New research shows Singapore businesses are actively leveraging payment insights to drive business decisions, manage risk and increase loyalty

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SINGAPORE
-�Media OutReach�-�12
September 2019 -�Retailers are leveraging payments to create
shopping journeys that increase customer loyalty and engagement. This is
according to a new IDC research survey commissioned by Adyen, the payments platform of choice for many
of the world's leading companies.

"A commonly held belief is that
payment innovation is about a new way for customers to pay.� For example, the addition of new payment
wallets or the acceptance of new devices," said Michael Yeo, Senior Research
Manager, IDC.� "In truth, payment innovation
is about the use of technology to build experiences like endless aisles for
customers across online, mobile and in-store.�
Businesses who understand that payment can be a strategic business
enabler will win the battle for the shopper."

In the latest
research, Payments Culture in Singapore: How Businesses Must Transform,
which studies the local payment landscape, IDC identifies 3 important pillars
for building a frictionless customer experience: ?

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The Use of Payment Data as an Identifier -- Payment data is now a strategic business enabler, connecting
customers across channels.� 39% of businesses are able to, and do, identify their customers via
payment methods.� This allows them to
offer additional experiences across online, mobile and in-store experiences to
build loyalty.�

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The Use of a Single Payment Platform Across Channels - 93% of businesses who use a combined payment platform noted that
doing so accelerated the identification of friction points in a customer's journey to the checkout.� The ability to quickly identify and fix key
friction points drives additional revenues -- for example, past research from
Adyen shows that 89% of Singapore customers have walked away from a purchase
due to long lines.� Retailers can use
queue busting techniques such as mobile point of sale systems to solve this.

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The Use of Payments to Create Transformative Experiences for Customers -- As customers' expectations continue to
rise, merchants are beginning to invest in technologies to reduce friction in
the payment process. The research shows 53% of merchants are already offering
seamless payment journeys through the use of one-click ordering and auto
renewals for recurring payments.� 63%
offer swipe or tap contactless type payments for in-store transactions. IDC and
Adyen believe that more can be done to reduce payment friction.��

"Adyen has always believed that
payments can be the glue to create new shopper journeys.� For businesses, it's no longer enough just to be present in
various online and offline channels, it's now about how relevant you are to
shoppers," Warren Hayashi, President, Adyen,
Asia-Pacific.� "To succeed, businesses
must consider the relevance of the payment methods they're offering to
customers.� Are your customers time-starved
-- are they "tokenizing" their cards to enable faster
checkouts?� Are they gadget friendly -- using smart watches to pay or using their phones to take public
transport? The shopper has already decided to purchase an item, don't let a bad
payments experience make them walk away."

[1] Preliminary findings of an on-going survey on
payments, "Payments Culture in Singapore: How Businesses Must Transform." This
is based on a final sample size of 375 businesses in APAC as of September 2019,
of which the preliminary results represent 30% in Singapore. ��

About Adyen

Adyen (AMS: ADYEN) is the
payments platform of choice for many of the world's leading companies,
providing a modern end-to-end infrastructure connecting directly to Visa,
Mastercard, and consumers' globally preferred payment methods. Adyen delivers
frictionless payments across online, mobile, and in-store channels. With
offices across the world, Adyen serves customers including Facebook, Uber,
Spotify, Singapore Airlines, Cathay Pacific, Grab, Klook, Lorna Jane, Freelancer.com,
Kogan.com and the Cotton On Group.