Payments are a major part of retail - and they’re constantly changing. Payment acceptance devices need replacement, software requires upgrades and keeping up with fluctuations throughout the industry can be a challenging task. Frequently, for merchants, there are many questions to be answered when it comes to payments and hiring a dedicated payments expert to answer them can be a significant financial undertaking.
What many may not realize is that their solution provider may be well-equipped to fill this role. Merchants can work with their solution provider’s in-house industry experts or professional services team to get answers to questions they have, solutions to pain points they experience and get assistance tailored to their specific business goals. Here are some of the big questions that a professional services team can help answer:
How can I figure out my transaction portfolio?
When going through the payment technology implementation and certification process, merchants often need a strong understanding of their transaction portfolio. This refers to the number of functions your system may go through, determined by factors like how many users there may be, how many different tasks it’s being used for and which activities are performed at what times. Professional services can assess the technical architecture and determine the transaction set merchants will have to go through for testing and certification. Identifying and analyzing the transaction portfolio can help reduce the cost while working with an expert can assist you to better understand the load on your systems.
Where should I start when it comes to accepting new payment technology methods?
Payment technology is evolving, and savvy merchants are looking to staying ahead of the curve. Given that contactless payment adoption is expected to triple worldwide by 2024, this is one payment method that many merchants are considering for their stores. Transitioning to accept NFC/contactless methods takes careful consideration of available solutions, implementation requirements, certifications, maintenance and more. A professional services consultant will bring technical know-how and industry savvy to the table to help merchants get a full scope of new technology and the requirements it takes to implement in-store.
How can I evaluate my systems to minimize risk from a security perspective?
When it comes to payments, security is always top-of-mind, but deciding the best way to provide security throughout a payment system can be complex. When it comes to a full solution, your professional services consultant can assess the need for a PCI-validated security solution and recommend a best fit. For merchants that already have a validated solution, professional services can also help with questions about compliance and security requirements and help prepare for working with a Qualified Security Assessor. This service includes customizing, integrating, certifying and deploying the solution, as well as providing ongoing support throughout its lifecycle.
There’s a lot to understand and keep track of when putting together a successful payments strategy. Professional services can offer a wealth of knowledge and be heavily involved in the implementation process so customers can be sure that - from start to finish - their systems get to where they need to be. This includes ongoing support, a single point of contact and solutions tailored to your needs.
If you’d like to know more about what professional services can do for your business, drop us a line!
Rob Harrison is Head of B&A Solutions & Support at Ingenico Group, North America