PAYMENTS

It ’ s up to payments providers to deliver businesses with the payments solutions they need , be it digital payments , contactless payments , embedded payment offerings or Buy Now , Pay Later ( BNPL ) solutions .

For payments providers , meeting the diverse needs of their clientele may make it hard to pinpoint the core qualities needed in their technology stacks and product suites .

Making transformative payments integration seamless Maciej Pitucha , VP of Product and Data at Mangopay , believes the most important thing to consider is “ seamless integration ”.

Of course , this means a business ’ payments transformation efforts ultimately have the potential to be effortless .

Pitucha adds : “ Being able to provide every part of the payments infrastructure , combined with the ability to integrate with the existing technology stack , offers a modularity that has proven powerful and appealing to our clients .”

By providing seamless integration , not only do payments providers boost their prospects of growing their customer base , but they can also help drive the development of all-in-one operational ecosystems .

“ Here , businesses can not only make transactions but also access a range of financial services , including instant payments , BNPL options , real-time invoicing and quick credit access ,” adds Pitucha . “ For endusers , this greatly streamlines their shopping experience .”

Indeed , giving end-users the flexibility to complete a payment in the way they want is a massive advantage for businesses today , particularly when it comes to boosting acquisition and retention rates .

As Nicole Olbe , Managing Director UK at Adyen , tells us : “ Consumer trends move fast , so payments providers need a solution to adapt quickly .”

Businesses not only need to offer the payments options consumers seek today , but must also be able to adapt to new payments options that hit the market .

“ It ’ s important to stay one step ahead by enriching the omnichannel approach with a unified commerce offering ,” adds Olbe .

“ Merchants need to know the customer behind each payment . With valuable cross-channel insights , merchants are connecting transactions to individuals to build a deeper understanding of customer behaviour .”

This is helped by consolidating payments into one system , which enables merchants to “ easily track their business performance across channels and regions , and therefore make more informed business decisions ,” according to Olbe . fintechmagazine . com 99