Solution Portfolio - Page 109



HOLISTIC VIEW
All things are of secondary importance if a customer is unable to make a payment
to complete a purchase. There could be several reasons. It could be an operational
hitch; the customer’s preferred payment method is unavailable; the customer does
not have the means to afford the purchase or, the customer does not feel
comfortable due to security or privacy concerns with the retailer’s website. All
these issues mean lost revenues for the merchant and carry negative connotations
for the merchant’s brand.
Payments Managers think that it is crucial to be proactive and develop initiatives on
their own that would achieve corporate growth objectives.
Bilal El Kouche from Vente-privee recalls how the
Payments team at the company demonstrated
leadership responsibility by obtaining investment from
the Board by providing a commitment to deliver
results. They delivered well over expectations. This
positioned the Payments Team in a front-line role in
the company’s drive for growth.
They also mention that when they discovered their
conversion rate for items above € 1,500 was less than
expected, they began to offer payment by instalments
which resulted in a 30% increase in sales in the
category.
Successful Payments Managers share a common characteristic with corporate
leaders. They think from the customer’s point of view.
The 7 Habits Of Successful “New” Payments Leaders
Best practices and insights by industry front runner
29

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