Download to read offline
Uploaded byKimberly Rowell
BlueSnap Digital Summit 2019 Seattle
This document discusses how payments are an overlooked but important part of the customer experience. It notes that ecommerce and cross-border payments are growing significantly. Checkout abandonment rates are high due to friction in the payment process. The document advocates for a next generation "all-in-one" payment platform to optimize the customer experience across mobile, global payments, alternative payment methods, and subscriptions in order to increase sales conversion. It provides examples of companies that increased their sales conversions by up to 17% by implementing a frictionless payment experience.
More Related Content
Similar to BlueSnap Digital Summit 2019 Seattle
BlueSnap Digital Summit 2019 Seattle
- 1. Payments: The Overlookedand Underappreciated Customer Experience Super Power John Pleau Director of Sales @JPleau2
- 2.
- 3. VIDEO PLACEHOLDER –EMBED before sending
- 4. AGENDA MARKET DRIVERS FINDINGS& RESEARCH CREATING FRICTIONLESS EXPERIENCES EXAMPLES KEY TAKEAWAYS
- 5. 30% Cross-border 50%+ MobileFueled by $7T in 2017 TheMarket Global B2C eCommerce: >75% Growth by 2020 $4T+ $2.3T in 2018 Global B2B eCommerce: >40% Growth by 2020 $6.7T+ $4.7T in 2018 Sources: Alibaba and Accenture: http://www.alizila.com/cross-border-e-commerce-to-reach-1-trillion-in-2020/ eMarketer, 2016: https://www.emarketer.com/Article/Worldwide-Retail-Ecommerce-Sales-Will-Reach-1915-Trillion-This-Year/1014369 $10.7T in 2020
- 6. Cart Abandonment 85.65%Average shoppingcart abandonment on mobile 69.23%Average online shopping cart abandonment rate Source: Stastica
- 7. 40% Loss in sales Source:Checkout Conversion Index, PYMNTS Checkout Abandonment
- 8. Gateways CONNECTIVITY ONLY Gateways forbuilding your own payment solution Start-up Friendly APIs & MERCHANT ACCT APIs that enable basic, regionally packaged solutions Payments as a Service ALL-IN-ONE A single, feature-rich global platform to accept payments from anywhere from any device Time for the Next Generation GEN 1 GEN 2 GEN 3 1995 2009 2017
- 9. Gateway Payment integrations eCommerceCompany US EU Asia Latin America Billing/Subscription B2B/B2C Invoicing Alternative Payments eWallets Reporting Marketplaces Gen 1 Technology = DIY BEFORE On average Merchants have 5 gateway processors, 4 acquiring banks and accept 6.2 payment types. - Merchant Risk Council
- 10. • Asana –too many fields • Can’t select billing frequency on same screen
- 11. • Patagonia –Extra fields, logos for cards accepted • Both – Apple Pay only show on Mobile
- 12. • Hulu: Simple,clean design • Mobile wallets missing for both
- 13. Creating Frictionless Experiencesfor - Mobile - Global
- 14. eWallets help optimize checkout By2021, over 46% of sales will be made by eWallets 2017 Worldpay Global Payments report 15% Of US shoppers expect PayPal (183M users!)
- 15. 20% of shoppers will abandonif checkout is not in their local language 10% Local currency saves Global Impact on Sales
- 16. 5% Retries & failovers cansave6% Process payments locally to save up to Payments Impact on Sales
- 17. Examples - TwoTypes - Client - Software Platform
- 18. • Single APIwith mobile wallets – increase conversions • Local acquiring connections • Process in multi-currency • Fraud integrated • Subscriptions built-in Autodesk Frictionless subscription checkout with maximized payment conversions +15%
- 19. • Added currencies& payment types to reach global shoppers • Rapid on-boarding • Free Trials • Digital Downloads • Subscriptions Frictionless marketplace payments with maximized payment conversions. +14% Autodesk App Store
- 20. • Global reach •Frictionless, personalized checkout • Failover • Intelligent Routing • Mobile checkout Frictionless global checkout with maximized payment conversions +17% ShopModern
- 21. • Easy integrationwith Salesforce • More B2B payment options (i.e. ACH) • Automate recurring billing • Expand to Latin America White Shark Media Cash flow impact: shortened order to cash timeframe by +50%
- 22. Flexible invoice paymentsfor faster collection times and reduced impact on resources. Armatic • Dynamic invoicing by amount, customer profile • The right payment types • Unique customer facing portal
- 23. Combines disjointed customerengagement to increase likelihood of success. GetAccept • Leverage integrations to eliminate disjointed systems • Streamline the sales process – sell, sign & pay • Global reach • Replace conventional e-signing technology at a fraction of the cost with mobile first, e- signing system
- 24. Expect more from yourpayment provider GEN 3 All-in-One
- 25. 4 Key Take Aways ONOLDER TECHNOLOGY MAKING IT HARD TO INNOVATE? CURRENT SYSTEM FULL OF FRICTION & DISJOINTED? PUT MOBILE OPTIMIZATION ON YOUR ROADMAP ARE YOU SET UP TO SUPPORT GLOBAL CUSTOMERS EFFECTIVELY / EFFICIENTLY?
- 26. Come see usin the Exhibit Hall. Evaluating Payment Vendors: A Workbook for Online Businesses Checkout Conversion Calculator
Editor's Notes
- #8 NOTE: This is due to checkout friction, payment processing declines "Total US retail sales climbed 5.5% during the 2017 holiday season, buoyed by a 17.8% jump in retail ecommerce sales. Both levels represented the largest increases since 2011. Growth will slow slightly in 2018, but will remain solid.""Total US retail sales climbed 5.5% during the 2017 holiday season, buoyed by a 17.8% jump in retail ecommerce sales. Both levels represented the largest increases since 2011. Growth will slow slightly in 2018, but will remain solid.” > Mobile continues to be a driving force for ecommerce growth. US retail mcommerce sales were up more than 40% in Q4 2017, according to comScore Inc. eMarketer expects total US retail mcommerce sales will grow a further 32.7% in 2018. $4.6T in merchandize was left in online shopping carts in 2016 Business Insider
- #16 Personalization stat was 74% feel frustrated when site isn’t personalized