Effectively managing payments can have a substantial impact across both the top and bottom line of any business. However, with the speed of technological advancements and market dynamics, staying updated with the latest trends in payments can be a daunting task. This is where payment consulting services come into play. This is a relatively new field in payments, which few industry players can provide.
Payments consulting is a service performed by a global team of experts, offering advice on how to optimise payment processes and the online buying experience while at the same time optimising costs and driving new revenues.
At Worldline, we’ve been providing these types of services for several years – and we’ve recognised an underlying demand for an enhanced and bespoke service to help maximise revenue growth while optimising online payments’ processing costs. We have also seen first-hand that this type of service yields valuable results. Aiming to improve on the legacy ‘plug and play’ approach prevalent in the industry, businesses can gain a competitive edge, ensuring they stay ahead in an increasingly dynamic market.
Working closely with customers, we’ve identified three disciplines where payments consultants can make a difference:
Here a team of consultants create a frictionless customer journey to improve the online consumer checkout experience and implement the best practices from the industry of the customer. A team of skilled consultants keeps customers up to date with the latest market trends and invites them to join innovative product pilot programmes to stay ahead of their peers.
This is one of the most important KPIs in our industry. A team of experts dive deep into our customers’ payment data and analyses the merchants accounts setup, credit card BINs, rejection codes, and other data points to improve payments performance. Consultants can benchmark the performance with other players in the same industry and leverage on the data from all the different stakeholders in the online payments value chain to maximise the authorisation rates.
This service allows merchants to price goods and services in foreign currencies (more than 150), while continuing to receive settlement and reporting in their home currency. This can also include value-added services like guaranteed FX and tailored consulting services.
By utilising the combined abilities and expertise of these three teams, customers benefit from the best industry practices which significantly increase online revenues. Adopting a blended approach of the best software technologies available and highly skilled payments experts enables a payments consultancy team to be close to its customers throughout their strategic journey, helping them to expand into new geographies and advising on local practices and regulatory challenges.
Early indications suggest that this approach can help businesses improve authorisation by up to 10% depending on the industry and region, leading to a decrease in chargebacks, fraud rejections, and 3D-Secure (3DS) errors.
Within payments, add-on consultancy services have typically been offered in a very transactional fashion with the express aim of selling additional products. Our approach to consulting services is very different. We think adding a bespoke, value-enhancing layer on top of existing customer support can optimise the way customers operate and therefore increase revenue and profitability. By combining industry expertise, advanced technologies, and a deep understanding of payment processes, businesses can take the next step in payment optimisation and find new business opportunities.
Matias joined the company in 2010 to launch Global Collect in Latin America, focusing on digital commerce and intelligent payments. As VP of Consulting Services since 2021, he oversees ecommerce, FX, and payment analytics. Previously, Matias founded and led Business Minds, consulting for major companies like Microsoft, Red Hat, and Adobe. He also held sales and marketing roles at Oracle, advised entrepreneurs through the Endeavor Foundation, and served as an advisor to the ECLA programme at Columbia Business School. With extensive multicultural experience, he holds degrees in Systems Engineering, Business Administration, and an Executive MBA from Torcuato Di Tella University in Argentina.
Worldline helps businesses of all shapes and sizes to accelerate their growth journey – quickly, simply, and securely. With advanced payment technology, local expertise, and solutions customised for hundreds of markets and industries, Worldline powers the growth of over one million businesses around the world. Worldline generated EUR 4.4 billion in revenue in 2022.
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