OmnyPay launches contextual commerce platform

OmnyPay’s platform streamlines the redemption of loyalty, rewards, offers, and payments, while tying all aspects of a shopper’s journey to the final rich checkout, which can be executed with a single scan from the shopper’s mobile device.

Some US retailers are integrating OmnyPay’s white-label platform, including a recently announced launch that enables millions of active users to pay for their in-store purchases directly from their mobile device using the retailer’s app, while seamlessly applying their offers and rewards.

In recent years, consumer behavior has changed, with more than 90% using their smartphones while shopping in-store. Many shoppers use apps from Google and Amazon for search, recommendations, reviews and price comparison – all while standing in the aisle of a physical retailer. OmnyPay’s expanded SaaS platform addresses this behavior directly, enabling multiple utilities in a retailer’s own branded app to make it more engaging and useful to consumers while they shop in-store.

A retailer app powered by OmnyPay enables retailers to augment the physical store shopper experience with the personalisation, flexibility and power of digital commerce. It engages shoppers by delivering a contextual shopping experience with personalised pricing, offers, rewards, and recommendations. Shoppers can select from a wide variety of products available in-store, online or directly from brands, and then complete the purchase through a frictionless checkout at point-of-sale (POS), or even through a digital self-checkout. All the while, the shopper can redeem loyalty, rewards, offers and payments associated with the purchase with one scan.

The platform enables retailers to incentivise shoppers during checkout to use retailer-preferred payment options like store-branded cards, co-branded cards, debit cards, or soon, real-time ACH. By driving more traffic to these payment options, retailers reduce transaction fees, create frictionless checkout, enhance customer loyalty, and increase card revenue share.

The OmnyPay platform sets up a real-time connection between the shopper’s mobile device, the retailer back end and the retailer in-store POS system. This allows the retailer to correctly identify the shopper before the act of payment, as well as to automatically and digitally combine any offers, coupons and promotions available to the shopper into the checkout process, streamlining the flow. The entire transaction takes place in the cloud: the shopper only needs a POS identifier to initiate the checkout, which can be enabled using a simple QR code.

Once a user is multi-factor authenticated by OmnyPay’s platform, any surface can become a point of commerce. This enables retailers to offer in-aisle self checkout service to their customers, which in turn prevents unnecessary waiting in POS lines. As stores are reconfigured away from massive checkout areas, shoppers and retailers benefit by reduced wait times, less cart abandonment, and increased customer satisfaction.

With the increased use of retailer-branded apps powered by OmnyPay’s platform, retailers gain access to a broad set of data pertaining to customer shopping behavior and marketing program success, all of which can be used to strengthen customer loyalty. All of this data, as well as user credentials and personal identifiable information, is secured with the OmnyPay platform, and is handled through a PCI-compliant secured system.

By moving the entire data stream to the cloud and ensuring there is no exchange of unprotected identity data within the physical store environment, mobile device or on public data networks, the OmnyPay platform provides security and reliability available to retailers’ systems. The platform can be integrated with vendors to deliver loyalty, payments and coupons, as well as location based services (LBS), CRM and social messaging features. Its API makes new features simply a plug-and-play add-on.