How to Build a Payment System

that Supports and Enhances Your Response

Channels

Brian Weekes

VP International DevelopmentPacNet Services Ltd.

Multi-Channel / Cross Channel

Channels = ChoicesThere are ever more new and innovative ways to reach more customers in more places.

•Make it easy for each consumer to use their preferred ways of research and response

•Be wary of falling into ‘silo behaviour’ for any aspect of your business – including payment.

Are you with me?

• Deliver a clear message across channels with consistent pricing and levels of service.

• Share information from multiple channels to develop a true portrait of your customer.

The Pitfalls of

Silos

• Silos create an atmosphere in which your valuable customer information exists in a vacuum

• Silos create a one dimensional view

• Your investment doesn’t truly pay off if you cannot create a full portrait of your customer

How do you reach your customer? How does your

customer reach you?

• Consider: - catalogue has been mailed 4 seasons, but you haven’t received a single order by mail from Jenny Arborly.

- Jenny Arborly loves browsing your catalog, and is inspired to check out your offers online! Don’t stop mailing – she’ll stop visiting your website!

Integration

• Goal is to bring all channels together for a fluid, seamless offering.

• Spend time coordinating your marketing channels for better results.

• Continue mailing to all your customers and be diligent about matching back to source codes.

Response Channels

• Each channel merits its own response device – but leave an an element of choice.

• Reduce operational costs by sharing payment channels across different response channels.

Understand Payment Preferences for each Response Channel

• Internet sales, Telephone Sales - credit card processing, direct debit

• Mail Response – cheque, credit card and postal order

• Modern Catalogue sales – expect response by phone and mail and internet

Build Your Payment System

• How will you handle each type of order?

• Access the resources you require to incorporate each payment method.

• Give yourself lots of time prelaunch to implement and test your payment system.

Put Your Payment System to Work

• Data tokenization can help you to create customer profiles

•With data tokenization, you don’t need to store payment details

•Assists with PCI compliance; you are not coming into contact with sensitive card data

• Another benefit is that you can save customer information with the token number as a reference

• For example, a customer shops online and pays by credit card, you could save the customer information across multiple silos. Instead of viewing this customer through the lens of the online channel you can now create a more comprehensive picture across all channels.

A Holistic View of Your Customer

By viewing your customers through an integrated lens, you can market to each individual much more effectively.

True integration spells big rewards

• Monitor activity across all channels

• Interpret customer’s buying habits and streamline your campaigns in response

• Work smarter, not harder – these strategies directly affect the bottom line

Thank You!

Brian Weekes, PacNet Services Ltd.Brian@PacNetServices.com

TFM&A Stand F42

Photo credits: “Silos” by Thing Three