Payment Providers

It has been a roller coaster for payment providers in the last couple of years. Some have achieved sensational growth rates to keep up with the ever-competitive payment ecosystems. This process demands change and innovation.

Due to mergers and acquisitions, most payment providers are a mixture of different corporate cultures and legacy systems. These need to be brought together to ensure efficiency and a competitive edge. Moreover, intense change programs, which, to make it more complex, need to be managed in a remote working setting. The players who succeed at this first, will have a massive benefit as they will free up recourses and energy to focus on innovation and delivery. This will be crucial to keep up with their growth strategy, and also to grasp new opportunities and embrace new business models.

The industry has evidenced a fascinating level of innovation. For example, in the last couple of years we have seen mobile payments, contactless payments, mobile wallets, identity verification technologies, machine learning, security enhanced systems, wearables payment options, amongst others.

We are witnessing the need to offer personalization options for users, which means interacting with the final user at the right time, through their preferred channel with a unique product proposition that meets their needs and even exceed their expectations.

In this ever-changing environment, with fast innovation and new entrants into the ecosystem, new payment solutions are being demanded by consumers, merchants and investors on a constant basis which require change management infrastructure and team and leadership development.

All these elements put additional strain on leaders and employees.