In today’s time, customers’/consumers expectations for convenient and seamless payment transactions are exceedingly high. With the fast-changing environment of the payment industry, people are becoming more aware of the availability of newer and much more advanced fintech, hence, their expectations of it became unimaginably high compared to the past years.
If you’re in the fintech business, you sure know that fintech companies have no problem with creating more modernized and seamless payment solutions. It’s a given fact. But, what you must do first is to analyze the expectations of the consumers/customers; reach that payment audience, and optimize their desired transactional experience.
We have here three things your fintech/payment solution should take note of, to ensure you are meeting today’s customers/consumers’ expectations.
Things consumers expect from a payment solution:
Intuitive Interface / Ease of use
Today’s customers would say that their time is essential and that they don’t want to be stuck in a prolonged payment experience. They would want to check their bill, complete payment transactions and etc, with few easy steps as possible. One strategy to completely meet the consumer’s expectations when it comes to this is to provide real-time payment capabilities. By utilizing a single platform that can perform all the necessary payment operations, you can make it easier and seamless for your customers and your own team to manage real-time payments.
Variety of payment options
As stated above, if you utilize a single platform it has to have all the necessary payment operations, this includes the choice of payment options. You must consider that your consumers come from different demographics, hence, they have different availability to adapt to the latest technology or digital payment options. Some will still stick to interacting with a CSR, so your payment solution must be diverse to support all of these inquiries in a centralized manner.
Customers/Consumers have all the rights to expect that your payment solution will live up to its promise and do everything in its power to keep safe sensitive financial information. You must give the customers peace of mind away from cyber-attacks and data breaches. By investing enormously in the security of your payment solution, you do not only protect your customer, but also your reputation.
With more emerging financial technologies these days, today’s consumers want their payment experience to be fast, easy, and secure, more than ever. By keeping up with what the consumer needs, with the latest technology, your payment solution will start to gain more flexibility, improved satisfaction from the customers, and improved operations, in no time.
So, does your payment solution meet the customer expectations?
If you are a consumer with these expectations for a payment solution, you might want to check us out at piccopay.sg
O’Brien, Jason. “4 Things Consumers Expect from a Payments System.” SWBC Blogs, https://blog.swbc.com/lenderhub/4-things-consumers-expect-from-a-payments-system.
Doxim, Written. “Does Your Payment Solution Meet Customer Expectations?” Doxim, 26 Jan. 2021, https://www.doxim.com/does-your-payment-solution-meet-customer-expectations/.
Payment Solution: Does it meet your consumer’s expectations? was originally published in Piccopay Pte. Ltd. on Medium, where people are continuing the conversation by highlighting and responding to this story.