Maintaining market relevance, keeping bottom line healthy and continuing to grow customer value are focus points for both incumbents and new players in the Telecom industry.
Customer engagement, customer journeys and reducing costs are quite the pain points for the whole market.
Most Telecoms have a large customer base but it is hard to increase number and frequency of interactions with users. It is difficult to keep up with the expectations of customers for seamless digital journeys that other companies are setting. Navigating high inflation rates and high operational costs is also a great threat to success.
Embedding convenient and flexible mobile payments solutions that customers are likely to use on a daily basis can significantly increase engagement.
Customers nowadays prefer end-to-end experiences and expect transaction capability to be instant, invisible and flexible. Adding a fully functional payment account with an IBAN and a debit card (whether that’s virtual or plastic) will be the perfect value added service to your existing offer. The cards can be added to Apple Pay and Google Pay for even better usage convenience. Account loading will also be quick and convenient via other card (through vPOS). A perfect addition to product value could be P2P payments in multiple currencies, utility bill payments for Bulgaria.
As a telecom, with those tools, you can significantly reduce costs by improving collections processes, optimizing payments systems, reducing manual interventions, and card transaction costs. Let’s also consider the additional line of revenue that is going to emerge through card transaction fees.