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Game of Thrones is over for another year, but you can still win the Game of Payments

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Image: HBO

Proven again and again by partnerships such as the House Baratheon and House Lannister, House Tully and House Stark, alliances must be formed in order to achieve success and security.

Whether you live in Essos or Westeros, you will need strong allies by your side to conquer the Iron Throne of ecommerce. Not everyone has three dragons at their disposal, but with the right houses as support, you will stand a good chance of ascending to power.

Do you have what it takes to secure the Iron Throne of ecommerce? Here are a few things to help you choose the alliance you need and conquer the world of online selling…

(1) Align yourself with a loyal, cost efficient house (payment service provider) to maximise your profits

Avoid House Lannister (too costly), and opt for a house that will offer support and counsel rapidly to avoid any potential loss of profit. When choosing the right payment service provider as your ally, find one who will not only be able to offer low processing costs, but also able to offer a relationship management team with great support in case you run into any problems with your payment processing system.

(2) Speak the common tongue and cater to all kingdoms

Today, alternative payments represent approximately 50 per cent of all online transactions. This means you are going to need a versatile house that offers alternative and local payments to help you accept payments and sell across all seven kingdoms and free cities.

Given the dynamic nature of the online payment landscape today, it is more important than ever for you to extend your international customer base and maximise profits by accepting regional alternative/local payments alongside global credit and debit cards.

Read more on Game of Thrones’ role in business:

(3) Do not deal with the Iron Bank

Align yourself with a powerful house who has a direct acquirer status with all major credit and debit cards, and who can take full accountability across the payment value chain.

What this means is that without third parties taking an additional “cut” between you and your PSP, you will be able to receive competitive pricing determined from the interchange rate. All of this would ultimately lead to lower transactional costs for your business, maximising your profits.

The world is large and full of payments – the three remaining steps to make it to the top can be found on the next page.

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