For instance, a merchant would typically expect one contract that covers all selected features of a payment strategy – POS terminal rent, online payment gateway, cards acceptance, acquisition, reporting and value-added solutions. They would also expect minimal effort in managing those contracts, a single touchpoint for account management, high resolution rates.
With foundations such as these in place, omni channel banking can thrive simply because it is able to provide consistent experiences for customers. Yet becoming truly omni channel will require organisations to integrate products, services, data models and data sources, remodel internal processes and educate their staff. This is a huge investment but doing so is critical if payment providers are to remain competitive in a tight market.
