How can you improve your understanding of the customer journey in Payment Systems?

By combining these strategies, We can gain a comprehensive understanding of the customer journey in payment systems and continuously enhance the user experience. Improving my understanding of the customer journey in payment systems is crucial for providing a seamless and satisfying experience for users. Here are several strategies We can employ: 1.Customer Surveys and Feedback 2.User Testing 3.Customer Journey Mapping 4.Analytics and Data Analysis 5.Customer Support Interactions 6.Social Media Monitoring 7.Competitor Analysis 8.Cross-Functional Collaboration 9.User Personas 10.Regular Updates and Improvements

In my experience app store reviews are a good way to gain feedback on your customers and the way they are interacting with your journey. Secondly analytics done via heatmaps can also show which areas of your ui/ux customer is interacting most with and can be used to gather feedback and improvise on the journey to meet specific customer needs

You can consider these as well Multiple Touchpoints: Identify all touchpoints where customers interact with your payment solutions, including online platforms, customer service, and physical locations if applicable. Emotional Mapping: Alongside each step, consider the emotional states of customers. Understanding their emotions helps tailor interactions and improve satisfaction.

In my experience, mapping out customer journeys easily takes on the happy path, to truly improve the experience it’s important to include what happens when things don’t go as planned, often enough this is where a lot of improvement opportunities are.

A good starting point would be to 1) Conduct surveys for the payment experience in the app or 1:1 interviews. Explore the pain points, expectations, and motivations on each touch point. Reach out to customer support to understand queries they are receiving 2) Leverage data to analyze the relevant metric. Implement mobile or web analytics tools to monitor the action completion or conversion rates at different process stages. 3) Conduct usability testing with real users to observe how they interact with the UI. 4) In-depth analysis of competitors to see where you can differentiate and keep on monitoring prevalent industry best practices and advancements. 6) Coordination with UX to implement improvements iteratively.

in my opinion you should identify emotion and pain points. Start by listening actively, noting specific details. Look for patterns and connections within the narrative to understand the customer's journey. it helps you to understand the customer and get valuable insights

Also understand that payment systems are generally retail and involve the natural social interactions of customers. So, understand the impact of factors like culture, GDP, etc. Also conduct network analysis to further drill down.

When analyzing the customer journey, consider the holistic impact of user experience on payment solutions. Beyond traditional KPIs, delve into qualitative data like user feedback and support interactions. This qualitative lens provides nuanced insights into customer sentiments, pain points, and delight triggers, offering a comprehensive view to refine and optimize payment experiences effectively. Understanding these nuances allows for targeted improvements that align more closely with customer expectations and satisfaction levels.

A great way to optimize the customer journey is to use your own experience as a client. Your expectations in terms of payment process, security, logic...can be used to improve what you propose as a payment acceptor especially when you have a certain category of customers who maybe are not so familiar to payment instruments.

A/B tests can be helpful here. And recommendation systems based on the results of the optimization process can add some value too.

Consider bringing together a cross-functional team consisting of members from marketing, customer support, product development, and data analytics, you benefit from a comprehensive and diverse approach to examining customer journey data. This joint effort provides a well-rounded perspective, empowering your team to extract valuable insights and make informed decisions, thus facilitating the ongoing enhancement of your payment solutions.

Learning from the customer journey helps in making your payments solutions better and implementing new features. The best way to do this is when you can receive feedback from your customers and who better to start than your friends and family. You can also implement VOC surveys in which the customers can provide their honest feedback.

First of all, we must understand that context is very important in this subject. Consider a scenario where a large portion of the market share is locked in an environment that is not advanced in terms of technology. We need to consider inclusive options of getting reliable and actionable feedback. Consider options like incentivizing feedback both electronically and manually and always remember align with the business question.

Collaborating on the customer journey involves more than just internal teamwork; it's about fostering partnerships across all stakeholders involved in the payment ecosystem. By collaborating with external partners, including payment processors and technology providers, you can leverage their expertise and insights to enhance your payment solutions. This collaborative approach ensures alignment of goals and strategies, improves solution quality through shared best practices, and fosters innovation by tapping into diverse perspectives and experiences within the industry.

In general depends of the industry the companies are operating. For start you need to gather all the information from the payment provider (countries, currencies, overview of the payment, user flow experience, if its a close loop or open loop). Most importantly the education needs to come to the front line people (support and payments executions), then the rest. It's crutial for the company to be able assist their customers in a professional way in order to engage the satisfaction and retention.

When it comes to payments solutions at the retail stores or offline payment solutions, educating your retail store staff about how the entire solution works helps in the E2E process. They are the people who interface with the customers on daily basis, if they understand the solution they can help the customers during their journey and seek feedback for improvement and things that are good in the solution. Having a knowledgeable site staff helps build the trust and confidence of the customer in your solution.

From me experience, cost wise, it is smart to include lawyer from the beginning of the consumer journey design process, when thinking about introducing services to the EU customer. When improving your understanding of the customer journey in payment systems when providing services within the EU, you can not forget about compliance and security assessment. UX has to be seamless and simultaneously compliant with the consumer regulations (both EU and local level), GDPR, AML (both local and EU level) or PSD 2 (and local payment regulations) and other sector regulation that might apply.