The Retailer SUMMER 16_v7

technology

Applying Data to Measure Performance Aside from just facilitating payments and offering local strategic advice, PSPs can be used to create a data-driven assessment of performance. Huge amounts of raw data are of little use without knowledgeable analysis and benchmarking that focuses on the real business questions. It is important to understand the local market and know how the competition is performing. For example, an 85% authorisation rate may be excellent in one country but poor in another. This is when data really comes to life and provides the invaluable information that can guide your expansion project. The Vendors That Can Deliver Your Vision All four corners of the globe are now connected in commerce by an intricate maze of payment pathways. It is a maze that requires navigation based on a precise understanding of local trends. Merchants in a new market will typically invest huge efforts into bringing customers to their site and through to the checkout, but if the payment system is too cumbersome or unfamiliar they are likely to lose these customers. A tailored payment system, based on local knowledge, is critical to converting traffic into sales. The chosen provider must have the innovation of a cutting edge PSP player, the heritage of a long standing industry leader and the experience of a global and local execution team.

“If customers are not offered their preferred payment method, they will probably just abandon the transaction.”

JULIAN WALLIS // Julian.Wallis@ecom.ingenico.com // www.ingenico.com/epayments

retailer | summer 2016 | 25

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