Loyalty, Affinity and Personalisation, 3 Key Success Factors for Differentiation
The cards and payment landscape is undergoing significant changes due to, on the one hand, the emergence and development of new channels/technologies and, on the other hand, SEPA directives (Single Euro Payments Area) and their consequences on legacy payment infrastructures and rules.
The financial services sector – which is today the main provider of payment services to the general public, companies and governments – has to cope with the multiple impacts that such changes will have on its traditional position and business model.
As new entrants, with their attractive/disruptive approach, continue to develop and compete with traditional players, national monopolies will continue to decline.
In addition to new players, many companies (regardless of their core-business) will be authorized to offer and manage payment related products and services, be they a telecom operator, an IT service provider or a retailer.
In reaction to such trends, financial service providers and banks are seeking ways to protect/reinforce their market position and competitiveness, to increase client loyalty (cardholders or merchants), to further leverage the benefits of technologies such as e-commerce, contactless, IP, biometry or mobile services in order to generate new revenue streams.
Key points:
- Europe = domestic
- New entrants positioned all along the Acquiring or Issuing value chain
- Acceleration of M&As (mergers and acquisitions) at all levels, from products/solutions/services providers to acquirers and issuers, across Europe
- Launch of SEPA-based instruments
- Multi-country acquiring or issuing becoming more common
- More cardholder targeted personalization (plastic and logos, co-branding, affinity, advantages and rewards based on advanced segmentation)
- Advanced merchant services (multiple payment means and countries, added-value services)
- New technologies in support of new usages
|
MAIN REFERENCES
- Banques Populaires
- BNP Paribas
- Caisses d'Épargne
- HSBC
- CIC
- Citibank
- Crédit Agricole
- Crédit du Nord
- Crédit Mutuel
- Groupama
- Groupement des Cartes Bancaires
- Carte Bleue - Visa
- La Banque Postale
- LCL
- MasterCard France
- Société Générale
- Visa Europe
|
|
|
