5 Key Success Factors to Optimize the International Payment Experience

At 3C, we believe in supporting you to achieve your technical and financial payment objectives across your international enterprise without compromise.  Here are 5 key success factors for optimizing your acceptance of international payments that we have identified with our clients:

  1. Customer experience is a primary competition battleground. Brands that focus on relevance, simplicity and efficiency outperform their competitors by over 400%[1]. Ease of payments and refunds are an essential part of the purchasing journey that can significantly impact the overall customer experience with the ability to influence loyalty and customer recommendations. Security, reliability and functionality at all touch points are important.

     

  2. Channel expertise where it matters most. Although online sales gain in importance as they continue to increase, most omni-channel merchants still take >80% of their revenue through physical face to face transactions. Ensure principal trading channels are protected and developed with specialist payments expertise from your PSP to provide enhanced face to face customer functionality while also addressing new regulation  that is driving greater payment application complexity.

     

  3. Channel convergence increases revenue. Allowing customers to interact, reserve and pay through different channels supports the modern purchasing journey driving higher average spend per customer.[2] Enriched tokenization services provided by your PSP allow for cross channel payment flows including pre-authorizations, reversals & refunds. Tokenization also facilitates ‘one touch’ and recurring payments that simplify the payment process.

     

  4. Centralized control delivers cost benefits. Having diverse international payment solutions across an organization requires duplication of effort and fees without improving customer service. Operational and financial benefits can be realized by standardizing infrastructure and consolidating contracts, reporting and support services through a single integration. Ensure that your PSP has the relevant international capability and experience in terminal management to realize the benefits whilst providing a top quality localized customer experience.

     

  5. Business flexibility to secure the best acquiring solution. The financial costs for accepting and handling payments can be significant and will vary across channels and countries. Having an independent best fit technical solution that works in close collaboration with a range of local and cross-border acquirers allows you to select the acquiring services that meet your financial objectives in each business unit and negotiate best rates – now and in the future. Solutions that inextricably lock enabling and acquiring solutions together will inevitably mean compromises have to be made.

Realize the operational and financial benefits of choosing a flexible payment ecosystem that reliably provides a best of breed customer experience and puts you in control to change acquirers as desired. Contact us  to find out more about how to achieve a technical and financial win-win.   

 

 

 

 

 

 

[1] Siegel+Gale Global Brand Simplicity Index 2017

[2] Mastercard Advisors Analysis

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