Optimization of payment solutions
No Cure No Pay
Overspending on payment methods is a missed opportunity for cost efficiency. While the payment solutions market is undoubtedly price-centric, delving into the finer details is where profitability thrives.
In the dynamic realm of payment solutions, staying ahead is not just an advantage; it’s a necessity. Rely on us to keep you in the loop with the latest insights because outdated information is a thing of the past. Elevate your strategy by tapping into our external expertise—always current, supremely flexible, and completely independent, available at your beck and call.
EcomStream offers its optimization services on a “no cure, no pay” basis, covering both cost and performance improvements. Clients can select either a tactical approach (Option A) or a strategic approach (Option B) to best meet their needs.
Option A: Cost and performance optimizations of payment solutions (no cure no pay) - Tactical
Are we fully leveraging our existing payment solution and does it help us to improve our KPI’s?
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Are our rates still competitive?
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Have we unknowingly been overcharged for years?
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Is the authorization rate performance of our payment service provider competitive with market benchmarks?
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Is our online checkout flow optimized to drive conversions and deliver a seamless customer experience?
Let EcomStream conduct a comprehensive cost and performance analysis of your payment solution, evaluating it against current market rates and available optimization functionalities from your Payment Service Provider (PSP). Are you truly getting the best value for your money with your existing payment provider? Let’s uncover the answer.
Our analyses are fueled by a dynamic database containing the latest market rates and optimization functionalities sourced from a spectrum of leading and niche payment providers, catering to Online, POS and Unified Commerce platforms.
Next to this, our detailed forensic audit of your transactions goes beyond the surface, carefully dissecting intricate fee structures. Swiftly, we reveal concealed inefficiencies, ensuring you never overpay, both historically and ongoing.
Explore the power of “option A” and see firsthand how our service transforms possibilities into profitability.
Option B: RFP (tender) management of payment solutions (no cure no pay) - Strategic
Is our current PSP still the right fit for our growth plans?
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Is our contractual set-up to our benefit still?
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Could we explore opportunities to reduce the complexity of our current payment solution?
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Are we missing out on features that could improve our conversion?
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Is there an opportunity to consider a different PSP/gateway service model with improved performance levels?
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Can we benefit from advanced features to improve our approval/authorization rates and/or to mitigate our online fraud ratio?
If you find yourself questioning the alignment of your current payment solution with your company’s strategic direction or contemplating international expansion and Unified Commerce ambitions, or if you simply seek assurance about your current payment provider, look no further.
Let EcomStream take the reins of your RFP (tender) project from inception to completion, ensuring a tailored payment solution that perfectly aligns with your business objectives.
Our RFP process is driven by translating KPIs into robust business and financial requirements. These KPIs encompass crucial aspects like performance enhancements, cost savings, fraud prevention, international expansion, and additional features geared towards boosting conversion rates.
Experience the EcomStream advantage with our RFP management, “service option B,” and elevate your payment solution to a strategic asset that propels your business forward.
PSP performance optimization
Let EcomStream deepdive into the performance of your payment solution(s).
Armed with tangible expertise and skills, swiftly providing actionable solutions, facilitating well-informed decision-making.
Perfect for companies in search of skilled expertise to guide them through performance improvement of their PSP.
Are any of the following queries currently challenging your operations?
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We are seeking an expert assessment for our payment infrastructure. Bring a fresh, objective perspective to my organization and contribute expert, up-to-date payment experience. Staying ahead of the competition is crucial, focusing on maximizing conversions.
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We are suffering from underperforming authorisation rates in a number of countries. We need an expert view on this.
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We need to conduct a business case assessment for introducing new payment methods in emerging markets.
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Our product or service is susceptible to fraud and chargeback exposure. We seek guidance to gain better control of the situation and insights on maintaining a healthy revenue stream.
Optimization of the online checkout flow
The path to payment excellence begins the instant your shopper clicks on their cart and enters the checkout process. This crucial moment occurs well before they select a payment method, and well before the performance of your PSP can make a difference. Engage your shopper early and lay the groundwork for a smooth and satisfying payment experience.
The conversion impact of the online checkout flow is often underestimated. Therefore, EcomStream provides a substantive assessment of your existing online checkout flow. This thorough evaluation will provide a lot of insight to improve conversion as the assessment is based on best practice and usability principles by NN/g and Baymard Institute.
Minimize distractions
As your shoppers transition from the enjoyable browsing and item selection phase to the checkout, their mindset undergoes a significant shift. Make this transition seamless and quick, enhancing their overall experience. Introduce engaging gamification techniques to inspire motivation and keep distractions at bay, ensuring a smooth and enjoyable path to completing their purchase.
Reduce friction
Every added step during checkout heightens the risk of losing your customer’s interest and attention. Interest and attention levels dip significantly when navigating the checkout and payment process. Efforts are needed to streamline and reduce friction in this crucial phase. That’s the experience we craft – one designed to captivate, not complicate.
Checkout gamification
Transforming your checkout from a challenge to a triumph is the first step in winning customer loyalty. Elevate the experience by incorporating engaging gamification techniques into your checkout process.
The result? A seamless, enjoyable journey that not only removes friction but also creates a bond with your customers. Witness the power of enhanced checkout – where every click builds loyalty, paving the way for a stream of returning customers. Let’s make your checkout a game-changer in customer satisfaction.
Online checkout flow - Best practice optimizations (usability principles)
The great news is, you don’t need to start from scratch to refine your checkout funnel. EcomStream takes care of (data-driven) best practice optimizations by evaluating the usability of your checkout and providing a comprehensive usability report for enhancements.
Our recommended improvements, derived from analyses, surveys, and reports from respected sources like the Baymard Institute and Nielsen Norman Group, are tailored to your unique situation, proposition, and business case.
Losing a customer during checkout comes with a hefty cost. Ensure the risk of drop-offs is minimized by optimizing the customer experience in your checkout. From best practice optimizations and usability principles to innovative gamification techniques – discover how to achieve fewer drop-offs during checkout. Interested in learning more?
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