Companies reach the limit of their growth due to a lack of a payment structure that can handle the demands of the business. This involves both technology and people.
The market has evolved significantly in the last 10 years, presenting a much wider range of solutions and services. Pix and digital wallets, for example, are recent developments .
I make an analogy that I consider appropriate: just as the heart pumps blood to the entire body, payments drive the financial flow that keeps a company alive. If the heart stops, the body collapses; if payments fail, the digital business can go bankrupt.
The payments specialist plays the role of the cardiologist. They analyze the “heartbeat” of payments, identifying possible arrhythmias, and define the path to healthy progress.
I bring up some common pain points of companies regarding the payments ecosystem before addressing the role of the payments specialist.
Functionalities
As they say, “It’s rare, but it happens a lot:” the functionalities available on the chosen payment platforms do not meet what the expanding business needs.
Imagine a B2B company with several units or physical distribution centers spread across the country. All sales occur on the company’s official website, but the amount needs to be allocated to a specific unit, where the product will come from stock.
The solution, which we call “automated payment splitting”, is essential for this type of operation. Without it, the total sales amount is credited to the marketplace’s account, which then needs to manually transfer it to the unit.
Robustness
Payment solutions need to be robust and stable.
On important dates for retail, such as Black Friday, or during a live commerce event, for example, the peak of website visits increases, and the technology needs to handle a large volume of simultaneous payments.
Failures can result in the loss of investment made in marketing campaigns, in addition to being a decisive factor for many customers to simply stop buying from your store.
Security
A secure payment processor is essential.
A 2024 survey by Opinion Box showed that 22% of consumers abandon their carts if the website or app does not provide security at the time of payment.
The platform needs to comply with security standards, such as PCI DSS, ensuring the reliability of sensitive data, in addition to complying with the regulations of regulatory bodies, such as the Central Bank.
Customer Service
You only realize the lack of something when you don’t have it.
To avoid failures (which are possible, even on an excellent payment platform), having a payment processor with agile and competent customer service is essential for your peace of mind and to mitigate any impact on conversions.
Conversion
All the points mentioned above influence the conversion rate. The conversion rate, measured between the user’s choice of payment method and the successful completion of the payment, is one of the most important metrics for e-commerce.
The higher it is, the more effective the marketing investment. A company with a high conversion rate can invest more in marketing, with equal or better profitability than the competition, and with that, dominate the market.
What is the Role of the Payments Specialist?
Given the complexity of the operation, the payments specialist becomes essential: someone with in-depth knowledge of the market and who is attentive to growth opportunities, implementing efficient strategies to delight and retain customers.
It should be someone who thinks big and understands the big picture but is equally obsessed with the smallest details.
Many companies do not realize the importance of the attentive eye of the payments specialist until it becomes a limiting factor for business growth.
Whether you have a B2C or B2B company, as it becomes increasingly digital and global, payments inevitably sit at the center. Expanding sales channels, including WhatsApp and social media, or creating a subscription club, are examples of successful strategies when payment technology and the attentive eye of a specialist are connected to your business.
Tip: In this episode of PBtalks, we address how already consolidated companies can boost their sales with technology and the importance of payments in this process.
Speaking of global companies, it is also necessary to consider localization, as this impacts the relationship of your consumers with your brand — and a payments specialist can guide you not only in the choice and implementation of solutions but also in legal aspects.
It is necessary to understand that payments go far beyond simple transactions: they are the point of contact that unites your technology, the set of products, and the financial flow. And the one who “ties” all this together is the payments specialist.
Conclusion
As digital payments have proliferated and e-commerce has become popular, businesses need specialists who can handle their complexities, solve problems quickly, and, crucially, optimize performance and take advantage of the growth opportunities that come with the smart deployment of digital payment strategies.
Companies that leave payments in the background are unwise. This needs to be part of the business strategy from the beginning, when they are thinking about the products, the website pages, and the brand communication. The ambition to provide an excellent shopping journey, combining payment technology with the expertise of the specialist professional, must be the focus of businesses that want to grow in the digital space.
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