The majority of retailers and merchants in the EMEA region are planning to increase their investment in new payment capabilities in the next 18 to 24 months, according to a study by ACI Worldwide and Ovum.
The report, which surveyed more than 260 EMEA retailers and merchants across industries such as general merchandise, grocery, restaurants, fuel and convenience, and travel and lodging, reveals that infrastructure improvements (54 per cent), security considerations (53 per cent) and introducing analytics to payments (47 per cent) are the main drivers behind these investment plans.
Meanwhile, 89 per cent say they would expect increased operational efficiency and 88 per cent would expect enhanced customer experience from their investment.
Andrew Quartermaine, vice president of SaaS customer management at ACI Worldwide who conducted the research together with Ovum, said: “Investment in new payment capabilities is clearly high on the agenda of merchants and retailers across the EMEA region. Most retailers have moved away from seeing payments as purely transactional and now understand that payments are crucial to the overall customer experience and success of their businesses. They also increasingly understand the value of payments data as an important tool for getting a single view of their customer.”
It’s positive to read that retailers are keen to improve their infrastructure and see that it will bring an overall benefit to the customer experience. However many retailers often cite difficulties with integration into legacy systems, or existing third-party vendor technology when talking to us about new solutions. What these retailers need to understand is that it is not about ripping and replacing every system, but working together with existing infrastructure.
To read more about how retailers with solutions from third party vendors can take advantage of the latest customer engagement technologies, while remaining on their existing infrastructure and systems, click here.