Gregoire Toussaint (Director, Paris) moderated a panel discussion on payments for merchants in the One-to-One Monaco event on 14-16 March 2023 in Monaco. The panel discussion counted with the participation of Laurène Lecomte, Head of Risk, Payment and Fraud Management at Back Market and Lucas Quinio, Head of Payment at Conforama. The panel discussion focused on how merchants can leverage payments to increase revenues and support merchants’ growth.
The panel first discussed the need to have a payment manager and a payment team to manage payments more efficiently as payments have become strategic for merchants. It is also important to explain clearly the business impacts of payments to senior management (e.g. increase in revenue, enable new customer journeys) so that payments are perceived internally as a priority. The internal governance with the support of senior management is key to facilitate the decision-making process regarding payments (e.g., choice of payment providers, infrastructure decision such as payment orchestration).
Payments were then discussed as tools to support merchant’s revenue growth with a focus on payment orchestration, marketplaces, BNPL – Buy Now Pay Later and the use of specific KPIs to leverage data, increase acceptance rates and optimise cost of payment acceptance. Payments can become the catalyst to create new customer journeys (e.g. in store with ‘Tap to Pay’ and test and buy to try products) and support the growth of merchants