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6 things to remember when planning a Converged Commerce™ strategy

More and more businesses are now merging sales channels, customer journeys and data to focus on the bigger picture and meet customer expectations in today’s digital age. We call this process Converged Commerce™.

Converged Commerce‘s goal is to provide customers with clear and real-time information about products, prices, and availability. Through this eCommerce strategy, businesses will achieve synergy between consumer touchpoints so that the entire customer journey feels seamless.  

A Converged Commerce approach essentially integrates all of the business systems, such as order fulfilment, inventory control, customer relationship management, and point of sales, into a single platform. A single platform allows businesses to monitor the performance of each channel from a single place.

Putting Converged Commerce™ into practice

In this article, we’ll explore six tips you need to know when planning Converged Commerce™:

Tip 1: Embrace mobile payments

Mobile payments are becoming increasingly popular, with many consumers preferring to use their smartphones to make purchases. By offering mobile payment options, businesses can cater to this growing trend and provide a convenient payment experience for their customers. Some popular mobile payment options include Apple Pay, Google Wallet, and Samsung Pay.

set new goals for your business
customer using full suite of payments to pay online with converged commerce

Tip 2: Integrate online payments

Integrating online payments into your Converged Commerce™ strategy is crucial for meeting customer expectations and increasing sales. By offering online payment options, businesses can cater to customers who prefer to shop online or who may not be able to visit a physical store.

Tip 3: Implement POS systems

POS systems are essential for managing transactions and inventory in a physical store. By implementing a POS system, businesses can simplify payment processing, track sales and inventory, and improve customer experience. Modern POS systems can also integrate with other payment options, such as mobile and online payments.

customer using mobile payment to shop with small business owner accepting payment with a pos machine
customer using epos system to checkout in retail store

Tip 4: Utilise ePOS

ePOS systems, or electronic POS systems, are the digital version of traditional POS systems. They can be used on a tablet or other mobile device and can provide a more flexible payment experience for businesses. ePOS systems can also integrate with other payment options, such as mobile and online payments.

Tip 5: Prioritise fraud prevention measures

With the increase in digital transactions, fraud prevention measures are becoming more important than ever. By prioritising fraud prevention measures, businesses can protect themselves and their customers from fraudulent activity. Some measures include two-factor authentication, encryption, and PCI compliance.

Tip 6: Use an online shop builder

An online shop builder can help businesses create an online store quickly and easily. These platforms provide templates and tools for building a professional-looking online store, as well as features such as payment processing and inventory management.

Remembering these six tips when planning Converged Commerce™ can help businesses optimise their payment processes, improve customer experience, and increase sales.

How can you succeed with Converged Commerce™?

The heart of Converged Commerce lies in an unwavering dedication to providing the best possible service to the customer.  It is imperative that businesses set common KPIs for basket size, customer satisfaction, and revenue for all departments. When departments are assessed on their own, KPIs often conflict, and a customer-centric mindset is not achieved.

Setting these KPIs requires a deep understanding of your customers. Where do my customers want to shop? How important is in-store service or fast home delivery to them? The next step is identifying processes that you can set up or improve based on your razor-sharp vision and strategy.

Lastly, it’s important to find the right partner to help you design and implement your Converged Commerce strategy. With Converged Commerce, complexity can be reduced, and bundled solutions can be found that meet many needs, including payment-related ones.

Get started with Converged Commerce™

As we learn more about Converged Commerce and look at the future customer, it is obvious that it will be the future of eCommerce. 

The sooner businesses realise its importance, the more likely they are to grow their customer base. Even though it may seem like a large task, you can easily migrate to a unified commerce approach with the help of the right experts. 

At Trust Payments, we help businesses maintain deep and meaningful relationships with their customers every step of the way. We provide the best payment solutions, from supercharged payment systems to loyalty and omnichannel solutions, to help them futureproof and power their growth. Get started today!

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Security is our top priority at Trust Payments and we strive to ensure that all data is kept secure at all times We keep all customer data safe with AES256 encryption, SSL Certificates, and a minimum of TLS1.2, between your website and our datacentres.

Our systems are scanned quarterly using the Qualys PCI Platform, an independent Qualified Security Assessor (QSA) and approved vendors – Omnicybersecurity (UK) & Forgenix (US) – to ensure compliance with the security requirements of the card schemes.

We follow a number of rigorous security procedures on a daily basis including, but not limited to, continuous monitoring of our perimeter, dark web monitoring, and internal checks to ensure that CIA triad is maintained at all times.

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