Assessment of the payment service provider’s global ecosystem for a new partner selection
The brief
A leading loyalty e-commerce and technology solutions provider wanted to expand its payment capabilities. The client contracted us to provide support in selecting a suitable payment service provider.
The client wanted to leverage the need for change and choose a vendor that would support its needs across key target areas: geography, currency, FX, payment methods.
Our approach
This project focused on analysing operating procedures, strategic business plans and identifying payment acceptance providers that could meet the identified requirements.
We leveraged our proven ecosystem assessment methodology that relies on both quantitative and qualitative analysis. Working closely with our client we:
- Assessed current and future payment processing requirements
- Defined and agreed potential supplier long-list
- Refined selection criteria; provided scorecards and ratings for each supplier
- Validated and completed traceability to business requirements
- Implemented a two stage selection for final detailed face to face PSP review: 1) supplier ‘longlist’ ; 2) supplier ‘shortlist’
- Presented recommendations for final supplier selection for the desired solution
The solution and key benefits
We liaised with the main payment service providers to assess their market proposition, service portfolio and overall suitability to become our client’s partner: a scorecard for each provider was developed to assess their ability to match business and technical requirements.
The two-stage selection process (with our client involved only in the assessment of shortlisted potential partners) accelerated the analysis cycle and guarantee that business and technical requirements were satisfied.
