Commerce is evolving at a rapid pace and your Payment Strategy must evolve with it. The payments industry is consistently introducing new products and services to meet consumer needs for faster, safer, and more convenient methods of payment. Continued introduction of new payment types and changing security standards combined with evolving vendor capabilities and legislative requirements creates a complex landscape to navigate. Building an effective Payment Strategy that complements your overall strategy while meeting consumer needs creates a competitive advantage by leveraging supplier solutions with internal capabilities and is now more important than ever.
W. Capra has a proven methodology for Payment Strategy development which examines an organization’s goals and competitive landscape to identify current and future requirements and the solutions to deliver each. Our vast experience working with organizations and payment solution providers across multiple channels (retail and digital) within numerous verticals allows us to bring a unique perspective to each client engagement. Combining our experience and our established methodology helps ensure the payment strategies delivered are obtainable, executable, and provide a clear roadmap for achieving your organization’s goals.
- Operational Integrity more vital than everAs technology is pervasive at retail locations supporting more offers and consumer engagement options, the resiliency of this technology must be monitored and assured. Making sure that products are available, priced correctly, and that consumers can transact with prescribed offers, earn loyalty and use desired payment is critical to the business.
- Can your business fully automate UAT and Certification?titive tasks in place of manual human re-entry. Given the current state of automated testing, however, W. Capra urges any merchant exploring automated capabilities to ensure that human resources continue to remain a part of testing— not just to oversee testing robotics, but to play an active role in the QA process where robotics have not yet proven effective.
- What is a Payment Account Reference (PAR) and why does it matter to merchants?PAR is an alphanumeric reference point that enables a business to track a consumer and their payment account across the various payment methods they use. For example, a consumer may have 3 credit cards in their wallet, each of which would generate a different token if used in a tokenized environment. PAR links these cards to a single payment account and broadens the idea of tracking a consumer’s activity across payment methods beyond the scope of a single merchant.