What an All-in-one Payment Platform Means for Commerce & Your Bottom Line
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This document discusses the evolution of online payment platforms and the benefits of modern all-in-one payment platforms. It outlines three generations of payment platforms: early gateways for basic card processing (Gen 1), APIs that enabled regional card processing (Gen 2), and current all-in-one platforms that optimize mobile and cross-border sales (Gen 3). Gen 3 platforms provide built-in functionality for checkout, virtual terminals, subscriptions, invoicing and more. Using these platforms is shown to increase sales and transactions while reducing costs compared to older methods. Key trends in the payment industry like growing mobile and global sales are driving businesses to upgrade to next generation all-in-one payment platforms.
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What an All-in-one Payment Platform Means for Commerce & Your Bottom Line
- 1. What an All-in-one Payment Platform Means for Commerce & Your Bottom Line Joe Twer Sales Director
- 2. • Early 1970s – Visa & MC started accepting with Mail Order & Catalog sales • 1991 – World Wide Web is open for public use • 1994 – Stanford Federal Credit Union established Online Banking • 1994 – Controversy over 1st consumer tx – Sting CD v. Pizza Hut • 1995 – Netscape developed original SSL protocols • 1995 – Amazon & eBay ecommerce sites launched • 1998 – Paypal is founded • ….fast forward to today Brief History of CNP Transactions
- 3. 30% Cross-border 50%+ MobileFueled by $7T in 2017 The $10T Market is Driving the Next Generation Global B2C eCommerce: >75% Growth by 2020 $4T+ $2.3T in 2017 Global B2B eCommerce: >40% Growth by 2020 $6.7T+ $4.7T in 2017 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
- 4. eWallets help optimize checkout By 2021, over 46% of sales will be made by eWallets 2017 Worldpay Global Payments report
- 5. Is your checkout localized? Frictionless? Are you selling globally today? How many currencies? Payment types? Is your eCommerce framework complicated? Can you innovate?
- 6. Complicated Checkout eLemonade Stand
- 7. 1995 Gateways CONNECTIVITY ONLY Basic gateways for card processing ($100 Million) Start-up Friendly APIs & MERCHANT ACCT APIs that enable regional card processing ($135 Billion) 2009 Payments as a Service ALL-IN-ONE Built-in functionality and integrations to optimize mobile & cross-border sales ($10 Trillion) 2018 Time for the Next Generation GEN 1 GEN 2 GEN 3
- 8. All-in-One Payment Platform to Deliver Payments as a Service Online & Mobile Checkout Virtual & POS Terminal Payments for Platforms & Marketplaces Subscriptions Invoices
- 10. Gateway Payment integrations eCommerce Company US EU Asia Latin America Billing/Subscription B2B/B2C Invoicing Alternative Payments eWallets Reporting Marketplaces Businesses are still using Gen 1 technology BEFORE
- 11. Gen 3: All-in-One Payment Platform AFTER All-in-One Payment Platform eCommerce Company
- 12. Reduce your costs Increase your revenue What does Gen3 look like?
- 13. 38%Transactions up 55%Average ticket increased 114%Mobile wallet spend up Mobile Wallet Data
- 14. Global Key Trend Data 81%of merchants selling globally 53%of merchants are boarded to multiple acquirers 35%increased local payment types
- 15. Key Trends Data 68%selling and supporting multiple ways to accept payments 80%have had multiple gateways, platform integrations and inconsistent checkout flow 80%CNP Fraud losses are projected to soar by 2020
- 16. 27%subscriptions increase 35%offering additional eWallets (Apple Pay, VC, MP, not including PP) 65%more B2B payments than last year (invoices, VT) Key Trends Data
- 17. Collect payments faster with a Payment Link embedded in your invoice. Pay easily on your mobile phone
- 18. Payment Analytics Sales Intelligence Payment Conversion Reporting Fraud ReportReconciliation Accessible via API, APP, Portal
- 19. Shopping Carts Accounting Risk Tools CRM / ERP Marketing & Sales Shipping & Taxes Education & Events All other verticals
- 20. 10-15% 5-15% 1-5%Large $250m + Medium $10m - $250m Small Up to $10m The Results Sales Growth Rate Reduced IT Spend
- 21. Expect more from your payment provider GEN 3 All-in-One
- 22. Q&A Download the Payment Processing KPI Library: bit.ly/blueKPI Joe@getbluesnap.com @BlueSnapInc @JoeTBuyNow
Editor's Notes
- Global 53% use credit cards, Then digital payment 42%, debit cards 38%
- Speaking of mobile. WorldPay released tehir global payment report a few weeks ago and they are saying that by 2021, over 46% of sales will be made by eWallets. That will be larger than Credit cards. eWallets help optimize checkout and with mobile growing and more and more people buying on their phones they are demanding that we offering these payment options.. We think it is important to be able to offer as many as your shoppers demand. So using a payment platform that has these wallets already built in is going to save you time and money. ADD Cyber Monday Data – US only $2B… POLL: Are you accepting mobile wallets today? Yes, No.
- Payments complexity – slows innovation and your time to get paid!
- Payments complexity – slows innovation and your time to get paid!
- Cyber Monday data – record online sales – mobile is driving factor, we are seeing it everyday across our client base, mobile wallet spend is up 114% - higher auth, trust, amounts and lower friction, declines
- Over 80% of Our customer-base is engaging on global payments projects – so critical to have the right currencies, payment types across EU and LATAM Creating a global solution 81% of merchants selling globally 53% of merchants are boarded to multiple local acquirers Local payment types increased 35%
- Consolidation is key – remember – GEN3 is about reducing your costs, not falling into the trap of additive interfaces. Again 80% of our client base is doing just that – converting off combined Gen1/2 gateways to Gen3
- B2B is growing but evolving. Speed of Order to Cash, subscription economy and diff payment types 27% Subscriptions increase 35% offering Mobile Wallets (Apple Pay, VC, MP, not including PP)
- 35% are adding alt payment types for streamlined Gen3 approach
- Creating a global solution 81% of merchants selling globally 53% of merchants are boarded to multiple local acquirers Local payment types increased 35%
- In addition, a Gen3 solution will have partnerships and pre-integrated connectivity across all of the key software providers that power the shopping carts, accounting and CRM, etc.
- You should expect more from your payments provider. Should provide guidance, analytics and reporting to help you optimize your checkout experience and acquiring set up for higher conversions. Checkout & payments (Us & Kount)