2 Digital Payment OKR examples with initiatives

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What are Digital Payment OKRs?

The OKR acronym stands for Objectives and Key Results. It's a goal-setting framework that was introduced at Intel by Andy Grove in the 70s, and it became popular after John Doerr introduced it to Google in the 90s. OKRs helps teams has a shared language to set ambitious goals and track progress towards them.

OKRs are quickly gaining popularity as a goal-setting framework. But, it's not always easy to know how to write your goals, especially if it's your first time using OKRs.

We've tailored a list of OKRs examples for Digital Payment to help you. You can look at any of the templates below to get some inspiration for your own goals.

If you want to learn more about the framework, you can read our OKR guide online.

Digital Payment OKRs examples

You will find in the next section many different Digital Payment Objectives and Key Results. We've included strategic initiatives in our templates to give you a better idea of the different between the key results (how we measure progress), and the initiatives (what we do to achieve the results).

Hope you'll find this helpful!

OKRs to secure leadership in POS and online payment solutions market

ObjectiveSecure leadership in POS and online payment solutions market
KRIncrease total volume of digital payments processed by 40%
Develop promotional incentives for customers using digital payments
Improve the website's UX for a seamless payment process
Implement new digital payment methods such as mobile payments or cryptocurrencies
KRBoost customer satisfaction with transaction process by achieving 85% positive feedback
Implement a feedback system post-purchase for immediate customer response
Address customer complaints promptly to improve satisfaction rate
Streamline checkout process for quicker, more efficient customer transactions
KRExpand merchant partnerships by 25% for the broader POS ecosystem
Schedule and conduct meetings with target merchants
Develop attractive partnership proposals for merchant contenders
Research and identify potential new merchant partners

digital-payments merchant-partnerships pos-operations-manager customer-satisfaction-specialist digital-payment-solutions merchant-partnership-development

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OKRs to achieve dominance in digital payment acceptance market

ObjectiveAchieve dominance in digital payment acceptance market
KRExpand to 3 new key geographical markets
Develop a market entry strategy tailored for each region
Allocate resources for marketing and operations in new markets
Identify potential markets based on product demand and customer demographic
KRIncrease total transaction volume by 25%
Implement targeted marketing campaigns to attract new customers
Invest in user-friendly transaction platform improvements
Offer incentives for high-volume transactions
KRSecure partnerships with 5 leading eCommerce platforms
Develop tailored pitches for partnership proposals
Reach out to eCommerce platforms with partnership proposals
Identify top 5 eCommerce platforms suitable for partnership

digital-payment market-expansion market-strategist business-development-manager marketing-team business-development-team

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How to write your own Digital Payment OKRs

1. Get tailored OKRs with an AI

You'll find some examples below, but it's likely that you have very specific needs that won't be covered.

You can use Tability's AI generator to create tailored OKRs based on your specific context. Tability can turn your objective description into a fully editable OKR template -- including tips to help you refine your goals.

1. Go to Tability's plan editor
2. Click on the "Generate goals using AI" button
3. Use natural language to describe your goals

Tability will then use your prompt to generate a fully editable OKR template.

Watch the video below to see it in action 👇

Option 2. Optimise existing OKRs with Tability Feedback tool

If you already have existing goals, and you want to improve them. You can use Tability's AI feedback to help you.

1. Go to Tability's plan editor
2. Add your existing OKRs (you can import them from a spreadsheet)
3. Click on "Generate analysis"

Tability's Strategy Map makes it easy to see all your org's OKRs

Tability will scan your OKRs and offer different suggestions to improve them. This can range from a small rewrite of a statement to make it clearer to a complete rewrite of the entire OKR.

You can then decide to accept the suggestions or dismiss them if you don't agree.

Option 3. Use the free OKR generator

If you're just looking for some quick inspiration, you can also use our free OKR generator to get a template.

Unlike with Tability, you won't be able to iterate on the templates, but this is still a great way to get started.

Digital Payment OKR best practices

Generally speaking, your objectives should be ambitious yet achievable, and your key results should be measurable and time-bound (using the SMART framework can be helpful). It is also recommended to list strategic initiatives under your key results, as it'll help you avoid the common mistake of listing projects in your KRs.

Here are a couple of best practices extracted from our OKR implementation guide 👇

Tip #1: Limit the number of key results

The #1 role of OKRs is to help you and your team focus on what really matters. Business-as-usual activities will still be happening, but you do not need to track your entire roadmap in the OKRs.

We recommend having 3-4 objectives, and 3-4 key results per objective. A platform like Tability can run audits on your data to help you identify the plans that have too many goals.

Tip #2: Commit to weekly OKR check-ins

Don't fall into the set-and-forget trap. It is important to adopt a weekly check-in process to get the full value of your OKRs and make your strategy agile – otherwise this is nothing more than a reporting exercise.

Being able to see trends for your key results will also keep yourself honest.

Tip #3: No more than 2 yellow statuses in a row

Yes, this is another tip for goal-tracking instead of goal-setting (but you'll get plenty of OKR examples above). But, once you have your goals defined, it will be your ability to keep the right sense of urgency that will make the difference.

As a rule of thumb, it's best to avoid having more than 2 yellow/at risk statuses in a row.

Make a call on the 3rd update. You should be either back on track, or off track. This sounds harsh but it's the best way to signal risks early enough to fix things.

How to track your Digital Payment OKRs

OKRs without regular progress updates are just KPIs. You'll need to update progress on your OKRs every week to get the full benefits from the framework. Reviewing progress periodically has several advantages:

It brings the goals back to the top of the mind
It will highlight poorly set OKRs
It will surface execution risks
It improves transparency and accountability

We recommend using a spreadsheet for your first OKRs cycle. You'll need to get familiar with the scoring and tracking first. Then, you can scale your OKRs process by using a proper OKR-tracking tool for it.

If you're not yet set on a tool, you can check out the 5 best OKR tracking templates guide to find the best way to monitor progress during the quarter.

More Digital Payment OKR templates

We have more templates to help you draft your team goals and OKRs.

2 OKR examples for Digital Payment