NetworkNewsWire Editorial Coverage: When it comes to ecommerce, integrated payment solutions provide consumers more flexibility in their shopping than ever before. The conveniences of these solutions have long been in the making (the first online payment services started in the 1990s) and today promise to be the future of payments. For consumers, integrated payments mean the capability to initiate a transaction on a smart device, complete the buying process online, and finalize the transaction in store or via home shipment. For merchants, this translates to streamlined accounting, stronger customer relationships, integrated payment acceptance into next-generation and legacy point-of-sale systems, customer management systems, and more selling and marketing opportunities through business data analytics and loyalty programs. The companies driving this improved consumer experience include Net Element, Inc. (NASDAQ: NETE) (Net Element Profile), (which offers an array of omni-channel payment solutions, as well as Vantiv Inc. (NYSE: VNTV), Global Payments Inc. (NYSE: GPN), Amazon.com, Inc. (NASDAQ: AMZN) and Alphabet, Inc. (NASDAQ: GOOG).
Payment processing integration saves merchants time by eliminating manual processes such as entering credit cards. It also has the potential to reduce human error, increases cash flow, and reduces labor costs. Integrated payments can also allow merchants to accept payments across multiple sales channels such as: face-to-face, online, mobile, smart televisions and in-application. In doing so, integrated payments can improve customer service as…
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