Merchant services for multiple channels is a issue for which global acquirers and payment service providers have developed solutions in the short time since ecommerce was born. With the rise of the World Wide Web and the global expansion of retail brands, the ability to conduct transactions online has never been easier – or more complicated! This article from ACI, issued as a press release for viral publication, details the various impacts of current trends within the payments space on multi-channel retailers and the need for agile technology that will support future business objectives.
Expansion of ecommerce goes hand in hand with greater adoption of electronic payments which are expected to grow in volume at nearly 5% a year to reach 299 billion items by 2012.
The international dimension is particularly important for those selling “virtual goods” downloadable music, software and services which require no physical distribution. Increasingly, multiple languages, multiple currencies and differing fiscal, legal and financial regulations must be addressed.
We are entering the era of the omni-channel merchant who offers a seamless customer experience across all channels online, mobile and store and has the front and back-office systems to tie it all together.
Multichannel merchants must also address the ever-present issue of fraud. The delay between payment authorization and settlement makes online retailers fertile ground for fraudsters.
Merchants need consolidated, flexible, scalable and efficient platforms to help them realize their strategic goals and tactical programs without compromising customer confidence.