The dramatic evolution of payments has driven customer demand for frictionless journeys across all touchpoints in store and online. The price for getting it wrong is hefty; according to PYMNTS.com, half of consumers would switch providers for a better payment experience.
To thrive in this ever-changing environment, businesses must set themselves apart from their competitors by being flexible and agile when it comes to payment options. A critical enabler is a payments platform built for the modern era.
Red Badger x Adyen
Red Badger enables blue chips to continuously discover, deliver and enhance their customer experiences at scale. Through our partnership with Adyen, the global financial technology and payment platform of choice for many of the world’s leading companies, we weave new payment innovations and capabilities into our services.
Together, Red Badger and Adyen support retailers to process payments around the world, with a choice of over 250 payment methods. Our partnership is born from our joint commitment to creating continuously evolving products and services that deliver measurable value to the end user.
One of Adyen’s core values is “We launch fast and iterate”, and this shared synergy allows us to lead on the front foot and deliver valuable impact for our clients immediately.
Customer experience is driving the future of payments
Until recently, payments were a largely detached element of the customer experience, sitting outside of the key customer journey and treated almost as an afterthought by many companies.
The rapid shift in customer expectations, which has been accelerated by the pandemic, means this is no longer the case.
As KPMG acknowledges, “customer experience is driving change in the payments sector”. Payments are now so integral to customer experience that they should improve it, but be barely noticeable in our day-to-day lives.
Loyalty and payments are no longer separate journeys
Outdated customer loyalty models are being swept aside in favour of more integrated, joint solutions that meet customers’ demand for simplicity and speed at checkout. At Red Badger, we developed and introduced the first NFC (Near-Field Communication) Loyalty Card for Apple Wallet in the UK. Built on bespoke tech infrastructure and integrated to POS, the solution engages digital natives and alleviates pain points with plastic loyalty cards.
Adyen’s Unified Commerce solution allows retailers to turn customer payment cards into loyalty cards, removing the need for a separate loyalty programme. In addition to giving the customer a smooth and simple experience, it gives retailers a coherent and cohesive data set, which tracks performance across channels and regions.
Get it right, and you will reap the rewards - as states Antony Ruddenklau, Global Head of Innovation, Financial Services and Head of Financial Services Advisory for KPMG in Singapore: “Those retailers who can leverage digital technologies to make their service ubiquitous and engage with customers across channels are more likely to build long-term loyalty.”
All companies need to move at start-up speed
Advancements in the payments landscape are constantly continuing to emerge. By 2024, digital wallets are predicted to become the most popular online payment method globally, and the FIS FINTECH 2030 predicts that they could make credit cards fully digital within the next decade.
Staying ahead of the game when it comes to payments technology is no mean feat, and this is where blue-chips need to move at pace to stay relevant:
‘The most critical metric is how long it takes for an innovative idea to reach a customer. If it takes months, how can you compete with an organisation that delivers in days?’
Adrian Cockcroft, VP of Cloud Architecture Strategy at Amazon Web Services
Get in touch
We thrive on creating great experiences for the millions of customers of blue chips. If you’d like to explore how Adyen’s innovative payments platform can enable seamless journeys and loyalty, please get in touch.