Payment processing flexibility leads to long-term success
December 23, 2013
Online credit card processing tools can help small and medium-sized businesses take full advantage of the multichannel retail experience.
Today's consumers have different expectations than they did several years ago. As digital technology continues to advance, many shoppers now incorporate bits and pieces of various media into a single purchase. For instance, an infographic compiled by Boston Consulting Group revealed a large number of Americans consult mobile applications such as Yelp to research shops before visiting in person. Similarly, many individuals are also known to practice showrooming, in which they browse items at a local business before ultimately buying the same products online at a later date.
These behaviors don't have to present obstacles to long-term enterprise growth. In fact, by investing in tools that make it easier to accept credit card payments from multiple channels, stores can not only increase long-term revenue, but they can also improve overall customer satisfaction. Satya Nadella, executive vice president of cloud and enterprise at Microsoft, recently highlighted the importance of engagement and flexibility in the business world during a presentation on the future of technology.
"New technologies help businesses engage with customers in more meaningful ways, connect us to our friends and families and allow us to see, interact with and share our world in ways never before possible," Nadella said. "But we're only at the beginning."
One of the most effective ways to leverage these trends is to invest in a streamlined retail experience through both brick-and-mortar and e-commerce channels. Just as a convenient in-store experience can lead to higher customer retention, so too can a robust online experience. Technology that allows enterprise owners to seamlessly accept credit card payments from multiple locations is more important than ever before, thanks to today's increasingly dynamic retail environment.