In today’s dynamic retail environment, shopping is no longer confined to a single channel. Customers seamlessly navigate between digital and physical touchpoints – discovering products on social media, reading reviews online, visiting stores to see items firsthand, and completing purchases on mobile apps. In fact, 60% of UK shoppers, visit physical stores to view products even if they intend to buy online. This interconnected journey has shifted from being a luxury to an expectation.
To meet these evolving demands, an omnichannel payment strategy is indispensable. They enable retailers to create a unified and flexible shopping experience, allowing customers to transition between channels without losing their transaction history or preferences. Whether shopping online, in-store, or through an app, customers expect payment options that align with their preferences – delivered through a consistent, branded, and frictionless checkout experience.
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A strong omnichannel payment strategy goes beyond the purchase, covering the entire customer journey, including returns and refunds. Businesses that adopt these strategies improve customer satisfaction and retain an average of 89% of their customers, compared to just 33% for those with weaker approaches.
Three practical ways to transform multichannel payment systems into a seamless omnichannel experience
Leverage smart Pay-by-Link solutions with flexible payment options
Customers value convenience and expect the freedom to pay with their preferred method, whether it’s a card, bank transfer, or digital wallet. It’s not enough to offer these options – they must be available consistently across all channels. For instance, a customer using Apple Pay in-store should find the same option online. This consistency and personalisation enhance the shopping experience, reduce abandoned carts, and help businesses cater to diverse audiences by addressing regional preferences and emerging trends.
Pay-by-link solutions bring the checkout process directly to the customer, wherever and whenever it’s most convenient for them. For example, after a personal consultation – whether in-person or online – a luxury retailer can send a secure, branded payment link via SMS, email, webchat, or messaging apps. These links offer multiple payment options, giving customers full control over how and when they pay, ensuring the luxury experience extends all the way to checkout.
By combining pay-by-link capabilities with consistent payment options across web, app, and in-store channels, businesses create a truly unified, customer-centric payment journey.
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By GlobalDataHarness social commerce to bridge generations and expand reach
As of April 2024, more than 5 billion people actively use social media, collectively spending 12 billion hours daily on these platforms. Millennials and Gen Z, in particular, are drawn to social commerce, with nearly a quarter of these consumers citing Facebook and Instagram as their go-to platforms for shopping. Social commerce boasts conversion rates up to 10 times higher than traditional e-commerce. In 2023, social commerce generated an estimated $571bn worldwide, with projections to surpass $1trn by 2028.
By integrating pay-by-link features into live videos on social platforms like Facebook, Instagram, and TikTok, businesses can engage directly with audiences in their preferred environment, driving sales while delivering a shopping experience perfectly aligned with modern consumer habits.
Streamline payment operations using data analytics and automation
The post-purchase experience is just as critical as the initial sale. Customers expect smooth and consistent returns or exchanges, regardless of the channel – whether returning an online purchase in-store or handling an in-store exchange through a mobile app. Integrated systems that connect payment methods, transaction records, and inventory are key to achieving this. For example, a customer returning an online purchase in-store should receive a quick and accurate refund without additional steps.
Data analytics and automation further optimise the process. By analysing transaction histories and behaviour patterns, businesses can identify preferred payment and delivery methods, streamline returns, and refine the checkout to reduce friction. Features like saved cards, recurring payments, and staged payment options personalise the experience and increase payment success rates.
Predictive analytics also helps tackle issues like cart abandonment by refining the buyer journey. Automated reminders or personalised discounts can encourage customers to complete purchases they left behind.
Seamless returns, combined with data-driven insights, create a cohesive post-purchase experience that builds trust, fosters loyalty, and drives long-term success.
Turning multichannel payments into an omnichannel experience is more than a technical upgrade – it’s a strategic investment in customer satisfaction and loyalty. By harnessing social commerce, offering flexible pay-by-link solutions, and leveraging data analytics, businesses can deliver a seamless, personalised journey that meets the expectations of today’s shoppers.
The benefits are clear: satisfied customers, stronger relationships, and a competitive advantage in a connected marketplace. Now is the time to refine your payment strategy and provide the omnichannel experience your customers expect.
Adam Ball is chief commercial officer at Prommt
