A Snapshot of Payment Acceptance and Security
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A Snapshot of Payment Acceptance and Security
- 1. 1 A Snapshot of Payment Acceptance & Security in HE/FE @WPMEducation
- 2. WPM - An insight into HE/FE Customer Expectations 2 June, 2015 2 THE TOP 5THAT ACCEPT PAYMENTS Payment Methods Accepted DynamicCurrency Conversion(DCC)Offline DynamicCurrency Conversion(DCC)Online JCB Diners UnionPay,Offline UnionPay,Online AliPay(Chinese PaymentSystem) OverseasBankTransfer (e.g.WesternUnion) Other Methods 100% 0% 50% Accept Don’t Accept (Considering) Don’t Accept (Unaware) Don’t Accept (Not Considering)
- 3. WPM - An insight into HE/FE Customer Expectations 2 June, 2015 3 Relative Importance of Payment Factors Somewhat Important Important Critical Very Important N/A Payer Demographics Geographic Audience Legislation &Compliance TransactionCosts StaffCosts RevenueGrowth Student&Payment Experience Debtors 100% 0% 50%
- 4. WPM - An insight into HE/FE Customer Expectations 2 June, 2015 4 Top 3 Current Payment Factors 2015 2015 2014 2014 78% 74% Student & Payment Experience Legalisation & Compliance Transaction Costs 62% 60% 41% Other Payment Factors Payer Demographics Geographic Audience StaffCosts Revenue Growth Debtors 100% 0% 50% 44%
- 5. WPM - An insight into HE/FE Customer Expectations 2 June, 2015 5 Planning To Change/Review Acquirer 2015 2014 1 Year 2 Years 3 Years 4 Years 5 Years +5 Years 35% 27% 18% 24% 7% 12% 2.7%2.5% 2%2.5% 6%5.4%
- 6. Payment Acceptance Strategy WPM - An insight into HE/FE Customer Expectations 2 June, 2015 6 2015 2014 Are You Developing One? No (not of interest /relevance) No (not had time/resource) No (but planning to) Yes (significant progress made) Yes (but early days) 0% 25% 50%
- 7. PCI DSS Compliance WPM - An insight into HE/FE Customer Expectations 2 June, 2015 7 Is there a formal programme or project to ensure PCI DSS compliance and/or payment security is implemented correctly in your institution? Less than 10% said no, not planning to, or were unsure 78% 21% 18% 2014 12% 2014 Yes (currently or shortly) No (but planning)
- 8. PCI DSS Compliance WPM - An insight into HE/FE Customer Expectations 2 June, 2015 8 Is How far along your compliance journey are you (PCI DSS or otherwise)? 100% (Compliant) 76-99% 51-75% 26-50% <= 25% 0% (Not started) 2015 100% (Compliant) 76-99% 51-75% 26-50% <= 25% 0% (Not started) 2014 The market has not changed much over the past year and under 20% are 100% compliant
- 9. 9 A Snapshot of Payment Acceptance & Security in HE/FE @WPMEducation