Oracle Introduces PCI-Compliant Payment Cloud Service in the UK
Lawrence Jengar Jun 13, 2024 03:03
Oracle launches PCI-compliant Payment Cloud Service in the UK with fixed-rate pricing and streamlined reporting.
Oracle has officially launched its PCI-compliant Payment Cloud Service in the UK, offering a comprehensive solution for restaurants, pubs, and stadiums. This new service provides flexible payment options, competitive pricing, and streamlined reporting, according to oracle.com.
Enhanced Payment Capabilities
Alongside the Payment Cloud Service, Oracle has introduced Oracle Checkout, a solution that integrates seamlessly with existing ecommerce channels such as websites, mobile apps, and third-party aggregators. This combination aims to enhance the management of payments across various channels, ultimately improving both customer experience and operational efficiency.
By consolidating data within a single, secure platform, merchants can more effectively reconcile fees, offer customer refunds, and forecast financial metrics like revenue and cash flow. Simon de Montfort Walker, executive vice president and general manager of Oracle Restaurants, highlighted the cost-saving benefits, noting that customers are experiencing significant reductions in annual processing costs.
Predictable Pricing Model
One of the standout features of Oracle's Payment Cloud Service is its fixed-rate pricing model, which mitigates the unpredictability often associated with payment processing fees. This model eliminates additional service or convenience fees, providing businesses with greater financial predictability. The service is PCI-compliant and does not require a long-term contract, allowing businesses to anticipate transaction costs more accurately.
When integrated with Oracle's existing restaurant management systems, such as Oracle Order and Pay and Oracle Simphony Cloud, the Payment Cloud Service offers a cost-effective, efficient way to manage customer transactions. This is particularly beneficial for diverse dining formats, from fast-casual to stadium concessions.
Continuous Support
Oracle's new payment solutions are backed by 24/7 support, ensuring rapid resolution of any issues that may arise. The support team is well-versed in the entire Oracle Restaurants technology ecosystem, providing comprehensive assistance from point-of-sale to payment settlement.
Currently available in both the US and the UK, the Oracle Payment Cloud Service is expected to be generally accessible by this summer. This launch is part of Oracle's broader strategy to enhance digital payment solutions and support the hospitality industry's evolving needs.
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