Integration and Customer Support Emerge as Crucial Factors in Merchant Preferences for Payment Solutions
A recent survey conducted by FreedomPay, a global leader in Next Level Commerce™ solutions, in collaboration with Toast, a leading cloud-based restaurant management software company, has unveiled crucial insights into the top priorities for enterprise hospitality leaders. The findings emphasize the importance of data security, system integration, and growth enablement in shaping merchant preferences and trust in payment solutions and point-of-sale (POS) providers.
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Key Insights from the Survey:
- 53% of merchants face challenges in deciding where to allocate their technology budgets, highlighting the demand for integrated solutions that offer comprehensive value and support informed decision-making.
- The biggest factors that contribute to trust in a payment solution/point of sale (POS) provider are the quality of customer support (49%), user-friendliness (46%), reliability (44%), and integration capabilities (44%).
- Almost all merchants believe data security (100%) and data privacy (98%) are highly important when selecting a payment solution, while most believe growth enablement (82%) and speed (81%) are highly important.
- Organizations are already implementing a high level of integration between their payment/POS systems and other software systems. Most merchants say they have either fully integrated (15%) or have a very high level (70%) of integration between these systems. Almost all merchants (98%) place strong value on an integrated payment solution
“The survey with Toast highlights that integration, understanding customer behavior, and ensuring security are paramount for merchants,” said Nate Ware, SVP Sales & Digital Development at FreedomPay. “This also shows that most merchants are striving for a fully integrated ecosystem to drive growth and enhance operational efficiency. At FreedomPay, we are committed to providing the integration and security that merchants need to thrive and succeed.”
Understanding customer behavior, including shopping and purchasing patterns, is key to enhancing the customer experience and driving sales. Additionally, merchants are prioritizing security and minimal system downtime to safeguard operations and ensure business continuity. The availability of responsive and reliable customer support significantly contributes to fostering a sense of security and trust among merchants.
“The survey really underscores merchants’ need for seamless integration and a thorough understanding of customer behavior to fully enhance operational efficiency,” remarked Kelly Esten, GM of Enterprise at Toast. “For merchants, prioritizing robust data security and reliable customer support is crucial for fostering trust with customers.”
These insights highlight that seamless integration, robust data security, and reliable customer support are essential for merchants aiming to enhance operational efficiency, foster trust with customers, and drive sustained business growth in today’s competitive landscape. These factors form the cornerstone of strategic decision-making for enterprise hospitality leaders as they align their technology investments with long-term success and customer satisfaction.
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