Increased Customer Acquisition Ideal Payment Types Russ Jones Payments Consultant Glenbrook Partners www.glenbrook.com
Increased Customer Acquisition - Ideal Payment Types
Nov 11, 2014
You're already selling internationally, but worried that your customers can't sign-up for your service because they don't have access to payment cards. That concern is all too real in today's global eCommerce market.
During this session, we'll have a conversation with Russ Jones of Glenbrook Partners to talk about:
-How merchants can INCREASE CUSTOMER ACQUISITION through support of domestic payment methods.
-Similarities and differences in HOW PEOPLE BUY in various markets around the world.
-Best payment practices for REACHING NEW BUYERS in cash-centric markets.
You'll walk away from this session with a new understanding of how to use payments to increase your customer reach around the world.
To download the audio associated with this webinar, please visit www.vindicia.com to do so.
During this session, we'll have a conversation with Russ Jones of Glenbrook Partners to talk about:
-How merchants can INCREASE CUSTOMER ACQUISITION through support of domestic payment methods.
-Similarities and differences in HOW PEOPLE BUY in various markets around the world.
-Best payment practices for REACHING NEW BUYERS in cash-centric markets.
You'll walk away from this session with a new understanding of how to use payments to increase your customer reach around the world.
To download the audio associated with this webinar, please visit www.vindicia.com to do so.
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Transcript
Increased Customer Acquisition Ideal Payment Types
Russ JonesPayments ConsultantGlenbrook Partnerswww.glenbrook.com
Revenue Revelations – Best practices for the digital economy
Meet The Perceived Customer
Revenue Revelations – Best practices for the digital economy
Meet The Actual Customer
Source: Young, 2011
Revenue Revelations – Best practices for the digital economy
Alternative Payment Examples
Revenue Revelations – Best practices for the digital economy
Alternative Payments Around The World
Source: Worldpay, 2012
Revenue Revelations – Best practices for the digital economy
Merchant Acceptance Example: Brazil
Online Payment Methods Accepted by Top 35 eRetailers in Brazil
Source: Internet Retailer Top 300 Latin America Report, 2012; Glenbrook Analysis
Revenue Revelations – Best practices for the digital economy
Global eCommerce is More Than Cards
International Card Purchase Volume Penetration, 2011
Source: Digital River, Chase Paymentech, Javelin, Glenbrook estimates
Revenue Revelations – Best practices for the digital economy
Common Global Online Payment Methods
Tender Type Definition
International Payment Cards
Branded credit and debit cards from Visa, MasterCard, American Express, Diners Club, JCB and UnionPay can be used globally and are referred to as international cards
Domestic Payment Cards
Domestically issued credit, debit, and prepaid cards operate similar to international cards except they authorize, clear, and settle in the country of issue
Credit Transfers
Consumer “push” money to the merchant; credit transfers are categorized as “offline”, “online”, and “real-time”; a credit transfer is sometimes called a “giro” in Europe
Continued on next page
Revenue Revelations – Best practices for the digital economy
Common Global Online Payment Methods
Tender Type Definition
Direct Debit Pull transaction initiated by the merchant against current funds in the customer’s bank account; formal consumer authorization (if required) is referred to as the “mandate”
eWallets A broad category of domestic, regional, and global alternative payment methods that hide the actual funding source from the merchant
Bill to Mobile Enables consumers to add purchases to their monthly mobile bill; multiple models based on direct carrier billing, premium SMS, and home phone billing
Cash Cash on delivery (COD) and cash on order (COO) are common in certain countries
Revenue Revelations – Best practices for the digital economy
Final Thoughts
Global eCommerce is build around international payment cards
But international card usage varies by market, and is particularly weak in emerging markets
Use of alternative payment methods can provide access to incremental buyers that don’t have cards
Global Payment Service Providers (PSPs) can help implement country specific strategies
Questions?
Email us:[email protected]
Visit us:Twitter: @GlenbrookWebsites: www.glenbrook.com / www.paymentsnews.com
Email us:[email protected]
Visit us:Community: community.vindicia.comTwitter: @VindiciaWebsite: www.vindicia.com
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