Retail brands can now accept all major payment
options to give shoppers a choice in how they pay without the
unexpected costs or long-term contracts
AUSTIN,
Texas, Jan. 12, 2023 /PRNewswire/ -- The welcome
return to in-store shopping has also brought retailers a host of
unexpected payment processing fees and complexity. To help combat
this challenge, Oracle today extended its comprehensive retail
cloud platform to include the Oracle Retail Payments Cloud
Service. With the solution, US retailers can now accept the latest
in contactless payment options, including debit/credit cards and
Apple, Google, and Samsung Pay, without the hidden fees and
unpredictable costs that erode the bottom line. This is all with
transparent, fixed-fee rate pricing with no long-term contract
lock-in or monthly minimum requirements.
"Retailers have long been at the mercy of a payment ecosystem
with high and unpredictable fees," said Mike Webster, senior vice president and general
manager of Oracle Retail. "Today we are extending our retail cloud
platform to bring a more stable 'payment to processing' solution to
market for a fraction of the cost. Now, retailers have a single
provider to manage their in-store operations, from staffing and
inventory management, through to customer engagement and
transaction processing."
One stop shop for payments through
to processing
The variability of payment processing costs by provider and card
type, coupled with unpredictable system stability and service fees,
make it hard for retailers to estimate processing costs in their
financial planning. Oracle Retail Payment Cloud Service provides a
fixed rate and competitive pricing model that enables retailers to
anticipate exactly how much they will pay for every transaction –
regardless of payment method used. There are no additional service
or convenience fees or monthly minimums.
And as the service runs on Oracle Cloud Infrastructure
(OCI), it has high security standards, end-to-end encryption,
and is PCI/DSS compliant. When integrated with Oracle Retail Xstore
Point-of-Service (POS) and Oracle MICROS hardware, it provides
retailers with a complete platform for payment acceptance through
to processing.
See the new Oracle Retail Payments Cloud Service and Oracle's
complete platform for modern retail in action at the National
Retail Federation (NRF) show on January
15 – 17, 2023 in New York
at booth #5121 or join our virtual session on January 31 by registering at:
https://www.oracle.com/industries/retail/zoom-zone/.
About Oracle
Oracle offers integrated suites of
applications plus secure, autonomous infrastructure in the Oracle
Cloud. For more information about Oracle (NYSE: ORCL), please visit
us at www.oracle.com.
Trademarks
Oracle, Java, and MySQL are registered
trademarks of Oracle Corporation.
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SOURCE Oracle