Capability

Payments

The payments ecosystem is radically changing, driven by rapid advances in technology, shifts in consumer behavior, new payment systems and new regulations. In this rapidly evolving industry, players must quickly find their footing to remain competitive.

Oliver Wyman draws on years of industry-shaping work in the Financial Services and Retail industries, deep digital expertise and our renowned research partners at Celent, to help our clients develop strategies that capitalize on industry developments.

We see payments as a key component of the broader customer experience rather than a standalone proposition. We work with clients across the payments value chain - from banks/issuers, to payments providers, to retailers – to build growth strategies, form effective partnerships, optimize costs, and manage risk.

We actively participate in the industry dialogue, contributing our thought leadership and participating in various payments events.  

Growth Strategy

Global payment network: Developed an innovative market entry strategy for healthcare payments, built around customer journey mapping, identification of pain points, and business cases for new solutions

Major oil company: Re-priced payment transactions to deliver greater value to both the merchant and the franchisees

Partnerships

Leading merchant processor:  Designed a new go-to-market strategy to expand distribution within its target markets, emphasizing partnerships and value-added services

Large airline: Led the re-design of an airline’s co-branded credit card, growing earnings for both the airline and its bank partner

Cost Optimization

Global retailer:  Reduced payment card processing fees and developed a unified global payments operating model by conducting a global RFP and vendor evaluation

Check processor: Aligned the operating model with unit economics and established greater discipline around cost management and expense controls, to reverse declining volumes

Risk Management

Credit bureaus: Led the collaboration and data-sharing of the largest credit bureaus in the U.S. to create a more powerful and refined credit scoring model which has now become one of the primary credit scores used across the U.S. financial services industry

Large issuer: Built a new credit model leveraging detailed balance and transaction data from customer checking accounts for a large national bank

Thought Leadership

Debit card network:  Annually conduct the preeminent benchmarking study on the U.S. retail payments market, covering a sample of over 150 million cards

Banking consortium:  Drove alignment for a new card-not-present security platform in coordination with the members of a major bank consortium

About Oliver Wyman Payments

Our Payments practice works with constituents across the payments value chain to deliver insights with real impact, combining deep industry expertise with powerful consulting capabilities.

To learn more about our work, please contact one of the partners below or send an email to payments@oliverwyman.com

Payments: Our Thinking