WEBINAR Unraveling The Payments Acceptance Industry Brendan Miller, Principal Analyst June 29, 2016. Call in at 12:55 p.m. Eastern time
A bit about me: Forrester analyst — covering payments, commerce technology, and customer behavior Director of marketing — 7-plus years in payments industry (First Data, Mercury Payments, and Vantiv) 18 plus years in B2B and B2C marketing (Pulte Homes and agencies/research) @brendan_miller
Valuable connection point to your customers
Unraveling the complexity
Agenda Payments are a key ingredient to digital transformation. The payments acceptance landscape Getting started in the selection process
Agenda Payments are a key ingredient to digital transformation. The payments acceptance landscape Getting started in the selection process
Consumers shopping and buying anywhere with mobile
Consumers using omnichannel fulfillment services Online purchase <-2-> Offline returns
Global expansion is a key growth initiative.
Defending data from hackers and fraudsters
Overview Payments are a key ingredient to digital transformation. The payments acceptance landscape Getting started in the selection process
A panoramic view Source: Upcoming “Vendor Landscape: Untangle Payment Acceptance For The Age Of The Customer” Forrester report
The key players in the transaction flow Source: Upcoming “Vendor Landscape: Untangle Payment Acceptance For The Age Of The Customer” Forrester report
Payment enabler Technology application layer that connects to multiple acquirers/processors Source: Upcoming “Vendor Landscape: Untangle Payment Acceptance For The Age Of The Customer” Forrester report
Acquirer/processor Acquirer — sells, underwrites, and manages merchant account Processor — connects to the networks to support transaction authorization, processing, and merchant funds settlement Source: Upcoming “Vendor Landscape: Untangle Payment Acceptance For The Age Of The Customer” Forrester report
Networks Verify card information with the issuers, and pass funds through to the merchant processor Source: Upcoming “Vendor Landscape: Untangle Payment Acceptance For The Age Of The Customer” Forrester report
Payment processing economics Source: Upcoming “Vendor Landscape: Untangle Payment Acceptance For The Age Of The Customer” Forrester report
Agenda Payments are a key ingredient to digital transformation. The payments acceptance landscape Getting started in the selection process
Payment Vendor Selection Process Organize Narrow Evaluate Decide
Dig deeper on vendor capabilities How do the vendors’ core processing capabilities match our business requirements? What are our global acceptance requirements? Are we duplicating vendors? Are we extracting the most value from our payment vendors? How difficult will the integration be?
Recommendations Pick apart industry jargon and vendor claims. CLEARLY DEFINE YOUR NEEDS BEYOND COSTS BEFORE MOVING INTO VENDOR DISCUSSIONS Pick apart industry jargon and vendor claims. Clearly articulate your requirements to vendors. Set proper expectations internally and externally. Install a backstop in your contract against monthly fees. Look for long-term partners, and proceed with caution.
Brendan Miller Twitter: @brendan_miller