This one of the lightest loads a business leader can take on as far as decisions go. Once you look at some fees and rates, then it's easy, right? If it's not obvious, the answer is – wrong. There is a much deeper place for payment systems strategy to play in your business that go beyond fees and rates.
Security, privacy, vendor relationships, recurrability, micro payments, and embedded payments: these are just some of the great topics I covered with Alan. COVID19 has pushed innovation at feverish pace not seen for a long time; not just becuase innovation usually leads to great things, but more because of necessity to survive.
Customers, suppliers, and partners already feel that their relationship with you, their chosen businesses needs to have a digital life. But not just a digital life – it's a digital relationship and it goes beyond putting something in a shopping cart and clicking pay.
My guest today is Alan Cacic from Global Payments, one of the global leaders in payment processing on and offline; we spent the better part of an hour discussing making decisions on taking payments on and offline, the busienss decisions behnd that as well as the technical decisions and opportunities you may not know exist. It's Everything-you-wanted-to-know-about-taking-payments-online day today on digBiz.
Some markers you may want to jump to :
05:00 : Finding opportunity in new payment models to boost revenue and saving on costs
06:20 : The era of the pandemic. How can businesses respond? It's a global response all at once.
10:00 : Consumers are spending their purchase journeys looking to focus their buying habits
12:40 : B2B is finding its own evolving model separate from B2C
14:00 : Are you transacting with customers only, or businesses as well? Should you be looking at split funding?
17:00 : B2B decision makers are a lot younger and more digital than you realize. So are their motivations.
20:00 : B2B buying experience and workflow cannot be treated like a poor cousin of B2C
28:00 : Shipping process automation can be embedded into a conversion strategy
29:30 : Frictionless; how does this make customers feel?
32:00 : Biometrics and advanced personal verification; blurring physical presence for small day-to-day and large payments such as automotive
34:00 : AI enabling is already building confidence in payment management for consumers, businesses, and merchants
39:00 : Increase the value your people in your process: staff, customers, vendors, and fans through enhanced digital customer journeys
43:20 : Security in payment processing is constantly improving; fraud, chargebacks, and risk management; it's about the confidence, stupid
48:00 : Be that trusted advisor to your customers; it's a culture thing to bake into your company
50:30 : ECommerce first. Pandemics or not, ecommerce should now be central to your sales strategy.
52:00 : All businesses, including large Enterprise, needs to use payment processing models as part of a customer engagement innovation strategy
Join us, and listen in on digBiz with Alan Cacic.
iTristan Media Group
digBiz Episode 12 | Alan Cacic on Innovation and Customer Experience in B2B and B2C Payments Online