Emcee Singapore : Charmaine hosted an Ayden podcast titled “Driving payment-fueled growth”, together with experts from businesses in the Asia-Pacific (APAC) region on how leading brands are starting to recognise payments as a strategic revenue enabler.

In this episode, Charmaine kicked off the discussion on how our experts look at payment solutions and explain how APAC brands are leveraging payments as a strategic growth enabler to boost revenue, inform business decisions, and grow loyalty. 

Charmaine also discussed why having an innovative payments provider makes scaling a business easier and how to pick the right partner for your ambitions. 

When it comes to payments, Amber Bienfait, Adyen’s Global Commercial Lead for Digital said, “If a customer is trying to make a payment and a payment doesn’t go through for whatever reason, they’re likely to abandon their purchase. Customers do not tolerate any friction in the process.”

Josh Bell, Principal at quick service and casual dining chain, Guzman y Gomez in Singapore, says that when it comes to customers of quick service restaurants or QSRs, the payments process is crucial. These customers, he points out, want a painless and seamless experience.

For Scott Meneilly, the former CEO of franchises, Sushi Sushi and Retail Zoo, the right payment solution provides value in numerous ways.

Tracy-Maree McGrath, Manager of Product Management and Global Payment Strategy at Oracle Hospitality thinks that it’s important to offer as many payment types as possible, that’ll help you bring in more sales. If you’ve got a guest that can only accept a UnionPay card, they’re not going to come to your hotel if you don’t accept UnionPay. So it’s important to have as many as you can. Certainly, we see this shift to digital payment methods as well.

Also key to boosting revenue is the ability to offer dynamic currency conversion for customers paying with foreign cards, as is the solution that allows for integrated payments.

“So having the payment already embedded in your customer journey, then you can think about – can they really afford it? Do they need insurance for what they purchased? So that’s embedded insurance. If they can’t afford it, can a partner with other lending, or if you have a very healthy balance sheet, that you can lend on it as well?” says May Lam, Asia Pacific Payments Leader for EY.

Charmaine concluded the podcast stating, “As we’ve heard the right payment solution provides a seamless experience for customers, generates valuable data insights for brands, and opens up new opportunities for companies to grow. It adds to the bottom line and also boosts customer loyalty. Also important is choosing a provider with strong global coverage.” 

Listen to the latest episode of our podcast, Behind the Figures, today: Behind the Figures Podcast S2 Episode 5 – Adyen