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Transcript
Because of the type of retailer that we service being the higher end clothing shoe sports in the luxury markets, credit card payments are essential because the average ticket is very, very high. The ease of the solution, the stability of the solution, the speed of the solution becomes essential because our clients are very much about the white glove customer experience and the credit cards have to complete that experience that we’re trying to deliver to them. One of the integral elements of the relationship that we’ve had has been the role of the partner, what is now called the partner success manager. This is the executive that we work with who sort of owns the relationship from the Worldpay side and is responsible for ensuring that we’re successful together. They take what is otherwise a very large company and they help us sort of work with, Worldpay as if it’s a small company in the sense that sometimes we have urgent issues. We can text them; we can call them. They’re very responsive and they know how to navigate the organization and make sure that something gets resolved quickly and they’re able to do that. We have a very, very high average lifespan of a client. It’s north of 10 years and there are many reasons for it. One of them is certainly that our service is very sort of old fashioned and personal in terms of how we get to know our clients and how we take care of them. But another thing that helps a lot with retention is the payment solution. People want peace of mind, and we can’t deliver peace of mind when it comes to payments if we don’t have the ability to manage the payments. Worldpay has given us tools such as a tool called SightStream that allow us to manage almost all of the solution ourselves, allows us to act very quickly when our clients need something. And that’s what ultimately reinforces that peace of mind because the longer it takes for something to get resolved, the more nervous people get. I definitely think that the solution we have with Worldpay when it comes to payments helps us in achieving those very long retention life cycles that we have. Recently we had a number of requests from clients of ours to add a very a highly secure card on file solution which we had always resisted. But we received enough requests that we spoke with Worldpay, and we realized that there is an omnitoken solution that nowadays is very secure and actually allows us to retain our out of scope designation for PCI purposes. We worked hand in hand with the project managers on the technical side to make that happen and we actually were able to make it happen within just a few weeks. We were very happy that Worldpay was able to accommodate us that way. We are in a partnership model with Worldpay for many, many, many years. I think of it as having primarily three legs. One of them is the development side where we’re working with the technical side of Worldpay on the solutions that we’re delivering to the clients. One of the legs is the sales where we refer new prospects when they’re looking to move over to Worldpay as part of using Runit. And another area that’s very critical is the is the retention area. After so many years, it really actually feels like we’re all one company. We know a lot of the people we’ve been working with for a long time and the level of support that we receive is really stellar. I think that’s one of the main reasons that we’ve continued to work together.
