Every Merchant Needs a Chief Payments Officer

Large merchants should rethink how payments are owned and governed across their enterprise. Payments can no longer be managed only as a finance cost center or an IT performance function because they now influence customer experience, operational efficiency, compliance, and revenue growth. Fragmented ownership can mean optimization in one area while creating hidden costs or missed opportunities elsewhere. Emerging payment capabilities, including buy now, pay later and other alternative payment methods, require broader coordination across finance, technology, operations, revenue, loyalty, and customer experience. At the center of this model is the Chief Payments Officer, who should be a senior leader with strategic and matrixed responsibility for aligning payment decisions to enterprise goals, and whose role is most effective when positioned close to customer experience leadership.

Key questions discussed in this Merchant Payments report: 

• What is the role of the Chief Payments Officer?
• How do I know if my organization will benefit from having a Chief Payments Officer?
• Can I establish a Chief Payments Officer without adding staff?