The Challenge for Retailers - Building an Open Payment Platform
This feature is upgradeable
For End Users
You can activate this feature and other links for ALL VENDORS with a VendorMatch Premium subscription. Additionally you can gain access to an increased depth of data, summary reports, RFX reports (detailed completed RFIs - available to financial institutions only) and comparison grids. Please click here for more information on Premium features.
For Vendors
Vendors can activate their links and gain access to analytics by upgrading to VendorMatch PRO. Please click here for more information
Ask an Analyst
Ask an analyst is the ability to communicate with one of our analysts about this vendor, system or genre of solution.
Survey Summary
The Survey Summary provides a download of the vendor profile, solution profile and the VendorMatch Discovery survey vendor responses used to power the directory. All responses are provided by the vendor online.
Note that this report is a high level summary of the vendor's credentials and a solution's capabilities designed to assist with solution short-listing. The RFX report is the more comprehensive Request For Information report designed to support evaluation and selection, this will only show where the vendor has completed the "RFX" RFI.
HOW TO SUBSCRIBE
To protect vendor data only financial institutions and recognized advisors can subscribe to VendorMatch Premium. Please click here for more information on Premium features or contact us to discuss a subscription.
RFX Report
The RFX report is an XLS download of the Vendors response to the “RFX” Request for Information for this solution.
The RFX is a centralized golden copy of a RFI authored by our analysts based on their expertise in running real-life system evaluation and selection projects and completed by the vendor online.
Note to protect vendor that only Financial Institutions and recognized Advisor can subscribe to this feature.
In each instance the first time the link is used the user requests permission to access the RFX report and it is the vendor who is required to authorizes access. You will be alerted when the vendor has reviewed your request and granted permission.
HOW TO SUBSCRIBE
You can activate this feature with a VendorMatch Premium subscription. Please click here for more information on Premium features or contact us to discuss a subscription.
To learn more about subscribing to our service options, please contact us here
This feature is upgradeable
For End Users
You can activate this feature and other links for ALL VENDORS with a VendorMatch Premium subscription. Additionally you can gain access to an increased depth of data, summary reports, RFX reports (detailed completed RFIs - available to financial institutions only) and comparison grids. Please click here for more information on Premium features.
For Vendors
Vendors can activate their links and gain access to analytics by upgrading to VendorMatch PRO. Please click here for more information
Ask an Analyst
Ask an analyst is the ability to communicate with one of our analysts about this vendor, system or genre of solution.
Survey Summary
The Survey Summary provides a download of the vendor profile, solution profile and the VendorMatch Discovery survey vendor responses used to power the directory. All responses are provided by the vendor online.
Note that this report is a high level summary of the vendor's credentials and a solution's capabilities designed to assist with solution short-listing. The RFX report is the more comprehensive Request For Information report designed to support evaluation and selection, this will only show where the vendor has completed the "RFX" RFI.
HOW TO SUBSCRIBE
To protect vendor data only financial institutions and recognized advisors can subscribe to VendorMatch Premium. Please click here for more information on Premium features or contact us to discuss a subscription.
RFX Report
The RFX report is an XLS download of the Vendors response to the “RFX” Request for Information for this solution.
The RFX is a centralized golden copy of a RFI authored by our analysts based on their expertise in running real-life system evaluation and selection projects and completed by the vendor online.
Note to protect vendor that only Financial Institutions and recognized Advisor can subscribe to this feature.
In each instance the first time the link is used the user requests permission to access the RFX report and it is the vendor who is required to authorizes access. You will be alerted when the vendor has reviewed your request and granted permission.
HOW TO SUBSCRIBE
You can activate this feature with a VendorMatch Premium subscription. Please click here for more information on Premium features or contact us to discuss a subscription.
To learn more about subscribing to our service options, please contact us here
The Challenge for Retailers - Building an Open Payment Platform
Retailers need to embrace new consumer demands and learn from new consumer consumption patterns to meet their shopping expectations. This is driving complexity for the retailer community since it means supporting new checkout means, new payment means, new payment channels, new technology, and adapting to new ways of enabling the shopping journey.
These new consumer demands challenge both pure online merchants which lack in-store expertise and brick and mortar merchants. They need to implement digital shopping experiences and omni-channel retail infrastructures. It is about creating a seamless customer dialogue through every stage of the customer journey, from pre-purchase research to post-sales support and after sales care, and from in-store to in-app and online - independent of the device used.
Retailers also need to transform their supply chain management and logistics processes, especially to take into account inventories, orders, consumer data, loyalty, and real-time stock verification to support Click & Collect. The objectives here include the ability to improve the whole interaction between online and offline to the customer’s convenience, creating a single customer database, and simplifying the current, separate outlet and online sales systems.
In the light of the latest payment trends like Open Banking payment apps, invisible payments and conversational commerce, retailers need a strong global omni-channel strategy for payment acceptance to succeed.
Specific key challenges for retailers consist of implementing a new kind of central payment platform. At the heart of the retailer’s omni-channel strategies, a central payments platform combined with multi-payment acceptance services appears to be a key business enabler, providing a basis for better customer knowledge and improved consumer experience. Further, it is a prerequisite for large retailers that have the intent to become acquirers of their own transactions.
A central payments platform can simply hide the multi-payment service complexity behind the scene. In addition, it can provide the basis for customer identification verification, purchase validation, upstream/ downstream services and support, seamlessly to the consumer’s convenience.
With these trends in mind, Payments Cards and Mobile collaborated with HPS to review the latest shopping behaviour of consumers, the blurring of previously separate shopping channels, and the payment trends demanded by consumers.
The methodology used in this study is composed of results from recurring market research in the retailer sector, and lessons learned from discussions with key players in the retail sector and in the supporting payments industry.
