How Fiserv Plans to Blend Physical Retail and Digital Commerce through Carat

As physical retail merges with digital commerce, renowned payment network Fiserv Inc. plans to make its Carat platform the solution to power providers like the Google Unit by Alphabet Inc and Merchants to process payments throughout all channels.

Fiserv made a significant move towards that direction recently when it publicized that it will prepare petroleum retailer ExxonMobil to offer new customer experiences at the filling station via the newly-upgraded Google Pay app.

The payment network also plans to help ExxonMobil drive sales through the mobile wallet, according to Nandan Sheth, Chief of digital retail at Fiserv.

For instance, if you stop to refill at an ExxonMobil station, all you have to do is open your Google Pay wallet and use their voice to start the pump without moving out of the car.

After a refill, you can pay for the service through Google Pay– again from the comfort of your automobile. Once you’ve made the payment, ExxonMobil may suggest offers, rewards, or

customized content to encourage other immediate or future purchases.

“Carat connects digital and physical retail enabling reputable providers like Google Pay and retailers to push the buyer’s shopping journey way past the buy button,” Sheth explains. “We strongly feel merchants need our help to achieve this goal.

Carat is a package of solutions that streamlines business across various channels and gadgets. Some of its features include order ahead, speech command, scan & go, endless aisle, and connected car. And as it seems, Fiserv plans to brand Carat into what it terms as an “omnichannel solutions” platform, just like it did with Clover point-of-sale for micro-businesses and restaurants.

The payment giant now plans to onboard merchants that deal in petroleum, fast-moving food and restaurant services, and grocery stores. Its primary goal is to introduce new user capabilities that can blend physical and digital commerce.

In grocery stores, Carat can play a significant role in eliminating checkout queues. “The platform’s primary focus is to enhance quick on-the-go buying experiences,” Sheth says.

Wrapping Up

Fiserv also explains that its platform is open to other digital wallets. “Our deal with Google Pay and ExxonMobil isn’t the end of things,” Sheth says. “There are many other capable providers and merchants who can leverage Carat to streamline the shopper journey throughout digital and physical commerce by improving the payment experience and driving repeat business.”

Author Bio: Payment industry guru Taylor Cole is a passionate payments expert at who understands the complex world of merchant accounts. He also writes non-fiction, on subjects ranging from personal finance to stocks to cryptopay. He enjoys eating pie with ice-cream on his backyard porch, as should all right-thinking people.

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