Nuvei’s Yuval Ziv recently sat down with guest speaker Lily Varon for an interview to discuss what they see shaping and driving business decisions when it comes to meeting today’s evolving merchant needs with tomorrow’s payment platform.
Lily is a senior Forrester analyst focusing on the payment strategies and technologies global firms need to win, serve and retain customers in the age of digital business.
As Nuvei President, Yuval leads worldwide product, sales, marketing, client engagement and AI-led capabilities.
In recent years we have seen major disruptive innovations coming to market, many offering a standardized rather than flexible one size fits all approach. Fragmentation is increasing across the global landscape and merchants looking for smarter ways to help them keep their customers and attract new ones particularly across areas such as data accessibility and the power of partnerships. At the same time, addressing business needs across markets and regions globally and locally have become more important.
In the interview, in discussing the increasing strategic importance of payments, Lily highlights how payments have moved from being seen as a cost center to a revenue driver and become a way for firms to enable new business models, increase conversion and increase basket size.
“… there are sort of two things happening at once where finally in some strategic markets there is more digital payments adoption and there is pressure for merchants to build commerce experiences that extend into these fragmented digital touchpoints … it is a really fascinating moment in the provider space.” – Lily Varon
Yuval discusses the importance of collaboration, providing more payments choices and enabling customized innovation with data insights to help businesses in high-growth verticals explore new ways to grow with existing customers and push into new markets and geographies. Amid this, transparency is key in terms of cost, the method of payment flows and how to improve them while working with the merchant using real-time data to determine what actions to take to deliver a better payment experience for both business and customer.
“We are handling the last milestone, but maybe the most important milestone – the financial aspect of the transaction, the whole shopping experience.” – Yuval Ziv