Andrew Quartermaine

Positioning PSPs for Success in 2020: Scalability, Flexibility and Globality

We used to say that NFRs (non-functional requirements) such as scalability and availability didn’t really make for attention-grabbing headlines, but in fact, 2019 has shown us that these NFRs are often not far away from the biggest stories. A major outage or downtime – be it for bank or merchant – makes headlines in its own right, but we’re increasingly seeing a clear link between NFRs and a company’s growth trajectory. Those companies that are generating positive awareness from their ambitious global expansion plans, innovative customer experiences, or unique approach to fighting fraud – they are achieving this off the back of technology solutions that deliver world-class non-functional requirements. Scalability, flexibility and globality underpin these growth stories – and this message comes out clearly in speaking with some of our leading payment service providers (PSPs), which are supporting the growth of thousands of merchants around the world.

Merchants: Digital Presence and Strategy are Key to Success in Today’s Competitive Environment

Over the last decade, merchants across all sectors have gone through a metamorphosis of sorts, with new online merchants emerging and often growing fast and furiously, while many larger, physical anchor stores struggle to remain relevant in the face of digital displacement. Now more than ever, merchants need to innovate to stay relevant to their customers in a fiercely competitive landscape with constantly changing channel and buying desires.

Why Omni-Channel Shoppers Are Worth It

Today’s consumers are tech savvy and highly connected, demanding convenience, speed and choice across channels, payment methods and fulfilment options. And, with a growing proportion of shoppers readily switching between online, mobile and physical touchpoints at various points in the purchasing journey, merchants are now dealing with a constantly evolving and unpredictable retail landscape. This requires fresh strategies and technologies that allow them to adapt to the expectations of omni-channel customers.

Drowning in Data? Or Thirsty for More? Omni-Channel’s Biggest Challenge

There is no doubt that retailers recognize the value of knowing their customers better. Whatever the merchant sector, geography, or business model, understanding customer buying habits, payment and channel preferences, and satisfaction levels can drive sales, boost customer loyalty and raise revenues. But, in the ever-changing world of the omni-channel shopper, how easy is it to really know your customer?

The single biggest key to this challenge is data – and lots of it. Not just ‘big data’, but smart, consolidated big data – and this only comes from the ability to bring massive amounts of information together from multiple sources, and analyze it to build a comprehensive picture.