Posted February 20, 2017 by FreedomPay

Retailers Plan to Invest in Omnichannel Excellence

Customers may not understand the term omnichannel, but they know they like it. A buyer expects a seamless experience that bridges the gap across in-store, web and mobile.

Behind the scenes, the retailer may be left with a whirl of managing disparate systems like point-of-sale, payment processors and incentive engines. But the customer doesn’t care about these struggles. The entire customer experience across all touch points should deliver a safe, secure and uniform experience.

Connected consumers aren’t going away, and retailers are still struggling with that fact. Forrester estimates B2B e-commerce will top $1.1 trillion and account for 12.1% of all B2B sales in the U.S. by 2020. On the consumer side, Forrester has forecast B2C e-commerce will grow to $480 billion in online sales by 2019.

Presenting a single face to the customer requires a deep integration of payment systems with a high-performance, secure user experience. That’s where retailers plan to invest in 2017, according to the RSR Research benchmark report. The research shows improved payment security is among retailers’ top priorities for 2017. Additionally, budgets show one in four retailers will implement analytics to evaluate cross-channel data over the next year, in efforts to understand and optimize omnichannel sales.

FreedomPay recognizes the challenge facing retailers implementing omnichannel experiences, and offers a unique system of three secure payment solutions to reduce PCI compliance requirements and deliver retailers data security for payments across their many channels.

  1. FreedomPay’s Hosted Payment Page for ecommerce transactions is a white-labeled responsive design solution for accepting user payment information, authorizing transactions, and returning a tokenized authorization.
  2. With FreedomPay’s Payment Information Proxy, transaction and cardholder data from third party sites, like Online Travel Agencies, is captured and tokenized prior to entering a point-of sale or property management system enabling merchants to maintain PCI compliance.
  3. FreedomPay’s Virtual Terminal solution with PCI- validated P2PE secures card-not-present transactions for inbound phone and back-office transactions by removing sensitive cardholder data from network environments.

As the world of commerce changes, so do the payment systems that support it. By combininig FreedomPay’s three-tiered approach to omnichannel payments with their card-present payment security, FreedomPay provides retailers a growth platform that requires minimal reinvestment or operational overhead. If you’re investing in omnichannel, safeguard your investment with an enterprise payments platform that supports you and your customers every step of the way.