Omni-channel Strategy Series: Mobile Payment (PowerPoint PPT Slide Deck)

This PPT slide outlines a framework for assessing an organization's maturity in mobile payment solutions, categorized into 5 distinct stages: Entry Level, Developing, Performing, Advanced Functionality, and Leading. Each stage highlights specific characteristics and capabilities related to payment processing.

At the Entry Level, organizations lack a defined strategy for payment solutions, offering only a single payment type. This stage indicates a fundamental gap in functionality. As companies progress to the Developing stage, they begin to establish basic functionalities, such as evaluating payment solutions based on costs and providing multiple payment options. However, the approach remains somewhat rudimentary, focusing on cost tracking and negotiations.

The Performing stage represents a more sophisticated understanding of customer needs. Organizations here implement well-thought-out payment solutions that positively impact customer experience. They allow customers to purchase, receive, and inspect products before payment, reflecting a shift towards customer-centric practices. This stage also emphasizes the establishment of KPIs and benchmarks to monitor payment processing effectiveness.

In the Advanced Functionality stage, organizations further refine their payment solutions, ensuring they align with customer desires and operational efficiency. This includes optimizing spending on payment solutions and exploring additional options to enhance customer experience.

Finally, the Leading stage signifies an organization that has achieved industry leadership in mobile payments. Here, payment solutions are customer-focused, optimized for cost, and encompass all major payment types. The organization actively seeks to stay ahead of market trends, ensuring they remain competitive and responsive to customer needs.

This structured approach provides a roadmap for organizations aiming to enhance their mobile payment capabilities, ultimately driving sales and improving customer satisfaction.

This PPT slide outlines 5 key trends in mobile payments that have emerged to meet the needs of the omni-channel customer. The trends include the use of e-payments for quick transactions, managing parts of the payment processing in-house, cost-effective payment solutions, cloud-enabled payments, and secured payment solutions. Each trend highlights a strategic shift in how businesses are adapting their payment systems to enhance customer experience and operational efficiency.

The first trend emphasizes the growing reliance on e-payments, which streamline transactions and cater to consumer demand for speed and convenience. The second trend suggests a strategic move towards in-house management of payment processes, which may lead to greater control and reduced dependency on third-party providers. Cost-effective solutions are crucial, as businesses seek to minimize expenses associated with payment processing while maintaining service quality.

Cloud-enabled payments represent the fourth trend, indicating a shift towards more flexible and scalable payment systems that can adapt to varying business needs. Finally, the focus on secured payment solutions reflects an increasing priority on security, addressing consumer concerns about data protection and fraud.

The slide also identifies opportunities for optimizing the payment portfolio. It suggests negotiating better credit terms with payment providers to lower costs, implementing various payment solutions to enhance customer flexibility, and evaluating how payment options can generate revenue. Additionally, reviewing current spending on payment solutions can help assess the profitability of developing proprietary invoicing systems.

Overall, this slide provides valuable insights for organizations looking to refine their mobile payment strategies in a rapidly evolving market. Understanding these trends and opportunities is essential for staying competitive and meeting customer expectations.