In this editorial, before I begin with Macronodes Payment Gateway features, I rather take the time to review the necessity of Omni-Chann...

6 Ways Macronodes Omni-Channel Payment Gateway Improves Merchants Business



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.

How does Macronodes Omni-Channel Payment Gateway help merchants?

1. Business Intelligence 

Equipped with built-in big data and BI technologies, Macronodes Payment Gateway has access to every bit of information to deliver unique customer experience.

2. Support for both manual and smart device online shopping

 Customer can purchase online by entering credit card information in the PCI-friendly IFrame menu smoothly embedded in the merchant's online store, or they can use their smart device to capture the sales information through digital barcode and finish the payment in their smart device. In this case, the customers have zero necessity to present their credit card information online or even login to another profile such as Paypal to finish the payment.

 3. Same use experience at in-store purchases

 Customers can use their smart device to conduct an NFC transaction. The EFTPoS will use Macronodes value added service plugin to handle both metadata and the financial transaction.

4. Data

 All customer purchases, whether online, over the phone, or in-store will be cleared in a single settlement operation. Therefore, merchants can have a total view of their sales transactions connected to user profiles. They can leverage this unification of data to define better customer loyalty or any other marketing campaign.  

5. The network effect

 Macronodes Omni-Channel solution enables the users to involve their social network and therefore helps scaling merchant business without spending money on advertisement and marketing. 

6. Security

 Cardholders are not have to enter their credit card information every time on different merchant websites. Chargeback and Card Not Present fraud will significantly decrease.

Please contact Macronodes to discuss your solution. 


1 comment:

  1. It is what I was searching for is really informative. It is a significant and useful article for us. Thankful to you for sharing an article like this.Integrated Payment Systems Singapore

    ReplyDelete