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.
Client Stories
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.
Making Data Deliver Global Growth in the Fashion Industry
Our payments experts and the client partnered to harness the power of data to deliver 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.”
Our industry specialists
Kate
Haller
VP, Payments Consulting
San Diego, CA
Kate is recognized in the industry for deep fashion, digital and QSR industry expertise.
Alex
Ellwood
VP, Strategic Growth
Atlanta, GA
Alex is responsible for mapping out how CMSPI can better serve CMSPI’s Global 500 clients.
Kate Haller
VP, Payments Consulting
San Diego, CA
Kate is recognized in the industry for deep fashion, digital and QSR industry expertise.
Alex Ellwood
VP, Strategic Growth
Atlanta, GA
Alex is responsible for mapping out how CMSPI can better serve CMSPI’s Global 500 clients.
Latest Insights & Events
How A Bad Payments Experience Can Put Off Good Customers
Retail has evolved incredibly quickly in 2020 and the payments industry has struggled to keep up. In this two-part series, we discuss four ways that the pandemic has impacted payments
False Declines Cost U.S. Merchants Billions Over Holidays
As consumers recuperate from an indulgent holiday period, in which $142.5bn was spent online, ecommerce merchants must take the time to examine the period’s lost sales.
Black Friday & Cyber Monday: The True Cost Of False Declines This Thanksgiving
As another stressful Black Friday and Cyber Monday season finally comes to a close, retailers across the nation heave a collective sigh of relief. U.S. consumers spent a combined $16.8 billion online this year – a 19.6% increase from 2018 figures. An event that many online merchants spend months preparing for has been and gone almost as quickly as the leftover turkey: but are merchants taking the time to thoroughly scrutinize the period’s lost sales?