Harnessing payments orchestration: new era of ecommerce efficiency

As the chief financial officer of the Brooks Running Australia, part of the Texas Peak group of companies Neelesh Mehta says when it comes to payment systems, the ability to manage payments from anywhere, have visibility over what’s happening and manage transaction costs is essential.

Texas Peak manages brands including Brooks Running in Oceania, a 110-year-old sports shoe retailer that is now one of the top running shoe brands and online portals.

Brooks Running, a 110-year-old retailer, is now one of the top running shoe brands and online portals. iStock

Brooks Running has evolved its payments infrastructure as technology has improved, always making sure customers can pay the way they want.

This is important, given a study by the Commonwealth Bank released in September 2023, Consumer Insights - Digital distinction: Attracting and retaining a new breed of customer, shows the vast majority (84 per cent) of retail and hospitality customers want a range of payment options.

According to the same study, more than a third of consumers want payment options that support a fast checkout process and flexible delivery choices.

Brooks Running, which banks with the Commonwealth Bank, has seen payments technology change over its life from basic systems to the advent of ecommerce, digital wallets and even tapping with devices such as smart watches.

“We have to be able to accept many different forms of payment, from many different places. Plus, our loyalty programs mean we need to track where payments come from,” says Mehta.

“The technology that underpins this has to be able to grow and scale with us.”

Technology is helping retailers to remain competitive and keep up with changing payment practices.

Karen Last, General Manager - Merchant Solutions, Commonwealth Bank says the way people pay has shifted, amid new buying habits and ways of paying.

“Millions of Australians now use digital wallets and other payment methods and people want more options, control and security at the checkout,” says Last.

“This is driving innovation and change in the underlying technologies businesses use to facilitate transactions. As a result, there is a relentless pressure on businesses to keep pace with technology as it improves.”

This article was originally published in The Australian Financial Review (Nine Publishing) on 10 April 2024.