What are the three dimensions merchants must look for in a payment system?

By Falk Brügmann on 17. October 2013 in Inside PAY.ON, Open Payment Technology
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Choosing the suitable payment system is critical for the merchant’s business success, especially if he is a global player or if it is in his strategic plan to become one.

In the first dimension merchants must look for the ability to adapt and customise the solution. It must integrate well into their offering and cover all necessary work flows and business cases. This way, the merchant will not be stuck in a dead-end solution when new business cases come up.

Deciding which payment system or which PSP/ISO is the suitable one and best covers the technical as well as business requirements of the merchant is a demanding task, but if merchants follow a simple evaluation method, search efforts can be reduced to a minimum: Merchants must look for PSP/ISO offerings that have breadth and depth – that are three-dimensional.

Secondly, merchants must look for solutions that support a broad range of payment methodsfrom different countries and that offer an optimal fit of alternative and traditional payment methods. This way, the merchant will be able to utilise the payment methods that are popular locally, if the merchant should decide to expand its operations to additional countries.

As a third dimension, merchants should make sure that the solution supports a full set of different channels and devices. This way, the merchant will not have to switch providers when expanding to new channels, such as POS or mobile.

At PAY.ON we offer exactly this. Our payment service providers/independent sales organizations can serve their merchants in a three dimensional way: a fully customisable solution, comprehensive global coverage regarding payment methods, and complete omni-channel and omni-device support.

 

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Falk BrügmannView all posts by Falk Brügmann

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