PaymentsJournal
SUBSCRIBE
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
No Result
View All Result

Frictionless Payments Can Enhance Customer Experiences  

Connie Diaz De Teran by Connie Diaz De Teran
February 13, 2023
in Analysts Coverage, Digital Payments
0
Digital Payments
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

Businesses are continuing to look for ways to deliver frictionless payment experiences for consumers, and there’s no greater battleground for customer loyalty than the online checkout counter. A less-than favorable online payment experience can result in abandoned carts, driving customers away.  

Embedded Payments Provide Frictionless Digital Payments 

As we approach a potential recession, there will be fewer discretionary spending among consumers. Simplifying the customer payments journey and ensuring that there are no hiccups from start to finish is critical for all businesses. One way to improve the customer experience is by incorporating embedded payments.  

Embedded payments are, in essence, a frictionless payments method. Customers can save a payment method for later use, without taking out their credit card—it’s already on file. Overall, there has been an influx of digital payments that have proliferated across various industries. In the QSR space, restaurants have adopted various types of digital payments by integrating self-serve digital ordering, enabling servers to deliver the best customer experience and not fumbling with manually taking orders or having to run credit cards on point-of-sale (POS) systems.  

Meanwhile, on the B2B side, suppliers can now automate invoicing as well as collection, using an embedded form of general ledger reconciliation, accounts receivable solutions, as well as payment credentials.  

Looking Ahead 

The advantages of incorporating the right payments solution for your business is two-fold; not only will it increase loyalty, thereby driving more sales, the back-office will also benefit as it will see greater productivity, which means an acceleration of cash flow. In this ever-evolving payments landscape, it’s critical that businesses focus their efforts on enhancing the customer payment experience as much as possible—whether it’s by integrating embedded payments, cutting costs, or testing out various technology in this ever-evolving space.  

Tags: b2b paymentsCredit Cardscustomer experienceEconomic recessionembedded paymentsFrictionlessfrictionless paymentsPOSQSR
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

    Analyst Coverage, Payments Data, and News Delivered Daily

    Sign up for the PaymentsJournal Newsletter to get exclusive insight and data from Mercator Advisory Group analysts and industry professionals.

    Must Reads

    live shopping, ebay

    Q&A: eBay Exec on Live Shopping and the Future of Payments

    March 24, 2023
    AI and Biometrics in Regulatory Compliance in Finance

    The Importance of AI and Biometrics in Regulatory Compliance in Finance

    March 23, 2023
    Everyone Benefits from the Real-Time Payment Networks  

    Everyone Benefits from the Real-Time Payment Networks  

    March 22, 2023
    commercial payments

    Optimizing Commercial Payments in the Digital Age

    March 21, 2023
    cross-border payments

    Cross-Border Payments: Fighting
    E-Commerce Fraud Using Data

    March 20, 2023
    fraud, ChatGPT-4

    How to Fight Fraud While Still Enabling a Great Online Customer Experience

    March 17, 2023
    RTP

    Financial Institutions Without an RTP Strategy Risk Being Left Behind

    March 16, 2023
    visa chargeback

    New Visa Chargeback Guidelines Will Be a Game Changer

    March 15, 2023

    Linkedin-in Twitter

    Advertise With Us | About Us | Terms of Use | Privacy Policy | Subscribe
    ©2023 PaymentsJournal.com

    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Videos
    Menu
    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Videos
    • Industry Opinions
    • Recent News
    • Resources
    Menu
    • Industry Opinions
    • Recent News
    • Resources
    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Industry Opinions
    • Faster Payments
    • News
    • Jobs
    • Events
    No Result
    View All Result

      Register to download the Payoneer eBook: