Designing bespoke SME payment propositions
CLIENT | CVS & INCOMM PAYMENTS
Elavon is known in the payment industry for solutions to large corporate businesses, but wanted growth with smaller businesses. In 2020 we were asked to support Elavon in developing a number of differentiated payment propositions that would appeal to small and medium businesses. Then in 2024, we supported Elavon to update and refine their propositions for the Hospitality and Retail sectors in the UK.
THE CHALLENGE
OUR APPROACH
01
We captured comprehensive data using our tool Propel with UK based SMEs in Hospitality and Retail sectors. This gave us a detailed understanding of the needs of these SMEs and helped us develop hypotheses about where Elavon could win in the market.
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02
We facilitated proposition development sessions with key Elavon stakeholders to develop solutions to the key SME needs and pain points identified in the research, defining specific propositions for each sector.
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03
We tested the propositions we developed with Hospitality and Retail sector SMEs to understand how likely they would be to sign up to these new Elavon propositions.
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04
With this data we were able to develop a series of recommendations for Elavon on which areas presented the most commercially attractive opportunities for both sectors, as well as which features were must haves vs those that were nice to have in the minds of the SMEs.
THE OUTCOME
In 2025, Elavon launched new sector specific propositions to target the areas of opportunities, which have enabled them to grow market share against key competitors and deliver on key metrics.