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Sagepay Online Payment trends
Sagepay Online Payment trends
Sagepay Online Payment trends
Sagepay Online Payment trends
Sagepay Online Payment trends
Sagepay Online Payment trends
Sagepay Online Payment trends
Sagepay Online Payment trends
Sagepay Online Payment trends
Sagepay Online Payment trends
Sagepay Online Payment trends
Sagepay Online Payment trends
Sagepay Online Payment trends
Sagepay Online Payment trends
Sagepay Online Payment trends
Sagepay Online Payment trends
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Sagepay Online Payment trends


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Statistics & technology in world of online payments

Statistics & technology in world of online payments

Published in: Business, Economy & Finance
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  • 1. Screenpages Client Day, Sage Pay Jenny Homer
  • 2. Agenda
    • Leveraging the latest trends in online Payments
      • Cross channel and mobile
      • Social commerce
      • Tokenisation
      • Sneak peak at our e-benchmark Study results
    • Payments Card Industry Data Security Standard
  • 3. Sage Pay credentials
    • UK’s fastest growing Payment Service Provider (PSP)
    • Acquired by Sage Group PLC in 2006 and re-branded to Sage Pay 2009
    • 33,000+ customers growing at 600+ customers per month
    • Over 10 million transactions processed each month, over 1.1 Billion transactions per year
    • PCI level 1 compliant / member of PCI SSC
    • UK based 24/7 customer support
  • 4. Where do we fit?
  • 5. Latest trends in payments
    • The major focus of the internet retailer is, and will be next year: Mobile Commerce , Social Commerce, International …
    • “ Mobile is no longer a gadget, it's what our IT will become"  IBM
    • By 2015 mobile will level out at about 15% of the ecommerce market
  • 6. Latest trends in payments
    • Customer shopping patterns are changing and we talk about Channel Convergence , namely that...
            • customer touch points are exploding in terms of sales/revenue
            • this is customer driven
            • particularly driven by mobile
            • - customers have higher expectations
  • 7. Social Commerce
    • An increasingly critical customer touch point
    • Not just a marketing tool but now a sales tool
    • Customers now keen to buy directly from Social Networking sites
    • Study conducted by Dublin City University found that a facebook ‘Like’ doubles the willingness of a person to buy from a facebook store
    • Trust was very important too. 20% of respondents indicated that security concerns were a reason for not buying, while 82% of people trusted a friend’s recommendation over company advertising.
  • 8.  
  • 9. Latest trends in payments
    • As a payment gateway we don’t differentiate between transactions that come from a mobile, a social networking site or a desktop computer
    • Important to consider usability and data collection on your payment pages
    • We recommend tokenisation here to streamline the check out and boost conversion
  • 10. Sage Pay eBenchmark study 2011
    • Takes a close look at:
      • Factors that contribute to making e-commerce a success,
      • why visitors drop out of a purchase and
      • how to avoid these pitfalls in order to maximise conversion rates
    • We took this information and compiled a report to enable businesses to see how they compared to others in their sector
    • We are in the process of collating our findings from this year’s survey but can offer you a sneak peak today….
  • 11. What did it reveal about mCommerce?
    • Mobile apps remain largely untapped channel. Only 5% already have an app, but there is significant interest in the technology
    • Growth is being led by bigger businesses. 13% of businesses with over 5000 transactions have an app versus 4% of smaller businesses
    • 29% of all respondents claim they are planning to develop an app - 57% of businesses with more than 50 employees plan to develop apps and 28% of smaller businesses
            • Jury is still out for more than a quarter (27%) of businesses who don’t see the relevance of the technology to their business, but for the biggest percentage (45%) it’s simply a lack of time that is stopping them from developing an app
  • 12. … Overseas expansion?
    • More than half of businesses (56%) already trade in overseas territories , with the main focus on European countries and English-speaking markets like the US
    • Trade in China remains an emerging territory with one in ten respondents trading in the territory
    • Processing different currencies remains one of the biggest challenges for businesses that expand overseas , alongside operating in a different language – Of those who operate in overseas markets, a majority (68%) do not accept transactions in foreign currencies
  • 13. Do you trade overseas, and if so, do you accept foreign currencies?
    • Does your business currently trade overseas?
    • If you do trade overseas, do you accept foreign currencies?
  • 14. Face your PCI demons
    • PCI has given the ecommerce marketplace a comprehensive data security standard to work to
      • – designed as a framework to help in the prevention, detection and appropriate reaction to security incidents
    • PCI compliance is not yet a legal requirement - only one third of online businesses fully adhere to PCI DSS regulations
    • But it’s important to understand the risks of handling card data
            • Card Schemes are able to award potentially unlimited fines
            • Reputational impact on your business of a breach
  • 15. And beat them…
    • A few guiding principles:
            • Regulatory requirements will become more stringent as your business grows - needs constant monitoring!
            • Ask for help - ‘What is the best firewall in the business?’ ‘Which encryption service should I use?’
            • Use a Payment Service provider with certified PCI DSS Level 1 compliance , to collect, store and transmit card data on your behalf – outsource!
  • 16. Thank you!
    • Jenny Homer , Partner Channel Exec
    • 0208 685 3324
    • [email_address]
    • Twitter: @jenny_homer
    • The Sage Pay team available to chat…
    • From the Sales Team… Rob McEwen, Chris Ross
    • From Business Development… Martyn Boddy