The Paypers’ Post

In the #UK & #Europe Ecommpay partners with Mastercard by incorporating Click to Pay. Mastercard estimates that traders and businesses can increase approval rates by as much as 3% and reduce checkout times by up to 50%. More on this from The Paypers

#payments peeps: it is Friday, and we should celebrate 1+Trillion global market for Cards and Payments in 2024. It is also reported that top Ten Payments Companies Processed $10 Trillion in Payment Card Volume last year with more to come in 2024...so money talk is finally an fun topic?? 📖 What does it mean for all of us after the first 90+ day of the year ? 💡 Perhaps, it is worthy to note that all regions are expected to grow their volumes, spend and ....challenges - Be APAC, EMEA and Americas. Also a push for debit and credit transactions globally in addition to routed ones (cross border or not) should encourage sustainable growth in the ecosystem. 💥 For all teams involved in the cards/payments sector, here are some plans: 🙌 #innovation and investments lead the way to delight digital experiences and limit frictions/frauds. Many merchants' are deploying new capabilities, including compliance with for EMV technology, 3-D Secure services Payment Card Industry Data Security Standard (PCI DSS), tokenization, biometrics, or mobile experiences. Do you have the capabilities and budget yet? 🔖 I can't help to think how exciting the next few months are going to be for me, assisting with your #engineering priorities (with or without AI in the mix). It is my opinion that each #payment teams should be really busy and I want to help; Be POS, Mobile new business models #Fintech and or legacy/cloud migrations across networks, banks, acquirers and processors. ISOs - we are prepared to help - terminal vendors - and all others who are wooing their users (and us, as consumers,). There is No status-quo planned for 2024 !. 💵 Thank you to Mastercard Discover Financial Services American Express FIS Fiserv but also all other processors, merchant acquirers' partners we serve. Be Terminal manufacturers, ISV, Gateway partners or Apple and Android. We are a part of the payment community dedicated to making the "money talk" more fun ! while making the transactions smart(er), faster and more reliable globally. See you in Vegas Electronic Transactions Association ETA - ThoughtFocus #Aws #Visa and Happy Holi week #India

In the ever-evolving realm of commerce, where giants like Visa and Mastercard have long held sway, businesses find themselves at a crossroads, bracing for potential fee hikes. But what’s out there for merchants wanting diverse e-commerce checkouts? Paul Marcantonio, Head of Ecommpay UK and Western Europe, reveals the secrets to diversifying e-commerce checkouts on Finextra. 💸 Read on to explore regional methods and the lightning-fast Open Banking option, that can just fit your business right 👇 https://lnkd.in/eZ4tnfDz #Ecommpay #paymentsolutions #paymentsinnovation #visa #mastercard

What types of tokens are there? There are several distinct types of #payment tokens in payments: 🔹 Acquirer tokens are generated by acquirers when they process cardholder transaction requests on behalf of merchants. Acquirers typically return these tokens to merchants in their transaction response. Acquirer tokens are specific to acquirers, that means they generate them, own them and are the only ones who can use them. 🔹 Issuer tokens are generated by card issuers for specific use cases, including card-based applications such as Apple Pay, Google Pay and Samsung Pay. These tokens are usually provided to a cardholder’s mobile app, card chip or wallet applications. Issuer tokens belong to the issuer, instead of the merchant, and so may not be as useful for facilitating customer journeys within a merchant’s environment. 🔹 Network or scheme tokens are generated by the Visa, Mastercard, American Express, Discover, JCB and China UnionPay credit card networks. Each card network operates its own scheme token service. As a result, network or scheme tokens are similar to issuer tokens, with the key distinction that they’re generated by card networks, not issuing banks. 🔹 Payment tokens are a relatively new variant of issuer tokens, generated on behalf of at least one card issuer in a framework known as a token program. Merchants and cardholders can request these tokens for specific use cases. For example, a cardholder may request a device-specific token if they initiate a transaction through a mobile application. 🔹 Merchant tokens are generated specifically for a merchant by a provider of its choosing. The provider generates a merchant token after a cardholder tenders their card for transaction processing. Even though they’re created by a third-party provider, merchants own these tokens. This means merchants can incorporate these tokens into customer journeys and business processes within their environment, as well as use them in conjunction with other tokens. For example, a merchant token can be linked to multiple acquirer and issuer tokens, which enables the merchant to support multiple acquirers. Merchant tokens tend to be multi-use, format-preserving tokens. #fintechnews

The way we make payments has fundamentally shifted. Only around 13% of Australian payments were made with cash in 2022 — and we’re more comfortable making purchases online than ever before. In 2022, 18% of retail payments were online, up from 12% in 2019 and just 4% in 2007 — and that figure jumps again in categories like leisure, holidays and bills. #Sponsored ANZ Worldline Payment Solutions means Worldline Australia Pty Ltd ACN 645 073 034 (“Worldline”), a provider of merchant solutions. Worldline is not an authorised deposit taking institution (ADI) and entry into any agreement with Worldline is neither a deposit nor liability of Australia and New Zealand Banking Group Limited ACN 005 357 522 (“ANZ”) or any of its related bodies corporate (together “ANZ Group”). Neither ANZ nor any other member of the ANZ Group stands behind or guarantees Worldline.

In a bid to unearth new means to ease the customer journey, JCB International (Europe) Ltd. and Worldline have launched a new whitepaper seeking to empower European merchants. Both payments companies found that frictionless payment methods are hampering the customer journey as the most common cause of a downfall in loyalty and an uptick in cart abandonment, two foremost concerns for retail merchants. JCB and Worldline revealed the key components that make a frictionless payment journey; seamless integration, payment options, transparency and fewer steps to complete. https://lnkd.in/eEWaMKax

I had a great conversation with Terry O'Neil, a #payments leader at Citi responsible for spearheading #embeddedpayments and strategic initiatives. Terry provides insights into Citi’s approach to embedding a wide array of financial products, including payment solutions, private label offerings, and lending products, directly into the fabric of merchants’ point-of-sale systems. Here were some of the big ideas we chatted about during our discussion: 💲 The Evolution of Embedded Payments: “It really is about how we think about embedding payment products, private label products, general purpose credit card products, and lending products into merchants’ point of sale…” As consumers demand more seamless payment experiences, companies like Citi are focusing on embedding diverse financial products directly into merchants’ systems to enhance convenience and drive sales. 💲 Streamlining Integration for Merchants: “How we ensure that we’re streamlining how merchants integrate products with Citi, making sure that it is easy, that it is intuitive, doesn’t require a heavy tech lift…” Simplifying the integration process for merchants is paramount, as it ensures swift adoption of payment solutions and enables businesses to focus on driving sales without the burden of complex technical requirements. 💲 Meeting Consumer Demand for Flexibility: “90% of consumers want multiple payment options in the checkout… they want to see payment flexibility.” With an increasing demand for choice and flexibility among consumers, payment providers are prioritizing the development of solutions that offer various payment methods and transparent terms to cater to diverse preferences. 💲. The Intersection of Physical and Digital Commerce: “Consumers are expecting to have that same flexibility in the physical store.” As digital payment options proliferate, there’s a growing expectation for seamless integration between physical and digital commerce environments, prompting companies to bridge the gap and provide consistent payment experiences across channels. It was a high energy and interesting conversation! Listen to the whole episode here: https://lnkd.in/d38TRNbz

Hi fintech enthusiasts. After a brief hiatus, I’m back with my rundown of recent news in fintech. 💳 The European Commission announced that Visa and Mastercard have volunteered to extend the caps on tourist card fees until 2029. The fee caps were originally established in 2019 after a lengthy investigation by the Commission following a complaint by EuroCommerce in 1997. The complaint objected in principle to interchange fees charged in POS card systems, “as long as they are not set in a transparent manner and … remain a ‘non-negotiable’ cost to merchants.” While EuroCommerce later withdrew its complaint, the Commission pushed forward with its investigation and capped non-EU debit card fees at 0.2% and credit card fees at 0.3% for five years. I haven’t seen any studies on the impact of these caps on merchants and consumers but welcome any insights on the topic. 💳 At the end of June, US District Judge Margo Brodie rejected Visa and MasterCard’s swipe fee settlement agreement with merchants. In rejecting the settlement, which was projected to save merchants upwards of $30b, Judge Brodie stated “the estimated $6 billion in annual savings to merchants is paltry compared to the $100 billion that merchants paid in interchange fees on Visa and Mastercard transactions in 2023. Both companies could withstand a substantially greater judgment.” Given how long it took to reach the initial settlement, I don’t expect significant updates on the situation anytime soon. 💳 Target announced that as of July 15, it will no longer accept personal checks. For those following the payments industry, this was inevitable with the rise in demand for digital payment options. According to a survey by GoBankingRates, about half of people under 55 “don’t write a single check the entire year.” It seems Target is looking at the same data and likely made this decision due to the low volume of checks used for payment. #payments #fintech

Say goodbye to manual card entry — Mastercard ushering in a new era of one-click online payments. 🔜 Mastercard is working with banks, fintechs, merchants and other partners to phase out manual card entry for e-commerce in Europe by 2030, in favor of a one-click button that will work on any online platform. 🔴 Mastercard is introducing payment passkeys for online transactions, using the on-device biometric authentication most people already use to log in to their phone and other accounts, eliminating the need to remember passwords or check texts or emails for one-time passcodes. 🟠 Mastercard is also making it easy to embed #ClicktoPay, its online checkout solution, into merchant sites and enabling bank partners to make Click to Pay a default card feature through cardholder auto-enrollment. 🔵 Mastercard has built on industry standards to allow cardholders to easily create Mastercard passkeys, either during a checkout flow or within their issuer’s banking app. 🟤 Today, around one in four Mastercard transactions globally are tokenized, and this is accelerating by 50% year over year, because it has proved effective in reducing e-commerce fraud while at the same time improving approval rates.

💲 Fast Payment Processing for Retailers With Personalized Support When from Worldpay! 🌎 Worldpay from FIS processes over 40 billion transactions annually through more than 300 payment methods. 💳 At Celerant, we prefer to offer our retailers options - and that includes options for payment processing. 🚀 Worldpay is one of our many options, for in-store and online sales through the Celerant point of sale and/or eCommerce! ⚙️ Here's how the integration works: 🔁 Facilitate payment processing options for in-store and online transactions. 🏦 Accept a wide range of popular payment options from cash, digital wallets, plastic, and checks. 🔏 Securely process plastic card transactions with enhanced security measures using EMV chip readers. An added bonus? 🤝 Retailers have the backing of WorldPay when there are fraudulent charges and chargeback disputes to help them capture more legitimate transactions in all processing channels! If you're a retailer looking for a #paymentprocessor, get in touch with Celerant at the link below to get started! ☎️ https://lnkd.in/grAZWGm5 #DigitalPayments #ChargebackProtection #FraudResolution #PaymentPartner #eCommerce #PointofSale