Paul AinsworthPaul AinsworthJune 5, 2019
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2min1461

Retailers are being warned that a lack of preparedness for new EU regulations to prevent online fraud could be costly.

The Strong Customer Authentication (SCA) rules will come into force in September as part of the Second Payment Services Directive (PSD2). They will affect online purchases of €30 or more, and will require retailers, banks and payments providers to authenticate customers through something they “have”, “are”, and “know”.

While banks are largely ready for the changes, retailers have been warned that they face trouble ahead, as a recent survey by analysts at 451 Research and Stripe found that less than half of businesses polled expected to be ready by the autumn deadline.

Uncertainty over the UK’s future in the European Union is also adding to pressure on retailers facing major legislative changes while simultaneously being told to expect Brexit on October 31.

Among those urging retailers to address the issue is digital solutions firm Mitek, whose EMEA MD Rene Hendrikse said: “Sooner rather than later, retailers must recognise the need to invest in anti-fraud technologies. With the new anti-fraud rules, every customer will have to be authenticated by at least two of the following criteria: something they have, something they are, and something only they know.

“Come September, this will be necessary for every online transaction. This could include an ID document, a biometric identifier, and a security question, going beyond simply your card details as is the current standard. This introduces an additional layer of security to defend against the threat of fraud from online transactions – but it also presents a challenge for organisations to implement with only months to go.

 “Within the next few months, investing in the right technologies and implementing them quickly and efficiently should be top of the agenda for retailers and e-commerce groups. If not, they will find themselves in serious trouble.”


Ashley CarrAshley CarrApril 3, 2019
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7min1124

We’re all aware this Brexit business has caused quite a mess, leaving much uncertainty for all and tough economic times for many.

What’s typical in these situations, particularly for those feeling a financial pinch, is to batten down the hatches, grit teeth, and wait for it to pass, hoping a way forward will be easier when there is more certainty on the horizon.

The challenge with this strategy, however, is that when the dust settles, people will move and if organisations haven’t invested in making their company sticky for current employees, they will lose them when it picks up. If that doesn’t cause concern, remember that unlike in any other time of economic uncertainty in the past 20 years, there is no latent potential workforce on the market ready to replace the people you lose. There is no one on the bench.

In the coming months, there are going to be a lot of surprised and failing employers that can’t scale and will have to downsize as a result of losing people. While everyone is busy focussing on ROI, it will be those that focus on COI, the cost of inaction, that will come out on top after this dull trading period.

Consider your COI

In difficult periods, considering COI, rather than ROI, will help businesses to gain a deeper understanding of what is at stake when standing still. Doing nothing will cost a business dearly. People will leave, and unless quick actions are made, organisations may not be able to recover anyone to replace them. What would that cost be to your business? Could you survive?

The cost of inaction may not be felt today, but at the point in which the economy rotates, it will be felt then. There will come a perfect storm of suddenly having new orders, tenders, and requests for services coming through the door just as employees start walking out.

Given the background of the economy at the moment and the unsettling times that we are in, regardless of what the conclusion is over Brexit, businesses are going to fail if they don’t get this right. If they don’t act fast enough, it will be too late, there will already be an entrenched atmosphere where employees feel that they have had enough and they want to go elsewhere. So what can organisations do to stay afloat and come out of the other side?

Get sticky

Many companies think about marketing and PR as external and as activities reserved for gaining awareness in new markets or launching a product to prospects. While there is currently a trend toward marketing to new employees, it seems like no-one thinks about targeting those they currently have. However, using this powerful messaging machine to market externally, while forgetting to leverage it internally, robs the employees of the message you’re sharing to the world.

To create a sticky organisation, businesses need to make sure their employees, workforce, and colleagues understand just how good the business is. Sharing the external message internally generates excitement, making current employees inspired to be part of the dream and growth of the company. When done correctly, employees will feel this success and develop a desire to share that success with potential prospects.

What is required to achieve maximum stickiness will vary widely from business to business – but it starts with an identity. If an organisation truly knows what it stands for and what makes it unique, who they have on board, and who they want to get on board, then the initiatives should come quite naturally. Companies that wish to keep their current talent need to think about how they can keep them engaged, excited, and bought into the dream of the business – ensuring it’s a place that employees will stick with when other organisations come out, in full kit, on the hunt for talent.

Developing culture inside and out

There is too often a disparity between what companies put on their website and what is actually happening inside; this works both for those that have a poor external image and great internal culture, and those with the inverse imbalance.

The culture that an organisation projects on its website, social media, and any other channel should be the culture that a prospective client or prospective candidate meets when they come into the building. This happens naturally when the message that is dispersed externally is the same as what is spread internally.

If an organisation’s culture is real and embodied throughout the organisation, then employees will be living and breathing it anyway. This should be seen through all of the marketing activities, all the way through to any interaction with the employees of that organisation.

PR is not just an outbound strategy for prospects. It is about attracting talent and keeping talent in your organisation. Those who understand this, as well as their COI, may just have a chance of coming of this mess on top.

If it is not you, it will be your competitors. What’s your next move?


CXM Editorial TeamCXM Editorial TeamFebruary 13, 2019
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3min1381

Analysis of the UK’s top 250 retailers has found a 19 percent year-on-year increase in the number of brands offering the option to pay in international currency.

The figure forms part of an annual performance index carried out by leading ecommerce and digital agency Visualsoft.

The report examined the sector’s biggest names and found that 81 percent of these retailers are offering customers the option to pay in non-sterling alternatives. This was an increase on the 62 percent of retailers that offered international payments in 2017. The majority of these are Euros and USD, with one percent of retailers offering Yen.

The increase is likely to be a reaction to Brexit-related uncertainty in the lead-up to 29th March.

The research also found that the prevalence of innovative payment methods is increasing. For example, after only being in the market for little over a year, Amazon Pay is already being used by 10 percent of top retailers – showing clear movement towards a more diverse spectrum of payments offered.

A further one-in-10 of retailers analysed offer finance products from lenders such as Klarna – up from almost nothing in 2017. Research has found that around three-quarters (78 percent) of consumers would consider purchasing through retail finance, with the average spend of £620, so offering this type of payment could prove a fundamental avenue for future growth.

However, this appeared to be having a detrimental impact on basic payment methods. A quarter (23 percent) fail to offer a payment choice other than a mainstream credit or debit card. This has worsened by four percent year-on-year.

Dale Higginbottom, head of CRO at Visualsoft, said: “These figures suggest proactivity in the lead-up to Brexit and adoption of new payment trends, which is great to see. However, we know that up to a quarter of consumers also abandon their transactions at checkout because the retailer doesn’t provide their payment method of choice.

“Offering a wide range of options is an important way for retailers to maximise their sales potential, but too many are still not doing so – with 23 percent neglecting an offer outside of traditional cards. This inability to get the basics right could prove crucial as we move into 2019.”




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