The cost associated with taking a payment is made up of many different layers, each with different interrelated components. While it may be easy to reference and track your merchant statement each month and think you have a handle on your costs, modern companies need to understand that this is just the tip of the iceberg. Cost optimization involves an examination of the entire current payments system, looking at everything from interchange and processor fees to equipment, providers, architecture, security, PCI compliance, payment methods, and much more.
W. Capra helps clients to establish a baseline and identify potential issues or areas of opportunity. Using this baseline, we compare the current solutions to alternatives and new technologies in the field to confirm that the best options have been employed. In today’s world, this comparison analysis is especially important as payment technology continues to change rapidly, which inherently affects the total cost of acceptance for your organization. As thought leaders in the commerce space, W. Capra works with industry leaders and innovators to optimize costs for a variety of merchants.
W. Capra supports organizations in making immediate and short-term adjustments to current payments system to reduce costs. These adjustments can include interchange optimization, least cost routing, contract renegotiation and more. From our years of experience as cost optimizers, we also help companies make informed choices for employing new strategies in the future, such as offering new payment methods or changing the payment system architecture to employ a gateway or multiple acquirers.
There are no one-size-fits-all answers to cost optimization, so W. Capra works to understand, breakdown, and analyze every payment system before making customized—and ultimately optimized—recommendations.
- PCI DSS 4.0 looms large Merchants need to immediately start understanding what additional budget they are planning to allocate to tackle the increased time and costs necessary to maintain PCI compliance. Even working to find and procure the services of an approved scanning vendor will take time and internal resources.
- What does the new Taco Bell Defy concept mean for Convenience?This new Taco Bell concept should not be seen merely as a signal to other fast-food operators and Quick Service Restaurants (QSR) that change is coming; this is a sign to all who strive to offer quick, convenient, access to high quality food and drink that adaptation is required. As a company, you don’t get to define what convenience means. The broader market and consumers are defining that for you, and expectations are being redefined every day.
- How Your Competitors Inform Your Program StrategyWhile too strong of a focus on the competition will not lead you closer to a winning program strategy, collecting competitive insights with purpose as part of your broader program strategy can enable new insights to help you serve your consumer base. These insights can solidify your understanding of table stakes, barriers to entry, and opportunities to differentiate within your market, but there are best practices that W. Capra recommends to employ this effectively.