Easy and seamless payments are one of the key concerns for large retailers. As new technologies emerge, and the payments ecosystem evolves, retailers must stay ahead of customer expectations around availability, channel variety, and ease-of-use.
“The payment environment in retail must not only ensure high availability and performance, but is also a key part of optimising business services, extending into important value propositions such as customer experience.” says Deon Van Biljon, Chief Operations Manager at Stanchion Payment Solutions.
A key element of customer service for retailers is the payments environment. A smooth and seamless payment experience is essential to a successful customer journey, regardless of channel.
“This puts an increasingly high burden on large retailers,” says Van Biljon, “as they need to ensure that their payments systems are secure, efficient, and well managed, so that they can remain focused on their core business offering.”
Large retailers need a payments environment that can perform at a very high level, with minimal to no downtime, and must ensure that those managing it have the skills and technology to do so.
With this in mind, Stanchion has invested in skills, expertise and partnerships required to support retail payments. Stanchion has developed specialist skills in payments roadmap consulting, architecture design, systems analysis and integration, testing and project management to enable end-to-end project delivery for payments environments.
With these skills, Stanchion has worked with leading retailers to provide technical capabilities, including the end-to-end coverage of the building, roll-out, maintenance, and management of an inhouse payments switch for a global retailer with over 1 400 store locations in 14 countries.
Stanchion has also worked with leading payment processors to secure sensitive payments data. This includes implementing Futurex hardware security modules (HSMs) for a leading payment processor across their data centre locations, enabling them to secure over one billion transactions, processed across over 60,000 connected terminals, enabling them to provide P2PE on all their transactions.
“Stanchion has a long history of being at the forefront of payment solutions for retailers, banks, credit unions, card schemes, payment processors, and payment systems globally.” says Van Biljon.
“In order to drive long term success retailers need to embrace innovation. They must look for new ways to operate their business and deliver against client expectations. Doing this alone however will be challenging. They must therefore build an ecosystem of providers and partners that can help them drive innovation and implement change.”