Displaying 1 - 10 of 111 Retail Payments blog posts
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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.
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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.