How to provide the best payment services during peak season
Singles’ Day, Black Friday, Cyber Monday, Boxing Day…
How to provide the best payment services during peak season?
The month of November is an important milestone for most retailers: it is a foretaste of end-of-year festivities. This time of the year gathers key shopping dates around the world:
- “11.11 Global Shopping Festival”, also known as Singles’ Day, is an online massive shopping day held on November 11th. This celebration appeared in China circa 1990 to celebrate individuality. In 2009, tech giant Alibaba marketed the whole concept and grew it over time to become the largest festival in terms of payment transactions and revenues (the event exceeded repeatedly Black Friday and Cyber Monday combined).
- Black Friday is the day after Thanksgiving that is regarded as the beginning of Christmas shopping season in America. The Black Friday shopping concept is internationally recognized as it has been introduced in other countries over the years.
- Cyber Monday is the Monday after Thanksgiving holiday in the US. Since inception, online retailers across the world promote their website with dramatic discounts to increase their sales.
- Boxing Day, originated in the UK, is the day after Christmas. Merchants allow price reductions to boost their revenues. Recently, retailers expanded their deals to “Boxing Week”.
The above-mentioned concepts have become international marketing terms that spread worldwide to publicize discounts. Although shopping trends tend to go “greener” (with more mindful shoppers, having sustainability issues in the top of their minds), these global mass shopping phenomena keep growing in terms of volume or value.
When shopping, consumers are expecting immediacy and want to avoid the never-ending lines, which is why, during this busy shopping days, ecommerce spending grows more than brick-and-mortar spending (source: eMarketer). However, in-stores spending value remains higher (compared to online).
To make the most out of these marketing campaigns, retailers need to ensure the best possible customer experience. One key element is the check-out process, including the payment. To process payments, retailers, banks and processors rely on authorization servers that need to keep up with the pace of frenetic shoppers: payments must be fast and secured.
This time of the year is critical for many of the retailers and their banks, which is why they need to work with the best possible technology partners to help them manage seamlessly peak activity period. To avoid disastrous scenarios – such as systems down, response time too long, slowness while processing, high usage of the server resources, activity breaking during a crash, etc. – authorization servers must be reliable, scalable, resilient and responsive with a very short response time.
HPS performed a benchmark to measure its authorization server performances. PowerCARD-Switch proved once again its leading position on the market. With an average authorization response time below 70 milliseconds, HPS guarantees the best response time to its customers and increases a business ability to quickly and intelligently respond. PowerCARD is scalable (PowerCARD supports additional nodes and still provides the same response time) and resilient (other instances can back up if any problem arises) to allow the continuity of service.
To learn more about PowerCARD-Switch capabilities and how HPS supports mission critical businesses please contact firstname.lastname@example.org.