PAYX offers Business Consultancy for the Payment Market with the Expertise in:
Payment Strategy Development
Strategy Review – Review of existing strategies and the development of new or improved strategies to support the realisation of business objectives (relating to product construct & placement, marketing, technology, operations, pricing, etc)
Product Proposition Development
Product Proposition - Review and cost/revenue assessment of any existing product or the development of the proposition for any new products.
Including Feasibility studies – Covering:
- The launch of new products,
- Acquisition of product portfolios by merger or take over
- Partnerships and Alliances
- Business reorganisation as part of any change process.
Business Planning
Business Case Development or review for new product launches or withdrawal, platform migration or change, new business investments.
Financial Modelling – Modelling of the financial impacts around existing products or new proposed products.
Business Process Management (BPM)
- Assessment, and re-design of the end to end process across the Acquiring and / or Issuing business.
- Integration: Support to integrate new and changing processes.
- Business Continuity: Provision of an ongoing improvement framework for the business to facilitate swift reaction to market and product changes.
- Efficiency Program – Establishing an ongoing program to update existing business processes within continuous improvement frameworks
- Customer Focussed Processes – Review and assessment of all processes and procedures affecting customer delivery including customer channels.
Vendor and Product selection support and analysis
RFI / RFP – Development of RFI’s and RFP’s to support the launch of a new service or product in the market or outsourcing partnership selection. Assessment of the responses to these documents and assessment of their impact on the clients systems, operations, business functions and the commercial/financial implications.
Organisational Development
Organisational studies – Ensuring that the internal business infrastructure is organised optimally to best support the operation of the business, to deliver on customer requirements and to operate off an efficient cost base.
Due diligence
Reviews – Review of any potential acquisition, covering staff, products, operational capability, regulatory compliance, commercial and financial positions, etc: Definition of its impact on existing business structures, processes and products.
Our Card Payments specific focus is concentrated on
Interchange Reviews
Objectives are
- to deliver a comprehensive assessment of extant interchange and service fees and
- to determine pragmatic and workable solutions that increase operational efficiency and deliver financial improvement through:
- Management, monitoring and optimisation processes
- Verification processes and procedures
- Reporting capabilities and sufficiency
- Financial performance / benchmarking
- Planning and forecasting processes
- Claim processes and procedures
- Internal training material
In addition and where applicable
- Bilateral interchange fee and inter-bank negotiation strategies
- Arbitration case building and submissions
- Hands on support in populating card scheme cost study questionnaires
- Analysing of benchmark feedback from the schemes to drive cost efficiencies
Pricing Reviews
With the objective to ensure competitive positioning and cost/revenue optimisation through
- An assessment of the accuracy of card scheme fee costs
- Review internal processes for the ongoing monitoring
- Validation of these charges and
- How they are managed efficiently across all business functions
- A critical and objective review of merchant and/or cardholder price points
- Against underlying costs and
- Third party commercial terms
Payment Ecosystem Development
PayX Customers benefit from an Ecosystem, which has been designed over more than 15 years to provide highest standards of knowledge services to the payment market with a corporate, business and technology focus. The related areas where we engage are
- Technology: Business Partner identification
Develop or assist client with the construction of an RFI/RFP as appropriate, identify likely suitable partner organisations, Review and analyse submissions with the client executive to shortlist candidates for detailed presentation of service offering, financials and commercial terms, ensuring a good fit with the client.
- Markets: Research and Knowledge Services
Comprehensive Research, surveys & analysis into markets and products tailored to clients individual needs covering, for example (but not limited to), economic climate, regulatory position, competitive situation, demographics, market behaviours.
- Business: Sales and marketing support
Development of, or the review or re-engineering of, the planning and execution protocols employed to support the sales and marketing effort within the organisation.
Training Academy covering
- Business Process Development and Optimisation
- Interchange fee management and optimisation
- Pricing optimisation
- Business Case Development
- Technology overview of new emerging technologies and stakeholder (e.g. Mobile Commerce)
