The global retail industry is undergoing a quick transformation, and online payment technology is emerging as one of the key drivers. Online payment technology brings value as well as innovation.
The global retail industry is undergoing a quick transformation, and online payment technology is emerging as one of the key drivers. Online payment technology brings value as well as innovation. The global retail industry must provide a smooth purchase experience to the customers; be it through online or offline channels. More than 70 percent of global retail sales are still generated from physical stores. But, with technology-assisted upgrades, consumers are becoming more accustomed to making online payments.
Decoding the importance of online payments
As multi-channel payments are getting more popular worldwide, Windo is focused on providing the best available options to its sellers. Nevertheless, online payment is turning into a deciding factor for physical stores too. The offline retail sector must integrate digital payment methods to increase consumer interaction. Increased payment processing speed and convenience will allow consumers to make fast shopping decisions.
On the other hand, eCommerce stores looking to minimize cart abandonment need to offer customers multiple, easy, and secure payment solutions. Multiple and secure payment options will eventually encourage the end user to initiate the transaction, leading to lesser cart abandonment and higher customer satisfaction.
About Windo payment integration
Payment integration on a Windo store involves a few simple steps, and broadly there are two options available:
Online payment: Here you can add 3rd-party payment partners like Stripe, Paypal, and Flutterwave.
Offline payment: Here you can select either Cash or other custom payment option like bank transfer, UPI, Venmo, and UPI.
After integrating online payment methods, customers visiting the physical stores can make a quick transaction without depending on the availability of cash. On the other hand, the physical store can instantly receive the amount in the linked account.
Likewise, when an online seller integrates multiple payment options into their Windo store, then every time a customer adds an item to the cart and moves to the checkout page to make the payment, they will have a multitude of payment options to pick from that are available in their country. Once the payment is initiated, the seller will be updated on successful payment confirmation/time-outs/failed payments.