Displaying 1 - 10 of 211 Retail Payments blog posts
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How India is Tackling the Challenges of Digital Payments Growth
Monday, December 23, 2019 Kaushik Roy to Immediate Payments, Retail PaymentsIndia’s massive transformation from a cash-based society to a cashless society is underscored by the rise in fintech adoption and the growth of the Unified Payments Interface (UPI) platform, which is now processing more than one billion transactions each month.
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Deep Dive: Latin American Fintech Market (Part 2)
Monday, October 28, 2019 Luis Bastidas to Payments and Industry Trends, Retail PaymentsTo support fintechs’ development and create a more inclusive financial system, governments across the Latin American region should adopt different regulations. Some good practices implemented in other countries, like the U.K. or Singapore, could also be adopted in Latin America, such as temporary exemptions on fintech authorizations on behalf of regulating entities, or the creation of temporary regulation sandboxes in which fintechs can operate, evaluate their business models and offer their innovative products in supervised environments.
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Deep Dive: Latin American Fintech Market (Part 1)
Tuesday, October 22, 2019 Luis Bastidas to Payments and Industry Trends, Retail PaymentsThere is a gap between what financial institutions currently offer versus what today´s customers want in Latin America, and this is where fintechs are earning a reputation for customer-centricity, personalization, quick response and seamless delivery. The relationship between fintechs and traditional financial institutions in Latin America has evolved from competition to collaboration, with the aim of efficiently working together and effectively scaling innovation, while also driving financial inclusion for the underbanked.
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From API to AI to I: Banking Tech Gets Personal
Monday, October 21, 2019 Lu Zurawski to Payments and Industry Trends, Retail Payments, Transaction BankingTired feet. Running out of business cards. Countless LinkedIn connections – sound familiar? This time of the year is conference season; the annual SIBOS (SWIFT) and Money20/20 USA gatherings spanning the autumn give attendees plenty of hot topics and talking points. My American colleagues refer to this season as “the fall.” I trust this to be an observation on leaves and fruit rather than a sequitur on the state of the fintech industry. Either way, it’s a good time to harvest, to take stock and to work out what we should be doing with the apparent abundance of innovative produce.
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How to Maximize the Value of Partnerships Between Fintechs and FIs
Friday, September 27, 2019 Karen Arroyo Moguel to Immediate Payments, Bill Pay, eCommerce, Merchant Retail, Retail Payments, Transaction BankingThe LATAM Open Banking & Fintech Partnership, organized by Connect Global Group, was held earlier this year in Mexico City, and ACI participated as one of the forum partners driving discussions on how to maximize value from collaborative partnerships between FIs and Fintechs. We explored the invaluable benefits of open API and strategies to differentiate the offerings of FIs and Fintechs, address consumer demands, and best practices for implementation aligned to regulatory requirements.
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A Deep Dive into the Payment Tendencies in the Mexican Market (Part 2)
Wednesday, September 25, 2019 Eduardo Avalos Maldonado to Retail Payments, Payments and Industry TrendsWhile the sheer volume and age of potential shoppers makes México an attractive market, there is another component to the viability of eCommerce: México is mobile. A recent study performed by the Asociación de Internet.mx, shows that México is one of 22 countries leading the trend toward mobile commerce, with young adults making 88 percent of smartphone purchases. The country has one of the largest mobile markets in Latin America, with one-third of all residents using smartphones.
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A Deep Dive into the Payment Tendencies in the Mexican Market (Part 1)
Tuesday, September 24, 2019 Eduardo Avalos Maldonado to Retail Payments, Payments and Industry TrendsThe population of México is the second largest in Latin America, with 122 million residents, 39 percent of whom are considered middle-class. The population is relatively young, with an average age of just 27, and one-third estimated to be millennials, which is often a factor in driving the popularity of eCommerce. Last year, 56 million people accessed the internet in México, though despite the high number of internet and mobile phone users in the country, nearly two-thirds of the population do not have bank accounts (source: Banco de Mexico).
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How to Be a Payments Trailblazer – The Seven Habits of Highly Innovative Organizations
Monday, September 09, 2019 Michael Grillo to Immediate Payments, Bill Pay, eCommerce, Merchant Retail, Retail Payments, Transaction BankingThe new Culture of Innovation Index from Ovum and ACI identified segments—from banks to intermediaries to merchants to corporates—at the cutting edge (of innovation) across the payments ecosystem. But what is most notable about those segments that have reached ‘trailblazing’ status is the apparent lack of commonality between them. No one segment, nor one region fosters better innovation. In fact, what’s driving these segments/organizations to be best of breed is their own culture of excellence. The only thing they have in common is their attitude.
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Customer Innovation: Erste Bank [Q&A]
Monday, August 12, 2019 Lu Zurawski to Retail PaymentsThe global banking sector is becoming both more strategically focused and technologically advanced, responding to rising consumer expectations while trying to defend market share against an increasing array of competitors. A great deal of emphasis is being placed on digitizing core business processes, and reassessing organizational structures and internal talent to be better prepared for the future of banking.
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Regulating for Real-Time: The Role of Government in Payments Modernization
Monday, May 20, 2019 Craig Ramsey to Retail Payments, Immediate PaymentsDr. Leo Lipis and Craig Ramsey, Head of Real-Time Payments for ACI Worldwide, continue their discussion on real-time payments and the findings of the new white paper, Get More from Real-Time.