Cheap, Quick, Quality: Does There Need to be a Payment Trade Off?
Cheap, quick, quality. You can have two, but not all three. Or is that really the case?
Do You Have to Compromise on a Payment Provider?
All organisations want to give their customers a great experience when they engage. This is important for organisations that are fighting for customers on a daily basis, but arguably as important for those who engage with regular customers’ week in, week out. Being able to manage your digital payment services is a key part of your ongoing relationship with your customer. It should be in your control.
When it comes to building the online payment solutions, you can take fully-hosted solutions that restrict the flexibility you’re able to offer to customers. Invariably, it can mean sacrificing important parts of the user journey.
Building payments method integrations from scratch is complex, time consuming and requires very specific knowledge. The regulatory and compliance considerations also present huge liability risks if not correct.
Once a payment is made, you want to ensure that your back office systems are aware in real time. Even short delays to aligning can cause issues for communicating to customers and general business visibility. Seamless participation in the platform eco-system creates economies of efficiency with wider business benefits.
Failing to keep the user experience up to date, and maintain compliance, can lead to a degradation in trust. You need complete faith from your customers when they send you their money.
In looking to balance out each of the competing needs, compliance and user experience are key aspects that shouldn’t be compromised.
How Can PayPoint Help You Achieve Value, Speed and Quality?
PayPoint provides a digital payments solution through hosted elements and APIs that can be flexibly used across web and app channels. With MultiPay, there is also the capability to ensure that other systems such as CRMs, ERPs and income management systems are informed of payments made by customers in real time.
Using a combination of hosted elements and APIs, you can be totally flexible in how you present the payment pages to customers. You can control the user journey in a great amount of detail, and importantly the experience of the customer when they engage with you.
By PayPoint hosting key parts of the information needed from customers, you reduce the need to come into scope for PCI compliance. Many of the compliance and regulatory complexities are handled in the PayPoint environments where we hold Level 1 PCI Compliance.
The method means that you have achieved the flexibility and addressed the compliance issues without the expense associated with more point-to-point integrations. Additionally, you are able to link each transaction to your core back office platforms in near real time with our light touch APIs.
Delight customers with a flexible and low friction payment journey; ensure regulatory compliance and do it quickly and with low cost.
PayPoint specialises in innovation. By challenging the old orthodoxies, we support our clients to evolve their organisations. Value, Speed and Quality with PayPoint’s Digital Services, MultiPay.
Mark Anderson, MultiPay Product Manager