TALKING

AI-assisted decision-making and accurate reporting and reconciliation have eliminated payment friction , so the customer experience has been improved .

Today , we tend to think in a cloud-first way , but a simple cloud migration may not fulfil all the needs of the business .

What if a mission-critical system currently hosted on on-premises servers cannot be easily migrated ? A prime example is an in-store POS system . Another is hardware closely tied to a specific payment service provider tied to a contract that has years left on the clock .

Even if the contractual obligation were absent , replacing the current system could entail billions of dollars in change projects , after which the cloudnative version might introduce multiple unforeseen pain points .

Partnering with specialists

The lesson from these considerations is to take a beat and map out the payment landscape unique to the business before charging ahead with the launch of value-added services such as credit cards and loyalty programmes . Consult with technology and financial services specialists on the initial phases . They will be invaluable in identifying risks and opportunities , and formulating approaches on how to manage them .

The typical UAE retailer is what Endava calls a Star Retailer , an intermediate-to-high level of industry maturity characterised by a single brand and territory , multi-language and currency support and multiple supported payment methods . The Star Retailer operates national delivery and collection points and offers mobile and desktop websites with detailed product data , and enhanced search with content linked to products .

Also on offer is a high degree of personalisation , with purchase recommendations as standard and the option to rate and review experiences and products . Most retailers in the UAE fit this template and most will therefore fit a specific roadmap for connected payments . But they still must evaluate this alongside financial and technology specialists to ensure every box is ticked before taking any steps toward implementation .

Moving forward

It is worth taking this time to plan because the results of a successful implementation , with a technology partner that understands the challenges , vision , and market at play , are extraordinary . AI-assisted decisionmaking and more accurate reporting and reconciliation have eliminated payment friction , so the customer experience has been improved .

The business can respond proactively to changing payment trends . The retailer can join forces with third parties to offer credit , loyalty benefits , and other financial services in-store and online , which enhances the value chain . And such offerings can lead to increases in average basket value , checkout conversion rates , and engagement with personalised loyalty schemes , all while minimising the cost per transaction .

The modern retailer simply cannot afford to ignore the connected payments proposition . There are too many upsides . While implementation is not without struggle or risk , proper management and association with the right specialists can ensure a smoother transition into a futureready business that is a cost-cutter and a crowd-pleaser . p

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