Fashion and accessories merchants face unique payment challenges, some of which can make or break their success in a highly competitive environment.
Access to brands online means that businesses have to work harder than ever to deliver a perfect customer experience in order to capture customer loyalty. Achieving an optimal payment strategy is complicated due to various factors, including seasonality, fluctuation in approval rates, omnichannel complexities, refund and chargeback processes, and rising costs. Furthermore, in a world where fashion transcends borders, merchants may encounter cross-border payment complexities, such as currency conversions, alternative payment methods (APMs), and nuances in local payment strategies.
With CMSPI’s extensive experience in collaboration with some of the world’s largest fashion and accessory merchants, we are uniquely equipped to effectively benchmark performance across diverse payment profiles, channels, and regions. By leveraging the CMSPI Platform, our unparalleled data lake, and industry expertise, we empower fashion and accessory retailers with insights and world-class strategies to effectively address their payment challenges, ensuring an optimal arrangement for merchants and a seamless global payment experience for customers.
Making Data Deliver eCommerce Growth for a Large International Apparel Retailer
Our team achieved significant cost savings and accelerated growth by harnessing the power of data through Smarter Payments Intelligence.
“In the first 12 months of our engagement with CMSPI, we’ve worked together to generate an improvement in our e-commerce approval rates across markets. CMSPI’s ability to identify new opportunities in our data using their technology and implement solutions by working directly with our suppliers and issuing banks, was the key driver behind these improvements. We continue to collaborate with CMSPI to support our ambitious online growth strategy.”
“CMSPI operated as an extension of Victoria’s Secret’s payments team, providing expertise and peace of mind in our payment arrangements. By leading negotiations on our behalf, CMSPI enabled Victoria’s Secret to significantly improve our debit routing incentives, driving high six-figure annual savings while maintaining our key payment strategy for stores.”
“Since 2015, CMSPI has been a key strategic payments partner for A&F Co. With CMSPI’s guidance, we have worked together on projects that have increased revenue. We have also received support on cost reduction initiatives across our international payments arrangements. CMSPI provides invaluable expertise and we look forward to continuing our partnership.”