Unlock the full potential of your payment solutions. Experience immediate value generation without the hassle of upfront investments or risks. It's a no cure no pay commitment and our streamlined approach demands minimal effort from you or your team.
I would like to get a free 📞 consultation about the PSP benchmark service
I would like to get a free 📞 consultation about the PSP RFP (tender) management service
I would like to get a free 📞 consultation about the checkout flow optimization service
Service options and project approach
Option A
Cost and performance optimization of the payment solution
Examining your payment solution for costs and functionalities can lead to substantial savings. These savings directly impact your bottom line. EcomStream’s insights often serve as an eye-opener for clients, revealing missed opportunities that should have been transparent and straightforward for years.
EcomStream can perform the following:
Assessment of current contracts with payment service providers – examining rates and fees.
↓
Cross-checking of payment service provider contracts with the actual invoicing.
↓
A comprehensive forensic audit of your current pricing and invoicing structure. The intricate cost breakdown for payment methods often hides unnecessary charges that have been applied (often unnoticed) for an extended period.
↓
Evaluation of your payment mix and an assessment of PSP features to ensure you’re not losing out on conversions due to the absence of relevant payment methods or other available features in your checkout.
↓
Managing renegotiations with your current payment service provider on your behalf. You’ll be kept informed throughout the process, with the goal of securing a significantly improved renewal contract with the payment service provider.
↓
Thoroughly reviewing the renewed contract. Is the fine print unchanged? Are the new rates accurately implemented?
○
Cost and performance optimization projects of payment solutions are performed on a no cure no pay basis. Clients have the option to choose regular (often annual) benchmarking and operational strategy sessions, ensuring your business stays at the forefront of excellence.
Option B
RFP (tender) management of the payment solution
EcomStream will manage your RFP/tender project for selecting the optimal payment solution. Whether from initiation to implementation (end-to-end) or any stage in between, we tailor our services to match your preferences.
EcomStream can perform the following:
Collecting Requirements: Conducting comprehensive interviews with your internal stakeholders, including those from Business (Sales/Marketing), Finance, and IT. This process ensures a well-rounded overview and serves as the foundation for the business drivers of the project.
↓
Gathering Data: A crucial component of the business case, this involves compiling a detailed overview of relevant data points. This comprehensive dataset is instrumental in securing high-quality proposals from potential payment service providers (PSP’s).
↓
Production of RFP document: Taking you from the initial draft to the final version, this comprehensive document covers everything from business drivers and stakeholder requirements to the RFP process and expectations. It is succinct and crafted to ensure that payment service providers promptly grasp the requirements, inviting them to present solutions tailored for the best possible fit.
↓
Publishing RFP to Longlist: Collaboratively, we curate a longlist of payment service providers, comprising those aligning best with overall requirements. This list may include niche providers, specialists in a subdomain of your requirements, or ambitious scale-ups. We ensure a diverse mix to avoid missing out on any promising opportunities.
↓
Question and Answer Session: Providing payment service providers with the opportunity to seek clarifications about the RFP, enhancing the strength of their responses. This ensures there are no lingering uncertainties and contributes to improving the overall quality of the proposals we will receive.
↓
Scoring and Shortlisting: Utilizing a project-specific scorecard, we collaboratively establish a shortlist of payment service providers.
↓
Payment service provider presentations: Engaging interactive F2F sessions or conducted through Teams or Zoom. Shortlisted payment service providers will showcase their solutions, allowing for an in-depth exploration of the subject matter and their proposed solutions.
↓
Negotiations and thorough legal reviews: Our focus is on securing not just a deal, but the best deal in the market perfectly tailored to meet your objectives.
↓
(Optional)
Implementation, Onboarding, and KYC Support: comprehensive project management throughout the implementation of your payment solution, ensuring a seamless onboarding process with dedicated Know Your Customer (KYC) support.
↓
(Optional)
Post implementation nurturing. Our commitment extends beyond implementation. We guarantee the fulfillment of Service Level Agreements (SLA) and meticulously track and check invoices, providing you with peace of mind and a thriving, hassle-free experience.
○
This established process is a proven methodology, assuring you the acquisition of the ideal solution. We guarantee securing it at the most competitive price, precisely tailored to fulfill your unique business requirements.
Option+
Checkout flow optimization
Given that your checkout isn’t entirely within the realm of the Payment Service Provider (PSP), EcomStream introduces an additional “plus” option. Going beyond payment solutions optimization (options A and B), this option+ ensures your checkout aligns seamlessly with the latest customer expectations and incorporates (conversion-boosting) gamification techniques for full optimization.
EcomStream can perform the following:
Assessment of the existing checkout procedure and user experience (UX), spanning from the shopping cart to the “thank you” page.
↓
Following the assessment, you’ll receive a concise and actionable usability report, presenting findings and recommended enhancements. These insights draw primarily (though not exclusively) from the extensive and respected knowledge bases of Nielsen Norman Group and Baymard Institute.
↓
Consultation/Clarification Calls: Engaging sessions to provide further insights into the rationale behind the findings and recommendations outlined in the usability report.
↓
Project Management: EcomStream is flexible to collaborate with your chosen implementation partner or your internal team to seamlessly implement checkout optimizations.
↓
Checkout Flow A/B Testing: The real test lies in the results. Testing validates the actual performance of optimizations or dismisses them if they fall short of expectations.
↓
Post-implementation clarification calls and continuous support.
○
Client video testimonial
Client references
