In the age of data, it's vital for large retailers to understand their consumers' behaviour better: personalisation is key. So, buying patterns, location, the frequency of refunds - all of this is valuable information. With scattered payment systems, it can be difficult to collate and analyse this kind of data. There's a void between physical payment, eCommerce, and phone transactions.
The first true 'omni-channel' payment processing solution is a consolidation of the full range of payment methods into one platform, linking physical transactions, web payments and mobile payment processing with the back office. This is much quicker, smoother and more seamless than traditional methods of analysis and data consolidation.
For the retailers, there's no more manual data crunching, no transferring of spreadsheets and the potential for human error. Smart data automation drives efficiency and productivity. Working with retailers, AltaPay are able to drill down into the data to provide a single view of any sale, in any store, in any region. This kind of ability to zoom in means a much more comprehensive understanding of buyer behaviour. Importantly, the automatic reconciliation across all sales channels means payment processing is far simpler, allowing retailers to focus on what's most important to them: staying ahead of industry trends, managing their supply chain and making other key business decisions.
This also directly benefits the consumer, whose main priority is ease of purchase, speed, and simplicity. It puts the choice in their hands of where they choose to spend their money, without having to worry about complex payment systems. User experience has been proven to be an absolutely vital element of buying patterns, so providing a seamless journey and unrivalled customer experience can only be an advantage in a crowded, competitive marketplace.
The point to point encryption of terminals puts the power and decision making into the hands of the retailers. They can simply position the terminal wherever you'd like, connect, and you are instantly live. Combined with the instant reconciliation of payments, this is an incredibly powerful, effective solution, which benefits retailers and consumers alike.