Shoe Store Chain
We worked with the shoe store chain to conduct a complete review of its payments arrangements for its European estate, including merchant acquiring, cash in transit, cash processing, DCC and tax-free shopping cost lines.
This client is an international corporation that owns and operates a chain of over 1,500 shoe and accessory stores in 90 countries, serving more than 200 million customers every year.
This client engaged with CMSPI to conduct a complete review of its payments arrangements for its European estate across its merchant acquiring, cash in transit, cash processing, DCC and tax-free shopping cost lines. Prior to meeting with CMSPI, the client’s internal team had already undertaken an internal review on payment costs and had identified some opportunities to achieve savings. Following preliminary conversations on the additional value CMSPI could bring to internal evaluations, the client agreed to a CMSPI holistic review across all payment supply chains.
CMSPI Solution
CMSPI began by conducting a forensic analysis of the client’s entire payments supply chain. Using its proprietary Pinpoint:Cash software suite, CMSPI was able to assess the end-to-end cash processes, both internal and external, creating options for the optimal balance of cost, cash-flow and risk. This included rescheduling cash in transit collections, improving cash-flow and highlighting areas for commercial cost reductions with both the cash in transit provider and bank. Once the internal processes were optimised, CMSPI was then able to negotiate market leading commercials to suit the client’s requirements.
When analysing the client’s merchant acquiring arrangements, CMSPI’s Pinpoint:Cards software was used to breakdown the underlying costs of the blended Merchant Service Charge to identify potential reductions in the interchange, scheme, and acquirer fees. CMSPI led a direct negotiation with the incumbent supplier to ensure that each element of the charging structure was optimised and all regulatory changes were passed on in full to the client’s advantage.
CMSPI achieved a six-figure reduction of the client’s payments budget across the European estate with no change to operations.
In addition to the immediate savings, CMSPI has also provided opportunities for further future benefits as and when the client is able to make some minor operational changes and also ensured it is now properly placed to take advantage of all of the numerous interchange changes occurring across Europe.
Shoe Store Chain
We are extremely pleased with the work that CMSPI have done for us. I’m delighted to confirm that CMSPI achieved 6-figure savings for us across our stores in Europe in addition to savings.
The results CMSPI produced went beyond our expectations and we have since engaged CMSPI further to review our North American arrangements. We now consider CMSPI to be our ‘go-to guys’ on anything related to merchant payments.