The Evolving Role of Payments In a Customer Centric World
Transcript of The Evolving Role of Payments In a Customer Centric World
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Evolving Role of Payments in a
Customer Centric WorldWorldpay - Rethink
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The shift in the revenue modelTraditional Software Licensing Business Model
One-time Sale of Software
Success Depends on Sale of Software Copies
CAPEX Model
Software-as-a-Service Business Model
Recurring Revenue Relationship
Success Depends on Number of Customers
OPEX Model
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And this has resulted in industry buzzwords such as
Customer Success
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Customer ROI
Product ROI
Product Focus
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So What Role Do Payments Play In This?
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Pricing - an integral component in any recurring revenue relationship
… And in SaaS, it’s tricky! The shift from CAPEX model to OPEX model is driving the shift in how products are priced and customers are acquired.
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The ability to accept frictionless payments globally is an essential component
… And any friction here will lead to customer churn
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Ingredients of Operational Hygiene in Frictionless Payments
The ability to - assess risk - graceful recovery from payment failures - accurate revenue management
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Customer Support
Product Familiarisation
Product Experience
Product Purchase
Customer Experience
Billing
Payments
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Thank you!