Solution Portfolio - Catalog - Page 51
THE PAYMENTS PILLAR
As the Payment function is now recognised as playing a crucial strategic role, it is increasingly connected and
coordinated business wide. Departmental interconnectivity is incredibly valuable within online businesses and
must continue to evolve with the payment function transitioning from being a limited resourced area, with no
clear home within the business, to a department in its own right.
Our ndings highlight that merchants are still in a period of transition. Traditional payment departmental
reporting structures are still used by many merchants; however, merchants are actively connecting all their
departments through the use of cross-departmental committees.
With 87% of merchants now operating a designated payment team, the importance of this function continues
to gain recognition within the merchant community. This trend is set to continue: among merchants who do
not have a designated payment team, 75% plan on creating one within the next 1-2 years. As the Payment
function continues to evolve, merchants are recognising the importance of a well-designed Payment strategy
in driving competitive advantage.
Figure 7: Does your company have a designated payment team?
Figure 8: Of merchants who do not have a designated Payment team,
does your company plan on setting up a Payments team in
the next 1-2 years?
We continue to see a large degree of variation in location of payment teams within online businesses, perhaps
demonstrating that merchants are still in the process of transitioning to this “new” approach to payments. Most
payment teams are located in “traditional” departments, such as Treasury/Finance (30%) or Operations (22%).
Many merchants have historically perceived the Payment function to primarily be a cost-based exercise,
therefore a nancial matter. Moreover, the broad-reaching nature of the Payment function means it is difcult
to decipher where the function should be placed. Consequently, merchants opt to locate their payment team in
a department that serves a primary functional role within the corporate environment.
The Impact of the Payment Function Today
The Quantitative Insight Into the 7 Habits of Successful “New” Payments Leaders