Displaying 1 - 10 of 218 Retail Payments blog posts
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Request for Pay – What Does It Mean For Financial Institutions?
Wednesday, October 17, 2018 Paul McMeekin to Immediate Payments, Retail PaymentsWhat do banks – one with $60B+ in assets, one a mid-size regional bank, and one, a small innovative credit union – have in common with payment networks and the ‘Big 4’ consulting firms? They were all part of the first ACI #PaymentsForBreakfast event in North America! The theme was real-time payments, but the focus was more specifically on Request for Pay.
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Why Open Banking Might Need to Rely on a Magic Illusion of 24x7 Availability
Tuesday, October 16, 2018 Lu Zurawski to Immediate Payments, Retail PaymentsThe adage “the more things change, the more they stay the same” appears to ring true when applied to the early phases of the evolution of open banking (or open payments). Especially when you contrast it with the early days of ATM withdrawals; particularly those made in the dead of night so you could pay cash for your after-party greasy feast.
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Sibos Preview: The Five Trends Transforming Real-Time Payments
Monday, October 15, 2018 Craig Ramsey to Transaction Banking, Payments and Industry Trends, Retail PaymentsReal-time is now a reality, with more than 30 schemes live around the world. And real-time is in the spotlight as banks and financial service providers make their way to Sydney for Sibos 2018. What better time to look ahead at the key trends that are going to shape the ongoing development of real-time payments.
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Winners and Losers in the Regulation Vs Competition Debate? How About New Business Models?
Friday, October 05, 2018 Mark A. Ranta to Retail PaymentsAs Summer has abruptly turned to Fall, I have found myself daydreaming of a European vacation (and yes, I realize it’s Fall there too… or rather, Autumn). Maybe it’s the Instagram feed full of friends on a summer sojourn to Italy, France, or Germany, or the constant barrage of Premier League kickoff commercials on the NBC Networks (Let’s Go Gunners!), but yesterday it was something else entirely that had me drifting off into a memory-induced Nutella-crepe state of euphoria.
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API Management: The Reason Digital Open Banking Can Fly
Monday, October 01, 2018 Geoff Tunbridge to Retail Payments, Transaction BankingWhen it comes to thinking about the different roles that an API Manager can play for an organization, I personally think that an airport provides the perfect analogy. The customer is the passenger, the third-party organizations using a bank’s APIs are the airlines and the airport itself is the bank. I also think this analogy helps to visualize the variety of API management capabilities – including the role of an API gateway.
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The Mexican Fintech Revolution – ¿Qué onda in Open Banking?
Wednesday, August 22, 2018 Rachael Tomaney to Retail Payments, Payments and Industry TrendsMexico has joined an elite group of nations, being amongst the first to pass open banking regulations. Specifically designed to open up its financial services and technology sector, the so-called ‘Fintech Law’ appears to have taken notes from PSD2, UK Open Banking, Singapore’s ‘organic’ approach, and others – and balances these against Mexico’s unique context and aims.
ACI’s Lu Zurawski, one of the industry's foremost open payments experts, and Sonia Gomez, a Latin America payments authority, discuss this balancing act; including the drivers, the regulation and the potential benefits.
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Working Up An Appetite for APIs in Australia
Friday, August 03, 2018 Brad Kean to Retail PaymentsThis week ACI hosted the latest installment of our #paymentsforbreakfast forums in Australia, with the early birds catching the open banking worm in both Sydney and Melbourne.
Given the similarities between the Australian and UK open banking movements, we enticed ACI’s UK-based Lu Zurawski (Solutions Practice Lead - Retail Banking) to Australia to share his learnings from being heavily involved in the UK Open Banking working group.
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APIs and Cash Management (Harnessing the Hammer, Part 2)
Friday, May 04, 2018 Mark A. Ranta to Retail PaymentsIn my last blog post, we talked about the hammer and the nail; the hammer in this case being open APIs, and the nail being the market need to adapt to changes in customer behavior and expectations from our commercial market. We laid out why the US is in a different position when it comes to open APIs—it has to do entirely with the regulatory environment, which is allowing us to start with the largest revenue opportunity first. Finally, we challenged you, the reader, on how you can begin on your journey. And that is where we are going to pick things up. What steps can you take today, and what use cases can you explore as we start getting our hands dirty?
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Three Key Takeaways from the Latest Payments Insight Survey
Thursday, May 03, 2018 Paul McMeekin to Retail PaymentsBlinkist is a reading app that summarizes books into 15-20 minute reads; these reads are called “blinks.” It’s helpful for a few reasons – I can scan books before I purchase them, I can get new ideas without having to read the full book, and I can learn to summarize information. It’s safe to say that I (and probably many who are strapped for time) are a little obsessed with Blinkist! So here I present my own summary – in three key takeaways – of the new ‘2018 Global Payments Insight Survey: Retail Banking,’ which finds that 51% of banks are increasing spend on payment technology.
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The Hidden Cost of Digital Payments for Retail Payment Players
Wednesday, March 07, 2018 Rob Penn to Retail PaymentsIt is not exactly breaking news that non-cash payments are on the rise globally, with column inches dedicated to the launch of digital financial-inclusion projects. But going cashless is not only a challenge for humanitarian endeavors, or developing countries. We all agree that removing cash from the system will save payments players big bucks in the future, but we must also consider the immediate impact of digital transformation on the legacy infrastructure of the powerhouses of the payments ecosystem.