You’re an online content executive with clear goals: expand globally while managing risk, accept your customers’ preferred payment methods, and reduce subscription renewal churn.
TOP 3 CHALLENGES FOR
TODAY’S DIGITAL EXECUTIVE
Your customers want flexible subscription options and expect a seamless experience including easy renewals and in-app payments. Failed payments lead to dissatisfaction and attrition. In a competitive industry with an average churn rate of 20%, subscription providers cannot afford any friction in the payments process.
THESE ARE BIG GOALS
With the ability to enter new markets quickly, the online content industry is growing exponentially.
Global online content consumption doubled in 2020, and shows no sign of slowing. Competition is up and so is the threat of online fraud.
In an industry where a brand can reach customers around the globe at the push of a button, a digital payments strategy is imperative to staying competitive.
WHERE DO YOU START?
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Worldpay from FIS has the payments technology to move the online content industry forward – join us.
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For enterprise technology finance leaders, the top 3 investment priorities are:
Modernized systems
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The online content industry has the unique opportunity to reach new markets around the world because it’s not limited by physical locations. While cultivating customers across borders is a great way to grow a business, it’s not without challenges.
There are many risks associated with global expansion. Ensuring a seamless customer payments experience requires technology, skill and strategic risk management.
Expand globally
Understand payment preferences
Mitigate risk
Optimize payments infrastructure
Expand payment options
Consumers expect to pay in a variety of different ways – and preferences vary across borders. A payment type that is popular in one country may not be as common in another.
When you cannot meet your customers’ payment preferences, you risk losing your business to a competitor. Offering a range of alternate payment methods is an effective way to attract and retain customers.
Smoother Renewals
Customers expect a seamless payments journey, from sign-up to renewal. A failed renewal payment is all too common in the online content industry. Without the staff to contact renewing customers every month, businesses risk attrition.
Automating the payments renewal process reduces churn and frees up resources to focus on strategic initiatives like building a flexible subscription model or harnessing the power of microtransactions.
With Worldpay from FIS, you can confidently face the future of online commerce. We'll conduct a complimentary operational assessment and help you pinpoint ways to strategically and effectively expand globally, optimize your payments strategy and reduce customer churn.
There's a way forward.
Empower every aspect of the payments lifecycle
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Diversify payment acceptance
Stop the churn
In-app purchasing
Data and analytics
Cloud solutions
YOU’RE WORRYING ABOUT:
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2
3
Source:
FIS 2022 Global Payments Report
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Releasing capital for innovation
How can you improve efficiency in your function to reduce cost and have more cash for innovation?
There’s so much data, how do you make actionable insights from it?
Making smart decisions
How do you stay ahead of payment innovation, with growing markets and customer expectations changing?
Having flexible payment options
Offering alternate payment methods, including crypto
AS THE ONLINE CONTENT INDUSTRY KEEPS GROWING, WHAT’S KEEPING YOU UP AT NIGHT?
A.
Expanding into new countries
B.
Reducing customer renewal attrition
C.
Offering flexible subscription models
D.
All the above
E.
Ability to support new financial products
F.
Cost pressure/Need to reduce OpEx
G.
You're not alone
Your peers are also concerned about how to tackle this issue – and they are preparing for the future with technology investments.
Consumers are using a variety of alternative payment methods. Digital wallets lead the way and are projected to rise to 52.5% of transaction value in 2025.
Consumers are using a variety of alternative payment methods. Digital wallets lead the way and are projected to rise to 52.5% of transaction value in 2025.
Source: 2021 FIS Readiness Report, June 2021
Global Expansion
Competition to expand globally is fierce and fraud is a constant threat.
From digital wallets to cryptocurrency, your customers want the ability to pay using the method they prefer.
Alternate Payment Methods
Keeping your customer’s information up to date is key to mitigating churn.
Smoother Renewals
Select your answer below...
“Digital wallets are projected to rise to 52.5% of transaction value in 2025.”
Source:
Mercator Advisory Group, Feb. 2022 Subscription Report
“Recurring payments are expected to generate $830 billion in transaction volume by 2025.”
Source:
Mercator Advisory Group, Feb. 2022 Subscription Report
“Major credit card issuers report that around 15% of all recurring payments are declined.”
Your peers are also concerned about how to tackle these issues – and they are preparing for the future with technology investments.
You're not alone
Source: Global Banking and Finance Review
Your peers are also concerned about how to tackle this issue – and they are preparing for the future with technology investments.
While 70% of business leaders say subscription business models will be key to their prospects in the coming years, 22% are unsure how to proceed.
You're not alone
Source: Forbes (2021) A Challenge For Video Streamers Will Be Keeping Subscribers.
Your peers are also concerned about how to tackle this issue – and they are preparing for the future with technology investments.
With 64% of consumers saying they would downgrade or cancel a subscription service to pick up another, providers must provide a customer experience that distinguishes them from competitors.
You're not alone
Source: 2022 Global Payments Report
Your peers are also concerned about how to tackle this issue – and they are preparing for the future with technology investments.
The global e-commerce market is projected to grow more than 50 percent through 2025 to reach over $8 trillion in transaction value.
You're not alone
Source:
FIS 2022 Global Payments Report
%
0
Consumers are using a variety of alternative payment methods. Digital wallets lead the way and are projected to rise to 52.5% of transaction value in 2025.
Your peers are also concerned about how to tackle these issue – and they are preparing for the future with technology investments.
You're not alone
Source: Global Banking and Finance Review
Your peers are also concerned about how to tackle this issue – and they are preparing for the future with technology investments.
While 70% of business leaders say subscription business models will be key to their prospects in the coming years, 22% are unsure how to proceed.
You're not alone
Source: Forbes (2021) A Challenge For Video Streamers Will Be Keeping Subscribers.
Your peers are also concerned about how to tackle this issue – and they are preparing for the future with technology investments.
With 64% of consumers saying they would downgrade or cancel a subscription service to pick up another, providers must provide a customer experience that distinguishes them from competitors.
You're not alone
Source: 2022 Global Payments Report
Your peers are also concerned about how to tackle this issue – and they are preparing for the future with technology investments.
The global e-commerce market is projected to grow more than 50 percent through 2025 to reach over $8 trillion in transaction value.
You're not alone
Consumers are using a variety of alternative payment methods. Digital wallets lead the way and are projected to rise to 52.5% of transaction value in 2025.
Your peers are also concerned about how to tackle these issue – and they are preparing for the future with technology investments.
You're not alone
Source: Global Banking and Finance Review
Your peers are also concerned about how to tackle this issue – and they are preparing for the future with technology investments.
While 70% of business leaders say subscription business models will be key to their prospects in the coming years, 22% are unsure how to proceed.
You're not alone
Source: Forbes (2021) A Challenge For Video Streamers Will Be Keeping Subscribers
Your peers are also concerned about how to tackle this issue – and they are preparing for the future with technology investments.
With 64% of consumers saying they would downgrade or cancel a subscription service to pick up another, providers must provide a customer experience that distinguishes them from competitors.
You're not alone
Source: 2022 Global Payments Report
Your peers are also concerned about how to tackle this issue – and they are preparing for the future with technology investments.
The global e-commerce market is projected to grow more than 50 percent through 2025 to reach over $8 trillion in transaction value.
You're not alone
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