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Displaying 121 - 130 of 182 Payments and Industry Trends blog posts

  • The Middle East Presents Retailers A Growing Opportunity But Faces Two Challenges

    The Middle East Presents Retailers A Growing Opportunity But Faces Two Challenges

    Friday, March 31, 2017

    36% of Middle East residents are digital shoppers1  and are expected to spend $19B2 online in 2017; with this spend figure rapidly growing to $34B in 2021. Although cash is the preferred method of transacting, the region is edging toward a digital society. In the UAE and Saudi Arabia, nearly two thirds of the population has smartphones—fueling shopping online growth.3  This prevents retailers new growth opportunities.

  • Bots doing payments

    Whose Liability is it Anyways? The Rise of Bots in Financial Services

    Wednesday, March 29, 2017

    The implication of driverless cars, in terms of liability, is fascinating. For starters, in a world where vehicles are all completely self-driving, it would (technically) be impossible to drive under the influence, so this alone will eliminate many accidents. But, when there is an accident (and there inevitably will be), who will be liable for the damages? The car manufacturer? Or the developer of the software that runs the car? What will happen to insurance companies and contracts when there is no liability to insure against? It’s thought-provoking that this scenario will touch a wide range of industries.

  • Seamless Payments Africa and the Region’s Evolving Payments Landscape

    Seamless Payments Africa and the Region’s Evolving Payments Landscape

    Monday, March 27, 2017

    Blockchain is overhyped and misunderstood; consumers want consistency; and customer centricity and collaboration are not a project. Although they’re not necessarily my own sentiment, these are my three key takeaways from the Seamless Payments – Africa conference, which wrapped up recently in Cape Town.

  • March Madness: The Elite 8 of Payments

    March Madness: The Elite 8 of Payments

    Tuesday, March 21, 2017

    March Madness is officially upon us and millions have (incorrectly) picked their brackets because no one picks every game correctly…and we mean no one. March Madness has also now brought about copycats (how flattering)—from brackets on books to restaurants to cities to sportswriters and more…there might even be one on Members of Congress (hello mid-term elections!!!!). And I think 2017 marks our second annual Rantings Madness bracket, though our bracket does not involve 64 or 68 teams, as that would be nauseating. We’ve whittled ours down to the Elite 8…in this case, the Elite 8 of Payments.

  • Omni-Channel's Biggest Challenge

    Drowning in Data? Or Thirsty for More? Omni-Channel’s Biggest Challenge

    Friday, March 17, 2017

    There is no doubt that retailers recognize the value of knowing their customers better. Whatever the merchant sector, geography, or business model, understanding customer buying habits, payment and channel preferences, and satisfaction levels can drive sales, boost customer loyalty and raise revenues. But, in the ever-changing world of the omni-channel shopper, how easy is it to really know your customer?

    The single biggest key to this challenge is data – and lots of it. Not just ‘big data’, but smart, consolidated big data – and this only comes from the ability to bring massive amounts of information together from multiple sources, and analyze it to build a comprehensive picture.

  • Loan servicing trends: 9 surprises

    9 Surprising Loan Servicing Trends

    Thursday, March 16, 2017

    “Think like customers, not like lenders” was my motto during my 30 years as a lender. But it’s getting tough. Customers are changing faster than ever.

    We recently worked with Aite Group on an extensive study to learn more about how customers view and pay their loans. The billing and payment experience is the top driver of loan servicing satisfaction. So focusing here will create more smiling customers.

    We learned that one VP increased customer satisfaction by 50 percent through enhancing his company’s billing and payment experience*. Could 2017 be your year to make big jumps in customer satisfaction? 

  • Is payments your core business?

    Are Payments Your Core Business? And, Should You Care?

    Thursday, March 09, 2017

    You know you are getting old(er) when you start reminiscing about the past, longing for better and simpler times. Are you thinking, with nostalgia, of those bygone days when payments were simple? With four party models, ‘digital’ meant card or wire transfers, banks and their processing partners provided secure but not-too-fast payments, and payment revenues accounted for 33 percent of banking revenues. If your answer is ‘yes’ to the previous question, then you are probably not a millennial.

  • Blockchain for retailers

    Blockchain for Retailers: Producing Real Business Benefits

    Wednesday, March 08, 2017

    When I read about blockchain, I typically come across three use cases: cross-border payments, security issuance and digital currency. These have all been proven to work—and they are also finance-related. But the payments ecosystem includes a lot more than just financial institutions. This post explores the potential impact that blockchain will have on retailers and their value chain.

  • delorean-open-payments

    “Roads? Where we’re going we won’t need Roads” - Open APIs and Financial Services

    Monday, February 13, 2017

    The word ecosystem is often used when discussing payments. Whether it’s to describe how a payment is made or to discuss a partnership or even understanding your place in the value chain. Though part of the issue with how we present the ecosystem is that we tend to emphasize only small portions of the overall picture, that is to say if we are discussing payments to a merchant or retailer, the picture shifts to just show eComm, mComm and POS while partially ignoring the Financial Institution, and to a lesser extent the FinTech’s domains. But those days may be coming to an end as we have begun the transition to a new payments ecosystem.

  • PSD2 Regulation Will Bring Down the Walls, Not Build Them

    PSD2 Regulation Will Bring Down the Walls, Not Build Them

    Friday, February 10, 2017

    The Payments Services Directive 2 (PSD2) is shaking up the industry, and for good reason. There is sometimes a tendency for the payments ecosystem to expect doom and gloom when it comes to new regulation; seeing it as restrictive, unnecessary interference, or costly. The reality is that PSD2, along with other regulatory changes across Europe and the world, offers a massive opportunity for all participants in the payments ecosystem to carve out new revenue streams.