Fincra Checkout allows retailers to collect payments while selling online seamlessly. The Checkout flow also comes via Fincra Payment Link, which can enable retailers to sell online without a website to host the payment page.
With Fincra Payment Link, businesses can sell through different channels online like emails, social media and messaging platforms.
This feature allows retail businesses to meet customers, sell to them and complete transactions anywhere on the internet.
One of the key benefits of e-commerce payment processing solutions for retailers is the ability to accept payments from customers worldwide.
Fincra’s Virtual Account allows businesses to transact in different currencies enabling them to expand their customer base beyond their local market and reach a global audience.
Fincra POS Terminal is also beneficial for retail businesses that sell online for payment after delivery. With this terminal, your dispatch, agent or salesperson can quickly complete in-person transactions by allowing customers to pay with their cards or bank transfer.
In addition to all these benefits, Fincra also helps retailers with protection and dispute resolution services, which can help them reduce the risk of fraudulent transactions or chargebacks.
For customers, e-commerce offers a convenient and secure way to shop online. To foster loyalty with these customers, retailers must optimise the payment process to boost their experience. Doing this can help retailers to retain customers and drive growth sales.
3. Subscription payments
Subscription payment models allow customers to make recurring payments automatically to continuously access a product or service.
This payment model is becoming popular among retailers because it gives a certain level of guarantee to sales and revenue and increases customer loyalty. With recurring payments, retailers can predict their revenue streams and plan accordingly.
The subscription model of payment removes the decision-making for customers on an ongoing basis, which means that they get to pay for a product or service before they have time for a rethink. However, retailers must always keep their promise of exceptional products and services.
For customers, convenience is their goal, and subscription payments ensure they don’t have to input card details or payment information before completing a transaction.
4. Cryptocurrency payments
Cryptocurrency has gained popularity in Africa, although not for payments. Trading and investments are the most popular use cases for cryptocurrency in Africa, but retail businesses can still position themselves for when a shift happens.
There have been ongoing efforts to increase the use of cryptocurrencies for payments in Africa. The likes of Quidax, Bitpesa, Bundle Africa, etc, are working on developing payment systems that use cryptocurrencies in Africa.
5. Contactless and biometric payments
Although contactless and biometric payments have surged in developed economies worldwide, Africa has yet to see much adoption of these types of payments.
Contactless payment is the method that allows customers to make purchases by waving or tapping their payment card or mobile device over a terminal. Biometric payment technologies use unique biological characteristics, such as fingerprints or facial recognition, to authenticate a customer’s identity and authorise payment.
These technologies are becoming increasingly popular as consumers demand faster and more secure payment options.
These payments are the next frontier in Nigeria, where the recent Naira notes scarcity and the subsequent collapse of bank infrastructure frustrated payment processing for retailers.
Retailers must partner with a trusted payment technology partner like Fincra that can help them implement the latest technology in payment processing.
Sometimes, tiny details determine whether a business survives or stays competitive at these times. Keeping with trends is among one of those little details.
For payments, retailers must keep up with these five trends to stay competitive and drive sales growth. These payment forms can help retailers increase customer experience and boost loyalty.
Doing it alone is hard, so retailers need the best partners. Fincra is a payment partner that can help retail businesses to implement the latest technology to optimise payment.
Leave payment to us and focus on other aspects of business growth.
Create a free account with Fincra today, or speak to one of our reps to get started with us.