How Third Channel helped global payments company Paysafe evolve their brand

Paysafe processes nearly $100 billion of payments, with more than 75% of revenue from online and integrated services. It has a highly differentiated B2B and B2C global network with a powerful suite of digital wallet, eCash and integrated processing solutions.

In 2019, Paysafe asked Third Channel to help evolve their brand and convey their complicated and nuanced payments solutions to their potential customers. Our experience in humanise hidden technology was valuable, and helped our shaping of the work.

Our brand evolution was unveiled in late 2020 and in 2021, Paysafe was listed on the New York Stock Exchange.

Here’s a look at the work we carried out.

The Objective
Position Paysafe as the Leading Specialised Payments Platform.

The Brief
Evolve the Paysafe brand, and help convey the multi-faceted, B-2-B-2-B-2-C business proposition to it’s hyper-specific audience in a simple-to-understand, compelling and relevant way.

The Challenge
Businesses who want to accept payments from their customers face a staggering array of hurdles. Choosing the right provider seems an impossible task, with no option seeming able to offer everything that a growing business needs.

One solution might restrict certain payment methods, while another lacks the intelligence to mitigate fraud. One solution is great to scale up with, but might be slow to respond to evolutions in global compliance and regulation. There hasn’t been a secure, truly global, silver-bullet payments solution for businesses to scale up with. Until now.

When Paysafe wanted to go to market with their super nimble, customer-centric technology stack, they set out to become the leading specialised payments platform. This needed to be done in adherence to their diverse global reach, in-line with their brand, and in a way that would allow the breadth of their technology to sensibly coalesce.

Third Channel rose to the challenge.

 

“Payments technology is about making the complex simple. We worked with Third Channel to tell our story clearly and to help position us as a technology leader in a competitive market. This has helped us bring to life our brand and our products for our wide range of stakeholders.”
Alex Gowar – VP Global Marketing, Paysafe Group

 

The Solution
We set out to find a video messaging solution that could build on the existing brand architecture, but was distinct enough to stand out in the crowded financial services marketplace. It needed to be a robust enough concept to support the complex nature of the technology, and adaptive enough to make sense of the huge variety of features and use-cases (current features, and those to come in future).

Working collaboratively with Paysafe’s Alex Gowar (Vice President, Brand & Product Marketing, Paysafe Group) we fell into a sprint routine of discover / explore / optimise, meaning we could find the solution quickly and efficiently.

We wasted no time on-boarding, quickly understanding to challenges within the engineering and marketing teams alike. Our in-house product and product marketing experience helped us identity exactly how to get started.

The Funnel
Paysafe lacked a clear picture of their sales funnel. Due to the broad nature of their products, the customer journey was complicated and nuanced. We began with interviews of a wide array of internal stakeholders, to developed a deep understanding of Paysafe’s customer acquisition process. We then reported back to them the end-to-end steps a customer experiences along that journey – all the stages from 0) Not knowing about Paysafe, through to 5) Integration and 7) Retention & Advocacy.

We then used that acquisition journey as a map to identify key moments where a message-specific video asset could nudge clients closer to signing up; precisely 45 new opportunities to connect to their audience.

The Audience
From our in-depth interviews, we were able to hone in on the client-side person (or team) responsible for deciding whether a new product or service will be adopted.

In the end, we identified 12 client-side roles responsible for moving the sales process forward (or not), and attributed names, modes and a need state to each.

Once we knew who we were talking to, we built complex models of their personalities, understanding their motivations, drivers and fears. Through this we found our angle.

The Concept
Financial payments technology is typically conveyed as a cute, forgettable solution to a grossly oversimplified problem in what appears to be an attempt to downplay the complexities – the assumption being users will overlook the problem once the service has been adopted. ‘Oh it’s just some fix for that boring payment thing I was struggling with’. The truth is anything but.

In actuality, the world of payments is vast, complex, multi-layered and extremely nuanced.

Those trying to refute this by adopting child-like product animations risk patronising the engineers who develop the products, the devs teams who adopt them, and the business owners who use them. We believe customers who are ready to scale up would prefer a technology partner that admits these complexities, and is vocal about how to tackle them. By taking the time to truly understand Paysafe’s complicated product we were able to prescribe a solution that genuinely fits.

We also identified that, uniquely, Paysafe’s business customers (dev teams), and their end-users (business owners) share a distinct set of attributes; a desire to overcome problems, a knack for seeing solutions where others do not, a pride in challenging themselves and doing the ‘impossible’, and a desire to forge into a world where no man or woman has been before. They are Adventurers in the truest sense. We concluded then that the brand and style of communication should reflect this.

 

The Creative
Once we had identified the concept, we knew exactly how to bring it to life visually.
For a backdrop we used a textured, imaginative set of environments that could speak to the audience’s inner desires: thinking big, going further, leaving a mark. Bustling cityscapes. Torrential oceanic shipping. Snowy peaks and mountain exploration. Astronomy and the dark beyond.

 

Messaging
It was important not to lose sight of Paysafe’s obsession with customer satisfaction. They treat everyone equally, and so we needed to convey both their truly global business footprint while also demonstrating the individual customer care. We helped build out a 4-tiered messaging matrix. Global Lens (the Business Challenge), Local Lens (the required specialist skill needed to solve the business challenge), Individual Lens (The Paysafe product proposition best suited to solve it) and Technical Lens (the Reason to Believe that Paysafe can do it). We then aligned these to the physical altitudes of our end narrative environments.

We coupled these ‘Frontiers’ with a discreet, technically intricate world, to substantiate the intelligence of the product underpinning.

This marriage of adventurous landscapes and bleeding-edge technology perfectly exemplifies the ingredients that make up the audience mindset, while creating an ownable identity with which to showcase the Paysafe offering.

Conclusion
This incredibly complex challenge meant the only true way to satisfy the brief was to spend the required time to fully comprehend the business, the stakeholders and technology. Paysafe lacked a sophisticated consumer lexicon, a common understanding and a visual identity sufficient enough to cut through the noise with a competitive and ownable voice. Through tenacity and an intelligent approach we let the process unfold rather naturally, resulting in an outcome we can all be proud of.

We would love to hear about your brand, product or business. We’ve got plenty of ideas and opinions on making a better impression, and we’re happy to share. Get in touch.