At Payments Advisory Group, we have extensive experience in managing selection processes for payment processing services for national and international corporates and retailers.
We are very familiar with the propositions of many of the leading payment service providers including, but not limited to:
Most recently we have successfully selected new payment service providers for:
- Ahold Delhaize, Albert Czech Republic – selection and contracting of POS terminal supplier and acquiring processing for largest retail supermarket in Czech Republic.
- Shurgard, Europe – selection and contracting of POS terminal supplier and POS & E-Commerce acquiring processing for pan European self storage company (7 countries, 3 currencies)
- Vaisala, Global – selection and contracting of E-Commerce and MailOrder/Telephone Order acquiring processing for global weather and data company (100+ countries, 6 settlement currencies)
Based on our market knowledge and extensive experience in running similar projects, Payments Advisory Group has developed template documents which allow our projects to run more efficiently and at a higher quality level to the benefit of our clients.
We would be more than happy to provide our expertise to you as well.
A selection process for new payment service provider can be part of a larger Customer Payments Optimisation project (see below) or as a standalone project.
Our proven, phased approach is as follows, and can be amended to your specific needs:
- Establishing the current ‘As Is’ situation
- Identifying your future needs / improvements
- Requirement gathering (functional/non-functional/technical/financial)
- Drafting a target ‘To Be’ situation = Target BluePrint (TBP)
- RFI Phase – validating the TBP in the market with selected vendors (longlist)
- Go/NoGo decision based on outcome of RFI confirmation phase
- Selection criteria definition and prioritization
- Business case
- RFP Phase – sending out a formal RFP document including final requirements to selected vendors (shortlist)
- RFP Response analysis & Recommendation
- Final Negotiation
- Contracting (support)
- Implementation support
Payments Advisory Group is an independent advisory company. We do not offer any payment acquiring/processing services ourselves, nor do we maintain any commercial relationship with any payment service provider, in order to provide the most objective and best suited advice for our clients.