Corporate Buyers Need Their Suppliers’ Participation for e-Payment Program Success
Mercator Advisory Group examines why supplier enablement strategies
are needed for payers implementing automated payment programs
Boston, MA – January 14, 2014 - Gone are the days when corporate buyers dictated payment method to suppliers. What was once payers’ prerogative—determining how they paid their suppliers—is now becoming a joint decision between suppliers and buyers.
According to Mercator Advisory Group's newest report, e-Payment Program Success Relies on Supplier Enablement Strategy, merchants are loudly saying “no” when approached by their buyers to join a network and accept card or ACH for payment. Consequently, buyers are realizing that their automated payment programs are only as successful as their enablement of key merchants.
"To ensure the success of their payment automation programs, payers are increasingly engaging in creating a supplier enablement strategy and enlisting the support of industry experts to promote and facilitate conversion of suppliers to e-payment." comments Amy Hoke, Director of Mercator Advisory Group’s Commercial and Enterprise Payments Advisory Service. “Business has responded to this need by creating a new services sector completely focused on supplier enablement.”
Highlights of the report include:
One of the 9 exhibits included in this report:
- Merchant adoption of automated payments
- Barriers to adoption
- Supplier enablement targeting
- Elements of a successful supplier campaign
- Supplier enablement as a business
The report is 22 pages long and contains 9 exhibits.
Members of Mercator Advisory Group's Commercial and Enterprise Payments Advisory Service have access to this report as well as the upcoming research for the year ahead, presentations, analyst access and other membership benefits.
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About Mercator Advisory Group
Mercator Advisory Group is the leading, independent research and advisory services firm exclusively focused on the payments and banking industries. We deliver pragmatic and timely research and advice designed to help our clients uncover the most lucrative opportunities to maximize revenue growth and contain costs. Our clients range from the world's largest payment issuers, acquirers, processors, merchants and associations to leading technology providers and investors. Mercator Advisory Group is also the publisher of the online payments and banking news and information portal PaymentsJournal.com.