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Pay Your Cards Right

January 5, 2017

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Payment Redesign is an Anglo-Dutch consultancy practice with associates in Ireland, Sweden and Finland. Founded by two entrepreneurs, it is the consultancy for companies in the payment card business. We got in touch with Eric de Putter to find out more about his background and his experiences of running the company.

I established Payment Redesign in 2012 after a long and successful career in card payment processing and schemes. During a good 20 years in the industry, I have seen a lot of things that are changing, whether this is due to changing consumer habits or the regulatory change of the invasion of Fintech. As a result, I have more than a good gasp of where the payment market is going. Nearly four years later, I have developed a strong client portfolio in the UK and Europe, with some clients in the US and the Middle East.

As an entrepreneur, I can rely on a number of very experienced associates. I deliver new market insights through my global network, and apply the market trends to the business of my clients allowing them to prepare for the future. Our clients typically include card processors, banks, financial service providers and specialist software companies.

What I have learned, is that for a small consultancy to succeed and grow in one way, one needs to concentrate on a number of core activities. Being recognised as ATM Consultant of the Year for the second year in succession, provides me with a unique opportunity in the ATM industry to recommend change from decade old PC based ATMs to cloud-based architectures. My on-going strategy is to work with clients to paint a picture of future change and assess the impact to them. Once I agree the strategy and vision of change for a client, my associate network can assist with change projects.


To promote Payment Redesign, I have worked with existing relationships within retail banking research and the ATM Industry Association. Typically, we write three or four articles for RBR’s monthly bulletin to start building up industry recognition. As an accredited ATMIA Consultant and making regular appearances at their conferences, I have contributed to increasing credibility and visibility in the industry.

In addition, I am an advisor to the Merchant Payment Ecosystem conference in Berlin, the largest European conference around retail payments, which is instrumental for me to keep track of the industry developments first hand and expand my network.

I primarily see myself as entrepreneur rather than a CEO. Self-confidence was a big issue to overcome but being announced at conferences worldwide as a consultancy firm has certainly helped. However, the fact I can oversee the future of a business or business initiatives may have been a contributing factor to becoming a successful and confident CEO.

As a business leader, I would suggest vision, organisation and perseverance are the qualities you need to be successful in the industry today. I have met with a number of entrepreneurs with great ideas however not all have succeeded, as they could not underpin their vision with an organisation.

In the payment industry, things are moving faster given the combination of regulatory and technological changes. I am more involved in business-to-business marketing and this is changing for the better. Clients such as banks and financial institutions no longer want to hear that a supplier has a wide product portfolio, offers continuity and has a great track record. They also want to hear that their suppliers can support any innovation they come up with or work with them to beat their competitors’ innovative approach.

If you visit any conference or tradeshow, the visionaries (we used to call them inventors) are nowadays grabbing the limelight and most payment tech companies market concepts on which they can serve their clients in the future. My approach is to promote change where I believe I can deliver better and get my speaking slots and articles in various trade magazines.

If we take a closer look at the industry, there has definitely been a change in consumer attitudes, there is now an app for everything. Banks typically spend a lot on IT but are unlikely to catch-up with the change. On the other hand, there are Fintech companies, sometimes too over-enthusiastic, that do not necessarily understand what they are getting themselves into. A third component is the incumbent suppliers, who may only welcome change as long as they can sell their existing products. All in all, this is good news especially for specialist consultancy firms.

Keeping up with new technology is vital for the payment industry as there is always another competitor for cash and cards whether this is Bitcoin or Apple Pay. But make no mistake this is a good thing as Payment Redesign thrives on change in the marketplace. Forecasts suggest that by 2020 75% of a consumer’s interaction with a bank will be through a banking app, which raises a lot of questions on how banks re-think their cash and payment strategies. I am clearly pushing change, e.g. with research in cloud based ATMs and payment terminals being substituted by smartphones and we expect this to continue in the future.

In five years’ time, given the strategy with smaller dedicated spin-offs, I expect to overlook a number of ventures and a spin-off of the concepts that I am currently consulting on. Assuming that some of the work that I do around payment change will materialise I would expect to also take on one or two non-executive director roles at other payment firms.

Going forward, my growth plans are two-fold, I’m aiming for more recognition globally for my new ideas around the change of the payments industry. I truly believe I am in a good place for changes in the ATM industry and I am working towards getting the same status for card and mobile payments and of course this will take place under the Payment Redesign brand. Furthermore, I am also trying to establish new ventures supporting the above growth, allowing me to take on more staff.

For me, the hardest part of staying successful is setting the right strategic direction and growing the business. Confirmation from clients and public speaking opportunities all contribute to a focused mind. Spending time with my family and going for a bike ride are other activities where I can re-charge my batteries and return with healthy ideas about the business.

Company: Payment Redesign Limited
Name: Eric de Putter
Email: [email protected]
Web Address: www.paymentredesign.com
Address: 106 Pembury Road, Tonbridge
TN9 2JG United Kingdom
Telephone: 44 7950 449188

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