Shifting to digital platforms is priority number one for all merchants but making the switch can be a hassle — more so as regards to upgrading the payment experience ahead of a crisis.
According to Visa, meeting a competent technology provider and entering relationships with the right payment experts is critical in implementing trending methods.
“The checkout experience is changing and evolving,” Josh Park, A senior executive at Visa, told PYMTS. “Luckily, the market has a rich pool of resources for merchants to rely on.”
Across the board, COVID-19 has pushed the payments sector to tap into the many digital methods— particularly mobile-based payments, contactless transactions, automatic invoicing, and digital checkout.
The senior executive hinted that Visa has so far recorded remarkable adoption in contactless payments with rates surpassing 100 percent in the United States only—in all “day-to-day spend” categories.
Park also cited that customers are increasingly in need of new eCommerce transaction experiences.
That’s why Visa & Cybersource have been working with various partners to help them understand the changing needs of merchants in a bid to improve onboarding and payment collection & processing services.
Working with Authorize.Net, Cybersource recently rolled out a new-fangled partner marketing platform to supply their partners with the ground-breaking tools and technologies essential in helping their merchants make the digital shift.
Some of the things the partners can benefit from the platform include;
- Exhibition and sales facilitation materials
- A content library,
- Co-branded customized material
- Product flyers
Lastly, a video bank with up-to-the-minute videos containing crucial insights like product reviews and shopper success tales.
“There are several technologies for virtually any merchant, but we have seen an increase in the adoption of common tools like the Virtual Terminal in accepting payments where, perhaps, a micro-business doesn’t need a complete website, but can still take payments via mobile devices or a laptop,” said Park.
Merchants must be quick to meet the rising demand for omnichannel payments. Shoppers now prefer methods like buy-online-pick-instore, all of which come with different security risks.
According to Visa, that explains why business owners must go for capable service providers with reliable fraud protection capabilities like Visa & Cybersource.
Author Bio: Payment industry guru Taylor Cole is a passionate payments expert who understands the complex world of merchant accounts and retail merchant services review. He also writes non-fiction, on subjects ranging from personal finance to stocks to cryptopay. He enjoys eating pie on his backyard porch, as should all right-thinking people.