An industry leading financial services (FS) payment processer recognized that the traditional acquirer model (the direct acquirer-merchant relationship) is being intermediated by a number of competing forces, namely Business Solution Providers (BSP’s), Payment Hubs and eCommerce Solution Providers – gateways, shopping carts and website enablers. This FS understood that over 30% of merchants were working with BSP’s and over 50% of the volume growth is coming from merchants linked to non-traditional channels (BSP’s, Payment Hubs, etc.).
MCG was engaged by this FS to define, build and operationalize a strategy for meeting the changing market landscape. The MCG team was embedded in the client organization and led the creation and execution oft three main phases of work:
- Operational Framework and Organizational Design
- Design and develop an organization, process, and programmatic approach to how the FS deals with technology partners in the marketplace.
- Build a Foundational Program
- Execute the defined programmatic approach focused on supporting rollout of the strategic programs and remediation of elected ISOs and PFs while integrating in-flight projects
- Expand the Scope and Refine
- Continue to execute the build of additional programs while refining and maturing the overall scope and capability of the organization and its operations.