Merchants Payment Consulting
Key Payment Expertise for Merchants.
Merchants are facing continuously challenges with online payments due to payment checkout abandonments, fraud and chargebacks, new compliance and regulatory requirements (such as PSD2 and SCA), new leading local payment methods and so on.
An inefficient payment and risk management setup can:
◦ Negatively affect your customer experience
◦ Become very costly due to fraud and chargebacks
◦ Lead to loss of revenues due to payment checkout friction
Recent years have shown that customer is more and more expecting smooth payment checkout and an easy-to-pay experience. The COVID-19 pandemic has additionally dramatically accelerated online payment volumes and many merchants need now to scale up and have additional internal resources dedicated to payment management. According to Statista, online payments in the European region are expected to reach more than 1 trillion USD by 2023.
This massive increase in online transactions brings many issues for merchants in finding the right people with the right skill set and knowledge.
At Payment-Universe we are a team of payment consultants who can assist you with the most challenging payment topics thanks to extensive experience in working with more than 100 merchants from retail, digital, travel and mobility verticals.
Based on our experience we can assist merchants with:
Digital Commerce Europe volume forecast
Source: Statista 2021.
Merchants face often challenges in improving their conversion rates and reducing their transaction costs. We have a consolidated framework that covers:
◦ Decline reason code analysis
◦ Authorization retry strategies
◦ Checkout payment flow improvement
◦ Mobile and UX experience optimisation
◦ Transaction costs optimisation
◦ Vendor Management ( Contractual optimization, RFIs, RFPs, Payment Gateway relationship)
An inefficient risk management setup can cause false declines or high fraud volumes, We provide you guidance to minimise fraud and chargebacks with:
◦ Merchant fraud prevention strategy review
◦ Third Party fraud prevention tool selection and setup
◦ Interim risk & fraud team management
◦ Chargeback performances & process optimisation
◦ Risk & Fraud Management training and education
The European Payment Service Directive 2 (PSD2) and online payment authentication such as 3D Secure can massively impact your business performances demanding constant monitoring and internal expertise.
At Payment-Universe we have 360 degrees of knowledge about payment authentication solution, we can strategically guide you, with our SCA Consulting knowledge on:
◦ Fully understand PSD2 SCA & 3D Secure 2 (3DS2) authentication options and mitigation strategies
◦ Evaluate advanced authentication possibilities such as Delegated Authentication with FIDO
◦ Choose the right partners and solutions, evaluate the usage of third-party 3DS Servers or Payment Gateways for 3D Secure authentications
Due to the increased demand about SCA setup optimisation, we have created a specific framework to assist merchants in reviewing their PSD2 SCA setup to mitigate as much as possible the risk of transaction cart abandonment.
Working with PSPs and Merchants we have seen that one of the biggest issues in the payments world is to understand how an online merchant performs vs the online payment market benchmark. That is why we have created our advanced Data Analytics Suite to offer the possibility to benchmark merchant performances and/or outsource payment management optimisation to our team of experts. As a merchant you would benefit from:
◦ Advanced KPIs for a very detailed performance monitoring to optimise your transaction conversion rates
◦ Payment performance benchmarking based on processing country, Merchant Category Code (MCC), Payment Methods, Payment Gateways and much more
◦ Payment and Risk Management expertise and insights about merchant, payment service providers and issuer best practices;=
Learn more about “Your Payment Manager” service and how you can start to quickly optimise your payment conversion.
Nowadays merchants have the possibility to offer very innovative and tailored payment experiences. We have been involved in several innovative products and we can support the full design and launching of:
◦ Digital Wallets
◦ Physical and Digital-Only Card Issuing
◦ E-com in-store payments
◦ White-Label instalment solutions
◦ Loyalty and Customer oriented Value Added Services
◦ Open Banking ( Payment-Initiation Service) solutions
Expanding into new markets requires some efforts and the right payment setup could become a critical aspect. We support you with:
◦ Local Payment methods selection and implementation
◦ Selection of local payment gateways/acquirers