-
PAYMENTS AND THE CUSTOMER EXPERIENCE
Seven Strategies for Success
eGUIDEFOR MERCHANTS
-
PAYMENTS AND THE CUSTOMER EXPERIENCE
Seven Strategies for Success
eGUIDEFOR MERCHANTS
Seven Strategies for Success
1. Expand Your Horizons
2. Enable Payments Anyhow, Anytime and Anywhere
3. Protect...
4. …and Serve
5. Stay Flexible and Stable
6. Consolidate for Cost Control and Innovation
7. Partner with an Expert
-
Look across all the channels in which you operate. Don’t let
organizational silos stand in your way — it’s only by combining
data from across all channels that you can fully understand your
customers, their preferences and buying behavior.
And don’t forget the data in your fraud management systems —
that’s often the richest source of customer behavior profiles.
It’s worth the effort to understand your customers —
omni-channel consumers spend on average 4% more in store and 10%
more online.1
1. EXPAND YOUR HORIZONS
RETAILERS RATE THEMSELVES, ON AVERAGE,
6/10 IN TERMS OF KNOWING
THEIR CUSTOMERS. 2
How well do you measure up?
1 Source: Business Insider UK, January 20172 Source: The Role of
Payments in the Customer Experience, ACI and Retail Week, 2017
3 | 9
http://go.aciworldwide.com/Role-of-Payments-in-the-Customer-Experience-2.html
-
Your consumers want to pay when and how they like. They want to
make payments in a tap or a click, and use the payment methods with
which they are familiar in their domestic markets to make purchases
when they travel or to buy from international retailers.
• Over 50% of millennials are already using or would prefer to
use PayPal and Venmo over traditional payment methods.3
• Alipay has more than 450 million active Chinese users. And
there were 135 million international Chinese travellers in 2016 —
that’s a lot of spending power on the move!4
2. ENABLE PAYMENTS ANYHOW, ANYTIME AND ANYWHERE
Some newly emerging payment methods, such as immediate payments,
promise real cost and cash flow advantages to retailers. You’ll
want to think about encouraging their use with special deals and
loyalty points for participating consumers.
48% OF EUROPEAN RETAILERS ARE
USING MOBILE WALLETS — THIS IS EXPECTED TO RISE TO
77% WITHIN 12 MONTHS. 5
What are your plans?
3 Source: The Financial Brand, February 20154 Source: UNWTO,
April 2017 5 Source: Payment Trends in the European Retail Sector,
Edgar, Dunn & Company, February 2017
4 | 9
http://globalcoverage.aciworldwide.com/gc/#/
-
Secure and protect your customers’ payments — with encryption,
tokenization and a comprehensive fraud management solution.
As well as improving service and promoting the brand loyalty of
your genuine customers, this will also help you track these
customers across channels — and cut the burden of PCI
compliance.
3. PROTECT…
And a good fraud management solution doesn’t just stop fraud; it
promotes profitable growth by enabling you to extend your business
safely across borders and into new, higher-risk markets.
omni-tokens CAN BE STORED WITHOUT
IMPLICATIONS FOR PCI.
5 | 9
https://www.aciworldwide.com/lp/conversion-fraud
-
Loyalty programs help retailers increase sales, driving brand
loyalty and repeat business. • Make sure your scheme operates
across all channels.
• Consider replacing cards and coupons with apps for a smoother
customer experience.
4. …AND SERVE
“Our loyalty schemes allow us to market more intelligently to
our customers.” ACI/Retail Week 2017 study
RETAILERS WITH A
loyalty scheme ARE FAR MORE POSITIVE
ABOUT USING DATA TO DRIVE IMPROVEMENTS IN CUSTOMER
EXPERIENCE.
The Co-op, one of the U.K.‘s largest convenience food
retailers, rewards its members with a range of benefits and
services. Some of these directly support local charities, better
connecting the stores to their
local communities.
6 | 9
http://go.aciworldwide.com/Role-of-Payments-in-the-Customer-Experience-2.html
-
Impressive — and essential.
With retail and payment technologies changing fast, you need to
stay flexible, free to move quickly to take advantage of emerging
opportunities. Don’t get tied in to any single vendor — be it PED
vendor, POS provider or acquirer.
Make sure you are in a position to negotiate acquirer fees and
choose the best companies to support your expansion.
At the same time, don’t sacrifice platform stability and
security. High-volume processing power and reliability are table
stakes in a highly competitive retail environment — you sacrifice
them at your peril.
“ACI’s Postilion® is the goose that lays the golden egg for us.
We need to ensure 24x7 uptime with 100% availability of our card
payments environment, which Postilion offers us consistently.”
5. STAY FLEXIBLE AND STABLE
7 | 9
https://www.aciworldwide.com/insights/case-studies/picknpay
-
For many retailers, payment systems differ between sales
channels, reflecting not only different consumer expectations and
payment preferences, but also the cost to the business of upgrading
and consolidating multiple systems. • Build once, deploy often — to
reduce costs and
increase speed to market of new innovations.
“We must remove the domestic and technical barriers on our
various payment systems to achieve an open European solution on
card payments, to reply to the needs of our customers.” Arnaud
Crouzet, Groupe Auchan
6. CONSOLIDATE TO CONTROL COSTS AND SUPPORT INNOVATION
“There are a lot of legacy systems that aren’t fit for new
technologies, including payment types.”
ACI/Retail Week 2017 study
8 | 9
http://www.nexo-standards.org/
-
PARTNER WITH AN EXPERT
84% of retailers would look to third-party providers to support
their payment needs — up from 60% in 2014.6 “We need help to see
the ‘wood from the trees’. It’s becoming increasingly difficult to
make a calculated bet on what is coming next, on both the payment
and wider technology front.”
ACI/Retail Week 2017 study
Payment services delivered in the cloud provide the flexibility
and scalability that retailers need, while removing the compliance
burden and the requirement for capital investment.
6 Source: Payment Trends in the European Retail Sector, Edgar,
Dunn & Company, February 2017
ACI Worldwide, the Universal Payments (UP) company, powers
electronic payments for more than 5,100 organizations around the
world. More than 1,000 of the largest financial institutions and
intermediaries, as well as thousands of global merchants, rely on
ACI to execute $14 trillion each day in payments and securities. In
addition, myriad organizations utilize our electronic bill
presentment and payment services. Through our comprehensive suite
of software solutions delivered on customers’ premises or through
ACI’s private cloud, we provide real-time, immediate payments
capabilities and enable the industry’s most complete omni-channel
payments experience.
CONTACT US
Americas +1 402 390 7600Asia Pacific +65 6334 4843Europe, Middle
East, Africa +44 (0) 1923 816393
© Copyright ACI Worldwide, Inc. 2017ACI, ACI Worldwide, ACI
Payment Systems, the ACI logo, ACI Universal Payments, UP, the UP
logo, ReD, PAY.ON and all ACI product names are trademarks or
registered trademarks of ACI Worldwide, Inc., or one of its
subsidiaries, in the Unit ed States, other countries or both. Other
parties’ trademarks referenced are the property of their respective
owners.
WWW.ACIWORLDWIDE.COM
@ACI_WORLDWIDE
[email protected]
WWW
http://www.aciworldwide.comhttps://twitter.com/aci_worldwide?lang=enmailto:contact%40aciworldwide.com?subject=https://www.aciworldwide.com/insights/case-studies/scheels
Expand Your HorizonsEnable Payments Anyhow, Anytime and
AnywhereProtect ...... and ServeStay Flexible and StableConsolidate
for Cost Control and InnovationPartner with an Expert
Button 45: Button 31: Button 32: Button 33: Button 34: Button
35: Button 36: Button 37: Button 38: Button 39: Button 40: Button
41: Button 42: Button 43: Button 44: Button 30:
