Katie Nafius’ Post

"Payment will never be static", said Menger. As the human condition evolves, so too will #payment systems. If consumers see the option of a more convenient form of payment, they will automatically gravitate towards it. However, #global merchants often face a complicated situation, having to accommodate a myriad of country-specific schemes and nuances. Choosing to accept more payment methods and choosing how to accept them are two different things. Often digital merchants ask themselves: Are local payment methods necessary and how to make sure that chosen payment methods are right to your business and customer’s needs? In collaboration with Payments Cards & Mobile discover in our recent white paper: How have payments changed? When it makes sense to implement local payment methods in your checkout? How to choose the best local payment methods? Read our white paper now: https://lnkd.in/dfaB8NvQ #localpaymentmethods #boku #whitepaper

Visa: 80% of Face-to-Face Transactions Internationally Are Tap to Pay Visa’s fiscal third-quarter results showed continued momentum in new payment flows — and the further embrace of contactless payments in brick-and-mortar, face-to-face transactions. “Tap to Pay” grew 4 percentage points from last year to 80% of face-to-face transactions globally... https://lnkd.in/e2j5eM6X For more expertly curated fintech and payments news for industry thought-leaders and future-makers visit us at https://lnkd.in/eXZMYTsh #futureofpayments #payments #paytech #fintech #fintechleaders #futureinnovation

PAYMENT BY QR CODE IS LEADING THE CASHLESS PAYMENT RACE _ The digital payment market in Vietnam is a vibrant competition between e-wallets and QR payment codes of commercial banks. This competition is expected to become increasingly fierce and only a few warriors will survive in the long run. According to a survey by Visa card organization published in March, the QR code payment method is popular with a rate of 62% and 16.2 million transactions per month. Even though it was born earlier, e-wallets ranked second with a rate of 58% and 15.5 million transactions per month. In 2019, the appearance of VietQR helped the digital payment market in Vietnam achieve the world's leading growth rate, an average of 35% per year. According to Deputy Governor of the State Bank Pham Tien Dung, total transactions have reached 7-8 billion in the past year. Vietnam's digital payment market is expected to reach a total transaction value of about 160 billion USD in the upcoming 2025. More than 40 domestic commercial banks are competing strongly with 51 e-wallets and intermediary payment platforms in Vietnam, according to the State Bank. While wallets focus on building an ecosystem with many attractive promotional campaigns, banks' QR codes only perform the "simple" task of real-time payment. But it also signifies the fierce competition between e-wallets and QR payment codes. Although there are many similarities between the two forms of payment, there are still many groundbreaking differences. QR codes can allow users to pay faster. If it is a QR code that is identified as belonging to a business, the QR code will help increase the reputation of the business and customers can flexibly use the source of money to suit their needs. consistent with personal financial plans. CEO Le Lan Chi of ZaloPay believes that the VietQR boom will boost the entire market because consumers are transitioning away from cash much faster. “This race is somewhat tilted towards delivering value to sellers. Because users don't care too much about which QR code they are scanning," the CEO said. Source: Ricky Hồ - Kinh tế Sài Gòn Online.

Digital payments are here to stay, shaped by consumer demand for faster and more seamless payment experiences in Asia Pacific. According to Visa research, some 88% of SMBs adopt some form of digital payments, while 70% of SMBs who have done so have reported increased turnover. What payment solutions are critical for SMBs in Asia Pacific and how can financial institutions, payment networks, fintech platforms and more help more SMBs reap the rewards of the digital shift? Read more on our website: https://vi.sa/3VRRZRl #SmallBizBigFuture

"When it comes to card issuing in the coming years, plastic may become optional, reserved for use cases such as travelling abroad. We observe a ‘digital-first’ approach where banks can issue a card immediately, such that it can be used in e-commerce and be deployed on digital wallets such as Apple Pay and Google Pay.” Find the full interview with Guillaume Leclerc, Senior Pre-sales Consultant HPS, at the following link: https://lnkd.in/e-WEHPWA FF News | Fintech Finance #Feelgoodaboutpayments

EXCLUSIVE: "A Tangled Web" - Guillaume Leclerc, HPS in 'The Paytech Magazine' "The point of sale is changing. Or rather, everything around it is. How people pay involves an increasingly complex web of systems. The technology needed to ensure a payment goes ahead as quickly and safely as possible is becoming increasingly sought after as a result. The payments orchestration market is estimated to be around $1.2billion and could reach as much as $3.5billion in the next two years. So, why the complexity? To give us a better understanding of the behavioural trends driving growth in this area, we spoke to payments expert and consultant at HPS, Guillaume Leclerc." https://lnkd.in/e-WEHPWA #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

Visa is revolutionizing B2B payments with push-to-wallet for virtual cards, ensuring secure, efficient, and fully digital payment experiences. As virtual card use accelerates, these tools are key to optimizing business operations. #B2BPayments #DigitalInnovation #Visa

📊 Did you know? 55% of consumers abandon a purchase if they can't use their preferred payment method, and 29% of global POS sales are made through digital wallets. These stats highlight the critical role of payment solutions in global market entry. Key Strategies for Market Entry: 🌐 Diverse Payment Options: Enhance customer experience and loyalty by offering local payment methods. 💰 Cost and Risk Reduction: Use competitive exchange rates and advanced fraud detection to lower costs and risks. ⚙️ Streamlined Operations: Integrate seamless payment systems to improve efficiency and reduce administrative burdens. ✅ Regulatory Compliance: Ensure compliance with international regulations for smooth transactions. Silkpay supports businesses in various industries, including retail, e-commerce, travel, and hospitality. By providing support for over 30 payment methods, such as #visa, #martercard, #applepay,#alipayplus and #wechatpay, Silkpay ensures a seamless and localized payment experience for customers. 👉 Read the full article here:https://bit.ly/4dfFPHl #globalexpansion #crossborderpayments #marketentry #customerexperience #businessefficiency #ecommerce #retail #paymentsolutions #internationalmarkets #fraudprevention #localizedpayments #regulatorycompliance

Visa Unveils SMB Online Toolkit to Maximize Benefits of Contactless Payments for Vietnamese SMBs Read more: https://lnkd.in/d_byEBVP #Visa #SMBToolkit #ContactlessPayments #VietnameseSMBs #FintechSupport #Finance #Fintech #FinancialIT

Many people think payment orchestrators like Yuno are innovating payments. Wrong. We're an evolution of payment solutions. It all started back around 1996. That's when the first online payment transactions took place in Europe. Soon after, we saw the emergence of the original payment gateways - names like: - DataCash (later bought by Mastercard) - Bibit (acquired by Royal Bank of Scotland) - Authorize .Net and CyberSource (currently Visa) These early gateways did one crucial thing: They connected a merchant's website to an acquiring bank. Simple, right? But for 15-20 years, this was the game in town. Fast forward to today. Orchestration has emerged as a sophisticated evolution of the payment gateway. As my friend Juan Pablo Ortega says, "Orchestration is a gateway on steroids." - I love that analogy. At our core, we're still doing the same fundamental job - taking a transaction from one place and carrying it to another securely. But now, we're offering a plethora of added value services and optionality. The key difference? Ease of use. It's not just about connecting A → B anymore. It's about connecting A → a multitude of options → B. This evolution wasn't innovation for innovation's sake. It was driven by: - Merchant needs - Technological advancements - Market liberalization in various regions across the globe As we continue to evolve, I'm excited to see how we'll further transform the payment landscape. After all, in payments, the only constant is change.