Pay with Bank transfer’s Post

Yesterday I was invited by the PSR to sit on an esteemed panel with these absolute powerhouses, Kate Fitzgerald, Phillip Mind, Jane Moore and Maria Booker, chaired by the fabulous ✯ Helen Child ✯ as we all discussed how we make sure VRP's, and wider Open Banking payments, are developed in a way that sees them thrive... finally cracking a competitive alternative to cards. Such a genuinely varied panel. Surprisingly... much we agreed on, but also a few areas where we enjoyed questioning and challenging our views, giving JROC some food for thought! I will forever be a huge champion of Open Banking payments, but as I outlined on the panel, I believe there are still some critical developments that need to happen before we can truly unlock retail payments in this space: 1. Cost - make Open Banking payments more affordable for merchants than card payments, for ALL transaction values... as it stands the cost savings only exist for expensive goods... this isn't attractive for high street retailers. 2. Speed - OB transactions need to get faster than the current ~30 seconds. 3. Omni-Channel accessibility - unlock the power of digital wallets and remove the issue of necessary investment in new front end terminals/technology. 4. Customer incentive & recognition - a single unified acceptance mark/logo that has some level of description & builds familiarity & recognition (Pay by Bank sounds pretty good if you ask me 😁) The tough job comes now as JROC navigates the issue of commercial sustainability while continuing to recognise that costs have to be low if you want merchant buy-in! One of the best panels I've had the pleasure of sitting on, thanks PSR for the great event!

In the first four posts of this five-part series, we covered the rules of payment processing for high-risk merchants, what causes processors to shut down merchants, and how merchants can stay operational with one or many PSPs. This post, the final installment of the series, will cover: ➡️ What it takes to be a high-performing merchant ➡️ Case study: How Passes thrives with Basis Theory ➡️ Resources for merchants to learn more about high-risk payment processing https://hubs.la/Q02b2hl70 #highriskmerchants #highriskpayments

When it comes to payment service providers, is their work getting more or less complicated? In the newest Payments on Fire episode, Yvette B. sat down with Trevor Nies, who leads Adyen’s digital payments organization, to explore this question as it relates to pay by bank. Tune in to the full episode to hear Trevor's other two ingredients for the perfect pay by bank environment recipe. 🎧 Listen here: https://lnkd.in/geAC79kd #payments #paybybank #paymentserviceproviders #PSPs

Streamlining every purchase is no easy task. Pay by bank continues to gain traction and is becoming a real alternative to cards, and offers a new way for retailers to recover sales and grow revenue. Join TrueLayer’s Nadja Bennett 📱🏦 and expert panellists from the likes of Superdry and National Express LTD, as we unpack open banking payments at the checkout at 👉 EPAY SUMMIT #openbanking #A2A #Paybybank #ecommercecheckout

Did you know nearly half (49%) of Gen Z state that the buying experience is just as important as the product they’re buying? It was such a pleasure speaking at the American Banker Payments Forum last week with Mike Storiale and Lucas Elliott, PhD, MPH discussing how Gen Z is transforming the payments landscape, and how #teamvenmo and Synchrony are designing products and solutions to meet their evolving needs. Link: https://lnkd.in/gMETv7re

Venmo has a great leader in Erika Sanchez and one who is definitely keen on delivering on Gen Z's and the next generations' expectations for payments—and the entire financial ecosystem as a whole. It was a pleasure to be part of last week's American Banker's Payments Forum panel talking with Erika Sanchez and Mike Storiale (Synchrony) about how Gen Z is transforming the payments/finance landscape. Key takeaways to empower Gen Z through the purchase journey: 📱 Accessibility—meet Gen Z where they are (e.g., social media, phones) 👩 Personalization—They've grown up on Netflix/TikTok, and they expect personalized experiences 📖 Educate—Financially literate consumers feel more empowered to purchase #finance #fintech #payments #consumerbehavior #GenZ (Thanks for the support: Rebel, Leah Hacker, PayPal, Erin Mackey, Tyler Allen, American Banker)

𝐈𝐟 𝐲𝐨𝐮’𝐫𝐞 𝐚 𝐦𝐞𝐦𝐛𝐞𝐫/𝐜𝐥𝐢𝐞𝐧𝐭, 𝐲𝐨𝐮 𝐜𝐨𝐮𝐥𝐝 𝐚𝐜𝐜𝐞𝐬𝐬 𝐲𝐨𝐮𝐫 𝐜𝐮𝐬𝐭𝐨𝐦𝐞𝐫𝐬’ 𝐦𝐨𝐧𝐞𝐲 𝐟𝐚𝐬𝐭, 𝐭𝐡𝐚𝐧𝐤𝐬 𝐭𝐨 𝐧𝐞𝐱𝐭-𝐝𝐚𝐲 𝐬𝐞𝐭𝐭𝐥𝐞𝐦𝐞𝐧𝐭* 𝐟𝐫𝐨𝐦 𝐨𝐮𝐫 𝐥𝐚𝐭𝐞𝐬𝐭 𝐩𝐚𝐫𝐭𝐧𝐞𝐫 @𝐁𝐚𝐫𝐜𝐥𝐚𝐲𝐜𝐚𝐫𝐝_𝐏𝐚𝐲𝐦𝐞𝐧𝐭𝐬. Whether you’re trading online or face-to-face, you could also save money thanks to our specially negotiated discount on merchant charges.   With Barclaycard Payments, your business could also benefit from:   • the latest flexible card readers that let you take customer payments almost anywhere • leading online payment solutions that integrate easily with most eCommerce platforms • no cancellation fees   Learn how they could help you: https://lnkd.in/dGpWRTvQ   *The partners may receive commission from each other. Please check merchant’s terms and conditions at https://lnkd.in/eVe8TKUA. Subject to application, financial circumstances and borrowing history. To receive next-day settlement, transactions need to be taken before 9pm. T&Cs apply.  

Get ready for 2024 challenges & opportunities with fresh insights from 160+ Industry experts, connect with 1400+ Industry peers & learn what’s next for European merchant payments in 2024. Register now and SAVE 10% off, use our promo code: “fintechpower10” https://hubs.li/Q02nl-r70. Merchant Payments Ecosystem

Cash Payments Make a Comeback: Embracing Convenience and Choice In a recent move that marks a significant shift in payment options, Market Place is reintroducing cash payments after temporarily removing them from their transaction methods. This decision comes as a response to customer feedback and evolving preferences, emphasising the importance of providing a diverse range of payment options to meet varying needs. We now accept cash and card payments in 2 of our 4 sites. Has anyone else had the same demand from their customers? 🤔 #marketpace #adaptation #businessnews #businessupdates

🌟 Announcing "Payments: What The FAQ" Series! 🌟 Dive into the world of payments with us, as we discover its complexities one Frequently Asked Question at a time. In our first episode an introduction to...🥁 "Between the issuer, network (Visa/MC), acquirer, and processor, who makes how much money?" 🎥 Tune in as we journey through the payment system value chain, shedding light on the cost dynamics that power our daily transactions. 📣 Stay tuned! #Payments #PaymentsAcademy #PaymentGenesAcademy