Displaying 1 - 10 of 114 Retail Payments blog posts
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From ‘Access to Cash’ to ‘Access to Digital’ – How Innovative Thinking is Keeping SMEs Trading
Monday, August 03, 2020 Lu Zurawski to Retail Payments, Payments and Industry TrendsWith millions of people in London and the wider U.K. having endured lockdowns and restrictions, the COVID-19 pandemic has had a massive impact on our shopping habits. While some supermarkets have struggled to keep up with customer demand and social distancing rules, many small, local business have adapted to the crisis quickly, efficiently and in innovative ways. While supermarkets have run out of delivery slots, smaller businesses are now offering local deliveries whilst providing safe digital payments options. They are also selling goods that the big supermarkets have run out of because traditional supply chains have been interrupted.
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Scale, Speed and Differentiation – How Acquirers Can Thrive in the 2020s
Wednesday, July 22, 2020 Katrin Boettger to Retail PaymentsNew players, changing consumer behaviors and expectations, shrinking margins and more regulations – the world of acquiring is changing fast. How can acquirers thrive in the 2020s? ACI debated this question during a recent webinar, and I talked to the participating panellists – Carlos Perez Rubio, senior principal product manager, ACI Worldwide, George Peabody, partner, Glenbrook and David Gale, vice president – Technology, Moneris – and asked them how acquirers should prepare for the future.
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For LATAM’s Financial Institutions, Long-Term Success Runs Through the Public Cloud
Wednesday, July 08, 2020 Mauricio Idárraga to Retail PaymentsIn just a few short years, the public cloud has become an invaluable driver of innovation, cost savings and security for businesses throughout the world. For the LATAM region, which is already experiencing an acceleration of its modernization efforts due to the COVID-19 pandemic, the public cloud can serve as a gateway for transformation — helping to deliver long-term success, particularly as we enter the era of real-time payments.
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No Margin for Error: Acquirers Must Now Master the Art of Reinvention [Q&A]
Monday, May 18, 2020 Katrin Boettger to Retail PaymentsThe digital transformation of banking and growing competition within the industry is rapidly changing the world of global acquirers. Long gone are the days when an acquirer’s primary role was simply to facilitate an acceptance ecosystem for credit card payments. As part of its new “Prime Time for Real-Time” report, ACI recently published No Margin for Error, an eBook looking at the changes — and challenges — facing acquirers. I spoke to Ruth Fornell, our executive vice president – consumer payments, about the key insights, why acquirers are being forced to rethink their business models and what the future may hold.
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Digital Payments: A Creature Comfort in the Era of COVID-19
Wednesday, May 13, 2020 Silvia Mensdorff-Pouilly to Retail PaymentsHumans have an impressive ability to adapt – and have quickly done so in terms of their spending behaviors and choice of payment methods in response to the COVID-19 pandemic. Lockdowns forced many to consider cash alternatives to make payments, driving a huge surge in demand for digital payment services. And in some European countries, demand has risen as much as 81 percent.
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Why Human Nature Presents a Challenge for Acquirers
Thursday, May 07, 2020 Lu Zurawski to Retail PaymentsIt’s one of the great paradoxes of human behavior: people are predictably unpredictable. We work in irrational ways, hearts win out over heads and the unexpected can rapidly become the norm. Try as we might, predicting the emergence of any new trend is difficult – particularly in unpredictable times – and this is just as true in the world of payments as it is elsewhere.
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Taking a Holistic View of ISO 20022 Migration and Payments Modernization in the Pacific
Wednesday, May 06, 2020 Austin Puthur James to Immediate Payments, Retail PaymentsToday’s payments modernization efforts, most notably real-time payments, not only work to satisfy changing consumer preferences and behaviors, they also serve to future-proof national economies throughout the world. But for real-time payments to deliver maximum value, consumers and financial institutions must be able to exchange meaningful and actionable information — hence the development of ISO 20022, a standard for electronic data interchange that facilitates the fast, standardized and secure exchange of financial messages across borders.
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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.