How to prepare your business for peak season

In sports and retail, the best teams and companies can only peak a certain number of times a year. And they must be fully prepared for these crucial moments.

Adyenthe unique financial services platform behind some of the world’s largest companies, is acutely aware of this.

With offices around the world, Adyen works with Uber, H&M, eBay and Microsoft, and has proven to be at the forefront of fintech.

Adyen’s highly flexible financial technology platform and state-of-the-art systems deliver end-to-end payment capabilities, data-driven insights and financial products in a single, holistic solution. In doing so, it helps companies achieve their ambitions faster.

The company, which is a sponsor of the 2022 Tour of Britain road race, stands back when working with the companies it partners with, able to adapt to their needs almost as quickly as a simple switch.



Warm welcome: a client is welcomed to the Adyen office in Amsterdam


Christmas is the watershed time for retail businesses, closely followed by high-profile sales events such as Black Friday, when payment volumes explode.

In retail and major sporting events such as the Tour of Britain, every detail counts when it comes to preparing for the big day. Nothing can be left to chance, otherwise a retailer or team could quickly be left behind as the opposition takes a break. From there, it is often very difficult to recover the deficit.

“Our system can cope with any capacity,” says Colin Neil, Managing Director of Adyen UK. “We can grow it as and when we need it. We are still monitoring the volume on the platform.

“As the peak sales period approaches, retailers go through a period of freeze where they don’t want to change their systems anymore – it’s all about performing in the moment.

“We recognize that, so we have to make sure we are there for them.

“Our system is such that whenever there is a key development, we can react immediately. Take the £100 contactless limit. It was a flick of a switch for us and it became available instantly. These things are really important for retailers because they don’t have to do development work. It’s another way to help retailers reach that peak. »

The company’s research data demonstrates how important it is to have the right payments provider to run a retail business behind the scenes. But this research also shows that not all companies are ready when it comes to matching their payment systems to peak sales times.

First, there is the choice of payment methods. Adyen surveyed 500 retail decision makers in the UK and found that only 31% accepted digital wallets, including Apple Pay, Google Pay and PayPal, as a method of payment.

Second, when it comes to optimizing online payment processes, only 21% of businesses allow one-click payments or have recourse for processing digital transactions if they encounter internet or of connectivity.

Fifty-five percent of businesses have a solution in place to provide strong customer authentication to comply with payment service guidelines, while 29 percent of businesses enable customers to shop and transact Seamlessly across online and offline channels – so a customer can start their transaction on their mobile and complete it on another device.



Be prepared: Events like Black Friday can see payments skyrocket



Credit: Getty

For retailers that made it easy for shoppers to transact across both online and offline channels, the top three benefits were improved customer experience, increased customer loyalty, and increased sales. sales.

However, more than a fifth of businesses (23%) said they treat their online sales channels and physical stores as separate entities with different balance sheets.

These figures show that there is a long way to go for many. But Neil believes retailers “get it”.

“Large organizations traditionally built their own infrastructure of massively large systems, and it took them years to put those pieces together, and then they realized that it didn’t make them agile.

“What we’re seeing is small businesses coming to the fore, where this bit will take care of your warehouse management system, this bit will take care of your customer loyalty program, and they’re plugging all together. And what you see is this ecosystem of all these hybrid systems coming together, and that’s what keeps you really nimble.

“All of this means you’re not dependent on a big system like triple bypass surgery every time you need to fix it or update it. As large organizations scale, they take these smaller components that all connect together, allowing them to take one bit out and put in another and nothing else changes. This is what you see now. We want to keep the payment element as simple as possible to plug in.

It is evident that as a market leader, Adyen has a brilliant business proposition that appeals to many organizations. The beauty is in its simplicity, but achieving this position has required considerable investment in research and development.

“You have to be really honest with the retailer. We can make it easier, but there is still a lot of work to do,” continues Neil.

“What’s important is that you don’t have to say it over and over again. Yes, the technology is modern from the start, and once it’s in, it’s just configuration. This is no longer development.

“The real pitch is that once you’re in it, you’re done, you can go to all these other countries and you don’t have to redevelop. It makes us very different.

“The founders saw the complexity of accessibility and that’s what they wanted to solve. Basically, we didn’t deviate from that path. Yes, the product set grew, but that doesn’t mean that it’s more complicated.

“Our initial pitch was why you need to talk to multiple different parties in order to offer payments to a customer in all of these countries and channels. You can just talk to us.

“Now we’re having the same conversation but we’re saying why do you need to talk to multiple different companies if you want payments for all of these geographies and you need bank accounts and you need cards and potentially you have capital need. So we’re developing it from a natural evolution, but it’s still a platform.

Adyen’s Ride for Change

AAs part of his Tour of Britain sponsorship, Adyen steps into the saddle on September 11 to raise money for Change Please.

The company, which processes payments for Uber, Spotify and Brompton Bicycle, will ride the final 50km leg of the Isle of Wight stage. They will be joined by clients such as Brompton and Tory Burch and have set a target of £50,000 – the sum needed to get 20 people off the streets and back to work.

To learn more and support the cause, visit ayen.com/tour-britain

Carol N. Valencia