Solution Portfolio - Page 69



LEAD THE WAY
Payment teams are increasingly gaining recognition from senior management. Some merchants have even
introduced a Chief Payments Ofcer (CPO), reporting directly into the board. As the Payment function has
evolved, it has become vital to recognise its value and position it correctly within the business to drive success.
Survey ndings show that leaders of payment teams are obtaining more senior levels of leadership within
businesses. However, their actual title depends on the size of the business. 62% of merchants with a revenue
of more than USD 1B have a Business-Unit head, whereas, 57% of merchants with a revenue between USD
500K and USD 5M have a Manager leading their Payment function – demonstrating recognition of the
importance of the function within larger businesses.
Beyond this, not only are leaders of payment teams obtaining more senior leadership positions, they are also
routinely interacting with senior level management. According to our survey ndings, 49% of merchants state
that the person in-charge of payments interacts with the highest seniority level on a weekly basis.
9% 9%
22%
9%
49%
No
Yes, weekly
Yes, fortnightly
Yes, monthly
Yes, quarterly
Yes, yearly
Figure 20: Does the person in-charge of the Payment function
interact with the highest seniority level, in your company? If yes, how often?
The Payment function is still maturing
It is clear from our study that Payment functions are evolving, however, they remain in a period of transition.
New strategies are being implemented but are yet to mature. For example, of merchants who feel that their
Payment function is recognised enough in their rm, 56% have weekly meetings with senior leadership.
However, of merchants who feel that the Payment function is not recognised enough in their rm, only 38%
have weekly meetings with senior leadership. Clearly, there is still a gap between those who are working to
build organisation recognition and those that have it. With this recognition comes increased capability to
augment the Payment function and implement “new” practices to drive the business forward.
The Impact of the Payment Function Today
The Quantitative Insight Into the 7 Habits of Successful “New” Payments Leaders
25

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