2023年商人之声研究

CONFIDENTIALITYOur clients’ industries are extremely competitive, and the maintenance of confidentiality with respect to our clients’ plans and data is critical.Oliver Wyman rigorously applies internal confidentiality practices to protect the confidentiality of all client information.Similarly, our industry is very competitive. We view our approaches and insights as proprietary and therefore look to our clients to protect ourinterests in our proposals, presentations, methodologies, and analytical techniques. Under no circumstances should this material be shared with anythird party without the prior written consent of Oliver Wyman.© Oliver Wyman © Oliver WymanEXECUTIVE SUMMARYThe typical transaction lifecycle serves as the “organizing framework” for the report•Consumers’ willingness to usenon-bank payments and financialservices (FS) products is growing -prompting merchants to alsodiversify their offerings•Both proprietary and third-partyshopping channels continue togain traction, with over 60% ofmerchants supporting three ormore channels; self-checkout hasthe highest customer penetration•Merchants are increasinglyadopting a strategic approach topayments, expanding beyondcost- and operational-relatedactivities to drive the business•Payments technology andinfrastructure are at the core ofmerchants’ transformation, withorchestration and tokenizationbeing top-of-mindKey themes at each “hop”18Use payment cardReceive goodsCustomerBuys goods or services fromthe merchant through a point-of-saleMerchantSells goods or services to thecustomer through a point-of-sale(accepting multiple card types)As the payments space continues to evolve rapidly, this report explores the changes happening at each step across the payments value chain. •In a bid to address some of thepain points and sources of friction(e.g., cost, outages withoutresiliency), half of all merchantshave opted for multi-acquirerset ups•Merchants are increasinglylooking towards specialistproviders for innovation andcustomization – only 20% expectthis as the top quality whileselecting their payments providers•CNP debit routing and the CreditCard Competition Act (CCCA) aretop of mind; merchants believecompetition in debit and creditwill be impactful to theirorganizations•FedNow launched in July 2023;at this early stage of launch, only~40% of merchants consider it tobe very or somewhat impactful totheir organizations•Issuer partnerships are critical toensure the success of merchants’proprietary card programs;changes in both the economics,and roles and responsibilities ofissuers and merchants aretranspiring for these offerings•Issuers play a critical role ininfluencing auth declines, drivingmost auth declines outside offraud pre-screening3465Routes to networkSwitches to card issuerIssuerauthorizes transactionAuthorization sentto providerMerchant Services ProviderProcesses/settles the transaction formerchantsCard IssuerProvides the card account(and credit, in some cases)to the consumerNetworkRuns the “payment rails” used totransmit transactions betweenacquirers and issuers 27Sales data transmittedAuthorization sentto merchant 3 © Oliver WymanINTRODUCTIONContextOliver Wyman and the Merchant Advisory Group(MAG) jointly sponsored the 2023 “Voice of theMerchant” study. This is a continuation of the2022 study to examine how leading merchants aretransforming their payments ecosystems to meetcustomers’ evolving shopping expectations.The study included a survey of 50+ enterprisemerchants, followed by targeted interviewscovering the following topics:•Payments Strategy•Recent Regulatory Changes•Payments Technology and Infrastructure•Partnership Approaches•Payments Organizational StructureSource: OW – MAG Voice of the Merchant Survey 20231: includes travel, professional services, and other retailersNote: totals may not sum to 100% due to rounding © Oliver WymanSURVEYED TOPICSPayments strategy•What type of activities domerchant payments teamsspend the most time on?•What are the largestpayments-related painpoints today?•How are merchantsactively managing theirform of payment mix?•What are the primaryperformance metrics usedto measure success for thepayments and financialservices products thatorganizations offer?1 Recentregulatory changes•What level of impact domerchants anticipate forforthcoming/potentialpayments industrydevelopments?•How prepared aremerchants toimplement/capitalize onthese developments thatare driven by regulatorsand card networks?2 Payments technologyand infrastructure•What is the customerpenetration for first-partyand third-party shoppingchannels?•What tokenizationtechnologies aremerchants using for theirpayments data?•How many merchants haveor envision havingomnichannel tokenizationsolutions?3 Partnership approaches•How are merchantsprocuring variousoperational paymentservices today?•What qualities aremerchants looking forwhen partnering with anorganization for thesepayments-related services?4 Paymentsorganizational structure•How have payments tea