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How payment transformation creates competitive advantage
New research from Barclaycard Payments reveals payment transformation strategies and priorities vary by industry.
Most important payment methods in the next two years
according to senior executives at business of ÂŁ10mn+* annual turnover
Overall
Different industries are also focusing on different payment technologies.
Payments technologies businesses are most likely
to invest in during the next few years
Overall
Changing customer preferences are creating both challenges and opportunities for UK businesses.
0%
agree that
Changing customer preferences are having a negative impact on their business as they struggle to respond quickly enough
How, where & when...
customers pay is an important part of those preferences. That is why many businesses are prioritising payment transformation â to ensure they can adapt to shifting needs.
0%
agree with the statementPayment transformation is at the heart of our customer experience strategy
Mobile contactless transactions above ÂŁ100 were up 109% in the UK in 2022**
In addition to payment preferences, personalisation is crucial, alongside security and the chance to save money.
0%
Trust and Safety
0%
Personalised experience
0%
Opportunity for savings
Respondents who say these elements are in the top three most important aspects of a payment experience to their customers.
The payment ecosystem is evolving, but it gives organisations an opportunity to improve the customer experience â and win new business.
Understand your customer preferences and expectations.
Use data effectively to help shape future payment trends.
Create a payment strategy to gain competitive advantage.
Discover further insights
from Barclaycard Payments
Read Morefrom Barclaycard Payments
*In December 2022 and January 2023, FT Longitude and Barclaycard Payments surveyed 500 senior UK business leaders (C-suite and C-1 level), at organisations with an annual turnover of at least ÂŁ10mn. The research sought to understand leadersâ strategies, aims and ambitions in the payments space.
