Instant and Open Payments for Consumer Purchases – Lessons Learned From India and Beyond

Did you know that 65% of merchants want to accept instant payments? That’s because they know the customer experience (CX) benefits will drive growth for their business, and they recognize that this payment type will save their business money.

What it Means for a Bank to be Real-Time Ready – It’s More Than Just Payments

Banks are quickly learning that real-time enablement of the business is more than just a technological upgrade – there is a wider challenge of transforming services and customer experience. Although the banking world faces this challenge with some trepidation, there are success stories from other industries that have overcome legacy technologies and transformed frustrating and opaque customer experiences.

What We Talk About When We Talk About Digital Transformation

The recent headline grabbing announcement that Banco Santander has signed a USD $700M contract with IBM got me thinking… what’s up with ‘Digital Transformation’ these days? Santander’s announcement was all about digital transformation… and they are a forward-thinking bank. The new global technology agreement is designed to increase efficiencies in the bank’s operations, enable it to be more innovative and deliver new products, faster. But not every bank can pony up $700M and not every bank has suitable technology in place. It got me thinking, what is actually needed for digital transformation?

Putting Malaysia on the Path to Payments Innovation

The public launch of the DuitNow instant credit transfer service, in December 2018, provides just a taste of what lies ahead as Malaysia’s Real-time Retail Payments Platform (RPP) is progressively rolled out. Fueled by Bank Negara’s (BNM) increasing support for e-payment platform development, there has been a steady increase in mobile wallet and digital payment usage, setting the stage for 2019 to be a year of transformation for the payments industry in Malaysia.

Gen Z: Chronic Late Payers

Why More Than Half of Gen Z Pays Late

The newest generation of consumers to enter the workforce is Dazed and Confused about how to make bill payments (and they most likely don’t get that reference). In fact, 80% of Gen Z contact companies with billing questions and 53% pay their bills late. But it doesn’t have to be this way.

Adding a Global Payments Layer for Future Growth

Digitization has changed the payments industry completely and irrevocably. Cash payments are in full retreat, as more people pay digitally – with more than 1.6 billion people now shopping online. The digital customer expects an extremely fast and convenient payment experience, with high security standards, and immediate availability of payments information.

The Potential of 'Request to Pay' to Revolutionize Payments

How often have you been in a situation where you realize in the middle of the month that you’re late paying an important bill? And then hit with a wave of dread as you check your bank account with trepidation to see if you can pay? Many of us are lucky to not be in that situation regularly, but most of us have been there at some point, and likely know others who are regularly confronted by this situation.

Hitting Back Against Telco Fraud with Positive Profiling

Fraudulent activity costs telecommunications companies billions of dollars every year – and it hits these telcos in many different forms. According to reports from CFCA (Communications Fraud Control Association), over USD $12 billion is lost annually purely to consumer-based fraud attacks such as subscription fraud and account takeover. These are fast becoming the biggest growth areas for fraudsters in the telco industry.

Major League Baseball’s Tampa Bay Rays Tell Cash, “You’re Out!”

As a lifelong baseball fan and former resident of Tampa, Florida, I had the pleasure of spending a summer night or three at Tropicana Field, watching my beloved New York Yankees take on the hometown Tampa Bay Rays. And as a fan of cheap tickets, air conditioning in the Florida summer and plenty of great seats, I always enjoyed the “The Trop” despite its poor reputation.

Four Questions to Drive Your Retail Banking Payments Strategy in 2019

I keep hearing that it’s “an exciting time to be in payments,” and I certainly agree that there is a lot of noise. However, when I look below the surface, I’d argue that the interesting activity is not with the payment itself, but with all the related events and steps in the value chain.