Future of Payments

Vaughan Owen, CMO, Acquired.com

Industry View from

There’s hidden treasure in payments…

Despite the pressure to deliver increased value, payments remain an undiscovered treasure trove

 

One of the things that annoys me about “digital disruption” is that anyone still thinks its news. It’s like telling a sailor embarking on a journey that there will be weather. The sailor knows this. However, they are interested in technology to help navigate impending storms. Similarly, the announcement of digital disruption isn’t helpful, but tips to navigate it are.

 

As we weave our way through this current storm, it’s clear that experienced navigators will not sail through the weather first. New sailors might approach the seas differently, fearlessly using technologies like hydrofoils to fly across the bumpy waters.

 

In the same way, tomorrow’s CEOs are challenging their business models, embracing ideas from developers, customers and the supply chain, ripping things up to reassemble them in new ways over and over again.

 

 Despite so much energy being spent on finding new ways to extract value, there are still passages that remain uncharted: payments. Today’s CEOs still see payments as a necessary evil, an annoying cost of doing business. But what they don’t realise is that lost in layers of old legacy technology is a treasure trove of value for any organisation.

 

Payments ecosystems are goldmines. The problem is no one knows where to look, and how to mine them. The right payment partner can help with this, delivering greater business transparency and intelligence, saving time, costs and reducing friction. A better payments solution results in a seamless user experience, increased conversions, improved collection rates, automated reconciliation and proactive dispute management – helping organisations unlock exponential value previously lost by legacy technologies.

 

 The pressure to deliver increased value isn’t going away, and digital disruption will continue to whip up turbulent waters. The skipper that can turn stormy conditions into a competitive advantage is the one that will win. Payments offers the key. Bon voyage!

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