Graeme Wattie’s Post

The retail market is vast, as it size amounts to $28.2 trillion. No wonder businesses look to sell goods and services here. Yet, they sometimes struggle with obtaining merchant registration and accepting payments. 🔥Payment Facilitation or PayFac is a collaboration approach between merchants. It allows businesses to distribute their products or services without merchant ID (MID) registration needed. For this, businesses need the assistance of a registered merchant, offering to accept and settle payments for them. ✅PayFac model is an excellent choice for most small and medium businesses that don’t have an existing digital retail platform with a payment processing flow integrated, cannot obtain a MID, or just looking for fast market entry. 👉Scroll the carousel to explore essential information about PayFac in business. #Fintech #DigitalTransformation #Banking #Retail

Defining a comprehensive “Payments Strategy” is becoming increasingly important as Payments takes center stage of the strategic priorities for merchants. 🎯   Core strategic areas that merchants must focus on -    🚀 Payments is a crucial revenue growth driver. Crafting best-in-class checkout experience while supporting traditional and emerging methods of payments (APMs like Pay-by Bank).   🔗 Navigating complexities of managing multiple acquiring partnerships and optimizing for cost and performance.   🌎 Merchants eyeing international expansion must thoughtfully explore local partnerships for last mile connectivity.   💡 Integrating payments and loyalty for personalization of customer experience and broadening the reach.   👾 Deploying emerging technology and tools to fight chargebacks and fraud.   #Payments #Innovation #Fintech #PaymentsStrategy   Source: Oliver Wyman (https://buff.ly/3XksQ0E )

Payment facilitators, or PayFacs, are leading a revolution at the heart of the digital economy. Embedded finance is at the center of this transformation, integrating payments, banking, and credit solutions into retail platforms. PayFacs allow merchants, marketplaces, and software platforms to integrate sophisticated payments capabilities directly into products, enabling end users to transact seamlessly without leaving a merchant’s app, website, or software platform. This integration means a simpler and more efficient payment process for consumers. Are you ready to embrace the future of payments? #PayFacs #EmbeddedFinance #DigitalEconomy #fintech #fintechs #fintechnews #merchantservices #merchant #retailing #payment #payments #digitaladoption #digital #digitalpayments

Payment facilitators, or PayFacs, are leading a revolution at the heart of the digital economy. Embedded finance is at the center of this transformation, integrating payments, banking, and credit solutions into retail platforms. PayFacs allow merchants, marketplaces, and software platforms to integrate sophisticated payments capabilities directly into products, enabling end users to transact seamlessly without leaving a merchant’s app, website, or software platform. This integration means a simpler and more efficient payment process for consumers. Are you ready to embrace the future of payments? #PayFacs #EmbeddedFinance #DigitalEconomy #fintech #fintechs #fintechnews #merchantservices #merchant #retailing #payment #payments #digitaladoption #digital #digitalpayments

How Buy Now, Pay Later Became a Fintech Fixture "...Buy Now, Pay Later (BNPL) Technology has Revolutionised the E-Commerce Industry in Recent Years – but Many Believe Tighter Regulation is Imperative..." #bnpl #regulation #fintech #consumerfinance FinTech Magazine _____________________________________________________ If you want to immediately see new content that I post 👉🏻 Ring my bell (🔔) and follow #informationbanker or if you want to get the posts that got noticed in my weekly What’d I miss newsletter, subscribe here: "https://lnkd.in/d5_KvWwu"

𝗘𝗺𝗽𝗼𝘄𝗲𝗿 𝘁𝗵𝗲 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗼𝗳 𝘆𝗼𝘂𝗿 𝗺𝗲𝗿𝗰𝗵𝗮𝗻𝘁𝘀 𝘄𝗶𝘁𝗵 𝗣𝗮𝘆𝗕𝘆𝗟𝗶𝗻𝗸 💹 PayByLink is here to revolutionize the way you do business by adding a plus, apart from traditional payment methods. 𝗛𝗼𝘄 𝗣𝗮𝘆𝗕𝘆𝗟𝗶𝗻𝗸 𝗲𝗺𝗽𝗼𝘄𝗲𝗿𝘀 𝗺𝗲𝗿𝗰𝗵𝗮𝗻𝘁𝘀: ✔ 𝙀𝙭𝙥𝙖𝙣𝙙 𝙩𝙝𝙚𝙞𝙧 𝙧𝙚𝙖𝙘𝙝: merchants accept payments from anywhere in the world, reaching new customers. ✔𝙎𝙞𝙢𝙥𝙡𝙞𝙛𝙮 𝙩𝙝𝙚 𝙘𝙝𝙚𝙘𝙠𝙤𝙪𝙩 𝙥𝙧𝙤𝙘𝙚𝙨𝙨: merchants provide a seamless payment experience that drives conversions. ✔𝙄𝙢𝙥𝙧𝙤𝙫𝙚 𝙚𝙛𝙛𝙞𝙘𝙞𝙚𝙣𝙘𝙮: Streamline operations and reduce manual errors. ✔𝙀𝙣𝙝𝙖𝙣𝙘𝙚 𝙘𝙪𝙨𝙩𝙤𝙢𝙚𝙧 𝙨𝙖𝙩𝙞𝙨𝙛𝙖𝙘𝙩𝙞𝙤𝙣: merchants offer a modern, convenient payment method that delights customers. Banks? Acquirers? Ready to take your business to the next level? Discover the power of SocialCommerce today! #SocialCommerce #PayByLink #paymentsolutions #merchant #fintech #businessgrowth #acquirers #banks

The Buy Now, Pay Later (BNPL) industry has transformed how consumers shop and pay, driven by the surge in online shopping and the need for flexible payment solutions. Leading companies like Afterpay, Klarna, and Affirm have captured significant market shares, with the global BNPL market expected to grow at a CAGR of over 25% from 2023 to 2028. Regionally, BNPL has seen widespread adoption in the US, Europe, Australia, and the UK, where it has become a mainstream payment option. Emerging markets in Asia and Latin America are also beginning to embrace BNPL as digital infrastructure advances and consumers seek alternative credit options. Looking ahead, the BNPL sector has a bright future, influenced by several key trends: #RegulatoryDevelopments: Increased regulatory scrutiny will aim to protect consumers while fostering industry innovation. #CollaborationwithTraditionalFinance: Partnerships between BNPL providers and traditional banks will create integrated financial solutions that enhance user experiences. #TechnologicalInnovations: AI and machine learning will drive personalized BNPL offerings, improve credit risk assessment, and enhance fraud prevention. #SectorExpansion: Beyond retail, BNPL is making inroads into healthcare, travel, and education, offering flexible payment options across various services. As BNPL continues to grow, maintaining a balance between rapid expansion and responsible lending practices will be essential for a sustainable future. #BNPL #FinTech #FutureOfPayments #FinancialInnovation #GlobalTrends

Discover how Fiserv continues to meet the rising demand for Clover's point-of-sale solutions, reflecting a growing trend in digital payments and financial innovation. Gain insights from CEO Frank Bisignano's earnings call, highlighting Fiserv's robust performance and future outlook in the FinTech landscape. https://lnkd.in/guXSJ287 #Fiserv #Clover #POSSolutions #FinTech #DigitalPayments #MerchantSolutions #FinancialInnovation #EarningsReport #BusinessNews #FinancialTechnology

Difference between Payment Payment Gateway and Payment Switch: Payment Gateway: Facilitates online transactions by connecting a merchant's website to the acquiring bank. 1. Ensures secure authorization and encryption of payment details. 2. Provides an interface for merchants to input transaction details. 3.Key for online retailers to accept payments directly from customers. Payment Switch: 1. Operates behind the scenes, routing transactions between different financial institutions and networks. 2. Ensures smooth and efficient processing and settlement of funds. 3. Manages the complex flow of transactions across various channels and institutions. Together, gateways and switches form the backbone of seamless and secure digital payments. #FinTech #PaymentGateway #PaymentSwitch #DigitalPayments #Ecommerce #OnlineTransactions #SecurePayments #FinancialTechnology #MerchantServices #PaymentProcessing #BankingInnovation

What makes virtual bank accounts so important in e-commerce, marketplaces and fintech offerings? The Bank of London’s Charlotte Bullock has the answer … “Their flexibility and cost-efficiency makes them ideal for businesses needing to segment and monitor transactions for various needs.” In our latest insights blog, Charlotte joins Dan Turdean from our product team for a rundown on how virtual accounts can help your firm whether you are starting out, wanting to run it more effectively or looking to grow in or beyond your home market. #payments #EmbeddedFinance #BaaS Link to blog in comments below 👇