The global client was focused on their payments arrangements, but was also determined to improve their provider relationship, increase service levels, and find a partner who could offer the same service to their customers in every country in which they operate – accounting for settlement timelines and local payment method options.
Through an exhaustive forensic audit, our payments experts discovered the client was significantly overpaying for their acquirer arrangements. Additionally, they were being overcharged for FX conversion rates (a huge cost considering the amount of multinational payments the client processes yearly). Further, the client’s processing rates were also vastly out-of-line with the market.
CMSPI specialists proposed several options and the client decided on a managed payments RFP process – engaging the market and leveraging CMSPI’s unique expertise in this area. Our payments experts fully managed the end-to-end process, negotiated rates, and SLAs.
Using CMSPI’s unequaled payments data insights, powered by the CMSPI Data Lake – trillions of data points derived from trillions of dollars in consumer spending, sourced from Global 500 merchant partners across various regions, channels, and payment providers, our specialists ensured that the client’s unique multinational business needs were met.
Our market intelligence team enhanced the partnership providing strategic insight reports on specific geographies, in addition to regional benchmarking reports, and industry update reports.
We forecast over the course of their partnership with CMSPI, the client will achieve over $35M in savings across their global estate. The competitive RFP process resulted in market-leading rates, improved service levels, and a future-proofed relationship with their payments partners – giving the client peace of mind that any future expansion plans will be optimized for their business.
The CMSPI team also provided essential ROI analysis allowing the merchant’s team to build a roadmap to opening a new entity in the APAC region. This will directly result in large cost savings, increased payments approval rates, more tailored payment methods for their customers, and considerable savings on FX and interchange rates.
We are thrilled to continue this long-term partnership, helping the client meet their needs for future entities in the coming months and years.
“The collaboration between CMSPI and our client highlighted the synergies that can be created between a global, digital native business, and the deep payment expertise of our team. While we are satisfied with the value driven to date, the strategic roadmap that we have built with our partner is poised to deliver significant incremental value in the years to come.”