I recently briefed many of you on our new strategy that has been adopted by the Board.
I’ve been very pleased with the positive response I’ve had from many of you about the direction we are taking and some of the potentially game-changing projects we are embarking on together.
The strategy is all about choosing where to compete, where we have advantages and where we can seize opportunities in the market.
To recap, the H2 strategy puts the customer at the forefront. The end vision is to “change the way Australians pay for the better”. We will achieve this through a focus on new segments and direct to consumer propositions:
- Merchants: Our focus will shift to the merchant, merchants want choice and to do business with eftpos, and we will build out non price led propositions. We strive for ubiquity and plan to be the preferred payment choice for the majority of Australian businesses.
- Consumers: With international markets moving to app-based experiences (including payment) and a limited window of opportunity to take on this role, we will pursue opportunities for consumers to choose eftpos (in existing channels by reinvigorating our brand i.e. mobile) and new consumer facing propositions (through partnership) to be the preferred digital payment experience for most Australian consumers and businesses. This is the biggest driver for how we will change the way Australians pay.
- Issuers: To maintain competition in the Australian payments market for issuers, we will be ready willing and able to deliver for purpose products to issuers (when they are available to do so) and will broaden the definition of issuers to widen our target market
- National/Ecosystem: We will extend our natural role as a low-cost national infrastructure provider leveraging capabilities and ownership for national benefit. We are motivated to drive national benefit, making Australia more efficient.
We are now trying to hear from as many of you as possible about our Purpose and Vision statements, to ensure we all have a common understanding of what they mean and what we are about as a company. Please make an effort to attend one of these sessions and put forward your views.