September 30, 2020
TABLE OF CONTENTS
This digital payments client, a fast food industry giant, wanted to roll out a new global ordering platform for their mobile app. To do this, the client would need to build a centralized platform that could handle taking orders globally while sending each order to the individual franchise location. Mobile orders required payment facilitation, as well as sending orders and distributing funds to individual restaurants. The client teamed up with Levvel to analyze competitors and customers, then identify which payment providers would best meet their overall objectives.
The client’s primary problem was the need for a third-party perspective to analyze competitors and research customer needs that would help ensure the application’s success. The client wanted Levvel to validate internal decisions, as they needed to reduce the complexity of their global payments processing environment and create a new global mobile ordering capability.
Levvel’s mission started with helping the client strategize around what payment mechanisms to offer customers on the mobile app. Levvel focused market research efforts on customer preference, user experience, and determining the best products for certain use cases. A better mobile experience entailed providing payment options such as entering credit card information and allowing the customer to store the restaurant’s value card within the app. This also included adding alternative payment providers, such as Apple Pay, PayPal, etc.
This strategy work would help develop a roadmap for future implementation. After the initial strategy phase, the client ultimately needed help picking a global processor.
This approach required:
The client leveraged Levvel’s recommendations on payment acceptance options, which became their product roadmap for development. Guidance for this platform created a better ordering experience for customers, especially when personalizing food orders at individual franchises.
Based on their newfound knowledge, recommendations, and Levvel’s expertise, the client was able to:
This project helped position the client well in the current market by implementing digital ordering and payment components. With COVID-19 creating considerable problems for the fast food and restaurant industry, competitors took substantial revenue hits. However, with these digital tools in place, the client was ready to handle these unique challenges and thrive despite difficult circumstances.
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On January 28, 2021 at 2 PM ET, join industry experts from Levvel and Bank of the West for a webinar on how financial institutions can be successful in the new world of digital payments and ‘Banking as a Service’ (BaaS).
While adoption of The Clearing House’s Real-Time Payments (RTP) is picking up among financial institutions, its spread among businesses is still early.
In our recent survey of businesses of all sizes, 49% of respondents said they were uninformed about RTP. This gap can be filled by financial institutions, business process automation software, and even businesses themselves.
Levvel Research's 2021 Real-Time Payments Report (RTP) provides a guide to the many use cases of RTP for businesses and outlines the ROI of adoption for financial management processes, product delivery, and customer satisfaction.