As part of PULSE’s commitment to deliver solutions that directly address clients’ ever-changing needs, the network conducts a yearly survey to inform business decisions for service improvements, future enhancements, product developments and educational initiatives.
This year’s PULSE Voice of the Client Survey, conducted by independent research firm Analytica Inc., asked issuers and processors to assess their experience with PULSE. The findings help the network identify what it is doing well and prioritize enhancements.
“We think of this as a virtuous cycle. Our focus on the client helps us stay in touch with their wants and needs, which is instrumental in helping us prioritize product development.”
Jennifer Schroeder, Executive Vice President of Product Management at PULSE
Based on the results, derived from interviews with 100 PULSE issuers, 30 processors and other clients, PULSE scored high on communication and responsiveness. Many respondents also pointed to issues they want help tackling, such as fraud prevention, tokenized transactions and effective use of digital tools.
“We think of this as a virtuous cycle,” explained Jennifer Schroeder, Executive Vice President of Product Management at PULSE. “Our focus on the client helps us stay in touch with their wants and needs, which is instrumental in helping us prioritize product development.”
A commitment to continuous improvement
Issuers and processors rated PULSE highly on several measures, with the highest ratings achieved for communication and products. Further, processors said they appreciated the network’s personal approach to client service and support, while issuers also pointed to their deep satisfaction with the responsiveness and dedication of Account Executives.
“We truly believe that PULSE provides best-in-class service,” one respondent said. “It's very well known throughout the organization how PULSE is responsive, whether it's products or technology.”
Leveraging resources for fraud protection and reporting is top of mind
Interviews revealed that fraud protection continues to be a primary focus for issuers and processers. While most respondents believe that new technology and increased automation will help protect their customers, they want additional training to make sure they are using these tools effectively to tackle fraud and manage disputes.
Although fraud detection and protection was the biggest challenge identified, respondents said they appreciate and actively implement PULSE’s personal service and fraud-detection tools such as DebitProtect®.
Issuers and processors also made clear that, given the ever-evolving debit landscape, there is a constant desire for information. Several respondents said they would also welcome informal training with their account representatives to learn about PULSE tools. In particular, respondents would like help using the PULSE® Debit Dashboard to analyze their debit data.
Key takeaways being put in action
The results of this year’s survey have helped drive plans for several initiatives in 2023. In response to issuers’ need for more industry education, PULSE plans to host additional webinars in 2023 focused on topics of interest to issuers.
For processors, PULSE noted a continuing desire for assistance with its technical capabilities. To address this, PULSE will provide more opportunities for information exchange with partners in the areas of fraud management, disputes and product insights.
PULSE plans to explore key-management practices that use secure key exchange as an alternative to paper-based processes. Additionally, the network will further assess merchant boarding requirements to improve efficiency while mitigating risk.
Recent enhancements based on feedback
While the annual PULSE Voice of the Client Survey is a formal way to elicit feedback, the network is constantly communicating with clients to understand how it can provide additional support. In fact, some of PULSE’s latest enhancements are a direct response to client input, such as the newly launched bot tool designed to counter rapid-fire bots and combat emerging fraud.