The New Normal in Payments
Cash is no longer the king in the new payment world
As payments become a commodity, PSPs and banks need to reach deeper and wider into the customer relationship to generate recurring revenue and to create a lasting, more sticky relationship. This can either be done by offering additional services around admin, logistics, ticketing, loyalty in the PSP’s services platform or by integrating third party solutions that are particular to your merchant’s needs through APIs.
Of equal importance is deep data analytics. Merchants’ customers leave a trail of habits, likes and dislikes as they window shop and purchase online. Bearing the right consent levels for the use of this data in mind, valuable insights can be gained for targeted and highly personalized campaigns.
Acquirers and PSPs are well positioned to offer their merchant customers additional services that reach into the business domain of eCommerce players such as KYC and onboarding.
Radar Payments either integrates into your KYC solution and CMS of choice to seamlessly integrate this with the transactions environment or you deploy the functionality offered by the platform.
The KYC solution will be tailored around your merchant customers’ offering and compliance requirements.This way your merchants can onboard new customers acquiring both personal details and consent for future relevant offerings.
Loyalty schemes are embraced around the world but with huge differences, determined by culture and behavior. Loyalty types range from bonus and point schemes to discounts and mixed packages. Accrual of loyalty driven data points depend on transaction types, time of day, channel, event and more and the redemption is often driven by convenience at the POS. The Radar Payments scheme offers a range of possibilities, where needed linked to navigation software and POS data points, offering instant redemption at the point and moment of purchase.
Segmentation of the database and campaign management are part of the offering.
Receiving payments is critical to a merchant, correct billing and invoicing is equally important, including consolidation with accounting packages. Merchant customers need correct bills as a confirmation of the transaction and for future reference. Merchants can opt for gross or net invoices and aggregate them by credit/debit, brand, terminal or payment type or any other identifier.
The merchant portal display will list your customers’ invoices and payment status and details for a perfect overview of their e-commerce activities.
Radar Payments offers a white label shopping cart that will suit all of your merchants needs. Its wealth of built-in functionalities offers multiple checkout experiences. The level of sophistication includes order and payment terms such as pre-order, re-order, buy now and pay later, buy now and pay partially, get a refund on previous orders and more.
Unlike standard shopping carts, Radar Payments enables integrated government services with automated tax and fiscal systems making it easy to bridge payment to commerce to government regulation. We enable your merchants to focus on their business, all payment and related services are in control.
Responding to the rise of e-commerce, consumer demand for instant fulfillment and the increasing complexity of the supply chain, Radar Payments has designed a Marketplace which can be white-labelled to create new commerce experience. The 3-sided platform can be used to efficiently sell to end customers or buy from suppliers while handling the supply chain processes. It bridges the gap between the digital and physical worlds through e-commerce best practices and data-powered technology to deliver successful business to-business-to-consumer (B2B2C) trade.
The marketplace has been adopted by multiple organisations and multiple verticals ranging from both online commerce or conglomerates, extending their ecosystem with new products and services and new partners resulting in more buyers. Unlike traditional e-commerce marketplaces, Radar Payments goes one step further in pushing the boundaries of banking and payments. The marketplace brings together financial partners to offer working capital and alternative lending solutions for suppliers and sellers, fulfilling peak time needs and fostering merchants' growth.
Mass transit plays a significant role in any functioning economy. It represents a vital industry requiring seamless ticketing efficiency connecting the various eco system players. Increasingly these transport providers are looking to link their services to other (public) services. PSPs and banks can play a vital role in providing/linking those payment services. The transport and ticketing services extend beyond public transport into museums entrance, taxis, parking, event attendance and other public services.
Radar Payments offers an automated fare collection platform designed with both residents and operators in mind. The platform utilises innovative technology such as EMV open loop systems to deliver a seamless and frictionless payment experience. The platform supports micro payments across multiple merchants into a single account, making it therefore a valuable extension for public merchant clients, or any party involved in transportation or event management.
From commerce to payments across the city, we have great stories to share. As of July 2020, we have processed 1 billion public transport transactions on our systems generating new revenues for a bank. We have created a marketplace which onboarded over 100,000 members in 6 months.
Want to know more? We are just one call away. Schedule a session with one of our team members.
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