A Payments Playbook for Multichannel Executives

Payments is an area of complexity for some retailers but something that cannot be ignored. The biggest challenge is balancing a frictionless user experience with security.

How do you overcome such barriers to user experience? How do you balance fraud and ease of use, cost to serve and user experience whilst still embracing flexibility and innovation?

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Examining the commercial aspects of key trends in the payments landscape

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In this whitepaper, produced in partnership with ACI Worldwide, we explore the latest payments acronyms and define them and what they mean for your business. We look at the retail perspective; how important retailers perceive such initiatives, their understanding of the commercial impact and the challenges faced by retailers in balancing a frictionless process with security.
Some key findings from our research:
  • Ranked by importance, the top three payment issues are GDPR (92% ranked its as very important or important), PSD2 ( 89% ranked very important or important) and alternative payment options – including immediate payments (ranked as very important or important by 88% of respondents)
  • The greatest appreciation of commercial impact was around alternative payments and immediate payments where 93% of retailers had confidence they understood the impact
  • Fraud prevention was most important for one in five retailers (20%)
  • 26% said they were concerned about fraud prevention than a frictionless experience. Only 6% said a frictionless experience was more important to them
  • More than half (55%) said that customer experience was a priority over cost