Speaking at the Manchester Digital City Expo, Josh Taylor and Greg Cockroft of Adyen underlined just how crucial the payment journey is as digital habits are retained following the pandemic.
Taylor commenced the presentation by underlining his belief that the pandemic led to one of the most significant shifts in digital behaviour – evolving the way consumers are buying and also forcing merchants to adapt.
He then went on to map out that for Adyen’s expansive portfolio of partners, in spite of their customer journey being varying significantly, they are underpinned by a focus on the latest technology.
Cockroft followed up by emphasising that the tech enables a deeper focus on personalisation for consumers, which has become a significantly pivotal element of the omni-channel experience.
Furthermore, he went on to add that the omni-channel experience has thrust into the forefront of the focus for consumers and merchants, as the evolution of payments has evolved at a rapid rate since just 2019.
The pair then drew attention to the firm’s latest growth in the ecommerce experience, ‘Pay by Link’, which seeks to mitigate risks with payments over the phone, whilst also allowing them to bring a VIP experience to their customers.
Identifying a case study – they looked at how Adyen’s relationship with Watches of Switzerland has seen the firm adapt their payment journey for users on a global scale – navigating the high-risk sector.
At the heart of the offering is the use of QR codes, which Taylor predicted would only continue to grow at an exponential rate – being integrated into advertising and promotions to bolster engagement, remove friction and generally take the consumer experience to the next level.
He highlighted where QR codes were in the omni-channel experience just two years ago as opposed to the present day, an expansion that if mirrored will see the payment journey enhanced in a dramatic way.
Moreover, the shift to digital payments and rapid embracing of new payment journeys is something that has transcended generations – with an older demographic also expanded into the digital space.
Looking ahead, the duo outlined their belief that both speed and technology will underpin the growth of the payment sector and be a vital focus for merchants as they seek to satisfy the desires of consumers.