In this editorial, before I begin with Macronodes Payment Gateway features, I rather take the time to review the necessity of Omni-Channel Payment technology in today's e-commerce.
What is Omni-Channel Payment? What is Multi-Channel Payment?
Often confused with Multi-Channel Payment, Omni-Channel is a technology concepts that acts as an aggregation layer on top of multiple Payment Channels!
In a hypothetical scenario, assume Nike wants to establish multiple Payment channels to facilitate customer purchasing capabilities over legacy phone, online website, In-store, and on their mobile App. Hold on right here! This is Multi Channel Payment. Meaning that Nike provides multiple different channels to empower customer purchase operations. Each of those channels act independently and has their own interface with user and highly likely they collect user information independently.
And that's exactly where business problems arise and the need for Omni-Channel is felt more than ever.
What is the problem?
In the same Nike scenario, assume a customer receives an online Nike voucher and wants to spend it on next purchase. She checks Nike online website and selects the items she wants, adds them to the shopping card and instead of buying online, she decides to go to Nike shop in a near shopping center to try on the items before purchase. She takes the items and take to the cashier. At the cashier she is presented with an EFTPoS machine with the total fee! There is no discount promised on the online voucher! Call the manager! But I got this voucher in my phone and it's a valid Nike voucher! The manager: Yes we understand but apologies, the EFTPoS systems is not connected to online loyalty and unfortunately we can't process this voucher.Terrible customer experience. She has probably bought the items on total fee but she never forgets this inconsistency with the online and in-store systems.
How does Omni-Channel Payment help in this situation?
In an Omni-Channel environment, all the channels are emerged into one entry point and collects all user information and has access to all user data. The customer agent to communicate with this unified channel is and abstraction layer over their credit cards: An electronic wallet represented through wearable or handheld communication devices such as Apple Watch or Smart Phones. Now the user profile that already collected the voucher and shopping cart items is stored in their watch or Smart Phones and it will be used at the in-store Point of Sale to process this emerging transaction! The EFTPoS machine, when presented with the customer watch or Smart Phone in via NFC, instead of doing an EMV transaction right away, it collects meta data information form the customer profile and does a price adjustment if needed. Then presents the right price after applying voucher and the customer pays the right amount.
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