Merchants improve bottom line with optimised payments

Maarten Deneer and Atze Faas
Connective Payments, October 2023

Enhancing the Connective Payments proposition for merchants

How merchants can balance the costs and benefits of acquiring payments

Increasingly retailers are looking for solutions that balance the customer experience and control the cost in their payments value chain. On the one hand there is, from a customer’s perspective, the need for a flawless and effortless payment process. On the other hand, there is the need for a solid process for order administration, credit management, reconciliation and fraud prevention. Preferably at the lowest possible cost.

With the increase of sales channels, payment service providers, payment methods and payment volumes, the optimum solution becomes harder to find. Merchants may offer their customers a wonderful customer experience but face high cost in their back office due to unnecessary or costly processes in their office.

Paying at the POS with a Visa card

Acquiring advice for merchants

How merchants can balance the costs and benefits of acquiring payments is where our quick scan comes into play. We can help you identify opportunities to improve the quality of payments operations and at the same time reduce costs. Or to assess the value of any enhancement or new feature you, as a merchant, have already in mind.

With this expansion of our offering, we want to highlight the merchant’s perspective.

The Connective Payments approach to merchant acquiring

All too often merchants are seen as only looking at the lowest cost of transactions. However it is always a balance of customer experience with ‘cost of ownership’ of payments acceptance. A superb customer experience can be unaffordable, a lousy but cheap customer experience isn’t going to work either. We help finding that balance with you as a merchant.

Looking holistically at the current merchant payment activities, we use a Quick Scan to analyse the customer experience to grow the top line, and the payment related internal processes and external costs to grow the margin.

Through interviews, document and contract reviews and data analysis underpinning the Quick Scan, we assess potential areas for improvement including quantifiable benefits for the merchant.

Are you interested? Meet and talk directly to our merchant experts Atze Faas or Maarten Deneer

An experienced partner

We improved the customer experience for an internationally operating company that rents out holiday homes, by introducing more payment methods. However, in such a way that costs remain controlled by tailoring the offer to local markets.

Furthermore, the out-of-pocket costs for a number of payment methods have been reduced by choosing a different payment service provider. A tender process was organised to make the best choice.

Partly as a result of this choice, the costs for an already planned replacement of payment terminals were reduced.

In addition, the costs for charge backs and bad debts were reduced by a different way of offering payment methods and by a different design of the credit management process.

Picture of Maarten Deneer

Maarten Deneer

Connective Payments
Business consultant
+31 622502260

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