Question treasuryXL Panel #4 | When do I pay an FX surcharge to my payment service provider?

14-12-2021 | treasuryXL | EcomStream | LinkedIn |

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Online checkout starts before the payment solution (Dutch Article)

| 17-11-2021 | treasuryXL | EcomStream | Ramon Helwegen |

Het sleutelmoment in de e-commerce-funnel is de betaling. Online betalen blijft een hobbel, zeker in vergelijking met het gemak van contactloos en zonder pincode betalen in de winkel. Snelle en gemakkelijke betaling online verdient daarom speciale aandacht.

Het is goed om je te realiseren dat een klant online meerdere processen doorloopt voordat een conversie kan plaatsvinden. Tijdens dit proces bied je de klant zoveel mogelijk aandacht, beleving  en gerichte informatie over dat waar hij of zij naar op zoek is. Dit alles binnen de ‘wetten’ van de optimale online klantbeleving.

Snel betalen

Maar zodra de klant de keuze definitief heeft gemaakt volgt het betaalproces. Voor jou als verkoper is dat een belangrijk proces op weg naar conversie, maar voor je klant is het een noodzakelijk kwaad waarin hij inhoudelijk veel minder geïnteresseerd is. De keuze is gemaakt en je klant wil gewoon zo snel mogelijk weg. In dit proces is snelheid dus van het grootste belang. Hoe sneller je klant kan betalen en vertrekken, hoe kleiner de kans dat hij  alsnog afhaakt.

De online sales funnel is geen lineair proces. Knip het daarom in tweeën:

  • Online shoppen = Aandacht en beleving
  • Online afrekenen = Snelheid

Schematisch zou je er zo naar kunnen kijken:

De snelheid van het afrekenproces bepaalt mede of je klant het inderdaad gaat halen tot en met de betaling. Hoe meer tijd je klant kwijt is aan dit proces, hoe groter de kans op afhakers (drop-offs).

Het grootste deel van het afrekenproces bevindt zich overigens buiten het domein van de betaalprovider. Er zijn uitzonderingen, bijvoorbeeld wanneer je klant met PayPal betaalt, maar dan gaat het dus om een situatie zonder vrije keuze van de betaalmethode. Ook is de afweging vanuit het ‘kosten-versus-conversie’-oogpunt in dit geval vaak uitdagend.

Het online afrekenproces eindigt bij de betaaloplossing

Mooi zo: je klant heeft het gehaald tot aan de betaalpagina. In dit laatste gedeelte van de checkout is de betaaloplossing van je betaalprovider wél van grote invloed op de conversie. Zowel net vóór de betaling als net ná de betaling door je klant.

Enkele aspecten van net vóór de betaling waarbij de betaaloplossing van invloed is op de conversie lees je hieronder. Het gaat hier over zaken die van toepassing zijn op de betaalpagina. Het gaat hier over aspecten die van toepassing zijn op de betaalpagina. Dus vanaf de keuze van betaalmethode, ofwel het moment dat je klant daadwerkelijk wil gaan betalen. Ook noem ik aspecten van net ná de betaling waarbij de betaaloplossing van invloed is op de conversie. Het  gaat hier om aspecten waarbij je klant het hele checkout-proces met succes heeft doorlopen, op de laatste betaalknop heeft gedrukt, en er toch een kink in de conversiekabel komt.

  • De juiste mix van relevante betaalmethoden. Je PSP kan je hier onderbouwd inzicht in geven. Welke betaalmethoden zijn in je marktsegment noodzakelijk om een optimale conversie te behalen. Kijk hiervoor ook naar verschillende landen en voorkeuren. Maar maak per betaalmethode ook de ‘kosten-versus-conversie’-afweging.
  • Zorg dat alleen klanten voor wie de betaalmethoden relevant zijn deze te zien krijgen op de betaalpagina. Het heeft bijvoorbeeld geen zin om een Engelse klant te confronteren met iDEAL als mogelijke betaalmethode.
  • Zorg ervoor dat je klant de betaling doorloopt in de look & feel van je bedrijf. Ook als je nog gebruik maakt van een redirect-pagina naar je betaalprovider.
  • Geef klanten de mogelijkheid om betaalgegevens op te slaan. Dat stimuleert niet alleen herhalingsaankopen, maar het invoeren van een 16-cijferig creditcardnummer geeft een grote kans op fouten.
  • Een responsive mobiele klantbeleving met een finger-friendly numeriek toetsenbord en een numerieke veldherkenning is wel zo prettig voor je klant.
  • De ‘achtergelaten winkelwagen’-recovery. Een verlaten winkelwagentje opvolgen in een branded e-mail kan je klant motiveren om toch af te rekenen.
  • Retries: wordt de betaling toch niet geaccepteerd? Zorg er dan voor dat je klant een alternatieve betaalmethode krijgt aangeboden, maar zonder dat de winkelmand per ongeluk wordt geleegd.
  • Fraude: een klant kan met een gestolen credit card afrekenen, of het geleverde ter discussie stellen. In beide gevallen staat de conversie op losse schroeven. Verkoop je een fraudegevoelig product of een fraudegevoelige dienst, zorg dan voor een goede fraudemanagementoplossing waarmee je de balans tussen je conversie en  je frauderatio goed kunt managen.
  • Het optimaliseren van autorisatie-success rates op creditcardtransacties: dit is vooral  interessant als je veel naar relatief ‘exotische’ landen verkoopt waar de autorisatie success rate op creditcards laag kan zijn. Steeds meer PSP’s bieden netwerkoplossingen waarmee ze de autorisatie-success rate kunnen verbeteren.

Conclusie

In de winkel betalen kan tegenwoordig makkelijk en snel. Je houd je telefoon dicht bij de terminal en klaar. Online betalen is helaas vaak nog tijdrovend. Want zodra je klant in het online winkelmandje op “bestellen” klikt wordt een checkout-proces doorlopen. De optimalisatie van dit proces vindt plaats binnen en buiten het domein van je betaalprovider. Een snel checkout-proces met een geoptimaliseerde klantbeleving helpt je klant om deze laatste fase van je funnel met succes te doorlopen.

 

 

 

Ramon Helwegen

 

 

 

 

About EcomStream

EcomStream is an independent consultancy and is specialized in optimization of online, omnichannel and marketplace payment solutions, and optimization of checkout flows.

The goal is to achieve much lower costs for you while creating a much better customer experience for your customers.

Thanks to its lean organisational model, EcomStream will help you to reduce the cost of ownership of your payment solution and to improve your ROI, fast.

Use gamification techniques in the checkout process

27-09-2021 | treasuryXL | EcomStream | Ramon Helwegen |

Gamification aims to increase engagement and create more loyalty through positive user experiences. Loyalty drives returning customers. It’s a loyalty risk if your checkout process is hard to complete.

The least exciting part of the online customer journey must be the checkout process, for sure. However, in a relatively simple way you can gain a lot here, limit abandoned shopping carts and drive loyalty of your visitor.

Imagine: Your customer has already chosen the product and has already agreed on the price. Isn’t it important to secure that conversion as quickly and as simply as possible?

What is the problem of a boring checkout process with all kinds of input fields? It is just not fun to do. Combine the pleasant with the useful. A gamified process is simply more pleasant to complete. With subtle adjustments, you can already achieve a lot and fortunately you do not have to reinvent the wheel yourself.

With a gamified checkout you set a goal, offer control, reward good behavior and deliver speed. By adding a gamified twist to the checkout process, you improve the necessary focus from your customer and limit the chance that he or she will be distracted and never finish the transaction again.

The checkout process is task-oriented and a number of things can be improved during this process. In the visual below you can see a number of thoughts and considerations that take place during the checkout process in the hearts and minds of your customers. By gamifying certain tasks you quite easily make checking out more pleasant. This also makes the overall customer experience just better as you remove friction.

A shopper who leaves the site even after the checkout has started? Make sure to avoid such a costly event.

A gamified checkout works. Just try it.

 

About EcomStream

EcomStream is an independent consultancy and is specialized in optimization of online, omnichannel and marketplace payment solutions, and optimization of checkout flows.

The goal is to achieve much lower costs for you while creating a much better customer experience for your customers.

Thanks to its lean organisational model, EcomStream will help you to reduce the cost of ownership of your payment solution and to improve your ROI, fast.

 

Interested to know more about what gamification can mean for your business? I am ready to help!

 

 

 

Ramon Helwegen

 

 

 

 

About EcomStream

EcomStream is an independent consultancy and is specialized in optimization of online, omnichannel and marketplace payment solutions, and optimization of checkout flows.

The goal is to achieve much lower costs for you while creating a much better customer experience for your customers.

Thanks to its lean organisational model, EcomStream will help you to reduce the cost of ownership of your payment solution and to improve your ROI, fast.

Partner Interview Series: Ramon Helwegen of EcomStream, specialized in optimization of online payment solutions

10-08-2021 | treasuryXL | EcomStream |

treasuryXL are delighted to share the interview with Founder and Managing Director of EcomStream, Ramon Helwegen.

EcomStream is an independent consultancy and is specialized in optimization of online, omnichannel and marketplace payment solutions, and optimization of checkout flows.

Meet Ramon

treasuryXL are delighted to share the interview with Founder and Managing Director of  EcomStream, Ramon Helwegen. Ramon has over 20 years of experience in E-Commerce, Online Payments and IT Managed Services outsourcing at organizations such as: Verizon, GlobalCollect (Ingenico e-payments), EMS (ABN AMRO/Fiserv) and Newgen.

Ramon has then founded EcomStream in 2017. A consultancy specialized in adding value by assessing the client’s checkout and payment solution, to sell more and pay less. For online, omnichannel and marketplace businesses.

International corporates (B2C & B2B) and Twinkle100 is the main target market. Clients include: Bax Music, Kwantum, Leen Bakker, Staples Solutions and vidaXL.

Let’s wait no longer and take the deeper dive with Ramon and his personal story about EcomStream. We asked him 8 interesting questions, let’s go!

INTERVIEW

1. What is the main goal of EcomStream?

EcomStream has been founded in 2017 and provides optimization services in the field of payment and checkout for online, omnichannel and market places. Both functionally and from a cost perspective. The goal is to provide clients the opportunity to sell more at lower costs.

Many times a client is not fully aware of optimization features that can be provided by their existing providers. This is often low hanging fruit. I also make sure that clients get value for money by benchmarking and renegotiating their rates and fees. Furthermore I’m often asked to optimize the end-to-end checkout flow to make sure the risk of drop offs is reduced to a minimum, and conversion is optimized.

2. Why are clients choosing for your services?

Assurance. Clients never have to worry again about having the best deal and set-up regarding cost and conversion, and often the service is performed on a no-cure no-pay basis.

3. What would be the biggest benefit for clients when working with EcomStream?

The payment market is very dynamic and todays knowledge gets outdated quickly. With EcomStream clients have access to up-to-date knowledge and expertise, just when they need it, and are assured of having the best deal (costs and features) with their providers at all times.

4. What client profile benefits from your services?

Rule of thumb says that most value can be generated for clients in online, omnichannel or market places, who have established mature volumes for a few years already. Clients within the Twinkle250 rankings or large corporates in B2B with direct distribution models would benefit greatly. But frankly, every merchant is very welcome to have a chat to see where I can help.

5. What is the common ground between treasury and EcomStream?

Many of the decision makers that I work with are from treasury departments. However not every treasurer understands payments, fintech, checkout and conversion as much as they would like to. Treasurers are often challenged by other stakeholders in the company to come up with cost savings or additional features, or they are pro-actively looking for opportunities to improve their KPI’s. I’m there to help them and to deliver.

6. What has been your biggest challenge with EcomStream so far?

When managing your own business you don’t have the luxury where you can rely on a large established corporate, with an enormous historical track record, that backs you up. This can be challenging. Especially when getting trust and commitment from the stakeholders and decision makers at a client side, it is your own performance that counts, for each and every project, time and time again.

7. What has been your best experience since the start of EcomStream?

First of all the strength lies within the fact that EcomStream operates an independent business model. I only work for merchants, so there are no projects taken onboard for providers or other parties in the value chain. There is never a conflict of interest but always a full commitment to the merchant.

Furthermore, I’m very pleased that I have received quite some positive work references from clients. Together with an explanation of the merchant business case, these are showing on the website.

8. What will the future hold for EcomStream?

Direct (online) distribution models are getting mainstream more and more. For B2C companies but also for B2B. Often these companies originate from traditional business models and evolve towards digital / omnichannel companies with business challenges they were not aware of before. EcomStream is there for them to unlock opportunities in the field of payment and checkout optimization, so they can sell more at lower costs.

Contact EcomStream directly

Curious to know more? Ramon Helwegen is happy to tell you more about EcomStream and his experience. Contact him directly via [email protected].

 

Go to Partner Page

Are you leaving Money on the Table with your Checkout and Payment Solution?

12-07-2021 | treasuryXL | EcomStream |

Benchmarking your checkout and Payment solution is worth the effort. There are often areas for improvement that are relatively easy to execute or implement.

In 2018, EcomStream has assisted a number of online entrepreneurs, large and small, by benchmarking and optimizing their payment solution and checkout. This results in an improved customer experience and lower costs, sometimes up to 50% cheaper.

In optimization processes the checkout and payment solution is often seen as a functionality with little or no conversion uplift opportunity. Wrongly!

Studies from Baymard Institute show why in this final phase of your sales funnel, where visitors should just go through checkout and payment, they are leaving your site. It also shows what you can do about it.

The Payment solution is often overlooked in optimization projects. “Don’t fix if it ain’t broken” you sometimes hear. Many entrepreneurs are therefore already happy when their online payment solution functions properly and provides basic functionalities. There have been many developments in this area in recent years that make it easier to migrate from a payment service provider and there are considerable savings opportunities thanks to increased competition. You can compare the payments market with the market of energy suppliers but it is far less transparent. Competition is fierce and it is worthwhile to compare, renegotiate or migrate.

Let EcomStream do a benchmark assessment of your checkout and payment solution. You will be amazed by the findings. In the area of customer experience but also with regards to contractual terms and rates. A meaningful agenda item for your next optimization meeting or contact EcomStream now

Does your Online payment solution generate the right value for your company?

22-06-2021 | treasuryXL | EcomStream | Ramon Helwegen

For some treasurers the world of Fintech / online payments / e-commerce doesn’t seem to have too much secrets. Some treasurers are however more distanced from it and would benefit a lot from support in this area.

As a consequence of COVID-19, many Corporates have fast-tracked their digital transformation projects to adapt to direct (online) distribution models. A key component in getting this right, is the revenue flow and the payment solution that comes with it.

The world of payments is dynamic and there is a lot of value to gain, both in performance levels as well as in cost levels. But how would you unlock access to these values in making sure you get value for money.

A few considerations that could cross your mind right now:

  • Are you in the middle of a digital transformation project and your business owners are requesting a payment set-up but you are not sure how to facilitate this at a competitive cost level?
  • Are you getting questions internally about the cost of the online payment solution and the options to save on these?
  • Do you feel that your online payment solution may be just the right area to help achieving your KPI’s around performance and cost savings?

You can consider to perform a benchmark and cost optimization of your payment solution or initiate a tender/RFP project. Both have their own pros and cons, but both deliver value to your company and will lower the TCO of the payment solution. This is where EcomStream can come in. EcomStream can take full ownership of such a project.

Think about it, you do not need this payments knowledge every day, but you would like to be able to call on it at any time. And if the costs of your payment solution would be lower, that would free up budget for growth. EcomStream often works with its clients for the longer term (yet flexible) in making sure they get value for money from their online, or omnichannel, payment solution.

The payments market is dynamic and knowledge quickly becomes obsolete. You would like to obtain the latest knowledge around online payments. That is why it is often just better to obtain payments knowledge externally. Fresh, flexible and independent. Available for you just when you need it, always. You should never again have a feeling that you could have gotten a better deal for your online payment needs, or that you are missing out on value that your business owners may ask for.

With EcomStream, you are always up to date and have access to most recent market knowledge.

Benchmarking your online checkout and payment solution is worth the effort. There are often areas for improvement that are relatively easy to execute or implement. And execution is based on a no-cure no-pay basis.

Your online payment set-up should have your primary attention. Consider to bring in an independent specialist to help you out.

About EcomStream

EcomStream is an independent consultancy and is specialized in optimization of online, omnichannel and marketplace payment solutions, and optimization of checkout flows.

The goal is to achieve much lower costs for you while creating a much better customer experience for your customers.

Thanks to its lean organisational model, EcomStream will help you to reduce the cost of ownership of your payment solution and to improve your ROI, fast.




Ramon Helwegen

 

 

 

 

 

treasuryXL announces partnership with EcomStream to strengthen dissemination of the latest trends for payments solutions and checkout flows

16-06-2021 | treasuryXL | EcomStream |

VENLO, The Netherlands, June 16, 2021 – treasuryXL, the community platform for everyone who is professionally active in the world of treasury, and EcomStream in the Netherlands, an independent consultancy that is specialized in optimization of online, omnichannel and marketplace payment solutions, and optimization of checkout flows, today announced the signature of a premium partnership.

As a marketplace, treasuryXL will offer EcomStream market commentary and insight to its audience. Offering a continuous flow of relevant treasury content, making treasury knowledge available, results in treasuryXL being the obvious go-to platform for its’ audience.

This partnership includes:

  • collaboration on messaging, content production, and visibility
  • mutual distribution on select items of interest
  • collaboration on larger themes: event promotion and speaking, and industry expert contributions and publication

treasuryXL and EcomStream strive for a fruitful partnership where its’ audience are top of mind making sure that (potential) clients are always up to date with the latest news and events in their field, benefit from a comprehensive range of innovative solutions, services and expertise.

About treasuryXL

treasuryXL started in 2016 as a community platform for everyone who is active in the world of treasury. Their extensive and highly qualified network consists out of experienced and aspiring treasurers. treasuryXL keeps their network updated with daily news, events and the latest treasury vacancies.

treasuryXL brings the treasury function to a higher level, both for the inner circle: corporate treasurers, bankers & consultants, as well as others that might benefit: CFO’s, business owners, other people from the CFO Team and educators.

treasuryXL offers:

  • professionals the chance to publish their expertise, opinions, success stories, distribute these and stimulate dialogue.
  • a labour market platform by creating an overview of vacancies, events and treasury education.
  • a variety of consultancy services in collaboration with qualified treasurers.
  • a broad network of highly valued partners and experts.

About EcomStream

EcomStream is an independent consultancy and is specialized in optimization of online, omnichannel and marketplace payment solutions, and optimization of checkout flows.

The goal is to achieve much lower costs for you while creating a much better customer experience for your customers.

Thanks to its lean organisational model, EcomStream will help you to reduce the cost of ownership of your payment solution and to improve your ROI, fast.

www.ecomstream.nl