Businesses that have embraced the payment facilitator model often do so because they recognize the need to simplify the complex business of payments for their merchant clients.
They understand how important it has become to integrate payments into a merchant’s offerings in a flexible way that helps them serve their customers. A natural extension of that is the omnichannel approach – enabling the merchant to seamlessly connect with customers through both digital and in-person touchpoints.
Munich-based payments processor Wirecard, which is also a payment facilitator, announced this week that it is providing an omnichannel payments platform for direct seller Amway in Brunei, Malaysia and Singapore.
The platform will allow Amway to use a single interface whether the transactions originate in-store or online, allowing its customers to interact with the business in the ways they prefer.
“We are delighted that we’ve partnered with Amway Business Services Asia Pacific Sdn. Bhd. to deliver shared services to Amway’s business across the region to customers in Brunei, Malaysia and Singapore. Our collaboration allows Amway to leverage on Wirecard’s infrastructure and capability and move beyond the conventional payment modes to offer transaction payment solutions to Amway’s customers,” Jeffry Ho, Regional Managing Director at Wirecard, said in a press release.
In a post on the company’s blog, Ho cites the appeal of electronic payments amid Singapore’s tech-savvy consumers as creating opportunity for payments companies. The city is already embracing the omnichannel environment, he said.
“Increasingly, customers are using mobile devices to browse and research products online and to make purchases either in-store or directly on their phone. The growth of omni channel reflects Singapore’s overall mobile readiness,” he said.
Malaysia, on the other hand, remains more reliant on cash but consumers spend a lot of time online and on their mobile phones, Ho said in a separate post. Payment providers have the potential to help merchants capitalize on that interest with the right solutions geared toward that market.
“In fact, the Malaysian payments sector contains enormous possibilities, thanks to consumer uptake of online shopping and widespread smartphone usage. To ensure these opportunities become reality, however, local retailers also have to get on board with the shift to digital payments,” Ho said.
Wirecard is continuing to rapidly expand in the APAC region. Earlier this year, it announced its plans to purchase Citi’s APAC merchant acquiring portfolio.
And this month, the company announced an agreement to handle ticket bookings for India’s Vistara airline. The deal will cover bookings originating from nine countries.