In retail, using an omnichannel payment strategy is important for staying competitive and providing great customer experiences. Curv POS enables retailers to easily integrate payment processing across all channels, providing a complete solution. Let’s explore the key benefits of omnichannel payment processing and how Curv POS enhances retail capabilities.
Omnichannel payment processing allows retailers to provide a consistent payment experience across different channels, like in-store, online, and mobile. This also enables online ordering and online payments. Curv POS enables retailers to use omnichannel payment processing on various devices. These devices include countertop terminals, mobile point-of-sale systems, tablets, and smartphones. Retailers can adapt to customers’ needs and offer a smooth payment process, improving convenience and customer experience.
Curv POS allows retailers to easily process payments and integrate with the Payarc Gateway for a smooth experience. This integration allows retailers to securely process transactions and accept various payment methods, giving customers more choices. Whether it’s credit cards, mobile wallets, or contactless payments, Curv POS enables retailers to cater to the preferences of their customers.
POS Products Synchronization
Curv’s retail-focused capabilities extend beyond payment processing. It offers seamless synchronization between POS products for onsite and online orders. This means that retailers can manage their inventory, track sales, and process orders in real time, regardless of the channel. The synchronization between onsite and online transactions enables accurate inventory management, reduces the risk of overselling, and enhances efficiency.
Curv POS goes beyond traditional payment processing by providing retailers with a comprehensive suite of retail-focused capabilities. These include advanced inventory management, customer relationship management (CRM) tools, loyalty programs, and robust analytics. Curv helps retailers understand customers, personalize marketing, and create great experiences to build loyalty and repeat business.
Seamless Integration
Curv POS’s integration with Payarc API assists retailers in seamlessly integrating their payment processing with other essential business systems. These systems include accounting software, e-commerce platforms, and inventory management systems. This integration streamlines workflows, eliminates manual data entry, reduces errors, and optimizes overall efficiency. This allows for tailoring of the payment processing experience to meet specific business requirements.
White-Glove Service
At Payarc, we believe in providing white-glove service to our retail partners. Our dedicated support team is available to provide personalized assistance and ensure a smooth experience with Curv. From onboarding and setup to ongoing technical support, we are committed to delivering exceptional service that exceeds your expectations.
In summary, Curv POS’s launch brings a new era of payment processing, giving retailers better abilities, easy integration, and personalized help. Curv POS is a new solution in the Payarc suite, supported by Payarc’s strong reputation as a trusted payment processor. With years of industry experience, Payarc has earned the trust of countless businesses across various industries.
To unlock the full potential of Curv and elevate your retail payment processing, contact us today. Our experts are here to help you, answer questions, and create a solution that fits your business needs. Experience the benefits of Curv and take your retail business to new heights.
The payments landscape has undergone transformative changes, accelerated by the impact of COVID-19. With a surge in online shopping, businesses are adapting to omnichannel payments strategies, navigating challenges and capitalizing on consumer behaviors shaped by the pandemic.
Key trends include the resurgence of in-store shopping, the exponential growth of online commerce, and the rise of mobile and social commerce, particularly on platforms like Facebook, Instagram, and TikTok. Live selling is emerging as a dynamic retail experience, creating opportunities for engagement and sales.
Understanding US consumer preferences is crucial, with expectations centered around seamless delivery, free shipping, and transparent tracking. Businesses that integrate these preferences seamlessly into their online presence tap into significant opportunities.
The adoption of an omnichannel payment strategy is presented as imperative for sustained relevance in the dynamic retail landscape. A payment processor like Payarc offers a reprieve to the adoption of this model, through emphasizing comprehensive solutions, seamless integration, and personalized support. This strategic alliance becomes pivotal for businesses looking to unlock untapped revenue potential and shield themselves from obsolescence.
Introduction
In a world perpetually shaped by change, the payments landscape has been relentless in its evolution. The gears shifted into overdrive in the past 5 years, fueled by the seismic impact of the COVID-19 pandemic.
Governments worldwide responded with protective measures, closing nonessential retail spaces and limiting capacities in essential establishments. The result? A surge in online shopping, with e-commerce escalating from US$382.5billion in 2019 to US$727billion in 2023. (Statista, 2024)
This disruption prompted retailers to reevaluate strategies. While some hesitated to part with traditional face-to-face engagement and their brick-and-mortar establishments, others seized the opportunity, embracing omnichannel strategies that continue to yield dividends post-lockdown.
Surveys indicate a profound impact on consumer behavior – over one-third of Americans have seamlessly incorporated omnichannel features into their shopping routines post-pandemic. The stakes are high, with 92% of consumers fluidly switching between digital and physical interactions within a single transaction – often researching purchases online while shopping in brick-and-mortar stores, underscoring the imperative for brands to adapt. (Team P., 2022)
The journey wasn’t without challenges. Almost 50% of brands foresee the unification of online and in-store operations and data as their primary hurdle in the coming years. (Drenik, G.. 2022) However, those who successfully navigate this path are poised for favorable results.
In the wake of the pandemic, in-store shopping, synonymous with the quintessential brick-and-mortar retail experience, has staged a remarkable comeback with a forecast of 72% of US retail sales occurring in these physical stores, reclaiming its role as a formidable player in the industry. (Reda, 2022)
This mode of shopping entails a customer physically visiting a retail establishment to scrutinize, choose, and acquire goods or services. What sets in-store shopping apart is the immersive experience it offers, where patrons invest an average of 54 minutes perusing a physical store —
significantly more than the 38 minutes typically spent on a single website.(ICSC, n.d.) This stark contrast underscores the enduring importance of prioritizing and enhancing in-store experiences, even amidst the pervasive influence of the digital realm.
Payments are no longer confined to the binary of cash or card; the question now extends to a myriad of options such as mobile wallets like PayPal, ApplePay and GooglePay, to bank transfers, Buy Now Pay Later options, credit and debit cards, propelled by the rise of omnichannel payments.
Online shopping, a facet of digital commerce, allows consumers to effortlessly acquire goods or services through the internet using web browsers or mobile apps. It relies on card-not-present (CNP) transactions, where buyers remotely provide payment details, enabling transactions without a physical card presentation. A digital receipt confirms the purchase, and the bought items are then delivered to the buyer’s doorstep or available for convenient pickup at a designated location.
In this digital era, over 263 million Americans, constituting 80% of the population, engage in online shopping. (Statista, 2023) The significance of this trend is further underscored by the considerable purchasing power wielded by millennials (29–43 years old), emphasizing the imperative for businesses to establish and fortify their online presence.
Catalyzed by events like Black Friday—Cyber Monday (BFCM) weekend, online shopping reached unprecedented heights, with Adobe Analytics reporting consumer spend to be at $9.8 billion on this day alone, this is 7.5% up from the year prior. (Delesline III, 2023) This surge is a testament to the widespread appeal of online shopping, where consumers capitalize on enticing deals and the seamless experience of purchasing products through various devices, be it mobile, apps, or computers.
This momentum in online commerce is not confined to individual platforms. According to Forbes, the analytics firm Comscore reported a remarkable figure for US e-commerce sales—$1.09 trillion in 2022, marking a robust growth rate of 10.6% from the previous year. (Koetsier, 2023) The accelerating surge in e-commerce not only highlights its dynamic trajectory but also signifies a profound shift in consumer behavior, reshaping the retail sector at its core.
Mobile shopping, the seamless transaction of goods and services through our smartphones and tablets, has become an integral aspect of modern digital commerce. This innovative approach empowers consumers to navigate online shopping platforms with unprecedented ease, liberating them from the constraints of desktop computers. A Morning Consult poll in December 2022 unveiled that over 60% of US adults recognize mobile shopping as an indispensable convenience in their online shopping endeavors. (Morning Consult, 2023)
Looking forward, the trajectory of mobile commerce is striking. It was predicted in 2023, that an estimated 187.5 million U.S. users will have completed at least one purchase via a web browser or mobile app on their mobile devices—a substantial increase from the 167.8 million mobile buyers recorded in 2020. This trend underscores a significant shift, with mobile buyers consistently constituting at least 60% of the U.S. population since the inception of the decade. (Chevalier, 2022)
In tandem with the rise of mobile shopping, digital payment methods have taken center stage. The prevalence of digital wallets, safeguarding credit, debit, and loyalty card details for online use, has surged. In 2022, mobile wallets commanded roughly half of global e-commerce payment transactions, solidifying their status as the premier online payment method worldwide. This dominance is poised to intensify, with projections indicating a rise to over 54% by 2026. In stark contrast, credit cards, which held a 20% market share in 2021, are anticipated to witness a decline in the years ahead, further accentuating the ascendancy of digital wallets in the digital payment landscape. (de Best, 2023)
Amidst the 2 hours and 24 minutes that an average person invests in social media, a notable shift towards social commerce has emerged. (Nyst, 2023) Social commerce, the practice of selling products and services directly on platforms like Facebook, Instagram, TikTok, and Live Selling, transforms the entire shopping journey—from initial product discovery to the final checkout,
seamlessly occurring within the social media realm. (McLachlan, 2022) In 2022, global sales through social media platforms surged to an estimated $992 billion. Projections for 2030 anticipate an extraordinary growth to $8.5 trillion, showcasing the immense potential for business expansion through social commerce. (Global Industry Analysts. 2024)
Enter the realm of live shopping, also dubbed as livestream shopping, live video shopping, or live commerce—a digital gateway where retailers can showcase their products through captivating videos and directly engage with online consumers. This innovative approach allows consumers to participate actively, posing questions and interacting through live chat channels, fostering a dynamic connection. Enthusiasts can even add products to their basket in real-time while engaging with their favorite influencers. (Emplifi, 2022)
The inclination toward live shopping is reinforced by the staggering statistic that 73% of consumers prefer watching videos over reading product information. (Mosby, 2024) While this trend has been more prominent in China, the United States boasts a thriving market with livestream sales reaching an impressive $31.7 billion. (Chevalier, 2024)
Notably, services like CommentSold demonstrate the immense potential by generating up to $300 per minute in a single live sale, illustrating the lucrative nature of this engaging retail experience. (Whitmarsh, 2022)
Live shopping isn’t confined to a single platform; it allows simultaneous streaming across various channels, including your online store, mobile app, Facebook Live, and Facebook Groups. This versatility ensures that retailers can reach their audience through multiple avenues, creating a seamless and immersive shopping experience for consumers.
In a resounding affirmation of the impact of social media on shopping, 87% of social sellers declared its effectiveness in 2023. (Liang, 2023) This trend underscores the significance of a robust online presence to tap into the combined 85% market share of Gen Z and Millennials. (Walk-Morris, 2023) As the dynamics of social shopping continue to evolve, businesses must stay attuned to these platforms to leverage their full potential.
As a company, you would want to cement your position in being top of mind for your consumers. Unlocking the full potential of online shopping requires businesses to align with the expectations of discerning US adults. According to Morning Consult, these shoppers deem certain attributes indispensable for a truly convenient experience:
Seamless Home Delivery: An overwhelming 81% expect the ease of ordering with the added convenience of home delivery.
Complimentary Shipping:76% prioritize the allure of free shipping, an offering that sweetens the deal for online transactions.
Product Availability: Ensuring products are consistently in stock resonates with 71% of users, offering assurance and reliability.
Transparent Package Tracking: A substantial 68% value the ability to track their packages in real-time, providing peace of mind and anticipation.
Swift Shipping: 66% appreciate the swiftness of fast shipping, ensuring their purchases reach them promptly.
Hassle-Free Returns: 63% seek the flexibility of free returns, adding a layer of convenience and risk mitigation.
Intuitive Website Tools: 62% find value in effective website filtering and search tools, streamlining the shopping process.
Mobile Shopping Convenience: 61% prioritize a seamless mobile shopping experience, recognizing the prevalence of on-the-go transactions.
Efficient Cart Management: 60% appreciate the ability to save products in their carts for a streamlined and organized shopping journey.
Accessible Discounts: 56% seek ease in finding discounts, enhancing the affordability and attractiveness of their purchases.
Cross-Site Price Comparisons: 54% value the capability to compare prices across different sites, ensuring they secure the best deal.
Convenient Mail-In Returns: 51% prefer the simplicity of mail-in returns, providing an additional layer of flexibility.
Product Comparison Features: 49% find value in tools that allow them to compare products across different sites, aiding in informed decision-making.
User-Friendly Checkout: 47% appreciate the ability to save checkout details in a user profile, expediting future transactions.
Extended Return Windows: 43% see the benefit of generous return windows, allowing them the flexibility to return items within a reasonable timeframe.
In recognizing these preferences, businesses not only tap into a substantial opportunity within the online shopping realm but also demonstrate an understanding of the nuanced requirements that define a truly convenient and customer-centric experience. By seamlessly integrating these attributes, businesses position themselves to thrive in the dynamic landscape of online retail. (Morning Consult, 2023)
Benefits of Omnichannel Payment Processing for Businesses:
In the dynamic landscape of retail, the adoption of an omnichannel payment strategy is imperative for sustained relevance. The heart of mastering omnichannel strategies resides in the embrace of an omnichannel payments ecosystem. This pivotal step not only unlocks untapped revenue potential but also acts as a shield against obsolescence in the face of a constantly evolving market. A strategic alliance with a payment processor adept at
facilitating seamless integration across all channels becomes not just a choice but a forward-thinking move.
Omnichannel: Access Anywhere, Anytime
Providing a consistent payment experience across in-store, online, and mobile channels is pivotal. Omnichannel payment processing, adaptable to various devices, ensures a smooth payment process, enhancing convenience and customer experience.
POS Products Connectivity and Synchronization
Beyond payment processing, seamless synchronization between POS products for onsite and online orders is critical. This synchronization allows real-time management of inventory, tracking of sales, and processing of orders, minimizing overselling risks and enhancing operational efficiency.
Retail Capabilities
A distinguished payment processor extends beyond conventional transactions, offering a comprehensive suite of retail-focused capabilities. This includes advanced inventory management, CRM tools, loyalty programs, and robust analytics. Understanding customers, personalizing marketing, and fostering loyalty become integral aspects of the retailer’s toolkit.
Seamless Integration
Efficiency begins with seamless integration. A proficient payment processor assists in seamlessly integrating payment processing with essential business systems, from accounting software to e-commerce platforms. These integrations streamline workflows, reduce errors, and optimize overall efficiency, tailoring the payment processing experience to specific business requirements.
In a world where everything is interconnected, understanding consumer behavior across diverse touchpoints is paramount. Retailers must leverage data to personalize the shopping experience, acknowledging that consumers research online before purchasing and traverse multiple touchpoints, from in-store to mobile, social, and live selling.
Collaborating with reputable payment processors like Payarc is crucial. The upcoming launch of Curv for retail signifies a commitment to empowering businesses with comprehensive solutions, seamless integration, and personalized support. While Curv is a recent addition, it inherits the solidity of Payarc’s reputation as a trusted payment processor.
To unlock the full potential of Curv and propel your retail business to new heights, contact us today. Our team of experts stands ready to guide you through the process, answer queries, and tailor solutions to your business needs. Experience the transformative benefits of Curv and position your business for sustained success.
Independent sales agents have a multitude of choices for payment processing partners in the merchant services industry. At PAYARC, we strive to differentiate ourselves from the competition and provide a partnership solution focused on a commitment to service excellence. Our mission to deliver a comprehensive range of offerings and unparalleled benefits comes second only to our core value of best-in-class customer service. PAYARC’s dedicated agent support team works exclusively for our agent partners to create a high-touch service experience. Discover why independent sales agents choose PAYARC for merchant services.
At PAYARC, we value the hard work of our agents. That’s why we offer better commission splits without requiring a minimum monthly deal amount. Our independent sales partners can earn up to 90% revenue shares, plus additional activation and signing bonuses of up to $7,500. For a limited time, agents can also take advantage of the CURV POS free terminal placement program.
Omnichannel Solutions
PAYARC allows agents to provide merchants with a unified payment experience by combining online, in-store, and mobile payment channels. Merchants can connect and access their business from any terminal or smartphone, and process payments through our proprietary apps and gateways. This level of flexibility empowers agents to cater to the evolving needs of their clients and enhance their overall business offerings. Our in-house development team creates the integrated features of a true omnichannel environment while our design team ensures the most user-friendly experience.
POS Products
PAYARC’s robust lineup of physical point-of-sales products empowers independent sales agents to meet the diverse requirements of their merchants. Our product lineup includes countertop devices, card readers, terminals, mobile apps, printers, and more from partners such as AMP and PAX to SwipeSimple and Clover. Whatever need a merchant requires for their payment processing, our agent partners are able to provide from our offerings. Plus, agents can place the CURV POS with any merchant at no upfront cost!
Simplifying business operations and enhancing efficiency, PAYARC offers seamless integration capabilities. PAYARC helps agents connect their merchant services with accounting software, inventory management, and customer relationship management (CRM) platforms. This makes it easier for agents to integrate these important business systems into their operations. This integration streamlines workflows, minimizes manual tasks, and optimizes overall efficiency, allowing agents to focus on growing their business.
Wholesale Processor
PAYARC agents benefit from our direct wholesale relationship with bank sponsorships that cover a wide range of verticals. We take care of our own underwriting and risk management so you can focus on building your business. In contrast to large-scale processors, you and your merchants are our top priority. Enjoy competitive bonuses without a required monthly minimum.
White Glove Support and One Call Resolution
We understand the importance of timely support. With PAYARC, you can count on having someone on the other end of the line within 15 seconds, 24/7. Our white-glove support ensures that you receive personalized assistance and achieve one-call resolutions. We commit to providing you with exceptional support whenever you need it. Furthermore, our personalized application process allows for approvals within 24 hours.
Dual Pricing Program
Our omnichannel CURV POS system now allows merchants to pass on acceptance costs to customers – removing up to 100% of processing fees. It aligns with our agents’ Schedule A and has no extra transaction fees. This makes our compliant Dual Pricing Program one of the best in the industry. Partners can either offer it to customers without obligation or impacting buy rates, or revenue share for extra flexibility.
Free Terminal Program
The CURV free terminal program allows merchants to pay a monthly subscription instead of upfront costs for the terminal. This flexible approach makes it easier for businesses to adopt advanced payment solutions without any financial burden. It’s a win-win situation for both you and your merchants. Now, merchants can start accepting payments in as little as 24 hours without any fees upfront.
Sales agents choose PAYARC for merchant services because it offers a wide range of services.
PAYARC provides the tools and support you need to thrive in the industry. With omnichannel solutions, versatile POS products, seamless integration, better commission splits, white-glove support, upfront bonuses, and a free terminal program.
To learn more about how PAYARC can elevate your merchant services and empower your success, contact us today.
E-commerce credit card processing has opened up a new market sector as online retail sales are expected to total $6.3 trillion this year. Merchants within this growth are seeing benefits, but successfully running an online business requires smart decision-making.
One of those decisions is choosing how to accept credit cards online. Accepting credit cards online successfully is an important aspect of building a robust online business and keeping up with the latest payment trends. Now, there are more options for accepting credit cards online than ever before. Researching for the right payment processor will help you choose one that’s right for you.
Understanding e-commerce credit card processing
Get mobile
As smartphones become smarter and more universal, more customers will shop — and buy — online. 76% of U.S. adults say they shop online using a smartphone, while 69% say they make purchases via computers.
Accordingly, it’s important for an online merchant’s payment gateway to function on a customer’s mobile phone. The right payment gateway will ensure that you’re able to capture sales from mobile while keeping your customers’ information secure. With the right payment processor, any mobile browser or mobile app can become a secure credit card portal.
When a payment gateway is optimized for mobile, it allows customers to make credit card payments using their devices securely. This makes it convenient for customers to purchase from anywhere, at any time, increasing the chances of getting those sales.
Getting mobile is important for e-commerce credit card processing because it allows merchants to offer a convenient payment experience to customers. This increases the likelihood of successful transactions and customer satisfaction.
Preventing e-commerce fraud
It’s essential to protect your customers’ personal and financial information, maintain their trust in your business, and avoid costly chargebacks and losses. Here are some tips to help you prevent e-commerce fraud:
Use a fraud prevention tool: Consider using a fraud prevention tool, such as a fraud detection system or a payment gateway with built-in fraud protection. These tools can analyze transactions and detect fraudulent activity.
Verify customer information:Collect and verify your customer’s information, such as their name, address, and contact information. You can use address verification services to ensure that the billing and shipping addresses match and ask for additional identification.
Implement strong password policies: Require your customers to create strong passwords and encourage them to change their passwords regularly. You can also implement two-factor authentication to add an extra layer of security.
Monitor transactions: Keep a close eye on your transactions and look for any unusual patterns or activities.
Educate your customers: Give helpful tips on how customers can protect themselves from fraud. For example, they should check their credit card statements regularly and report any suspicious activity.
Train your employees: Teach your employees how to verify customer information, detect suspicious transactions, and handle chargebacks and disputes.
New kinds of processors
There is an increasing number of simplified payment processors available that don’t require a merchant service account or payment gateway. With these processors, the customer enters their card number, and the payment is processed — that’s all. This streamlined process means there are fewer fees for merchants and more competitive rates.
Simplified payment processors integrate with your checkout pages, making it so your customers never have to leave your website. This is essential for a seamless and reassuring checkout experience in e-commerce credit card processing. They’re easy to set up and can help you get up and running and accepting payments quickly. Many simplified processors don’t offer the same level of support as traditional processors, as they’re simple enough to not need it.
Learn about cryptocurrencies
Another hot topic these days is bitcoin, a digital currency that can be sent from one user to another anywhere in the world. Unlike the U.S. dollar, cryptocurrencies are not backed by any physical tokens. Bitcoin is gaining popularity and is accepted by over 100,000 merchants worldwide.
There are a few unique advantages to accepting bitcoin through your payment processor:
Transaction fees are much lower than credit cards
Payments process very quickly because there’s no bank acting as a middleman
There’s less security risk because no customer information is attached to bitcoin payments (meaning there’s no risk of chargeback fraud, as there is with traditional credit card payments)
There are also some unique risks associated with accepting bitcoin:
It’s an unstable currency, and its value fluctuates wildly from day to day. Some economists believe bitcoin’s value is largely due to speculation, and its value has dropped significantly since its rise.
Many payment processors allow merchants to accept bitcoin as a payment option with just a simple plug-in. If a bitcoin holder doesn’t want to hang onto it, it’s simple to convert it back to their currency of choice.
How can PAYARC help?
There are plenty of new payment options to choose from, but one thing hasn’t changed: the importance of asking questions. Be sure to inquire about fees, customer service, and security. The new digital world of credit card payments is here to stay, so choosing a processor that gives you the options your business needs is a must.
Reach out to us to start your ecommerce credit card processing journey today!
