Leverage digitisation to secure and develop your payment business

Digitisation, the business fertiliser for banks and merchants

In an increasingly digitised world, with ever more performant network infrastructures, consumers equipped with smart devices are hyper connected. Today, 28% of the world population is equipped with a smartphone and it is expected to continue growing. Free from time and space constraints, people expect a homogeneous user experience, enabling them to interact with you at home or on-the-go and creating new touchpoints. Implementing mobile applications or wallets improves interaction with your customers and allows you to catch all the digital moments of their lives.

Besides, the flourishing online business is another way of increasing your revenues. But, reaching a global audience entails dealing with locals needs in terms of payment means and consumer habits. Partnering with payment service providers with local knowledge and connections is then the best time to market a way to reap the benefits of this situation.

Digitisation also increases the data volumes of the ecosystem. They allow you to better understand your customers’ behaviours and preferences. As such, you can adapt your communication and your loyalty programs to create a personalised customer relationship to enhance customer satisfaction and increase your revenues.

Stimulating your security improvement

We are witnessing an upsurge in fraud attempts in Europe, mainly due to the shift from the physical to the online world.

• According to the ECB, 60% (Card Fraud Report, February 2014) of the total value of card fraud come from card-not-present payments. Besides, fraud has never stopped evolving along with technological advances, constantly challenging all the actors of the ecosystem to secure their activity. It is moving from an organised fraud to an automated and global fraud with a growing expertise of fraudsters. The issue at stake here for merchants, as for banks, is to find the right balance between anti-fraud measures and user experience. You need an efficient fraud risk management strategy based on big data intelligence and expertise. After KYC (Know Your Customers), we can now talk about KYF (Know Your Fraudsters). Learning engines, included in fraud prevention tools, deliver the most appropriate protection to quickly evolving fraud patterns. This prevention strategy can be reinforced by additional solutions like trusted authentication, as strongly recommended by regulators such as EBA or card schemes.                

• Data breaches can also create major damages to your business. By being only threatened in their privacy, consumers lose trust in the system and are more reluctant to share their personal and payment data with you. When it actually occurs, your brand is seriously crippled. The recovery is extremely difficult both in terms of image and revenue losses. New ways of handling payment are needed to decrease the spread of sensitive data. For example, Online Banking ePayments (OBeP) keep the data within the banks, or Mobile Host Card Emulation (HCE) payments which only transmit tokens.

And energising your attractiveness

Your business is also increasingly challenged by new and agile competitors. Indeed, they leverage digitisation to offer disruptive online banking or commerce services. Telco addressing unbanked people, worldwide e-merchants offering their own payment means or completely disruptive business models such as Uber are significant examples.

To fight competition, digitisation allows you to replace your traditional services by more attractive ones and offer innovative services, such as Card Link Offers which leverage the value of your customer data and reinforce your client relationship.

What’s next?

We are all moving in a great period, transforming the way people are living or making business. And innovation is a permanently roaring engine. Strongly grab this power! And leverage your partner’s know-how and innovations to test new services in a quick and efficient way. At Worldline, digital payments are our DNA and we are excited to contribute to this adventure by leveraging these changes to create and provide you with the best of our future.

About Stéphanie Noguès

Stéphanie has been Head of Marketing at Worldline since July 2013. Innovative and enthusiastic marketing expert, her main objective is to create, communicate and deliver superior value to Worldline customers. Previous to Worldline, she was Innovation Manager at Atos and has a track record of 12 years of brand marketing management in the CPG business. Stéphanie is a Graduate from ESCP Europe.

About Worldline

Worldline is the European leader and a major global player in the payments and transactional services industry. Worldline provides seamless and innovative transactional experiences to the end users. Worldline activities are organised around three axes: Merchant Services & Terminals, Mobility & e-Transactional Services, Financial Processing & Software Licensing.