Fintech Insights

It's all about diversity

Listen to your customers but also understand the trends and opportunities that lies ahead. Now, that’s a strong combination. We knew that we came up with a suitable, solid strategy more than two years ago. We did our homework, consumed all the insights we could think of to predict the outcome four to five years later. Then the pandemic happened. And we faced an entirely new reality. No one knew the impact of this unique situation. How would our strategy hold up to this new reality? Now, when we are starting to put the pandemic correlated challenges behind us, it shows that our predictions were solid. The pandemic did not change the course; it only made behaviours adapt quicker. Much quicker. Behaviours and demands we already saw coming.


One of the most significant changes during the past years has been increased online shopping and greater adoption of eCommerce. As always, there is a variation depending on region. But if we combine the numbers, we can see an up to 20% increase in customers preferring to purchase online. Now, eCommerce was growing pre-pandemic, but there was a significant jump in usage before and after the pandemic. Not only do we see an increase in overall use, but we also see higher adaption among people in the older generation.


Now, in times when everyone has their spotlight on eCommerce, AI, aggregated data, or any other future-oriented methods, it is easy to forget that the in-store environment is still, for many merchants, the place where the majority of the transaction takes place. In many cases, In-store is the channel that drives revenue and growth.

I think we will see a less binary approach. It is not about one payment method instead of the other. We, as a supplier, need to offer a relevant, qualified solution that embraces them all. The merchant needs to build an ecosystem that lets consumers choose their preferred payment method with equal quality and customer experience. You see, age, geography, segment, and vertical are just a few elements that tell us that the future is about diversity.

 1 + 1 = 3

Combining the capabilities of eCommerce and Instore, that’s where the magic happens. Enabling the merchant to offer a seamless customer experience with any payment method, across any purchase channel. This is where the sum of the part becomes greater than the individual parts. This is what we call Integrated Commerce.

Our response

Pay@table, pay@counter, pay@hotel, self-service, alternative payment methods, eCommerce, and Integrated Commerce are just a few methods you find on our table. It’s like a “smorgasbord” of choices.

 And of course – on top of that, we add aggregated data, security, flexible acquiring, automatic on-boarding, personalized use, and follow the customer.

So, when I think about what is next, I have a holistic approach that combines today and tomorrow. Diversity in our offerings and freedom of choice for our customers, that is key in our strategy.

 As a customer of Westpay, you can cherry-pick any of these offerings, knowing that they are the best of breeds. Our level of innovation, delivery capacity, and support make our customers stay – year after year.

 Best regards/ Hans Edin, CCO at Westpay

Publicerad juni 3, 2022

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