Today's digital technology allows even the smallest and most locally focused businesses to be truly global in scope. That brings tremendous opportunities - from more customers and faster revenue growth to better choices of payments vendors.
But going global also requires a fresh perspective and informed answers to a raft of new questions. Which forms of payment and mobile wallets should be supported in each market? What regulatory and compliance considerations need to be addressed? What are customer expectations in, say, Southeast Asia versus the European Union versus the United States? What types of risks do you need to guard against? Which languages do you need to support on your website, mobile app, ATMs, and in your customer centers?
The list goes on and on. And these questions confront virtually all businesses, from banks and merchants to payment networks and providers, and from business-to-business to business-to-consumer companies. With payments partners in every major market around the globe, Oliver Wyman is able to provide locally relevant expertise, regional payments knowledge, and global understanding – all at once.
Payments Plus is a regular update from Oliver Wyman where we share a sample of perspectives drawn from client work across the Payments Industry.
Oliver Wyman is a global leader in management consulting with offices in 50+ cities across nearly 30 countries. 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.
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