How Five Common Payment Pitfalls Impact Customer Retention

It’s an exciting time to work in the payments industry. Technology is evolving incredibly quickly and every week brings more options for payments. Yet the payments process is often disjointed from the rest of the brand experience, particularly for companies that have to collect regular payments from customers, such as in the telecoms, utilities and financial services sectors. Recent research from Teradata revealed that becoming more customer-centric is a top two priority for 49% of large global enterprises, as consumers expect and are more vocal about the level of brand experience they receive in every single contact they have with their suppliers.

In this article I cover the five main mistakes in the payments part of that customer experience, together with advice for organisations to help improve the end-to-end payments p ...

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