily access all relevant information and resources, such as their payment history, coupon codes, products they bought, and order history, from any channel.
For example, a customer bought a few bottles of kombucha from your store. Few months later, he realises he doesn’t remember which flavour he had bought. He should be able to check online and place another order of the same product. Since he is a repeat customer, you might want to offer a discount coupon for his next purchase.
Here is how Paytm can create an ideal omnichannel experience for your customers:
- Paytm Payment Gateway
Your omnichannel journey starts with Paytm Payment Gateway as it offers a gamut of services that lets your brand truly offer omnichannel payment services. With a quick onboarding process, it gets you started to accept money online immediately.
Integrating Paytm Payment Gateway will mean you can accept money online via all payment modes without any glitch or security issues. Your customers will have the freedom to pay using any payment options including debit and credit cards, net banking, UPI, digital wallets, QR code, and Paytm Postpaid.
Paytm Payment Gateway is quick with processing refunds as well. Your customers can see the refund in their account immediately.
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Suppose your customer bought something online and came to your store to return the product. You can process the refund for that product online and the customer will receive the money instantly.
In addition to this, Paytm Dashboard gives you complete visibility of where your money is coming from and where it’s going. Basically, you can track each and every transaction to get a quick understanding of money movement. This is quite important when you are building an omnichannel payments infrastructure.
- Paytm Payments Links
Paytm Payments Links will speed up your omnichannel journey. It is quick to create and easy to share with customers. This is specifically useful for merchants who want to accept money digitally without having to create a website.
You can share Paytm Payments Links with your customers via SMS or email and they can simply click on it and pay using any payment method they prefer. It supports payment options such as debit and credit cards, UPI, net banking, digital wallets, etc.
Additionally, you can send Paytm Payments Links to either one person or hundreds of customers at once. You can further customise these Paytm Payments Links. If you need to collect different amounts from customers, you can easily do that too right from the dashboard.
- Paytm smart devices for in-store payments
For online businesses looking to explore omnichannel retail via pop-up stores or even a permanent physical presence, Paytm has a set of solutions that will delight customers.
The major problem customers face at a retail store is lack of payment options. With Paytm’s All-in-One POS device, they can pay via any which way they prefer. It allows customers to pay via debit or credit cards, prepaid cards, digital wallets, UPI, QR codes, and buy now, pay later (BNPL).
Since Paytm’s POS machine is light to carry, businesses can even use it to collect money from pop-up stores.
While cards are a popular way to make payments, one of the easiest ways to accept and pay money for small purchases is via QR codes. For such retail businesses that see a lot of small payments, Paytm QR device is the perfect solution.
Getting into an unchartered territory without preparation and a reliable partner by your side is a recipe for disaster. If you are trying to implement an omnichannel experience for your customers, you should definitely partner with Paytm.
Paytm offers a suite of integrated payment solutions that are meant to create an omnichannel experience for your customers.
Frequently Asked Questions
Question: What is omnichannel payments?
Answer: Omnichannel payments refer to the ability of a business to accept and process payments from customers using various channels, such as online, mobile, in-store, and other methods.
Question: Why is omnichannel payments important for businesses?
Answer: Omnichannel payments are important for businesses because they provide customers with a seamless and convenient payment experience, which can improve customer satisfaction and loyalty. Additionally, businesses can increase their revenue streams by accepting payments through multiple channels.
Question: What are some examples of omnichannel payment methods?
Answer: Some examples of omnichannel payment methods include online shopping that includes credit and debit cards, digital wallets like Paytm, mobile payments, and bank transfers. It also includes in-shop payments experience, which includes card-led payments using POS devices, QR codes, and Paytm SoundBox.
Question: How can businesses implement omnichannel payments?
Answer: Businesses can implement omnichannel payments by choosing a payment processing solution that supports multiple payment methods and integrating it with their existing systems. They may also need to update their checkout processes and train their staff to accept payments through different channels.
Question: What are some challenges associated with omnichannel payments?
Answer: Some challenges associated with omnichannel payments include the complexity of managing multiple payment methods, the need for robust security measures to protect sensitive customer data, and the cost of implementing and maintaining an omnichannel payment system.
Question: What is Paytm SoundBox and how can I buy one?
Answer: Paytm SoundBox is a one-of-its-kind audio-assisted smart device that aims at simplifying merchants’ lives related to accepting payments online. It provides instant notification in audio format, telling you about the amount received on your linked account from a customer.
The steps to order Paytm Care as follows:
- Visit Paytm for Business official website => SoundBox to read all about the product
- Click on ‘Get Your SoundBox’ on the SoundBox page or simply click here
- Select the type of Paytm Soundbox you want to order – Paytm SoundBox, Paytm SoundBox 2.0, or Paytm SoundBox 3.0
- Place an order for the suitable product version
- Once it is delivered, install it as per the instructions given and you are ready to use it
For any assistance related to using Paytm SoundBox, you can also call us at: 0120 – 4440440 or send us an email here.