Solution Portfolio - Page 101



PAYMENT IS AN EMOTIONAL EXPERIENCE
Merchants told us they take into account the emotional dimension of the payment
experience. A problem encountered in completing an online payment can have
signicant and long-term negative impacts on customer loyalty.
Consider this: a buyer excited by the product they want, such as the perfect
holiday, the last available ticket for a popular concert, or an amazing time-sensitive
deal, is looking forward to completing the transaction.
If the payment does not go through and they lose the chance to secure their prize
they are likely to be greatly disappointed with the retailer and unlikely to return.
There is sufcient choice these days and the customer will, in the future, prefer to
buy from an alternative seller. The negative brand equity that a simple payment
hitch can create can take a long time to erase, if at all.
Inditex provides an example of a merchant that has recognized the
impact of payments on the brand and on the customer experience:
payments is perceived
internally as a strategic
topic, as a way to support our
brand. For instance, we decided to
prioritize initiatives such as Apple
Pay to support our brand and the
customer experience, and not for
an immediate nancial ROI”
David Redmond
Payments Manager at Inditex
The 7 Habits Of Successful “New” Payments Leaders
Best practices and insights by industry front runner
21

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