In today's digital age, its critical for businesses to provide seamless experiences to their customers. To do so, they often adopt one of two strategies: omnichannel or unified commerce. Although sometimes these terms are used interchangeably, they denote two distinct strategies for those looking to add or expand their payments offerings. So what distinguishes them, and which one might be right for your business?
What is unified commerce?
Omnichannel payment solutions provide a consistent customer experience across multiple channels—website, mobile, in store, etc. Customers can browse on one platform, purchase on another, and collect their orders from a physical store. This offers a connected experience that still allows each channel to operate independently, providing a consistent look and feel that can help define your brand.
Unified commerce goes a step further by not just connecting but fully integrating all channels and payment solutions needed to power omnichannel experiences together on a single platform. All data and processes across channels are fully synchronized in real time and back-end operations are integrated to provide a seamless front-end customer experience.
Benefits for merchants and consumers
Unified commerce can offer several advantages over an omnichannel approach.
For merchants, it can:
- Improve operational efficiency by using integrated processes and real-time data.
- Enable a more complete view of customer buying behavior with integrated data from all channels.
- Increase sales by offering a seamless shopping experience.
- Reduce complexity by utilizing a single, integrated system.
For consumers, it can provide:
- A unified shopping experience across all channels.
- Personalized, customized interactions based on integrated data.
- Real-time information about inventory, order status, and more.
- Flexibility to switch between channels at their convenience.
Industry success stories
Merchants in different industries are reaping the benefits of unified commerce, particularly those that interact with customers across multiple channels. A few examples include:
- Travel and tourism companies can integrate booking, customer service, and other customer-facing platforms.
- Retailers can offer a seamless shopping experience across physical stores, websites, and mobile apps.
- Hospitality merchants can integrate booking, point-of-sale, and customer service.
- Telecommunications companies can integrate physical stores, online platforms, and customer service.
Let’s get unified
As you continue on your digital payments journey, embracing unified commerce is a powerful way to enhance customer experience and improve efficiency. By integrating all your channels and payment solutions together on a single platform, you can help provide a seamless, consistent experience for customers, no matter how or where they choose to interact with your brand.
Disclaimer: These materials, best practice and recommendations are provided for informational purposes only and should not be relied upon for marketing, legal, regulatory or other advice. You should independently evaluate all content, materials, and recommendations in light of your specific organizational needs, operations, and policies, as well as any applicable laws and regulations. Cybersource is not responsible for your use of these materials, including errors of any kind, or any assumptions or conclusions you might draw from their use.
This content includes references to offerings from Cybersource and Authorize.net, which are part of the Visa Acceptance Solutions family of brands.