{"id":18686,"date":"2023-10-25T14:53:15","date_gmt":"2023-10-25T14:53:15","guid":{"rendered":"https:\/\/mysourcefunding.com\/leadership\/the-crucial-role-of-comms-experts-in-driving-ai-powered-payments\/"},"modified":"2023-10-25T14:53:16","modified_gmt":"2023-10-25T14:53:16","slug":"the-crucial-role-of-comms-experts-in-driving-ai-powered-payments","status":"publish","type":"post","link":"https:\/\/mysourcefunding.com\/?p=18686","title":{"rendered":"The Crucial Role Of Comms Experts In Driving AI-Powered Payments"},"content":{"rendered":"<div>\n<p><em>Antony Robinson is the chief marketing officer (CMO) at <\/em><em data-ga-track=\"ExternalLink:https:\/\/www.novalnet.com\/\">Novalnet AG<\/em><em>.<\/em><\/p>\n<p>When considering what makes a retailer or provider\u2019s online payment system customer-centric, we tend to look at two different metrics: Is it effortless, and is it secure? The customer must be able to make the payment in a smooth, streamlined process, without a lot of headaches or technical difficulties; they also must be confident that their payment information and money are being routed to the right place, without compromising their data security or privacy. Some of the retail giants have perfected processes for payment that customers love:<\/p>\n<p>\u2022 Amazon, with its \u201cbuy now\u201d feature that allows customers to purchase their chosen item in one click, with all of their payment data pre-loaded.<\/p>\n<p>\u2022 Apple Pay, which enables users to make secure payments from smartphones or smartwatches, without having to carry cash or credit cards.<\/p>\n<p>\u2022 Uber, which automatically charges the customer\u2019s preferred method of payment after the ride is complete.<\/p>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\">Focusing On Customer Needs<\/h2>\n<p><fbs-ad position=\"inread\" progressive=\"\" ad-id=\"article-0-inread\" aria-hidden=\"true\" role=\"presentation\"><\/fbs-ad><\/p>\n<p>What these methods have in common is that they prioritize customers\u2019 needs. These methods are easy, straightforward and (most of the time) frustration-free. Equally important, they are secure, giving customers confidence that their transaction has occurred successfully without risking their money or financial data. All of this results in satisfied customers who are likely to return to these vendors again and again.<\/p>\n<p>Putting customers at the center of payment experiences can be a powerful way to build brand connections. Regularly experiencing simple, user-friendly transactions builds trust and loyalty between customers and that brand, inspiring repeat business and, of course, referrals. Customer sentiment amplifies the brand\u2019s reputation and reach\u2014and positive experiences with payment, separate from the brand\u2019s product or service, go a long way.<\/p>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\">AI\u2019s Role In Augmenting Payment<\/h2>\n<p>Just as AI tools have infused every industry with new possibilities and capabilities, this burgeoning area of technology has also revolutionized payment, helping to create even more exceptional experiences for customers. Augmenting payment systems with AI enables businesses to achieve unprecedented levels of personalization, offer instant support (alleviating common frustrations without forcing customers to wait on hold for hours on end) and anticipate customer preferences. This paves the way for a payment journey that is not only efficient, but also memorably easy and pleasant, allowing these businesses to create a payment experience that exceeds customer expectations.<\/p>\n<p>Crucially, AI also serves to enhance payment security. AI fraud detectors can immediately note suspicious transactions\u2014payments that seem out of character for a user\u2019s purchasing habits, come from an unknown location or contain details that do not match the user\u2019s known profile. AI tools can then take action to block these suspicious payments until they are reviewed. These enhancements protect customers and their money, adding a much-needed layer of security to the payment experience.<\/p>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\">The Important Role Of Communication<\/h2>\n<p>Communication is an underrated but important aspect of customer adoption of AI-driven payment experiences. Communications experts must ensure that customers understand how these processes work and what the role of AI is in their payment systems. For customers to buy into these systems, they need to be aware of benefits such as improved security, efficiency and personalized experiences. Transparency is key, and communications personnel have their work cut out for them not only in explaining how these new payment solutions work, but also how they can positively impact customer experiences.<\/p>\n<p>Another key task for communications experts is alleviating distrust around AI in general. For all the rapid adoption of AI tools, a lot of skepticism and confusion exists: For instance, customers may be worried that by \u201cfeeding\u201d their financial information into an AI tool, they are compromising their own data or putting themselves and their money at risk. In fact, data privacy and security regulations stipulate that only the payee has access to the customer\u2019s credit card or bank account information. Moreover, AI allows for more robust fraud and theft detection than non-AI-driven payment methods. By building trust with customers who may initially be wary of AI, communications experts help pave the way for a future where AI-driven payments are the norm.<\/p>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\">Ushering In A Brave New World<\/h2>\n<p>Communicating the value of AI in customer-centric payment experiences is hugely important to the overall goal of unlocking its full potential and, for customers, revolutionizing the payment experience. Building trust with customers and conveying to them how AI will improve their payment journeys with security, effortlessness and personalization is key to higher rates of adoption and increased likelihood of success for businesses implementing these solutions.<\/p>\n<p>Transparent communication also helps inspire investors by showcasing the potential return on investment (ROI) on AI technology, as well as the business benefits that come with embracing these modern, sophisticated payment methods.<\/p>\n<p>Ultimately, communications experts are the champions of AI across every industry, enabling customers, employees and investors to move past confusion and misunderstanding and fully appreciate the full range of capabilities these tools bring to the table. Knowledge is power, and communications experts are helping users wield that power, and in doing so ushering in an era of transformative benefits and experiences.<\/p>\n<p>Forbes Communications Council is an invitation-only community for executives in successful public relations, media strategy, creative and advertising agencies. <em data-ga-track=\"InternalLink:https:\/\/councils.forbes.com\/qualify?utm_source=forbes.com&amp;utm_medium=referral&amp;utm_campaign=forbes-links&amp;utm_term=fc2c&amp;utm_content=in-article-ad-links\">Do I qualify?<\/em><\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.forbes.com\/sites\/forbescommunicationscouncil\/2023\/10\/25\/the-crucial-role-of-comms-experts-in-driving-ai-powered-payments\/\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Antony Robinson is the chief marketing officer (CMO) at Novalnet AG. When considering what makes a retailer or provider\u2019s online payment system customer-centric, we tend to look at two different metrics: Is it effortless, and is it secure? The customer must be able to make the payment in a smooth, streamlined process, without a lot [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":18687,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[76],"tags":[],"class_list":{"0":"post-18686","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-leadership"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Crucial Role Of Comms Experts In Driving AI-Powered Payments | Brandiary<\/title>\n<meta name=\"description\" content=\"Antony Robinson is the chief marketing officer (CMO) at Novalnet AG. 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