The Card Association’s Post

The customer experience. Businesses live and die by it. Providing a strong customer experience is a non-negotiable in 2024. So why is it that billing departments in businesses we speak to don’t – initially at least – consider customer experience as being their responsibility? Marketing does. Sales does. Customer Service obviously does. After all, once a customer is up and running with your business, it is billing that is often one of the most customer-facing parts. Even in businesses with non-recurring transactions, billing remains the last component in the customer experience chain. The billing experience should enrich the relationship with better engagement that is built around the customer. Here are just a few of the ways tools, like Bluechain, make life easier for you and your customer: • More flexible payment dates. Request to Pay gives customer the opportunity to select the dates they want to pay, and whether its in full or in parts. • More choice on how you pay - credit card, direct debit, or bank transfer. • More visibility – if AR has a better view of the customer’s payment intention / behaviour, it reduces payment disputes and unnecessary chasing Happy customers are retained customers. You’ve worked hard to win them and if they stay with you, they’ll become advocates for your business and help you to grow. Check out our blog on this here - https://lnkd.in/ebHGFEsk

Credit card processing is not just a transactional process…. Think of it more as a strategic element in customer engagement. Here's why: ✅It becomes the converging point between your business and your customers, and, ✅It builds a reputation for your business in terms of security and convenience. But that's not all! In an era steadily marching into a world of digital payments, why does a decades-old process like credit card processing continue to hold such premium importance? 3 key reasons: 1. Prompt Payments: Credit card processing enables businesses to receive immediate payments, bypassing processing delays that are often inherent in other forms of payment. 2. Advanced Security: Owing to stringent regulations and advanced technology, credit card payments are considered to be a more secure payment method. 3. Global Reach: Credit cards are internationally accepted, which opens up the global market for businesses accepting credit card payments. Companies can sell products/services across boundaries with ease. Now, it's also important to understand that credit card processing isn't a one-size-fits-all operation. It varies, influenced by factors like: • The industry you're operating in • Your business model • Payment volume you handle Innovations in credit card processing technology have given a significant boost to online businesses enhancing user experience and payment security simultaneously. Contactless payments, tokenization, and adding machine learning capabilities to detect fraud, are just a few examples. To sum it up, credit card processing is not a mundane business operation - it's a strategic asset that can shape your customer experience, business reputation, and bottom-line. Always remember, a small hiccup in the payment process could switch loyal customers to your competitor. So scrutinize, innovate and always adapt to provide your customers a streamlined credit card processing experience. Any pressing concerns you encounter in credit card processing or innovations you foresee revolutionizing? Let's discuss!

Digital payment solutions can certainly improve service quality and operational cost efficiency for businesses: * Faster transactions: Digital payments eliminate the need for cash handling, speeding up checkout times and reducing lines. This improves customer experience and frees up staff time for other tasks. * Reduced errors: Digital transactions are less prone to errors than manual cash handling, leading to fewer order fulfillment mistakes and disputes. * Improved data tracking: Digital payments provide detailed transaction data that can be used to track sales trends, customer behavior, and inventory levels. This data can be used to improve business operations and marketing strategies. * Lower processing costs: Digital payments eliminate the need for printing and managing physical cash, as well as the costs associated with cash security and transportation. In addition to these benefits, digital payment solutions can also open up new opportunities for businesses, such as: * Subscription services: Businesses can offer subscription-based services with automatic recurring payments. * In-app purchases: Businesses with mobile apps can allow customers to make in-app purchases easily and securely. * Online sales: Digital payments are essential for businesses that want to sell products or services online.

Can APIs Improve the Customer Experience? Whereas the early days of software payments relied heavily on clunky redirects to external payment pages, advancements in fintech APIs have enabled companies to easily embed customized payment flows. An integration invisible to the user provides a seamless, unified experience with less friction and more completed sales. Take a B2B billing and invoicing platform, for example. An invoice that links to your software for payment versus a third-party payments page with an entirely different brand and user interface is far less confusing for end users. An embedded payments process in the software is faster and simpler, and it reassures payers with a familiar brand. With the added convenience of a multitude of payment methods (think Apple Pay, Google Pay or Click to Pay), using embedded payments makes it even easier for end users to pay—creating the enhanced customer experience SaaS businesses need to gain a competitive edge, win new customers, and increase customer retention to boot. Of course, there is no reward without some level of sweat equity—albeit, in the case of embedded payments, a minimal to moderate development lift should be expected. The initial integration will require your dev team to interface with a payments API to start onboarding clients and processing payments. As we are all aware, software and APIs are always being improved, so ongoing maintenance will be necessary to ensure the payments API and software still work together optimally. A well-constructed payments API will help minimize development time. Look for proper semantics, fast and accurate responses, up-to-date documentation and a team of experienced payment professionals available to help along the way. Reach out if you need help exploring APIs for your organization! Link: https://lnkd.in/gmyqPqdR

Is your payment system frustrating customers? But it doesn’t have to be that way. How to implement a seamless payment system: 1. Evaluate Your Current Setup ↳ Identify what's working and what needs improvement. 2. Set Clear Objectives ↳ Know what you want to achieve: faster transactions, higher security, better user experience. 3. Choose the Right Technology ↳ Select a payment gateway that supports multiple methods and is easy to integrate. 4. Prioritize Security ↳ Implement robust security measures to protect customer data. 5. Optimize for Mobile ↳ Ensure your payment system works seamlessly on mobile devices. 6. Simplify the User Experience ↳ Make the payment process intuitive and easy to navigate. 7. Train Your Staff ↳ Equip your team with the knowledge to handle payment-related issues. 8. Monitor Performance ↳ Regularly track key metrics to identify and fix bottlenecks. 9. Gather Customer Feedback ↳ Continuously collect and analyze feedback to refine the payment process. 10. Stay Updated ↳ Keep up with the latest trends and technologies in payment systems. Start improving your payment system today. PS: Small changes can lead to big improvements. Begin now and see the results. If you find this helpful: 👉 Follow me for more enlightening content. 🔄 Feel free to share and help others!

SkyTab EPOS and Payments is a game-changer when it comes to enhancing a user's business. This innovative technology offers a wide range of benefits that can significantly improve efficiency, customer experience, and overall business performance. One of the key advantages of SkyTab EPOS and Payments is its versatility. It is a comprehensive solution that combines the functionality of a traditional electronic point of sale (EPOS) system with advanced payment capabilities. This means that users can process payments, manage inventory, track sales, and access real-time analytics all in one place. With everything consolidated into a single system, businesses can streamline their operations and eliminate the need for multiple devices or software. Another significant benefit of SkyTab EPOS and Payments is its mobility. The system is designed to work on a tablet, providing users with the flexibility to take their business anywhere. This is particularly valuable for businesses that operate in multiple locations or frequently participate in events or trade shows. With SkyTab, users can process transactions on the go, reducing wait times and improving customer satisfaction. SkyTab EPOS and Payments also offers a range of features that enhance the customer experience. For example, it supports various payment options, including contactless payments and mobile wallets, allowing customers to pay in the way that is most convenient for them. Additionally, the system can generate digital receipts and capture customer information, enabling businesses to build a database of loyal customers and personalize their marketing efforts. Furthermore, SkyTab EPOS and Payments provides robust reporting and analytics capabilities. Users can access real-time data on sales, inventory levels, and customer behavior, allowing them to make informed decisions and optimize their operations. This data-driven approach can help businesses identify trends, understand customer preferences, and adjust their strategies accordingly. Security is also a top priority with SkyTab EPOS and Payments. The system is equipped with advanced encryption and compliance features to ensure that sensitive customer data is protected. This gives users peace of mind knowing that their transactions are secure and their customers' information is safe. In conclusion, SkyTab EPOS and Payments is a powerful tool that can enhance a user's business in numerous ways. From improving operational efficiency to enhancing the customer experience and enabling data-driven decision-making, this innovative technology offers a comprehensive solution for businesses of all sizes. With its mobility, versatility, and advanced features, SkyTab EPOS and Payments is a valuable asset that can drive growth and success in today's competitive business landscape.

❇️Key Components of Merchant Onboarding❇️ ❇️Automated Onboarding: Automation is an essential part of the onboarding process as it minimises manual intervention and reduces errors. Automated systems can handle complex tasks such as identity verification, compliance checks, and risk assessments. ❇️Modular approach: Flexibility is a key component as it facilitates a risk-based approach, allowing as many merchants as possible through the door, while managing risk. ❇️Regulatory Compliance: Ensuring that new merchants comply with relevant local and international regulations, forms a critical step in the onboarding process. However, performing the right checks at the right time reduces friction while allowing your organisation to expend the right amount of time (and money) when necessary, and not before. ❇️User Experience: As UX equally applies to all consumers, it has now become an expected part of merchant onboarding. A smooth and intuitive onboarding experience can significantly impact a merchant’s perception of a payment provider. Simplifying the application process and reducing the amount of manual key entries, are essential elements of a positive onboarding experience. ❇️Technological Integration: Modern onboarding solutions should seamlessly integrate with existing business technologies. This includes payment gateways, e-commerce platforms, and customer relationship management (CRM) systems. Effective integration ensures that merchants can start processing payments with minimal disruption to their operations.

Consistency is crucial Consistency is crucial for customers in various aspects of their interactions with businesses. Consistency builds trust and reliability, which are essential for maintaining customer satisfaction and loyalty. Here are several areas where consistency is important for customers: Consistency in customer service means providing the same level of support and assistance every time a customer interacts with your business. This includes consistency in response times, problem resolution, and the overall customer experience. Consistency in the user experience, whether it's on a website, mobile app, or physical store, helps customers navigate easily and efficiently. Inconsistent user experiences can result in confusion and frustration. Consistent communication with customers, whether it's about updates on their orders, promotions, or any changes in policies, helps build trust and transparency. Customers appreciate consistency in pricing. Unexpected price changes or inconsistencies in pricing across different channels can lead to distrust and frustration. Overall, consistency creates a sense of reliability and trustworthiness, which are essential for retaining customers and fostering long-term relationships with them. Businesses that prioritize consistency across all aspects of their operations are more likely to succeed in building a loyal customer base. The Scandi Automation Business rules engine can definitely help in maintaining consistency across various aspects of customer interactions. Our rule-based engine uses predefined sets of rules and logic to automate decision-making processes. Our rule-based engine can automate decision-making processes based on predefined rules. For example, they can ensure consistent application of policies and procedures in customer service interactions, ensuring that every customer is treated fairly and consistently. The Scandi Automation rule-based engine can automate various workflows and processes, such as order processing, inventory management, or customer onboarding, ensuring consistency and efficiency in operations. Businesses often have specific rules and guidelines regarding pricing, discounts, promotions, and other aspects of customer interactions. Scandi Automation rule-based engine can enforce these rules consistently across different channels and touchpoints. Business decisions made easy!

As automation and AI continue to shape businesses, personalized customer service remains paramount. In times of need, customers seek direct communication and swift issue resolution. Building relationships and offering personalized service are essential foundations that businesses should expect from suppliers, customers, and their partners. #CustomerService #BusinessRelationships #WhereBusinessBanks

How to transform your customer service without breaking the bank Your Customer Service Strategy for 2024/25 - Implement AI voice agents - Train human agents for complex issues - Monitor and optimize performance 'But why should I care?' Here's why: 1. Implement AI voice agents - Handles routine inquiries 24/7, reducing wait times - Frees up human agents for high-value interactions - Saves costs while improving customer satisfaction Key Insight: Lending Club implemented AI voice agents during the pandemic, resulting in a 60% reduction in routine inquiries and a 40% decrease in average wait times. This not only improved customer experience but also allowed human agents to focus on more complex issues. 2. Train human agents for complex issues - Develops expertise in handling nuanced customer needs - Increases job satisfaction and reduces turnover - Improves resolution rates for difficult cases Training tip: Focus on empathy, problem-solving, and product knowledge. Equip your team to handle the issues that truly require a human touch. 3. Monitor and optimise performance - Tracks key metrics like resolution time and customer satisfaction - Identifies areas for improvement in both AI and human interactions - Ensures continuous enhancement of your customer service strategy Optimisation tip: Use AI-powered analytics to gain insights from every interaction. This data can help you refine your AI voice agents and improve human agent training. Will this strategy solve all your customer service problems overnight? No, but it's a solid start. Remember, transforming your customer service is a journey. You might face challenges along the way, but the long-term benefits are worth it. The goal is to create a balanced approach that: - Efficiently handles high call volumes - Provides personalised service when needed - Continuously improves based on data and feedback This strategy can help you stay ahead in 2024 and beyond. Now, it's time to take action. Your customers are waiting.