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Leaders In Payments
Leaders In Payments
Special Series: The Omnicommerce Revolution with Yael Barack & Shae Orrick, Worldpay | Episode 332
Unlock the secrets of seamless Omnicommerce as we dive into Worldpay's Commerce360 product set with Shae Orrick, Senior Product Manager, and Yael Barak, VP of Product Management. Discover how small businesses can thrive by integrating payment acceptance across multiple channels into one robust merchant portal. Developed in partnership with GoDaddy, Commerce360 not only simplifies payments but also comes packed with marketing services and social media connections. Learn how the three concepts—Connect, Run, and Grow—are tailored to help businesses set up payments, streamline operations, and expand their customer base effortlessly.
Ever wondered how friction impacts your business? Friction can turn customers away and complicate your business operations, but Commerce360 tackles this head-on. Yael and Shea shed light on how their solution bridges the gap between online and in-store experiences, smoothing out payment processes and making interactions easier for both consumers and merchants. Imagine consolidating multiple systems into one user-friendly portal, much like having a smartphone for all your business needs. Plus, the sleek design of the Commerce360 terminal adds a touch of modern flair and credibility. Tune in to see how this innovative tool can transform your business operations and elevate your customer engagement.
Thank you or mobile, you'll find WorldPay at the heart of great commerce experiences globally. In this five-part series, we'll dive deep into seamless commerce experiences across all customer journeys, including from the consumer and merchant perspectives. We'll also look at solutions in the market today and where Omnicommerce is heading in the future.
Greg Myers:Hello and welcome everyone to this, the fourth episode in our series, in collaboration with WorldPay, about Omnicommerce. Today, we're going to be talking about the Commerce 360 product set that WorldPay offers to help small businesses with their Omnicommerce needs. In the last episode, we discussed some of the pain points merchants have when it comes to Omnicommerce, as well as a high-level overview of the product, so I suggest you go back and take a quick listen to that episode as well. It was episode 330. Joining me today is Shea Orrick, senior Product Manager for WorldPay, and Yael Barak, vp of Product Management at WorldPay, so thank you both for being here and welcome to the show.
Yael Barack:Thank you for having us. Thank you so much.
Greg Myers:Absolutely so let's go ahead and dive right in. Shay, we'll start with you. If you don't mind, tell our audience a little bit about yourself and your role there at WorldPay.
Shae Orrick:Yeah, absolutely. I've been here at WorldPay for over 11 years and had the privilege of having a number of different roles. I've done operations and sales, a little bit of strategy, and I am now the Senior Product Manager for the Omnicommerce product, commerce360, reporting to Yael and just really excited to talk about it today.
Greg Myers:Awesome, so Yael, over to you.
Yael Barack:Thank you. So I've joined WorldPay in February of this year. Prior to that I was at checkoutcom and prior to that at Paysafe. So altogether about 15 years of payments experience, all of them spent in a product function, working on some core propositions from card processing, alternate payment methods in different countries around the world, and also specializing in things like integrated payments for software platforms, high-risk verticals, and in the last few years I'm now Omnichannel at WorldPay.
Greg Myers:Okay, great. So thank you both for that. So, as you guys know, we're in the fourth episode in this series on Omnicommerce. So, yael, if you don't mind, will you just level set for everyone that might be listening, on the definition of Omnicommerce.
Yael Barack:Sure. So if you haven't listened to our first couple of episodes, the way we think about Omnicommerce is the ability for businesses or merchants to meet their customers wherever they are, wherever they transact and want to pay, and also with whatever device or technology that customer has access to. So we spoke about the different situations where customers pay, whether it's obviously online or in-store, or at their own home with a service provider, and, of course, the technology goes all the way from that countertop terminal in a store to the phone that the customer is holding in their hand, and so Omnicommerce is being able to meet all of these situations and serve your customer, however it is that they would like to be served.
Greg Myers:Okay, great. So, as we've talked about in prior episodes, worldpay has a solution called Commerce 360. So, shay, can you describe that for us?
Shae Orrick:Absolutely so. Commerce 360 is that true Omnicommerce solution that connects all of those points that Yael was just talking about. So, in partnership with GoDaddy, we provide merchants the ability to accept payments both in-store, online, through the phone, social media. It all then routes into one easy-to-use merchant portal for running their business. Outside of payments, commerce 360 has several tools like marketing services and connections to selling on those social media platforms I just mentioned, helping merchants grow their business by finding new customers and rewarding the ones that they already have. So it's a tool for the merchant's business. It's more than just that point of sale, as it drives everything together.
Greg Myers:Okay, yael, anything you'd like to add to that definition?
Yael Barack:That was pretty accurate. I think. The only thing maybe I would add is in order to drive additional value for our merchants, we also do things like integrate with accounting systems and also, of course, being customer of WorldPay, we route all of our value-add services through that platform as well, so the merchants can have that seamless access to the Omnicommerce solution, but also other services from WorldPay.
Greg Myers:Okay, great. Well, let's break it down into sort of three things. And it's sort of the way that you guys, worldpay, positions this solution in the marketplace with connect, run and grow your business. So, yael, if payments and all of those channels that we already mentioned.
Yael Barack:It starts from having a platform to first of all, I guess, set up the kind of payments that you need to accept, whether it's for inventory, so inventory management, if you're a retail business, or if it's services, it might be. Actually, you're setting up payment links and invoicing that you're going to be sending out to your customers, setting up payment links and invoicing that you're going to be sending out to your customers. So step one is our list of features that allows you to do that, to set yourself up for accepting payments and then connecting to, whether it's a, again, a desktop terminal, a mobile terminal that we're going to give you, that you can have a service provider walk around with, or even a mobile application on your phone that can be used to accept payments, possibly in, let's say, a tap-to-pay scenario. So that's how I think about Connect. Okay.
Greg Myers:And Shay, how about Run? What solutions help a business run their business?
Shae Orrick:Yeah, of course. So merchants are dealing with so many moving parts right when they own a business and I think I said before Commerce 360 is a tool to make it easier and more efficient so that the merchant isn't buried in the day to day. Where I see about the run right is the merchant portal. That's really where it starts, as it holds the real time reporting capabilities. Specific reports based on merchant needs can be pulled and, like Yael said, inventory tip reporting. It also gives a solid snapshot of what's happening in real time and, since the portal can be accessed through any browser, the merchant can check in and stay engaged in how the business is running.
Shae Orrick:The connections to QuickBooks that we mentioned earlier right, all of those accounting needs that a merchant could have are taken. They're taken care of with minimal to no lift and the portal and QuickBooks they talk to each other seamlessly, again, just helping them run their business most efficiently. The real-time inventory management will mean that a merchant knows exactly what's in their stock at any given time and it syncs between both their storefront right and then their online store as well, as if they're selling through social. So there's no surprises for the merchant when it comes to their stock count and the portal's just really driving Commerce 360 forward. It's that engine and, as a result, it's the core of the solution that helps the merchants run their business.
Greg Myers:Well, let's stick with you for another minute. Shay, Can you speak to the grow portion?
Shae Orrick:Oh, I'd love to. Yeah, it's one of my favorite parts. Growth is vital for a merchant's long-term success, right? And it can be found in a couple of different ways. So you'll either find growth by enticing new customers to discover your business, right, or, two, you reward and retain these customers for that repeat business. So let's talk about finding new customers first, because that's just through some good old fashioned marketing, right?
Shae Orrick:So we're all consumers and I like to think about that when we're thinking of the different opportunities that this product could have. Like, what would pull me in as a shopper, and is it something that can be supported within our product today, or do we need to add to it? So marketing plays that have pulled me in are key social media posts, ones that have, like, the professional pictures that highlight the product, maybe have a good tagline. If you have a video on the post, that will always get me like it's sucked in. And once I click on that post, I want to get to a user-friendly space where I can easily check out the products, fill my cart.
Shae Orrick:Commerce 360 can do all of that.
Shae Orrick:It has a host of tools that can help build out their social media presence and help create those marketing campaigns too.
Shae Orrick:So in our partnership with GoDaddy, we can even help with that professional photo shoot so that it really catches a new customer's eye, hatches a new customer's eye, and then, when it comes to retaining the customer, right the flip side of this coin creating a loyalty program or drive that'll keep you continuing to come back it's a surefire way to keep a consumer engaged.
Shae Orrick:So you know, there's a company that I found online through Instagram that does this incredibly well. Once I found them on Instagram and I made my first purchase, they gave me 15% off my next purchase via email, and then I was encouraged to sign up as part of their membership program, and it gives me access to new deals before a new customer off the street is coming into. Commerce 360 can set that up for those email campaigns to be pushed. At any rate, it's fully customized for the customer. So, at the end of the day, a merchant needs to just stay top of mind for their customers and create a seamless buying experience that encourages them to continue to come back. Commerce 360 can basically act as the merchant's marketing guru and do just that.
Greg Myers:So, yael, over to you and we've talked about this before, but I think it's such an important part of the solution is the merchant portal. So it seems like one way I put it is it's the glue that holds it all together. Merchants can actually manage from there and maybe even dig into sort of like how did it come about? How easy is it to use? Be as descriptive as you can, because I think that's one of the most important parts of this whole solution is the fact that it's all there together. So can you give us a good description and talk about it in a little more detail?
Yael Barack:Like you say, the merchant portal. You can start at the surface and then really dig in and go deep. So at the surface level you'll find the obvious things like real-time transaction reporting, customer profiles, your inventory, the ability to create and send payment links to customers or invoices to customers. And then, when you dig down deeper and you go into your customer profiles, now you can look at, well, which customers am I most engaged with, who are my repeat customers Through our network of marketplace applications that are part of this ecosystem for GoDaddy. You can actually add functionality to the portal like appointment management, for example, or staff management or payroll things that basically now you have access to an a la carte kind of ecosystem of apps that you can decide at will to add to your dashboard. That'll give you extended capabilities in managing your business so that you can really keep it all centered within that portal, that dashboard, and get a holistic view of how your business is doing, but also things that you need to do in order to manage your business. Does that make sense?
Greg Myers:Makes a lot of sense. Yes, absolutely, and I'm glad you brought up the app thing, because that was something that I wanted to make sure we talked about, because it's really this and I love the word ecosystem that you've built around the product. Moving on, let's talk about friction. It's a common word in our industry and we often talk about, you know, removing friction, and I think what I'd like to do is talk about friction from a couple of different perspectives. One is the friction that happens when consumers are trying to do business with a merchant that maybe doesn't have an Omnicommerce solution like Commerce360. So there's that friction that a merchant may have. So, yael, can you speak to that consumer friction side?
Yael Barack:Yeah, absolutely. I think we hear a lot today about use cases. Like you know, I bought online and I'm returning at the store or picking up at the store, right, and that's a primary use case where, if your online and in-store point of sale don't talk to each other, you can't do that, and so that's one thing that Commerce 360 does really well is connect those two different user journeys the online journey and the in-store journey so that you can service the customer across both of them, no-transcript take out their wallet to pay you, or you don't need to ask them for the payment information to take an order or to send an invoice. That payment information is already tokenized on the platform and therefore, once it's there, all of your future interactions are seamless. So those are two ways in which friction is removed by this experience.
Greg Myers:Okay, great. So Shay, over to you for the friction seen by merchants when running their business. Obviously, you know, if they don't have a solution like this, they're out to you're out finding a mobile solution, finding an online solution, finding a retail solution. So maybe talk about the friction that happens there and how Commerce 360 helps with that.
Shae Orrick:Yeah, it's funny, I know we're going to keep talking and harping a little bit on this portal, right, but Commerce 360 really brings everything together into that one-stop shop so the merchant isn't having to juggle between those multiple systems, right, and all of those different access points that could drive their business forward. It really removes those barriers by just simplifying everything. So Yael did a great job talking about the portal and all of the features that it truly provides. In that space where the merchant has truly full control over managing their business from start to finish, you get too much disconnection. Then you know merchants going to be run by their business and not running their business. So Commerce360 also has all those tools right at' fingertips that they can engage better with their customers.
Shae Orrick:I think the last time we talked, greg right, I compared Commerce 360 to a smartphone. Right, I can use my smartphone. I can bring my smartphone with me. As long as I have that, I can manage my whole day, I can do banking, I can pay for my groceries, I can go ahead and text my husband when dinner's going to be ready. It drives my day and that's what we really want to see out of the solution. Commerce 360 is effectively a smartphone for the merchant's business, removing that friction because it's all in one spot, reducing that complexity that can come with running a business and a regular point of sale system and replaces it with one that can give with running a business and a regular point of sale system and replaces it with one that can give them support from soup to nuts.
Greg Myers:Okay, great, I think that was a great way to kind of summarize what it does. So, as we're coming to the end of the show, I want to make sure that we've covered anything that you guys don't feel like we've missed anything. Obviously, we've talked about the product in depth. That was the goal of this episode was really to kind of peel the onion back, talk about the functionality, talk about what it can actually do. So, yael Shay, is there anything that we may have missed that you want to cover?
Yael Barack:I think the only thing that I would say is from a form factor point of view, the terminal itself for Commerce 360 is very sleek, very like. The design of it is very like visually appealing. So it's a nice thing to have on your countertop in the store, which I think is important, definitely for some businesses where the whole visual aspect of the store is important. It's going to look a little different than your average brick. It's got two screens One is facing the customer, one is facing the merchant. So it's a very nice slick, modern kind of design which I think is just kind of cherry on the top.
Greg Myers:Shay, anything to add?
Shae Orrick:No, I couldn't have said what Yale said better myself. It's definitely sleek and I think that that also builds credibility right With a consumer, especially in such a tech-driven world that we're in. Seeing something that looks high-tech makes me feel like the merchant's invested in their business, making me a little more excited to go in right and purchase it.
Greg Myers:Shay Yael. Thank you both for being on the show today. I know your time is very valuable, so I really appreciate you being here. Thank you, thanks for having us, thanks for having us Absolutely, and to all you listeners out there, I thank you for your time as well, and until the next story.
Speaker 1:Thank you for tuning in today to this special series on Omnicommerce brought to you by WorldPay. To learn more about WorldPay and their Omnicommerce products and solutions, please visit wwwworldpaycom.