Welcome

Owning your payments journey: Future proofing ecommerce payments with Open Banking

Sponsored by TrueLayer
Wednesday, 4th September 2024
Brasserie of Light, Selfridges

The retail landscape is being rapidly reshaped by the Open Banking revolution, presenting an urgent opportunity for retailers to transform their payment processes and enhance operational resilience. With over 10 million users in the UK, leveraging Open Banking is no longer just an option – it's a necessity for driving growth, slashing costs, delivering superior customer experiences, and fortifying against potential disruptions. As demonstrated by the global outage in July, retailers must be prepared for whatever incidents may occur, making robust, diversified payment systems crucial.

Today's competitive economic climate demands immediate action: retailers must adapt to Open Banking to streamline operations, reduce transaction fees, and provide frictionless customer experiences from browsing to checkout. Embracing this change is key to gaining a competitive edge, ensuring business continuity, and driving sustainable growth in an increasingly digital and unpredictable marketplace.

The swift adoption of Open Banking in online and mobile shopping is also creating new opportunities in loyalty schemes, payment systems, and marketing techniques, while also offering enhanced security and stability.

This Retail Systems roundtable event, sponsored by TrueLayer, will bring together senior industry peers to discuss the immediate impact of Open Banking on ecommerce, providing crucial insights into how this technology is revolutionising checkout processes, operational efficiency, costs, and customer experiences.

Topics for discussion:

• Where do you see customer experience hurdles at your current checkout?
  
  
• What are the critical steps for building a resilient and future-proof payment strategy?    
  
  
• Beyond lowering transaction fees, how can retailers cut costs linked to conventional payment methods?
  
  
• How can open banking address current checkout hurdles and significantly reduce basket abandonment?
  
  
• What immediate strategies can effectively leverage open banking to go beyond traditional payment methods?
  
  
• How can retailers use the enhanced data access from open banking to create effective, personalised incentives that increase customer loyalty?
  
  

Timings for the evening:
18:30 – 19:00            Welcome and refreshments
19:00 – 20:00            Introduction to fellow guests and roundtable discussion
20:00 – onwards      Complimentary three-course dinner

Brought to you by Retail Systems