What are omnichannel payments and why they are important for business

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In 2024, Europe’s payment landscape reached an important turning point. The European Central Bank (ECB)’s latest report showed this key moment: online payments in the Eurozone now make up 21.2% of all transactions and account for 35.6% of the total daily transaction value. At the same time, non-cash payments at physical POS terminals went over 45% for the first time.

These numbers aren’t random events but a clear sign: the era of omnichannel payment integration has begun. Payment behavior has changed—it’s no longer just about finishing a transaction. It has become a major factor that shapes customer experience, shows brand value, and directly influences business growth.

This article uses the latest payment data from the European Central Bank (ECB) to explain new payment trends for merchants. It aims to help businesses adjust to changing consumer payment habits and increase their profits.

The great shift in payment behavior: challenges for merchants 

This major shift in payment habits is especially clear in countries like Germany, France, and the Netherlands, where over 60% of POS transactions are now made without cash. Online, customer payment preferences are very spread out: credit cards make up 48.3%.

However, this variety brings a new business challenge: the more freedom consumers have, the more difficulties and risks merchants face.

More payment choices mean more freedom for consumers, but they also require merchants to provide diverse, easy, and secure payment experiences.

Silkpay focuses on exactly this: allowing consumers to “pay the way they want” while helping merchants handle every transaction with ease.

Online and offline, building a unified payment ecosystem

To tackle the challenges of omnichannel payments, Silkpay has built an all-in-one platform that smoothly combines both traditional and modern payment methods in one system. This gives global merchants a flexible and complete solution for managing payments with ease.

Key features include:

• Traditional card payments: Supports major networks such as Visa, Mastercard, Amex, CB and UnionPay, which covers the payment habits of most customers.

• Mobile & digital wallets: Works with popular NFC payment methods like Apple Pay and Google Pay and meets modern consumers’ need for convenience.

• Integration with leading Asian wallets: Connects to over 16 Asian e-wallets through Alipay+, which helps merchants reach Chinese and Asian shoppers.

• POS & Mobile POS: Provides professional POS terminals and mobile POS (mPOS) features, merchants can accept payments directly on a smartphone, it’s perfect for retail, restaurants, and events.

• Pay by Link: Lets merchants collect payments directly through email, social media, or other online channels; which is an ideal solution for businesses without a full e-commerce setup or those who encourage multi-channel customer journeys.

• Plugins & API integration: Offers easy-to-use plugins and powerful API connections, merchants can integrate more payment methods with their existing websites or apps.

No matter whether a transaction happens online or offline, or what payment method is used, all payment data flows into Silkpay’s unified backend, giving merchants a single, clear view of every transaction.

Data insights: turning payments into a growth engine

Payment data reveals important insights into customer behavior. Silkpay’s data dashboard helps businesses understand whether customers prefer mobile payments, e-wallets, or credit cards, and identify which payment methods generate the highest average order value (AOV). This allows merchants to allocate resources smarter and make better business decisions.

Using these insights, merchants can refine their payment options, simplify checkout processes, and design personalized promotions. For example, if data shows that customers prefer Alipay+ or WeChat Pay, merchants can highlight these options first to increase conversion rates.

This data-driven approach to payment management shows that payments are a powerful tool for improving customer experience, building loyalty, and strengthening competitiveness.

The future is here: payment experience equals brand experience

Over the past two years, the adoption of instant payments has increased from 51% to 60%, reflecting consumers’ growing demand for payment experiences that are fast, secure, and convenient. Today’s consumers expect to buy gifts with WeChat Pay in Paris stores and complete purchases with Alipay+ on Berlin e-commerce sites; they want to move between online and offline channels while enjoying a smooth and consistent payment experience.

Conclusion

Silkpay has developed a payment platform that relieves merchants of concerns about system complexity or cross-border limitations. Regardless of where customers are located, payments can be completed and confirmed within seconds. Instant payments, e-wallets, credit cards, and other methods are all managed through a single, unified system, ensuring smooth and seamless transactions.

In this ecosystem, payment reflects a brand promise. Providing a fast, reliable, and globally accessible payment experience is the most direct way to show respect to customers.

Silkpay turns every payment into a simple global connection, so merchants and customers can fully embrace the new era of omnichannel payments.

About the author: Silkpay

Based in Paris, Silkpay provides omnichannel and secure payment solutions to help physical stores and e-commerce in Europe and the Americas accept more than 30 of the world's most popular payment methods: Visa, Mastercard, CB, UnionPay, Alipay+, WeChat Pay as well as Asia-Pacific’s major e-wallets.

Silkpay is a winner of the LVMH Innovation Award. The company was also selected as a finalist for the "Money 20/20" Best Startup and in the "MPE Berlin” Startup Awards. Silkpay also won the "Best Fintech" awards from Capgemini and BPCE.

Silkpay helps merchants deliver the smoothest payment experience to their customers. We are a talented and international team driven by a single goal: to improve the customer experience and make payments simple and secure.