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In today’s digital world, the benefits of payment solutions are beyond convenience and financial operations. They foster growth and collaboration in small businesses and play a crucial role in strengthening their merchant account network.
They provide customer insights and analytics for small businesses to make informed decisions and boost their marketing strategies. In this blog, we will learn how the payment solutions of NTT DATA Payment Services, Asia’s leading digital payment service provider, help reinforce merchant networks in small businesses.
From connecting businesses to driving growth, let’s start with how payment solutions transform small business merchants!
How Do Payment Solutions Help Merchant Networks In Small Businesses?
Payment solutions help small businesses access a vast customer base, attract new customers through partnerships and establish themselves as credible and reliable merchants within their specific industry.
Before diving into the payment solutions of NTT DATA Payment Services, let’s see the process of payment solutions’ role in helping the merchant network in small businesses.
Increased accessibility
Businesses can attract and expand their customer base by catering to the usage of different payment options, such as credit cards, debit cards, mobile payments, and online transfers. It increases sales potential and builds a vast network of satisfied customers.
It is convenient for customers to make purchases since they can use their preferred payment method. It accounts for customer satisfaction and repeats business. It also reaches a vast audience who prefer cashless transactions or online shopping.
Seamless integration
For seamless operations and data management, payment solutions integrate with merchant services and platforms, like inventory management systems, customer relationship management (CRM) software, and e-commerce platforms.
It helps small businesses to track sales, manage inventory and evaluate customer behaviour effectively. It can help them optimise their operations and make informed decisions to grow their business.
Read: How Should a Digital Bank in Europe Design the UX of Its App?
Customer loyalty and retention
Smooth payment solutions make customers return to the business and purchase repeatedly, fostering loyalty and supporting merchant networks. When discounts and rewards are provided to the customers, it retains them from opting for some other business.
Hence customer loyalty programs, creating personalised offers, and sending targeting promotions build loyalty and long-term customer relationships. The other benefits include customer referrals and expanding networks through positive word-of-mouth.
Analytics and insights
Payment solutions help merchants of small businesses to take a sneak peek into customer behaviour, sales trends, and transaction data with its exclusive feature of reporting and analysing. It helps the merchants understand their customer base, identify growth opportunities, utilise them to make data-driven decisions and grow their business.
The evaluation of transaction patterns by the payment solutions makes the merchants perceive their profitable customers and their buying preferences and customise their marketing strategies to attract similar customers.
Collaborative partnerships
Customers who find payment solutions accessible and convenient have a positive experience with the business. It fosters customer satisfaction and creates loyalty. Also, customers pleased with the business tend to recommend it to their friends and family, thus paving the way for business growth.
Benefits Of Payment Solutions Of NTT DATA Payment Services For Small Businesses
Here’re the benefits of innovative payment solutions of NTT DATA Payment Services in strengthening merchant networks in small businesses.
How Does A Pos Machine Help Small Enterprises?
The NTT DATA Payment Services POS Machine is a one-stop solution for small businesses to grow because it offers a swift automatic settlement process and an extensive dashboard to monitor real-time payments.
It perfectly integrates with your billing system and delivers an experience with unmatched efficiency. The types of POS Machine available at NTT DATA Payment Services are
- PSTN POS
- GPRS POS
- Wi-Fi POS
- Android POS
- mPOS
The NTT DATA Payment Services POS Machine is backed with PCI DSS v 3.2 compliance and 256-bit encryption, making it a safe and secure transaction option to collect customer payments through credit and debit cards.
According to your enterprise size, the POS Machine can be customised, whether retail, restaurant, education, entertainment, home delivery, bill collection, hospital and healthcare or travel and hospitality.
How Does The Mgalla App Help Small Businesses?
Here comes a free payment app for small business owners, mGalla. Through this app, you can receive payment anytime, anywhere, with the help of your mobile. There are no additional costs; the app requires a one-time installation and signup.
You are ready to proceed with receiving transactions. It includes all payment options, such as UPI, Payment Links, Bharat QR, and mPOS. It is the best app for small business merchants since it is
- Simple to activate
- Requires minimal documentation
- Convenient for the customers
- Easy to track and manage payments (even cash through mGalla’s cash option).
How to get started with mGalla? All you have to do is
- Install the app
- Enter personal details
- Enter bank details
- Scan a copy of your Pan Card or Aadhaar Card
- Verify with an OTP
How Do Ivr Payment Services Help Small Businesses?
IVR/ Interactive Voice Response payment services make giving debit and credit card details accessible with Dual Tone Multi-Frequency (DTMF). When payment gateways do not store the card details, you should enter them with DTMF during transaction processing.
IVR processes an outbound call to the registered mobile number and confirms the purchase; you only have to enter the PIN.
It helps the merchants of small businesses by increasing payment options and payment efficiency, reducing costs, ensuring payment security, enabling scalability and integration, and levelling customer satisfaction and convenience.
Features of NTT DATA Payment Gateways
Here’re the astonishing benefits of the NTT DATA Payment Gateways:
- 100+ multiple payment options, including 10+ credit cards, 50+ net banking, 100+ debit cards, 10+ wallets, IMPS, UPI, Bharat QR Scan and Pay, BNPL, NEFT/RTGS, and more.
- Easy retry option without the need to fill in all the details from scratch for failed transactions.
- Riase bulk invoices and share payment requests for customers with pending payments.
- Multi-bank EMI option available for over 10+ credit cards.
- Provides hassle-free online payment gateway integrations
- You can monitor your transactions online and customise the design and layout whenever needed!
Choose NTT DATA Payment Services For A Seamless Transaction!
NTT DATA Payment Services is Asia’s top provider of digital payment services, serving numerous industrial and banking areas worldwide. It offers consumers 360-degree payment solutions and over 100 payment methods.
It is a one-stop payment solution for businesses, paving the way for a smooth and hassle-free transaction experience. NTT DATA Payment Services, built with a bulletproof security system, has served over 6 million merchants.
What are the benefits of choosing NTT DATA Payment Services?
- It has a high success rate and provides continuous cash flow.
- It allows for rapid settlement and offers a variety of payment choices.
- NTT DATA payment solutions enable everything from brokerage and cryptocurrency to government and hospitality.
- Its advanced encryption mechanism ensures consumers the safest and most secure transaction experience.
- Its customer support services are available 24 hours a day, seven days a week, to assist consumers with various issues.
Conclusion
By providing increased accessibility to various payment options, small businesses can attract and retain loyal customers and expand their customer base. Enhancing customer satisfaction and loyalty builds trust and strengthens the merchant network.
NTT DATA Payment Services payment solutions provide the merchants of small businesses with operational benefits, improve payment efficiency, streamline processes and reduce manual intervention.