Upload
others
View
2
Download
0
Embed Size (px)
Citation preview
Customer Experience A catalyst for payments & commerce innovation
Jordan McKee, 451 Research, Research Director
SPONSORED BY DISCOVER GLOBAL NETWORK
Your source for payments education
Disruption is here, and increasing
2Source: 451 Research, 2018n = 250 retailers
Next 3 YearsLast 3 Years
42%
55%
Level of Retail Disruption% of retailers that feel their industry is experiencing
‘major disruption’
3
Empowered customers are driving commerce disruption
Source: 451 Research
4
The cost of control: lack of payment choice results in lost sales
Source: 451 Research, 2018
5
Purchase volume is shifting into digital channels
Source: 451 Research Global Unified Commerce Forecast, 2018
► Marketplaces
► On-demand economy
► Mobile order-ahead
► Click-and-collect
► Showrooming
Digital innovations and behaviors are
driving volume online
14% CAGR from 2017 to 2022
US $bn
6
Emerging commerce endpoints will create new opportunities and challenges
Key IoT Implications
► New sales opportunities
► New customer journeys
► Battle for ‘top of wallet’
► Erosion of traditional acquiring channels
► New authentication & interaction interfaces
Source: 451 Research, 2018
7
Payment experiences directly impact business results
Source: 451 Research, 2018n = 5,000
8
Pay buttons show a path to an improved checkout experience
Source: 451 Research, 2018n = 1,000
9
Fraud is following digital commerce growth
23%
Significant increase
13%4%
18%
42%
No change Slight decreaseSlight increase Significant decrease
How would you describe the level of fraud occurring in your digital commerce channels compared to last year at this time? (Retail)
Thinking about the current state of fraud in digital commerce amongst your merchant customers, how does it compare to this time last year? (Digital Commerce Enablers)
20%
42%
25%
13%
0%
Source: 451 Research, 2017n = 500 merchants (top); n = 150 digital commerce enablers (bottom)
“We are seeing fraudsters monitor customer patterns and design highly planned attacks that mirror real customer behavior. Fraudsters are gaining access to immensely
private and confidential customer data.”D I R E C T O R O F D I G I T A L T E C H N O L O G Y,
e C O M M E R C E P L AT F O R M , $ 1 B N + R E V E N U E
11
‘False positives’ have long-term consequences
Source: 451 Research, 2018n = 1,000
12
13
Fraud prevention can be a strategic lever
Source: 451 Research, 2018n = 250 merchants
14
Payment and commerce experiences must be designed with the 3 C’s in mind
Source: 451 Research
Summary & Key Takeaways
15
Start with the customer experience and design around it
View payments as a critical customer experience factor
Use invisible approaches to fraud and authentication to elevate the CX
Make fraud prevention a strategic priority
Thank you
16
Don’t forget to submit your session evaluation!
Jordan McKee, 451 Research, Research Director
451research.com
@jordanhmckee
New YorkLondonBostonWashington, D.C.San Francisco