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The World is NOT Flat: Navigating the Digital Payments Ecosystem

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Accepting payments online is filled with many components and hurdles. Whether you have an established digital business or are just starting your venture, navigating the digital payments ecosystem is a challenge.

This webinar shares common missteps digital businesses make in their payments strategy, and offers simple solutions to correct them. You'll learn:

-The levers that can make (or break) the billing process
-How to actively manage your risk and maximize retention
-Ways to leverage payments technologies to optimize your business
-The operational side of payments management

To hear the audio associated with this webinar, please visit our website: http://info.vindicia.com/Archived-Webinars-Payments-Ecosystem.html

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The World is NOT Flat: Navigating the Digital Payments Ecosystem

  1. 1. The World is NOT Flat:Understanding thePayments EcosystemAdam HollisGM, eCommerce ConsultingW. Capra Consulting Group
  2. 2. Revenue Revelations – Best practices for the digital economyThe World is NOT FlatFor a long time the payments process has beenviewed as a linear, one-dimensional process.• There is an authorization followed by a deposit.• My Customer buys something, I get paid. (lessfees, of course)• Anything else?
  3. 3. Revenue Revelations – Best practices for the digital economyThe World is NOT FlatThis linear, one-dimensional view of payments hasevolved and now looks more like this……and that doesn’t even include fraud screening.PCI ComplianceMobile SolutionsChargebackManagementAlternative PaymentsRecurring BillingInterchangeManagement
  4. 4. Revenue Revelations – Best practices for the digital economyThe levers that canmake (or break)the billing processNavigating the Digital Payments Ecosystem
  5. 5. Revenue Revelations – Best practices for the digital economyLevers that can make (or break)the billing processCommon Mistake #1You are not using industry standard tools likeaccount updater, and if you are, you probablyaren’t optimizing their use.
  6. 6. Revenue Revelations – Best practices for the digital economyLevers that can make (or break)the billing processCommon Mistake #2You are shutting off or denying accessto your customer too soon.
  7. 7. Revenue Revelations – Best practices for the digital economyLevers that can make (or break)the billing processCommon Mistake #3You are recycling your authorizations,but without sound supporting logic orpractices.
  8. 8. Revenue Revelations – Best practices for the digital economyHow to actively manage yourrisk and maximize retentionNavigating the Digital Payments Ecosystem
  9. 9. Revenue Revelations – Best practices for the digital economyActively manage your risk andmaximize retentionCommon Mistake #1You aren’t managing your risk…at all.
  10. 10. Revenue Revelations – Best practices for the digital economyActively manage your risk andmaximize retentionCommon Mistake #2You wouldn’t use a garden hose to put out ahouse fire. You shouldn’t rely solely on CVV tosolve your fraud problem.
  11. 11. Revenue Revelations – Best practices for the digital economyActively manage your risk andmaximize retentionCommon Mistake #3Not monitoring where your customers arecoming from, allowing you to tie losses (fraudand chargeback) to the source of the sale.
  12. 12. Revenue Revelations – Best practices for the digital economyWays to leverage paymentstechnologies to optimizeyour businessNavigating the Digital Payments Ecosystem
  13. 13. Revenue Revelations – Best practices for the digital economyLeverage payments technologies to optimizeyour businessCommon Mistake #1Blindly deciding to build everything yourselfwithout the due diligence process.
  14. 14. Revenue Revelations – Best practices for the digital economyLeverage payments technologies to optimizeyour businessCommon Mistake #2You aren’t leveraging readily available (andcheap!) tools like Account Updater and CVV.These are cost effective and easy toimplement.
  15. 15. Revenue Revelations – Best practices for the digital economyLeverage payments technologies to optimizeyour businessCommon Mistake #3Time and money - when you have one youseldom have the other.Outsourcing requires the same decisionprocess.Use your resources when you have thetime, spend the money when you don’t.
  16. 16. Revenue Revelations – Best practices for the digital economyThe operational side ofpayments managementNavigating the Digital Payments Ecosystem
  17. 17. Revenue Revelations – Best practices for the digital economyThe operational side of paymentsmanagementCommon Mistake #1Too many (or not enough) staff managingchargebacks.
  18. 18. Revenue Revelations – Best practices for the digital economyThe operational side of paymentsmanagementCommon Mistake #2You aren’t regularly examining your refundpolicies. These policies impact conversion,retention, chargebacks, call center, negativepress, etc.
  19. 19. Revenue Revelations – Best practices for the digital economyThe operational side of paymentsmanagementCommon Mistake #3You are not evaluating your paymentprocessing options regularly to ensurecost containment.
  20. 20. Revenue Revelations – Best practices for the digital economySummary PointsIndustry standard tools like Account Updater andCVV can retain customers and save you $$.Leverage your data to optimize your paymentprocesses.Take the time to evaluate the time vs. moneyequation. Don’t be afraid to use one when youdon’t have the other.
  21. 21. Revenue Revelations – Best practices for the digital economyContact InfoAdam HollisGeneral Manager, eCommerceW. Capra Consulting GroupAhollis@wcapra.comT – 617.319.5343
  22. 22. Questions?Email us:webinar@vindicia.comVisit us:Blog: blog.vindicia.comCommunity: community.vindicia.comTwitter: @VindiciaWebsite: www.vindicia.com

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