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The telecoms market is changing at a rapid pace not only in terms of technology but also the key ingredients for success. The sustainability of businesses that focus on being providers of just voice or data services in isolation is under threat. It is the ability to respond to the changing requirements of the customer, offer services that suit current and future requirements and have a comprehensive proposition that prevents the need for customers to shop around that ensures long term growth and success. The reality is in the current market it is not just about being a telecoms provider it is about evolving into a business services provider offering a proposition that consists of voice, data, mobile and cloud applications and now with NetPay that capability can also now extend to card payments.
The objective is to deliver consistent, growing, recurring revenues from new and existing customers. There are now very few greenfield opportunities in the telecoms space, those who provide voice services attempt to win existing business from their competitors, those who provide data look to encourage customers to upgrade to higher bandwidth or private network solutions, those who provide mobile look to deliver innovative commercial models across multiple networks – critically it is about demonstrating differentiation. When providing differentiation the objective is to remove the focus and emphasis on price alone for services like voice and data which have seen increasing margin pressure, it is about presenting an overall value proposition that caters for a customer’s requirements and allows them to look at the whole opportunity not just the price of individual services in isolation. NetPay is providing telecoms providers with a unique opportunity to generate a new, recurring, lucrative revenue opportunity by offering branded payment services to existing customers. This provides market differentiation, drives multi-product penetration therefore making customers more loyal and as a result increasing the value of the business. This solution is either provided on a white label basis or through an indirect reseller relationship, powered and operated by NetPay.
Card processing volumes are growing year on year. Taking payments is an essential part of every business, with more than 100,000 merchants and more than 12,000 new businesses starting in Ireland each year there is a fantastic opportunity for resellers to win business. Businesses are faced with increasing costs and risks of processing cheques, a payment facility which will eventually be phased out. The opportunity is therefore not only limited to those that already take card payments but the larger number of businesses that could take advantage of cost effective card payment solutions as a replacement to cheques, reducing risk, speeding us cash flow and making payments more flexible.