Stripe\u2019s the latest acquirer seeking a special banking charter. Fiserv made the move before Stripe, last year.\u00a0
\nIn the current landscape where payments processors want to maximize operations by minimizing costs, while expanding their business models, the lure of processing transactions directly may nudge other acquirers to seek special bank charters, too.\u00a0
\nAs PYMNTS reported, in an exclusive, last week,\u00a0Stripe\u2019s application for a Merchant Acquirer Limited Purpose Bank (MALPB) charter has been accepted by the state of Georgia\u2019s Department of Banking and Finance, opening the door to obtain direct membership in the U.S. with Visa and Mastercard and to process payments without a sponsoring bank (known as a BIN sponsor).\u00a0
\nThat last point \u2014 the ability to process payments directly \u2014 allows the acquirer to have a more significant financial stake in processing debit and credit card transactions for merchants, as it saves money on the bank fees that would be paid to banking partners.\u00a0 Stripe had noted to PYMNTS \u00a0that it would not look to displace banking relationships it has already forged.\u00a0\u00a0
\nAnd it\u2019s important to note that the MALPB is limited; should Stripe be granted approval by Georgia\u2019s regulators, the license does not allow the payments processor to take deposits or branch out into other traditional banking activities. Georgia is the lone state that grants the MALPB.\u00a0\u00a0 \u00a0
\nIn further illumination of the strategy behind the applications, during the company\u2019s fourth quarter 2023 earnings call held at the beginning of 2024, Fiserv CEO Frank Bisignano said, \u201cThere are clearly lots of questions about why Fiserv is applying for a bank license. \u2026 It\u2019s a very specific purpose license that allows for sponsorship of merchant acquiring. Historically, you needed a bank that\u2019s within the Visa and Mastercard rules.\u201d\u00a0
\nHe added, \u201cOur ability to be able to have an institution for that sole purpose that will allow us, to be a sponsor for our own merchant acquiring in certain instances, will be valuable as we can control more of the outcome than we could before. It\u2019s a very specific purpose, very clear to our banks. We\u2019re not competing with them.\u201d
\nStripe\u2019s efforts would be a way to expand the roster of banking relationships. Application materials on the Georgia Department\u2019s website indicate that a decision will be rendered \u201cwithin 60 days\u201d from the time of application, which suggests some time in late May or in June.\u00a0 \u00a0
\nMuch hinges on how and when the merchant acquirer can be granted membership into the payment networks such as Visa and Mastercard, which in turn means the acquirers can process, clear and settle those card transactions directly. Fiserv\u2019s latest 10-K reveals that, in its income statement, the cost in 2023 (the latest full year reported) of processing and services stood at $5.4 billion, or 32% of its $15.6 billion in transaction-processing related revenues.\u00a0
\nThe documentation that accompanies the Georgia Department of Banking and Finance\u2019s application process and guidelines\u00a0indicates that \u201crisk capital\u201d must be maintained, which per the language of the guidelines indicates that \u201cthe minimum risk capital requirement directly accounts for the MALPB\u2019s actual chargeback experience and is designed to ensure maintenance of adequate capital to absorb loss at least to the level expected by a MALPB in relationship to its credit and fraud risk profile. A forward-looking element is incorporated into the minimum risk capital requirement\u201d that is tied to payment volumes.
\n\n
The post Will Fiserv and Stripe Pave Path for More Special Bank Charters? appeared first on PYMNTS.com.
\n", "content_text": "Stripe\u2019s the latest acquirer seeking a special banking charter. Fiserv made the move before Stripe, last year.\u00a0 \nIn the current landscape where payments processors want to maximize operations by minimizing costs, while expanding their business models, the lure of processing transactions directly may nudge other acquirers to seek special bank charters, too.\u00a0 \nAs PYMNTS reported, in an exclusive, last week,\u00a0Stripe\u2019s application for a Merchant Acquirer Limited Purpose Bank (MALPB) charter has been accepted by the state of Georgia\u2019s Department of Banking and Finance, opening the door to obtain direct membership in the U.S. with Visa and Mastercard and to process payments without a sponsoring bank (known as a BIN sponsor).\u00a0 \nEconomics and the Expansion\nThat last point \u2014 the ability to process payments directly \u2014 allows the acquirer to have a more significant financial stake in processing debit and credit card transactions for merchants, as it saves money on the bank fees that would be paid to banking partners.\u00a0 Stripe had noted to PYMNTS \u00a0that it would not look to displace banking relationships it has already forged.\u00a0\u00a0 \nAnd it\u2019s important to note that the MALPB is limited; should Stripe be granted approval by Georgia\u2019s regulators, the license does not allow the payments processor to take deposits or branch out into other traditional banking activities. Georgia is the lone state that grants the MALPB.\u00a0\u00a0 \u00a0\nIn further illumination of the strategy behind the applications, during the company\u2019s fourth quarter 2023 earnings call held at the beginning of 2024, Fiserv CEO Frank Bisignano said, \u201cThere are clearly lots of questions about why Fiserv is applying for a bank license. \u2026 It\u2019s a very specific purpose license that allows for sponsorship of merchant acquiring. Historically, you needed a bank that\u2019s within the Visa and Mastercard rules.\u201d\u00a0 \nHe added, \u201cOur ability to be able to have an institution for that sole purpose that will allow us, to be a sponsor for our own merchant acquiring in certain instances, will be valuable as we can control more of the outcome than we could before. It\u2019s a very specific purpose, very clear to our banks. We\u2019re not competing with them.\u201d\nStripe\u2019s efforts would be a way to expand the roster of banking relationships. Application materials on the Georgia Department\u2019s website indicate that a decision will be rendered \u201cwithin 60 days\u201d from the time of application, which suggests some time in late May or in June.\u00a0 \u00a0\nMuch hinges on how and when the merchant acquirer can be granted membership into the payment networks such as Visa and Mastercard, which in turn means the acquirers can process, clear and settle those card transactions directly. Fiserv\u2019s latest 10-K reveals that, in its income statement, the cost in 2023 (the latest full year reported) of processing and services stood at $5.4 billion, or 32% of its $15.6 billion in transaction-processing related revenues.\u00a0 \nThe documentation that accompanies the Georgia Department of Banking and Finance\u2019s application process and guidelines\u00a0indicates that \u201crisk capital\u201d must be maintained, which per the language of the guidelines indicates that \u201cthe minimum risk capital requirement directly accounts for the MALPB\u2019s actual chargeback experience and is designed to ensure maintenance of adequate capital to absorb loss at least to the level expected by a MALPB in relationship to its credit and fraud risk profile. A forward-looking element is incorporated into the minimum risk capital requirement\u201d that is tied to payment volumes. \n \nThe post Will Fiserv and Stripe Pave Path for More Special Bank Charters? appeared first on PYMNTS.com.", "date_published": "2025-04-08T17:40:53-04:00", "date_modified": "2025-04-08T17:40:53-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2025/04/fiserv-and-stripe.jpg", "tags": [ "banking charters", "Fiserv", "Frank Bisignano", "MALPB", "Merchant Acquirer Limited Purpose Bank", "merchant acquirers", "News", "Payments Innovations", "payments processors", "PYMNTS News", "Stripe", "Payments Innovation" ] }, { "id": "https://www.pymnts.com/?p=2541418", "url": "https://www.pymnts.com/news/payments-innovation/2025/plaid-bank-account-connectivity-underpins-data-revolution-in-financial-services/", "title": "Plaid: Bank Account Connectivity Underpins \u2018Data Revolution\u2019 in Financial Services", "content_html": "For Plaid, the connectivity \u2014 tying bank accounts to a broad range of providers across financial systems \u2014\u00a0lays the groundwork for double-digit growth.
\nAnd while the news Thursday (April 3) may have centered on a $575 million capital raise (and a $6.1 billion valuation) and the fact that the firm will reportedly not go public this year, management\u2019s shareholder letter details the movement beyond its foundational account linking activities to provide an on-ramp to an expanding ecosystem of data-driven digital, personalized services and\u00a0 products.
\nThe letter, penned by CEO Zach Perret, is largely qualitative in nature. And it should be noted that, because Plaid is not (and will not be) publicly traded, financial data is incomplete at best \u2014 though the trends are up and to the right, as the firm\u2019s data network has underpinned growth in efforts to diversify revenue, through newer business lines such as alternative credit data, anti-fraud offerings and bank payments.
\nOn that last front \u2014 pay-by-bank offerings \u2014 PYMNTS Intelligence has (in collaboration with Trustly) found that in the United States, 6.4% of consumers said they are already using pay by bank and 40% are at least somewhat interested in using the payment option. Interestingly, consumers earning $100,000 or more are among the most inclined to embrace pay by bank, as 42% saying they are intrigued or interested. We found that higher income consumers are among the earliest of adopters, as 9.4% are already paying by bank.
\nIn an interview last year with Karen Webster, Brian Dammeir, head of payments for Plaid, said that \u201cthe user experience is what\u2019s really changing,\u201d particularly in the use case of paying bills. Traditional online bill pay requires users to recall or locate their account information, he said, a process prone to errors. With pay by bank, that friction is eliminated. Consumers can digitally authenticate their account information, making payments through a streamlined, biometric-driven interface.
\n\u201cIt\u2019s about modernizing bank-based payments and putting them on par with other methods in terms of user experience,\u201d he said.
\nThe connectivity to broaden that usage is certainly in place, as Plaid has estimated in its letter Thursday that 1 in every 2 U.S. individuals have used Plaid. \u201cWe have a substantial and unique data asset. And our core business has consistently grown double digits year over year despite 2022 and 2023 being the worst slowdown in FinTech in the last two decades,\u201d the CEO said in the letter.\u00a0
\nAnd drilling down a bit, new products stood at a greater than 20% contribution to annual recurring revenues, a segment that has been compounding at 93% annually.\u00a0 Furthermore, Plaid has successfully broadened its client base to include major enterprise players such as Citi, H&R Block, Invitation Homes, and Rocket, as noted in Perret\u2019s letter.
\nLooking ahead, Perret\u2019s letter strategically positions Plaid as a crucial infrastructure provider for finance. The company emphasizes its role in accelerating the \u201cdata revolution\u201d within financial services, with the aim of empowering all participants to leverage data for enhanced customer acquisition, product personalization, risk management, and underwriting.
\nThe company\u2019s strategic priorities for 2025, as outlined by Perret, include accelerated investment in its new business lines and a greater emphasis on data science, machine learning, and AI to further enhance its data analytics capabilities across its solutions.
\nThere\u2019s a tantalizing line in the letter that hints at other growth metrics: \u201cIn 2024, we ended the year with [redacted for confidentiality].\u201d
\nElsewhere, according to the narrative offered by Perret, \u201cRetail financial services is at a pivotal moment,\u201d as \u201ca small handful of industry giants have emerged with a vast technological and data advantage that they are using to accumulate market share by using data to intelligently target customers more effectively [and] cross-sell products. \u2026 The companies that will grow fastest in the next decade will be those who can best use data to their and their end users\u2019 advantage.\u201d\u00a0\u00a0
\nFor Plaid itself, \u201cWhat started as an \u2018API for your bank account\u2019 quickly emerged as a critical component of thousands of new financial products built by FinTechs, banks, and enterprises alike,\u201d Perret wrote, marked by 12,000 providers.
\n\u201cThe intelligent use of data will transform how financial services companies acquire customers, personalize products, manage risk, optimize underwriting, and more,\u201d he added.
\nThe post Plaid: Bank Account Connectivity Underpins \u2018Data Revolution\u2019 in Financial Services appeared first on PYMNTS.com.
\n", "content_text": "For Plaid, the connectivity \u2014 tying bank accounts to a broad range of providers across financial systems \u2014\u00a0lays the groundwork for double-digit growth.\nAnd while the news Thursday (April 3) may have centered on a $575 million capital raise (and a $6.1 billion valuation) and the fact that the firm will reportedly not go public this year, management\u2019s shareholder letter details the movement beyond its foundational account linking activities to provide an on-ramp to an expanding ecosystem of data-driven digital, personalized services and\u00a0 products.\nMomentum From New Businesses\nThe letter, penned by CEO Zach Perret, is largely qualitative in nature. And it should be noted that, because Plaid is not (and will not be) publicly traded, financial data is incomplete at best \u2014 though the trends are up and to the right, as the firm\u2019s data network has underpinned growth in efforts to diversify revenue, through newer business lines such as alternative credit data, anti-fraud offerings and bank payments.\nOn that last front \u2014 pay-by-bank offerings \u2014 PYMNTS Intelligence has (in collaboration with Trustly) found that in the United States, 6.4% of consumers said they are already using pay by bank and 40% are at least somewhat interested in using the payment option. Interestingly, consumers earning $100,000 or more are among the most inclined to embrace pay by bank, as 42% saying they are intrigued or interested. We found that higher income consumers are among the earliest of adopters, as 9.4% are already paying by bank.\nIn an interview last year with Karen Webster, Brian Dammeir, head of payments for Plaid, said that \u201cthe user experience is what\u2019s really changing,\u201d particularly in the use case of paying bills. Traditional online bill pay requires users to recall or locate their account information, he said, a process prone to errors. With pay by bank, that friction is eliminated. Consumers can digitally authenticate their account information, making payments through a streamlined, biometric-driven interface.\n\u201cIt\u2019s about modernizing bank-based payments and putting them on par with other methods in terms of user experience,\u201d he said.\nThe connectivity to broaden that usage is certainly in place, as Plaid has estimated in its letter Thursday that 1 in every 2 U.S. individuals have used Plaid. \u201cWe have a substantial and unique data asset. And our core business has consistently grown double digits year over year despite 2022 and 2023 being the worst slowdown in FinTech in the last two decades,\u201d the CEO said in the letter.\u00a0 \nAnd drilling down a bit, new products stood at a greater than 20% contribution to annual recurring revenues, a segment that has been compounding at 93% annually.\u00a0 Furthermore, Plaid has successfully broadened its client base to include major enterprise players such as Citi, H&R Block, Invitation Homes, and Rocket, as noted in Perret\u2019s letter.\nLonger-Term Strategy\nLooking ahead, Perret\u2019s letter strategically positions Plaid as a crucial infrastructure provider for finance. The company emphasizes its role in accelerating the \u201cdata revolution\u201d within financial services, with the aim of empowering all participants to leverage data for enhanced customer acquisition, product personalization, risk management, and underwriting. \nThe company\u2019s strategic priorities for 2025, as outlined by Perret, include accelerated investment in its new business lines and a greater emphasis on data science, machine learning, and AI to further enhance its data analytics capabilities across its solutions.\nThere\u2019s a tantalizing line in the letter that hints at other growth metrics: \u201cIn 2024, we ended the year with [redacted for confidentiality].\u201d\nElsewhere, according to the narrative offered by Perret, \u201cRetail financial services is at a pivotal moment,\u201d as \u201ca small handful of industry giants have emerged with a vast technological and data advantage that they are using to accumulate market share by using data to intelligently target customers more effectively [and] cross-sell products. \u2026 The companies that will grow fastest in the next decade will be those who can best use data to their and their end users\u2019 advantage.\u201d\u00a0\u00a0 \nFor Plaid itself, \u201cWhat started as an \u2018API for your bank account\u2019 quickly emerged as a critical component of thousands of new financial products built by FinTechs, banks, and enterprises alike,\u201d Perret wrote, marked by 12,000 providers.\n\u201cThe intelligent use of data will transform how financial services companies acquire customers, personalize products, manage risk, optimize underwriting, and more,\u201d he added.\nThe post Plaid: Bank Account Connectivity Underpins \u2018Data Revolution\u2019 in Financial Services appeared first on PYMNTS.com.", "date_published": "2025-04-03T16:18:29-04:00", "date_modified": "2025-04-03T16:18:29-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2025/04/Plaid-1.jpg", "tags": [ "Brian Dammeir", "Connected Economy", "data analysis", "Digital Payments", "digital transformation", "financial data", "News", "Pay By Bank", "Payments Innovation", "Plaid", "PYMNTS News", "Zach Perret" ] }, { "id": "https://www.pymnts.com/?p=2540677", "url": "https://www.pymnts.com/news/payments-innovation/2025/visa-to-launch-new-unified-checkout-and-fraud-detection-solutions/", "title": "Visa to Launch New Unified Checkout and Fraud Detection Solutions", "content_html": "Visa has unveiled three new value-added services designed to make accepting payments easier and more secure.
\nThe services are meant for acquirers, payment facilitators, retailers, marketplaces and shops, the company said in a Thursday (April 3) press release emailed to PYMNTS.
\nWith Authorize.net 2.0, Visa has reimagined its Authorize.net by adding a streamlined user interface, artificial intelligence (AI) capabilities, improved dashboards for management, and support for in-person card readers and tap to phone, according to the release. This enhanced service will be available in the U.S. in the second quarter and in additional countries in 2026.
\nUnified Checkout is a new experience that can be launched in a few hours and will orchestrate more than 25 card and alternative payment options, enabling merchants to accept more payment types and boost their eCommerce conversion rates with an intuitive checkout experience, the release said. It will be available in the U.S. and in pilot state in additional markets in the third quarter.
\nThe ARIC Risk Hub uses adaptive AI to help protect acquirers and their merchants against fraud and financial crime by helping to identify risky transactions and build profiles around genuine customer activity, per the release. This service is available globally as of Thursday.
\n\u201cLeveraging new technology to accept payments more efficiently and securely can be what sets a business apart in today\u2019s rapidly digitalizing world,\u201d Antony Cahill, president of value-added services at Visa, said in the release. \u201cWith our new services, we\u2019re helping businesses harness data-driven insights, simplify the checkout experience and fight fraud more effectively than ever.\u201d
\nVisa\u2019s Value-Added Services include risk and security solutions, advisory and other services, issuing solutions and acceptance solutions, the company said in February.
\nTogether, these offerings earned $8.8 billion in revenue for Visa in 2024, and the company sees them as a $520 billion potential annual revenue opportunity, it said in a presentation released in conjunction with its Visa Investor Day 2025.
\n\u201cWhat we\u2019ve essentially done is we\u2019ve built a Visa payment stack, built on top of VisaNet and our network of networks, and on top of that, what we explain to investors is, we built Visa-as-a-Service,\u201d Visa CEO Ryan McInerney told CNBC at the time in an interview.
\nThe post Visa to Launch New Unified Checkout and Fraud Detection Solutions appeared first on PYMNTS.com.
\n", "content_text": "Visa has unveiled three new value-added services designed to make accepting payments easier and more secure.\nThe services are meant for acquirers, payment facilitators, retailers, marketplaces and shops, the company said in a Thursday (April 3) press release emailed to PYMNTS.\nWith Authorize.net 2.0, Visa has reimagined its Authorize.net by adding a streamlined user interface, artificial intelligence (AI) capabilities, improved dashboards for management, and support for in-person card readers and tap to phone, according to the release. This enhanced service will be available in the U.S. in the second quarter and in additional countries in 2026.\nUnified Checkout is a new experience that can be launched in a few hours and will orchestrate more than 25 card and alternative payment options, enabling merchants to accept more payment types and boost their eCommerce conversion rates with an intuitive checkout experience, the release said. It will be available in the U.S. and in pilot state in additional markets in the third quarter.\nThe ARIC Risk Hub uses adaptive AI to help protect acquirers and their merchants against fraud and financial crime by helping to identify risky transactions and build profiles around genuine customer activity, per the release. This service is available globally as of Thursday.\n\u201cLeveraging new technology to accept payments more efficiently and securely can be what sets a business apart in today\u2019s rapidly digitalizing world,\u201d Antony Cahill, president of value-added services at Visa, said in the release. \u201cWith our new services, we\u2019re helping businesses harness data-driven insights, simplify the checkout experience and fight fraud more effectively than ever.\u201d\nVisa\u2019s Value-Added Services include risk and security solutions, advisory and other services, issuing solutions and acceptance solutions, the company said in February.\nTogether, these offerings earned $8.8 billion in revenue for Visa in 2024, and the company sees them as a $520 billion potential annual revenue opportunity, it said in a presentation released in conjunction with its Visa Investor Day 2025.\n\u201cWhat we\u2019ve essentially done is we\u2019ve built a Visa payment stack, built on top of VisaNet and our network of networks, and on top of that, what we explain to investors is, we built Visa-as-a-Service,\u201d Visa CEO Ryan McInerney told CNBC at the time in an interview.\nThe post Visa to Launch New Unified Checkout and Fraud Detection Solutions appeared first on PYMNTS.com.", "date_published": "2025-04-03T09:00:49-04:00", "date_modified": "2025-04-02T16:18:41-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2025/04/Visa-Unified-Checkout.png", "tags": [ "checkout", "credit cards", "ecommerce", "fraud detection", "Fraud Prevention", "News", "Payments Acceptance", "PYMNTS News", "Technology", "Unified Checkout", "Visa", "What's Hot", "Payments Innovation" ] }, { "id": "https://www.pymnts.com/?p=2540526", "url": "https://www.pymnts.com/news/payments-innovation/2025/apis-innovation-help-merchants-put-payments-background/", "title": "APIs and Innovation Help Merchants Put Payments \u2018in the Background\u2019", "content_html": "For merchants, omnichannel innovation comes in several flavors.
\nWhen it comes to eCommerce interactions, sellers face the drive to streamline and reduce friction during the onboarding processes \u2014 and to digitize the interactions that happen after onboarding, including lending and payments.
\nIn an interview with PYMNTS, Jordan Owen, head of merchant business banking at U.S. Bank\u2019s wholly owned subsidiary Elavon, said broadening payments acceptance across credit and debit cards \u2014 and enabling firms to integrate digital wallets \u2014 levels the playing field between larger enterprises and small- to medium-sized businesses (SMBs).
\nThrough the partnership model, providers including Elavon, use developer-first APIs to help those firms \u2014 large or small \u2014 integrate new solutions on an as-needed basis. That bespoke approach underpins multinational retailers\u2019 efforts to sell in dozens of countries and currencies, tapping a variety of markets, or an SMB\u2019s single-market, dollar-denominated home base, Owen said.
\n\u201cWhat it all comes down to is making sure that these merchants have the optimal setup to have payments work in the background \u2014 so that they can in turn go and run their businesses,\u201d she said.
\nElavon is one of only two payment processors that are wholly owned by a bank, which means that commercial clients accessing the full suite of services (combining U.S. Bank and Elavon\u2019s offerings) can access funds the same day and/or embed point-of-sale lending that translates into reaching a broader market of customers that may not have been accessible otherwise.
\nThe combination is the culmination of U.S. Bank\u2019s efforts to combine financial services and payments under one roof, after acquiring Elavon\u2019s predecessor, Nova Information Services.
\n\u201cWe service everyone from major enterprise clients in the airline space all the way down to startup businesses,\u201d Owen said.
\nThat range of expertise is especially relevant given the movement of FinTechs and private equity-backed firms that have sought to extend banking solutions as part of their payment offerings.
\n\u201cThe point-of-sale lending solution is no-code or low-code and fully headless APIs \u2026 and that\u2019s the kind of innovation we\u2019re excited about,\u201d she said.
\nThe company has focused on several verticals that are being transformed by simplified payments and better communications.
\nThrough its partnership with Rectangle Health, for example, Elavon enables clients to send reminders about appointments. Payment needs to be collected at the time of the visit, which improves the cash flow of providers. The company\u2019s Practice Management Bridge integrates with a practice\u2019s electronic medical records systems so that providers can track, manage, report and reconcile patient payment information.
\nIn retail, setting SMBs up with real-time financing options can build consumer relationships as customers can buy large-ticket items as needed.
\n\u201cThe SMB\u2019s key preference is to make things as simple as possible because they don\u2019t have the people or processes to manage a number of complex and different relationships and systems,\u201d Owen said.
\nTo that end, Elavon can set up payment options through a pre-set checkout page or tailor the page to the merchants\u2019 own preferences and markets, she said.
\n\u201cOur goal is to be the payments expert,\u201d Owen said, adding that the partnership approach \u201cenables merchants to build stronger relationships with their customers \u2014 and giving them time back.\u201d
\nThe post APIs and Innovation Help Merchants Put Payments \u2018in the Background\u2019 appeared first on PYMNTS.com.
\n", "content_text": "For merchants, omnichannel innovation comes in several flavors.\nWhen it comes to eCommerce interactions, sellers face the drive to streamline and reduce friction during the onboarding processes \u2014 and to digitize the interactions that happen after onboarding, including lending and payments.\nIn an interview with PYMNTS, Jordan Owen, head of merchant business banking at U.S. Bank\u2019s wholly owned subsidiary Elavon, said broadening payments acceptance across credit and debit cards \u2014 and enabling firms to integrate digital wallets \u2014 levels the playing field between larger enterprises and small- to medium-sized businesses (SMBs).\nThrough the partnership model, providers including Elavon, use developer-first APIs to help those firms \u2014 large or small \u2014 integrate new solutions on an as-needed basis. That bespoke approach underpins multinational retailers\u2019 efforts to sell in dozens of countries and currencies, tapping a variety of markets, or an SMB\u2019s single-market, dollar-denominated home base, Owen said.\n\u201cWhat it all comes down to is making sure that these merchants have the optimal setup to have payments work in the background \u2014 so that they can in turn go and run their businesses,\u201d she said.\nElavon is one of only two payment processors that are wholly owned by a bank, which means that commercial clients accessing the full suite of services (combining U.S. Bank and Elavon\u2019s offerings) can access funds the same day and/or embed point-of-sale lending that translates into reaching a broader market of customers that may not have been accessible otherwise.\nThe combination is the culmination of U.S. Bank\u2019s efforts to combine financial services and payments under one roof, after acquiring Elavon\u2019s predecessor, Nova Information Services.\nAcross the Range of Businesses\n\u201cWe service everyone from major enterprise clients in the airline space all the way down to startup businesses,\u201d Owen said.\nThat range of expertise is especially relevant given the movement of FinTechs and private equity-backed firms that have sought to extend banking solutions as part of their payment offerings.\n\u201cThe point-of-sale lending solution is no-code or low-code and fully headless APIs \u2026 and that\u2019s the kind of innovation we\u2019re excited about,\u201d she said.\nThe company has focused on several verticals that are being transformed by simplified payments and better communications.\nThrough its partnership with Rectangle Health, for example, Elavon enables clients to send reminders about appointments. Payment needs to be collected at the time of the visit, which improves the cash flow of providers. The company\u2019s Practice Management Bridge integrates with a practice\u2019s electronic medical records systems so that providers can track, manage, report and reconcile patient payment information.\nIn retail, setting SMBs up with real-time financing options can build consumer relationships as customers can buy large-ticket items as needed.\n\u201cThe SMB\u2019s key preference is to make things as simple as possible because they don\u2019t have the people or processes to manage a number of complex and different relationships and systems,\u201d Owen said.\nTo that end, Elavon can set up payment options through a pre-set checkout page or tailor the page to the merchants\u2019 own preferences and markets, she said.\n\u201cOur goal is to be the payments expert,\u201d Owen said, adding that the partnership approach \u201cenables merchants to build stronger relationships with their customers \u2014 and giving them time back.\u201d\nThe post APIs and Innovation Help Merchants Put Payments \u2018in the Background\u2019 appeared first on PYMNTS.com.", "date_published": "2025-04-03T04:03:37-04:00", "date_modified": "2025-04-02T20:48:45-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2025/04/Elavon-owen-US-bank.jpg", "tags": [ "banking", "Banks", "credit", "debit", "digital wallets", "ecommerce", "elavon", "Featured News", "FinTech", "Healthcare", "Innovation", "Jordan Owen", "Lending", "loans", "News", "partnerships", "PYMNTS News", "pymnts tv", "Retail", "SMBs", "U.S. Bank", "video", "Payments Innovation" ] }, { "id": "https://www.pymnts.com/?p=2518906", "url": "https://www.pymnts.com/news/payments-innovation/2025/marketplaces-go-global-in-pursuit-of-20-trillion-payments-opportunity/", "title": "Marketplaces Go Global in Pursuit of $20 Trillion Payments Opportunity", "content_html": "Marketplaces have transformed the global economy, creating ecosystems where buyers and sellers converge in the digital universe. But as they evolve, so must the infrastructure that supports them.
\n\u201cMarketplaces are expanding beyond traditional eCommerce,\u201d David Maret, senior partnership and customer success manager\u00a0at Nuvei, told PYMNTS. \u201cWith that, payment expectations are evolving as well. There\u2019s a bigger demand for faster payouts, streamlined seller onboarding, and, above all, local or multicurrency support.\u201d
\nMarketplaces looking for a bigger piece of the pie by going global must navigate a labyrinth of regulatory requirements, fraud risks and cross-border payment complexities. In a world where consumer preferences vary significantly by region, marketplaces must cater to diverse payment demands.\u00a0
\nMaret said that Nuvei itself supports over 700 alternative payment methods (APMs), a number that continues to grow.
\nBusinesses today aren\u2019t just adding more payment methods \u2014 they\u2019re optimizing them. The right mix of APMs isn\u2019t just about offering choices; it\u2019s about maximizing acceptance, minimizing fraud, and ensuring compliance across jurisdictions, Maret said, adding that\u2019s why Nuvei focuses on enabling localized payment solutions that align with how customers prefer to pay in each region.
\nAgainst this global backdrop, payment security is no longer just about encryption and tokenization. Ensuring effective and secure payments requires solutions like advanced artificial intelligence (AI) fraud detection and regulatory compliance tailored to each jurisdiction.
\nAs regulatory environments shift, companies must navigate country-specific laws that can impact payment operations. Payment providers that offer built-in compliance can help marketplaces scale while reducing regulatory risks.
\n\u201cAt Nuvei, we take a compliance-first approach, ensuring that our solutions cover KYB [know your business] and KYC [know your customer] requirements, onboarding procedures, payout structures and regulatory risk management,\u201d Maret said.
\nAs more marketplaces expand globally, compliance challenges are intensifying \u2014 from adapting to country-specific regulations to managing fraud risks and payout structures. Without the right compliance, scaling across regions can become a major roadblock.
\n\u201cIn the past, you would buy a new bike from a Dutch seller through a Dutch marketplace,\u201d Maret said. \u201cNow, platforms like Buycycle allow a seller in Austria to ship to a customer in the Netherlands, effectively erasing borders [and significantly increasing marketplace inventory]\u201d
\nMarketplaces benefit from globalization in multiple ways. Increased supply leads to better pricing and wider selection, while regional price differences allow businesses to maximize margins. However, expanding internationally requires sophisticated payment solutions that can handle different currencies, tax structures and compliance regulations.
\n\u201cCompliance is a major challenge for many marketplaces,\u201d Maret said, adding that with businesses focusing primarily on sales and customer acquisition, regulatory requirements can often take a back seat.
\n\u201cOur acquisition of Payout in October, now rebranded as Nuvei for Platforms, has strengthened our ability to provide expert guidance on complex payment structures tailored for marketplace growth,\u201d he said.
\nDigital payments are set to reach an estimated $20 trillion globally this year, a staggering number that underscores the significance of innovation in the payments space. Offering APMs is just one piece of the puzzle for marketplaces. By implementing AI and data-driven strategies, marketplaces can streamline user experiences, reduce fraud and improve compliance. With 84% of eCommerce businesses placing AI as their top priority, its role in optimizing operations and securing transactions has never been more critical.
\n\u201cAI touches so many elements,\u201d Maret said. \u201cFrom better understanding reporting insights to optimizing user preferences and regulatory compliance, AI plays a crucial role in modern payment systems.\u201d
\nThe future of marketplaces is linked to the evolution of payment systems. Consumers demand seamless, flexible and secure transactions, and businesses must adapt to stay ahead.
\n\u201cMarketplaces that leverage the right payment solutions and innovations will be the ones that scale successfully, optimize conversions and capitalize on the $20 trillion digital payments opportunity ahead,\u201d Maret said.
\nThe post Marketplaces Go Global in Pursuit of $20 Trillion Payments Opportunity appeared first on PYMNTS.com.
\n", "content_text": "Marketplaces have transformed the global economy, creating ecosystems where buyers and sellers converge in the digital universe. But as they evolve, so must the infrastructure that supports them.\n\u201cMarketplaces are expanding beyond traditional eCommerce,\u201d David Maret, senior partnership and customer success manager\u00a0at Nuvei, told PYMNTS. \u201cWith that, payment expectations are evolving as well. There\u2019s a bigger demand for faster payouts, streamlined seller onboarding, and, above all, local or multicurrency support.\u201d\nMarketplaces looking for a bigger piece of the pie by going global must navigate a labyrinth of regulatory requirements, fraud risks and cross-border payment complexities. In a world where consumer preferences vary significantly by region, marketplaces must cater to diverse payment demands.\u00a0\nMaret said that Nuvei itself supports over 700 alternative payment methods (APMs), a number that continues to grow. \nBusinesses today aren\u2019t just adding more payment methods \u2014 they\u2019re optimizing them. The right mix of APMs isn\u2019t just about offering choices; it\u2019s about maximizing acceptance, minimizing fraud, and ensuring compliance across jurisdictions, Maret said, adding that\u2019s why Nuvei focuses on enabling localized payment solutions that align with how customers prefer to pay in each region.\nNavigating Complexity\nAgainst this global backdrop, payment security is no longer just about encryption and tokenization. Ensuring effective and secure payments requires solutions like advanced artificial intelligence (AI) fraud detection and regulatory compliance tailored to each jurisdiction.\nAs regulatory environments shift, companies must navigate country-specific laws that can impact payment operations. Payment providers that offer built-in compliance can help marketplaces scale while reducing regulatory risks.\n\u201cAt Nuvei, we take a compliance-first approach, ensuring that our solutions cover KYB [know your business] and KYC [know your customer] requirements, onboarding procedures, payout structures and regulatory risk management,\u201d Maret said. \nAs more marketplaces expand globally, compliance challenges are intensifying \u2014 from adapting to country-specific regulations to managing fraud risks and payout structures. Without the right compliance, scaling across regions can become a major roadblock.\n\u201cIn the past, you would buy a new bike from a Dutch seller through a Dutch marketplace,\u201d Maret said. \u201cNow, platforms like Buycycle allow a seller in Austria to ship to a customer in the Netherlands, effectively erasing borders [and significantly increasing marketplace inventory]\u201d\nMarketplaces benefit from globalization in multiple ways. Increased supply leads to better pricing and wider selection, while regional price differences allow businesses to maximize margins. However, expanding internationally requires sophisticated payment solutions that can handle different currencies, tax structures and compliance regulations.\n\u201cCompliance is a major challenge for many marketplaces,\u201d Maret said, adding that with businesses focusing primarily on sales and customer acquisition, regulatory requirements can often take a back seat.\n\u201cOur acquisition of Payout in October, now rebranded as Nuvei for Platforms, has strengthened our ability to provide expert guidance on complex payment structures tailored for marketplace growth,\u201d he said. \n$20 Trillion Opportunity\nDigital payments are set to reach an estimated $20 trillion globally this year, a staggering number that underscores the significance of innovation in the payments space. Offering APMs is just one piece of the puzzle for marketplaces. By implementing AI and data-driven strategies, marketplaces can streamline user experiences, reduce fraud and improve compliance. With 84% of eCommerce businesses placing AI as their top priority, its role in optimizing operations and securing transactions has never been more critical.\n\u201cAI touches so many elements,\u201d Maret said. \u201cFrom better understanding reporting insights to optimizing user preferences and regulatory compliance, AI plays a crucial role in modern payment systems.\u201d\nThe future of marketplaces is linked to the evolution of payment systems. Consumers demand seamless, flexible and secure transactions, and businesses must adapt to stay ahead.\n\u201cMarketplaces that leverage the right payment solutions and innovations will be the ones that scale successfully, optimize conversions and capitalize on the $20 trillion digital payments opportunity ahead,\u201d Maret said. \nThe post Marketplaces Go Global in Pursuit of $20 Trillion Payments Opportunity appeared first on PYMNTS.com.", "date_published": "2025-03-27T04:01:49-04:00", "date_modified": "2025-03-26T22:46:43-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2025/03/marketplaces-nuvei.jpg", "tags": [ "AI", "alternative payment methods", "artificial intelligence", "compliance", "cross-border payments", "David Maret", "ecommerce", "eCommerce marketplaces", "Featured News", "News", "Nuvei", "Nuvei for Platforms", "Payment Methods", "Payments Innovation", "PYMNTS News", "pymnts tv", "regulation", "video" ] }, { "id": "https://www.pymnts.com/?p=2516653", "url": "https://www.pymnts.com/news/payments-innovation/2025/how-pay-later-options-are-redefining-consumer-spending-an-expert-look-at-whats-next/", "title": "How Pay Later Options Are Redefining Consumer Spending \u2014 an Expert Look at What\u2019s Next", "content_html": "PYMNTS Intelligence\u2019s latest research finds that the U.S. market for buy now, pay later (BNPL) credit totals $175 billion. While that\u2019s a small slice of total consumer spending, it represents an 88-fold spike in BNPL in just six years.
\nGrowing consumer demand for fixed installment plans when they make a purchase is fueling hot competition among FinTechs and traditional banks, not just for consumer wallets but also for ties with merchants. The pay later ecosystem is rapidly evolving to change how Americans shop and merchants sell goods and services.
\nIn \u201cPay Later Revolution: Redefining the Credit Economy,\u201d a PYMNTS Intelligence special report, we survey the evolution of credit and unpack the business and revenue models driving the highly competitive and rapidly evolving consumer credit landscape. One key insight: Higher-income consumers increasingly use BNPL not out of necessity but out of the convenience it affords in managing personal cash flows.
\nDownload the report to learn more about the Pay Later industry.
\nThe post How Pay Later Options Are Redefining Consumer Spending \u2014 an Expert Look at What\u2019s Next appeared first on PYMNTS.com.
\n", "content_text": "PYMNTS Intelligence\u2019s latest research finds that the U.S. market for buy now, pay later (BNPL) credit totals $175 billion. While that\u2019s a small slice of total consumer spending, it represents an 88-fold spike in BNPL in just six years.\nGrowing consumer demand for fixed installment plans when they make a purchase is fueling hot competition among FinTechs and traditional banks, not just for consumer wallets but also for ties with merchants. The pay later ecosystem is rapidly evolving to change how Americans shop and merchants sell goods and services.\nIn \u201cPay Later Revolution: Redefining the Credit Economy,\u201d a PYMNTS Intelligence special report, we survey the evolution of credit and unpack the business and revenue models driving the highly competitive and rapidly evolving consumer credit landscape. One key insight: Higher-income consumers increasingly use BNPL not out of necessity but out of the convenience it affords in managing personal cash flows.\nInside \u201cPay Later Revolution: Redefining the Credit Economy\u201d:\n\nMore than 1 in 2, or 51.2%, of adult American consumers using BNPL do so out of financial necessity \u2014 slightly more than do so out of convenience (46.1%). BNPL is no longer the exclusive provenance of shoppers with crimped pocketbooks.\nConsumers using BNPL out of necessity are most likely age 25 to 34. Slightly more than 1 in 5, or 20.7%, in that group, taps the product to pay their basic bills.\nConvenience users of BNPL are most likely to be 65 or older and comprise 28% of all BNPL users of all ages. Interestingly, 61% of BNPL users who make at least $100,000 a year use the credit option for its convenience when managing their cash flow or maximizing their rewards.\nHybrid business models that shift some BNPL fees to consumers are gaining popularity. The BNPL industry began with merchants offering the service to consumers free of fees and interest as long as they paid on time. Now, the tide is shifting as merchants push back against those fees.\n\nDownload the report to learn more about the Pay Later industry.\nThe post How Pay Later Options Are Redefining Consumer Spending \u2014 an Expert Look at What\u2019s Next appeared first on PYMNTS.com.", "date_published": "2025-03-24T04:00:59-04:00", "date_modified": "2025-03-23T21:41:34-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2025/03/pay-later-revolution-redefining-the-credit-economy.jpg", "tags": [ "buy now pay later", "Main Feature", "News", "PYMNTS Data Lab", "PYMNTS Intelligence", "PYMNTS News", "PYMNTS Study", "Payments Innovation" ] }, { "id": "https://www.pymnts.com/?p=2512053", "url": "https://www.pymnts.com/news/payments-innovation/2025/bank-of-america-says-real-time-payments-connect-businesses-to-working-capital/", "title": "Bank of America Says Real-Time Payments Connect Businesses to Working Capital", "content_html": "The Clearing House\u2019s RTP network launched in 2017. The FedNow Service, the central bank\u2019s foray into real-time payments, debuted in the summer 2023. And yet real-time payments \u2014 while getting some serious global traction \u2014 still have a lot of runway left for consumers and businesses. Daniel Stanton, managing director and global head of Transactional FX at Bank of America, told PYMNTS in a recent interview that as banks move onto the real-time payment networks, bringing faster payments capabilities to corporate clients will be a long-term project.
\n\u201cIt\u2019s a journey that we\u2019re undertaking,\u201d he said, \u201cand not only from the standpoint of a financial institution but in the FinTech arena as well. It\u2019s a joint journey toward building out our capabilities and enhancing or even redesigning our infrastructures \u2026 to get out of the thought process of \u20189 to 5\u2019 and to operate on a 24/7 wavelength.\u201d
\nOver the long term, he said, real-time payments will become commonplace, reflecting the ways in which we exchange information \u2014 and the ever speedier ways in which we live.
\nFor enterprises working with Bank of America, said Stanton, the benefits of real-time payments lie in greater control over when their beneficiary is paid \u2014 and how they\u2019re paid, which in turn means that the sender can better manage their working capital.
\nAlong with the growth in pay-to-card and pay-by-bank use cases, Stanton was quick to note that \u201cRTP is not a solution looking for a problem,\u201d which is a mindset the bank seeks to bring to its clients, especially when they examine the ways and means that they are going to have to reconfigure their workflows and back-end processes, with artificial intelligence (AI) in the mix to provide additional lines of defense in anti-money laundering (AML) and transaction monitoring.
\n\u201cThe workflow,\u201d he said, \u201cis going to need to be modified not only to transact and to send information simultaneously, but also to receive and digest the information that is being provided in order to truly benefit from RTP\u2019s transparency and speed.\u201d
\nThere must also be the recognition that not all transactions need to be real time, he said, and partnering with a financial institution \u2014 such as Bank of America \u2014 can help firms determine the applicability of real-time payments for some use cases, but not others. Pay by bank, to name but one \u201ctype\u201d of real-time payment, can be embedded at the point of sale or within an eCommerce experience, said Stanton, and pay to card can improve B2C interactions such as with the gig economy.
\n\u201cFrom a cross-border standpoint,\u201d he said, payments \u201care inundated with friction. What we\u2019re seeing in the global economy is that the user experience is paramount, and the RTP paves the way for additional value.\u201d The same is true for cross-border commercial payments, where costs are streamlined and all parties know exactly where and when payments have been sent \u2014 and when they\u2019ll arrive and settle.
\nThat level of transparency fosters loyalty between buyers and suppliers and helps them navigate foreign exchange (FX) volatility, said Stanton. Bank of America, for its part, has integrated its FX solutions into the real-time payments value chain to help improve supply chain dynamics. Real-time payments are already transforming tech, media and telecom companies, remittance providers and eCommerce as they digitize payouts.
\n\u201cThere\u2019s a level of instant gratification,\u201d he said, that is desired by the bank\u2019s clients and their own end customers, \u201cand so we have to be there to meet that demand.\u201d
\nThe post Bank of America Says Real-Time Payments Connect Businesses to Working Capital appeared first on PYMNTS.com.
\n", "content_text": "The Clearing House\u2019s RTP network launched in 2017. The FedNow Service, the central bank\u2019s foray into real-time payments, debuted in the summer 2023. And yet real-time payments \u2014 while getting some serious global traction \u2014 still have a lot of runway left for consumers and businesses. Daniel Stanton, managing director and global head of Transactional FX at Bank of America, told PYMNTS in a recent interview that as banks move onto the real-time payment networks, bringing faster payments capabilities to corporate clients will be a long-term project.\n\u201cIt\u2019s a journey that we\u2019re undertaking,\u201d he said, \u201cand not only from the standpoint of a financial institution but in the FinTech arena as well. It\u2019s a joint journey toward building out our capabilities and enhancing or even redesigning our infrastructures \u2026 to get out of the thought process of \u20189 to 5\u2019 and to operate on a 24/7 wavelength.\u201d\nLooking at the Long Term \nOver the long term, he said, real-time payments will become commonplace, reflecting the ways in which we exchange information \u2014 and the ever speedier ways in which we live.\nFor enterprises working with Bank of America, said Stanton, the benefits of real-time payments lie in greater control over when their beneficiary is paid \u2014 and how they\u2019re paid, which in turn means that the sender can better manage their working capital.\nAlong with the growth in pay-to-card and pay-by-bank use cases, Stanton was quick to note that \u201cRTP is not a solution looking for a problem,\u201d which is a mindset the bank seeks to bring to its clients, especially when they examine the ways and means that they are going to have to reconfigure their workflows and back-end processes, with artificial intelligence (AI) in the mix to provide additional lines of defense in anti-money laundering (AML) and transaction monitoring.\n\u201cThe workflow,\u201d he said, \u201cis going to need to be modified not only to transact and to send information simultaneously, but also to receive and digest the information that is being provided in order to truly benefit from RTP\u2019s transparency and speed.\u201d\nChoosing Among the Use Cases \nThere must also be the recognition that not all transactions need to be real time, he said, and partnering with a financial institution \u2014 such as Bank of America \u2014 can help firms determine the applicability of real-time payments for some use cases, but not others. Pay by bank, to name but one \u201ctype\u201d of real-time payment, can be embedded at the point of sale or within an eCommerce experience, said Stanton, and pay to card can improve B2C interactions such as with the gig economy.\n\u201cFrom a cross-border standpoint,\u201d he said, payments \u201care inundated with friction. What we\u2019re seeing in the global economy is that the user experience is paramount, and the RTP paves the way for additional value.\u201d The same is true for cross-border commercial payments, where costs are streamlined and all parties know exactly where and when payments have been sent \u2014 and when they\u2019ll arrive and settle.\nThat level of transparency fosters loyalty between buyers and suppliers and helps them navigate foreign exchange (FX) volatility, said Stanton. Bank of America, for its part, has integrated its FX solutions into the real-time payments value chain to help improve supply chain dynamics. Real-time payments are already transforming tech, media and telecom companies, remittance providers and eCommerce as they digitize payouts.\n\u201cThere\u2019s a level of instant gratification,\u201d he said, that is desired by the bank\u2019s clients and their own end customers, \u201cand so we have to be there to meet that demand.\u201d\nThe post Bank of America Says Real-Time Payments Connect Businesses to Working Capital appeared first on PYMNTS.com.", "date_published": "2025-03-17T04:02:39-04:00", "date_modified": "2025-03-23T22:09:56-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2025/03/Bank-of-America.jpg", "tags": [ "B2B", "B2B Payments", "Bank of America", "banking", "Banks", "commercial payments", "cross-border payments", "Daniel Stanton", "Digital Payments", "digital transformation", "ecommerce", "Featured News", "FedNow Service", "News", "Pay By Bank", "PYMNTS News", "pymnts tv", "real time payments", "RTP", "TCH", "The Clearing House", "video", "working capital", "Payments Innovation" ] }, { "id": "https://www.pymnts.com/?p=2510093", "url": "https://www.pymnts.com/news/payments-innovation/2025/turning-digital-bill-presentment-into-the-next-consumer-touchpoint/", "title": "Turning Digital Bill Presentment Into the Next Consumer Touchpoint", "content_html": "Payments innovation often steals the spotlight from its less flashy cousin, payment advances.
\nBut beneath developments like artificial intelligence and real-time payments, bill presentment has quietly emerged as a critical component of financial institutions\u2019 and billers\u2019 strategies, playing an essential role in enhancing customer experience, streamlining operations and driving revenue growth.
\n\u201cWhen you look at what bill presentment can do, it really can help financial institutions, their clients and direct clients be able to collect faster,\u201d Norman Marraccini, senior vice president of products and services at FIS, told PYMNTS.
\nFor years, bill presentment was an afterthought \u2014 a static process where customers received a paper invoice or a simple PDF via email. However, as digital transformation has accelerated, so too has the expectation for interactive, real-time and personalized billing experiences.
\nThe dominance of biller-direct models is growing, as 75% of customers prefer to manage and pay their bills in a single location, Marraccini said.
\n\u201cMaking it very user-friendly and beneficial for clients and their customers is key,\u201d he said.
\nToday, bill presentment is a strategic touch point that can influence customer satisfaction, reduce churn and unlock new business models.
\nThe move toward integrated ecosystems that unify bill pay and biller-direct platforms has significant implications for businesses of all sizes, Marraccini said. Small business owners, for example, can manage invoices, pay bills and track payments all in one place.
\n\u201cIf you can imagine a bank morphing its retail platform to not only include biller-direct but also retail bill payments, you create an ecosystem where businesses can take real-time payments, validate billing accounts and optimize accounts receivable,\u201d he said.
\n\u201cThink about taking both [retail bill payments and biller-direct] and putting it into one place,\u201d he added. \u201cThe opportunities for banks and businesses to interact with customers in new ways increase dramatically.\u201d
\nBy offering a single access point for bill presentment and payment, financial institutions can increase \u201ceyeball time\u201d with customers \u2014 a term Marraccini used to describe the importance of maintaining engagement through digital platforms. More engagement can also mean more opportunities to upsell services and provide value-added insights based on customer behavior.
\nDigital bill presentment platforms also generate vast amounts of valuable data thanks to electronic invoice presentment and payment (EIPP), another innovation shaping the future of bill presentment. By digitizing invoicing and payment processes, EIPP is empowering chief financial officers with deeper financial insights and more efficient receivables management.
\n\u201cWhen invoicing and billing are boarded on a digital platform, the majority of business intelligence can be gleaned from customer data,\u201d Marraccini said. \u201cWith an EIPP system, you\u2019re blending invoicing, payments and payment history, allowing for greater visibility into customer trends and cash flow management.\u201d
\n\u201cData is king,\u201d he added. \u201cWith the data we provide back to our clients, institutions can view invoice history, payment trends and cash flow projections in real time \u2026 Think about how easy it becomes for businesses and their customers when everything \u2014 viewing invoices, making payments, tracking receivables \u2014 is available in one centralized portal.\u201d
\nAn advantage of digital bill presentment is its ability to reduce friction in the payment lifecycle.
\n\u201cYou\u2019re looking at an [accounts payable (AP)] department that handles multiple payment receivable systems today,\u201d Marraccini said. \u201cIf you can take steps away from that process through automation, it allows for a consolidated view of payments and reduces manual intervention.\u201d
\nFor businesses looking to implement advanced bill presentment solutions, however, integration with existing enterprise resource planning (ERP) systems can remain a key challenge.
\n\u201cOur goal at FIS is to focus on the major ERP systems that handle the majority of invoicing updates for payments and procurement,\u201d Marraccini said. \u201cWe tie into those systems via API, ensuring a seamless experience for our partners.\u201d
\nUltimately, the success of digital bill presentment hinges on customer experience. Today\u2019s consumers expect seamless, intuitive digital interactions, much like the frictionless experience of eCommerce platforms such as Amazon, he said.
\n\u201cPaying bills is boring, right?\u201d Marraccini said. \u201cBut what can I do to make it interactive for that client? How can I show them information they might not be looking at when they just receive a paper invoice?\u201d
\nFor FIS, the vision is clear, he said.
\n\u201cThe more opportunities we create for our clients to engage with their customers in a one-stop digital portal, the better positioned they will be to drive revenue, improve cash flow and deliver exceptional service,\u201d Marraccini said.
\nFor all PYMNTS B2B coverage, subscribe to the daily B2B Newsletter.
\nThe post Turning Digital Bill Presentment Into the Next Consumer Touchpoint appeared first on PYMNTS.com.
\n", "content_text": "Payments innovation often steals the spotlight from its less flashy cousin, payment advances.\nBut beneath developments like artificial intelligence and real-time payments, bill presentment has quietly emerged as a critical component of financial institutions\u2019 and billers\u2019 strategies, playing an essential role in enhancing customer experience, streamlining operations and driving revenue growth.\n\u201cWhen you look at what bill presentment can do, it really can help financial institutions, their clients and direct clients be able to collect faster,\u201d Norman Marraccini, senior vice president of products and services at FIS, told PYMNTS.\nFor years, bill presentment was an afterthought \u2014 a static process where customers received a paper invoice or a simple PDF via email. However, as digital transformation has accelerated, so too has the expectation for interactive, real-time and personalized billing experiences.\nThe dominance of biller-direct models is growing, as 75% of customers prefer to manage and pay their bills in a single location, Marraccini said.\n\u201cMaking it very user-friendly and beneficial for clients and their customers is key,\u201d he said.\nToday, bill presentment is a strategic touch point that can influence customer satisfaction, reduce churn and unlock new business models.\nBill Presentment\u2019s Hidden Key to Payments Innovation\nThe move toward integrated ecosystems that unify bill pay and biller-direct platforms has significant implications for businesses of all sizes, Marraccini said. Small business owners, for example, can manage invoices, pay bills and track payments all in one place.\n\u201cIf you can imagine a bank morphing its retail platform to not only include biller-direct but also retail bill payments, you create an ecosystem where businesses can take real-time payments, validate billing accounts and optimize accounts receivable,\u201d he said.\n\u201cThink about taking both [retail bill payments and biller-direct] and putting it into one place,\u201d he added. \u201cThe opportunities for banks and businesses to interact with customers in new ways increase dramatically.\u201d\nBy offering a single access point for bill presentment and payment, financial institutions can increase \u201ceyeball time\u201d with customers \u2014 a term Marraccini used to describe the importance of maintaining engagement through digital platforms. More engagement can also mean more opportunities to upsell services and provide value-added insights based on customer behavior.\nDigital bill presentment platforms also generate vast amounts of valuable data thanks to electronic invoice presentment and payment (EIPP), another innovation shaping the future of bill presentment. By digitizing invoicing and payment processes, EIPP is empowering chief financial officers with deeper financial insights and more efficient receivables management.\n\u201cWhen invoicing and billing are boarded on a digital platform, the majority of business intelligence can be gleaned from customer data,\u201d Marraccini said. \u201cWith an EIPP system, you\u2019re blending invoicing, payments and payment history, allowing for greater visibility into customer trends and cash flow management.\u201d\n\u201cData is king,\u201d he added. \u201cWith the data we provide back to our clients, institutions can view invoice history, payment trends and cash flow projections in real time \u2026 Think about how easy it becomes for businesses and their customers when everything \u2014 viewing invoices, making payments, tracking receivables \u2014 is available in one centralized portal.\u201d\nSolving the Integration Challenge\nAn advantage of digital bill presentment is its ability to reduce friction in the payment lifecycle.\n\u201cYou\u2019re looking at an [accounts payable (AP)] department that handles multiple payment receivable systems today,\u201d Marraccini said. \u201cIf you can take steps away from that process through automation, it allows for a consolidated view of payments and reduces manual intervention.\u201d\nFor businesses looking to implement advanced bill presentment solutions, however, integration with existing enterprise resource planning (ERP) systems can remain a key challenge.\n\u201cOur goal at FIS is to focus on the major ERP systems that handle the majority of invoicing updates for payments and procurement,\u201d Marraccini said. \u201cWe tie into those systems via API, ensuring a seamless experience for our partners.\u201d\nUltimately, the success of digital bill presentment hinges on customer experience. Today\u2019s consumers expect seamless, intuitive digital interactions, much like the frictionless experience of eCommerce platforms such as Amazon, he said.\n\u201cPaying bills is boring, right?\u201d Marraccini said. \u201cBut what can I do to make it interactive for that client? How can I show them information they might not be looking at when they just receive a paper invoice?\u201d\nFor FIS, the vision is clear, he said.\n\u201cThe more opportunities we create for our clients to engage with their customers in a one-stop digital portal, the better positioned they will be to drive revenue, improve cash flow and deliver exceptional service,\u201d Marraccini said.\nFor all PYMNTS B2B coverage, subscribe to the daily B2B Newsletter.\nThe post Turning Digital Bill Presentment Into the Next Consumer Touchpoint appeared first on PYMNTS.com.", "date_published": "2025-03-12T04:01:59-04:00", "date_modified": "2025-03-12T09:27:45-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2025/03/FIS-CONSUMER-ENGAGEMENT.jpg", "tags": [ "accounts payable", "accounts receivable", "automation", "B2B", "B2B Payments", "bill payments", "commercial payments", "Digital Payments", "digital transformation", "faster payments", "Featured News", "FIS", "Innovation", "instant payments", "invoice payments", "News", "Norman Marraccini", "PYMNTS News", "pymnts tv", "real time payments", "Technology", "video", "Payments Innovation" ] }, { "id": "https://www.pymnts.com/?p=2509448", "url": "https://www.pymnts.com/news/payments-innovation/2025/australia-and-brazils-shared-vision-for-the-future-of-checkout/", "title": "Australia and Brazil\u2019s Shared Vision for the Future of Checkout", "content_html": "As digital economies race to streamline the payment process, the checkout experience is at the forefront of change, with innovations around customer experience and security redefining how merchants and consumers engage with payment technologies.
\nMerchants, payment service providers (PSPs) and issuers must align their strategies to prioritize both security and user experience, and PYMNTS hears from Surin Fernando, senior vice president, customer solutions, Australasia at Mastercard, and Guida Sousa, senior vice president, product management at Mastercard, about why payments innovators should pay particular attention to Brazil and Australia.
\n\u201cBrazil is a very digital-savvy market, and merchants are acutely aware that frictionless experiences drive sales,\u201d Sousa said, noting that consumers demand immediacy, security and seamless experiences.
\nOne of the core innovations in Brazil\u2019s checkout transformation is network tokenization.
\n\u201cWe are replacing the traditional 16-digit card number with a token that is useless to fraudsters,\u201d Sousa added. \u201cThis ensures both security and ease of checkout, which aligns with global trends.\u201d
\nMoreover, Brazil is adopting biometric authentication.
\n\u201cMerchants are embracing technologies that offer both security and frictionless experiences,\u201d Sousa said. \u201cWe\u2019re seeing initiatives like payment passkeys gaining traction, and merchants are keen to implement them after witnessing their benefits.\u201d
\nStill, she added that many Brazilian merchants feel as they are unable to request technical features from their PSPs, which indicates a significant gap in communication. Despite this gap, over 50% of merchants proactively requested technical upgrades, signaling that larger retailers with deeper knowledge of the payments ecosystem are pushing for innovations.
\nMastercard is stepping in to bridge the gap between merchants and PSPs, ensuring that the demand for seamless checkout experiences is met with responsive solutions.
\nWhile it exists in a separate hemisphere, Australia mirrors Brazil in its push for digital payment advancements but faces its own unique challenges, particularly around security.
\nFernando said the country has one of the highest rates of contactless payments globally, with 99% of transactions being contactless and 70% happening on mobile devices. However, the online checkout experience remains inconsistent, creating friction for both consumers and merchants.
\n\u201cOur online experience is still broken in many ways,\u201d Fernando said. \u201cWe\u2019re seeing high demand for one-click checkout, but what really surprised me was the growing interest in biometric authentication. With only 1 in 10 transactions authenticated in Australia, we have a billion-dollar card fraud problem that needs urgent attention.\u201d
\nHe emphasized the role of PSPs in solving this issue.
\n\u201cWhile more than 52% of merchants didn\u2019t engage with their PSPs on technology requests, it\u2019s clear that those who did saw significant improvements in approval rates and fraud mitigation,\u201d he said. \u201cWe need to create a system where merchants feel empowered to ask for these capabilities.\u201d
\nOne of the major advancements in Australia is the integration of Click to Pay, a streamlined checkout experience that eliminates the need for manual entry and increases conversion rates.
\n\u201cWe\u2019ve been working with issuers to auto-enable customers into Click to Pay, which dramatically improves adoption,\u201d Fernando said. \u201cThis, combined with network tokenization and biometric authentication, forms the holy trinity of secure, seamless checkout.\u201d
\nBoth Sousa and Fernando agreed that PSPs play a crucial role in the adoption of new payment technologies, but they need better education on their value.
\n\u201cWe need to articulate the \u2018why\u2019 \u2014 why network tokenization reduces fraud, why Click to Pay increases conversion, and why biometric authentication is the future,\u201d said Fernando. \u201cOur vision is clear: 100% tokenized transactions, 100% authentication and the elimination of manual card entry by 2030.\u201d
\n\u201cThe industry has to come together to make this happen,\u201d Sousa said. \u201cJust as we collectively deployed contactless technology a few years ago, we must now rally around one-click checkout, tokenization and passkeys.\u201d
\nAs consumer expectations continue to evolve, merchants, PSPs and issuers must align their strategies to prioritize both security and user experience.\u00a0Ultimately, whether in Brazil, Australia or elsewhere, the future of checkout is fast, frictionless and fortified against fraud. And if Mastercard\u2019s latest initiatives are any indication, the payments industry is well on its way to achieving that future.
\nThe post Australia and Brazil\u2019s Shared Vision for the Future of Checkout appeared first on PYMNTS.com.
\n", "content_text": "As digital economies race to streamline the payment process, the checkout experience is at the forefront of change, with innovations around customer experience and security redefining how merchants and consumers engage with payment technologies.\nMerchants, payment service providers (PSPs) and issuers must align their strategies to prioritize both security and user experience, and PYMNTS hears from Surin Fernando, senior vice president, customer solutions, Australasia at Mastercard, and Guida Sousa, senior vice president, product management at Mastercard, about why payments innovators should pay particular attention to Brazil and Australia.\n\u201cBrazil is a very digital-savvy market, and merchants are acutely aware that frictionless experiences drive sales,\u201d Sousa said, noting that consumers demand immediacy, security and seamless experiences.\nOne of the core innovations in Brazil\u2019s checkout transformation is network tokenization.\n\u201cWe are replacing the traditional 16-digit card number with a token that is useless to fraudsters,\u201d Sousa added. \u201cThis ensures both security and ease of checkout, which aligns with global trends.\u201d\nMoreover, Brazil is adopting biometric authentication.\n\u201cMerchants are embracing technologies that offer both security and frictionless experiences,\u201d Sousa said. \u201cWe\u2019re seeing initiatives like payment passkeys gaining traction, and merchants are keen to implement them after witnessing their benefits.\u201d\nStill, she added that many Brazilian merchants feel as they are unable to request technical features from their PSPs, which indicates a significant gap in communication. Despite this gap, over 50% of merchants proactively requested technical upgrades, signaling that larger retailers with deeper knowledge of the payments ecosystem are pushing for innovations.\nMastercard is stepping in to bridge the gap between merchants and PSPs, ensuring that the demand for seamless checkout experiences is met with responsive solutions.\nThe Role of PSPs and Industry Collaboration\nWhile it exists in a separate hemisphere, Australia mirrors Brazil in its push for digital payment advancements but faces its own unique challenges, particularly around security.\nFernando said the country has one of the highest rates of contactless payments globally, with 99% of transactions being contactless and 70% happening on mobile devices. However, the online checkout experience remains inconsistent, creating friction for both consumers and merchants.\n\u201cOur online experience is still broken in many ways,\u201d Fernando said. \u201cWe\u2019re seeing high demand for one-click checkout, but what really surprised me was the growing interest in biometric authentication. With only 1 in 10 transactions authenticated in Australia, we have a billion-dollar card fraud problem that needs urgent attention.\u201d\nHe emphasized the role of PSPs in solving this issue.\n\u201cWhile more than 52% of merchants didn\u2019t engage with their PSPs on technology requests, it\u2019s clear that those who did saw significant improvements in approval rates and fraud mitigation,\u201d he said. \u201cWe need to create a system where merchants feel empowered to ask for these capabilities.\u201d\nOne of the major advancements in Australia is the integration of Click to Pay, a streamlined checkout experience that eliminates the need for manual entry and increases conversion rates.\n\u201cWe\u2019ve been working with issuers to auto-enable customers into Click to Pay, which dramatically improves adoption,\u201d Fernando said. \u201cThis, combined with network tokenization and biometric authentication, forms the holy trinity of secure, seamless checkout.\u201d\nLooking Ahead to the Future of Checkout Innovation\nBoth Sousa and Fernando agreed that PSPs play a crucial role in the adoption of new payment technologies, but they need better education on their value.\n\u201cWe need to articulate the \u2018why\u2019 \u2014 why network tokenization reduces fraud, why Click to Pay increases conversion, and why biometric authentication is the future,\u201d said Fernando. \u201cOur vision is clear: 100% tokenized transactions, 100% authentication and the elimination of manual card entry by 2030.\u201d\n\u201cThe industry has to come together to make this happen,\u201d Sousa said. \u201cJust as we collectively deployed contactless technology a few years ago, we must now rally around one-click checkout, tokenization and passkeys.\u201d\nAs consumer expectations continue to evolve, merchants, PSPs and issuers must align their strategies to prioritize both security and user experience.\u00a0Ultimately, whether in Brazil, Australia or elsewhere, the future of checkout is fast, frictionless and fortified against fraud. And if Mastercard\u2019s latest initiatives are any indication, the payments industry is well on its way to achieving that future.\nThe post Australia and Brazil\u2019s Shared Vision for the Future of Checkout appeared first on PYMNTS.com.", "date_published": "2025-03-11T04:01:35-04:00", "date_modified": "2025-03-10T21:53:56-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2025/03/Mastercard-brazil-australia.jpg", "tags": [ "Australia", "authentication", "Biometric Authentication", "brazil", "checkout", "Checkout Technology", "contactless payments", "credit cards", "Featured News", "Fraud Prevention", "Guida Sousa", "MasterCard", "Network Tokenization", "News", "online payments", "payment service providers", "PSPs", "PYMNTS News", "pymnts tv", "Security", "Surin Fernando", "Technology", "video", "Payments Innovation" ] }, { "id": "https://www.pymnts.com/?p=2505537", "url": "https://www.pymnts.com/news/payments-innovation/2025/how-embedded-fintech-is-becoming-b2bs-competitive-edge/", "title": "How Embedded FinTech Is Becoming B2B\u2019s Competitive Edge", "content_html": "The ability to embed payments across nonfinancial touchpoints and into existing systems is transforming business models across industries with new monetization opportunities.
\n\u201cThere has definitely been an uptick in B2B-type platforms that are looking to add additional services to their product offering,\u201d Justin Downey, vice president of product at\u00a0Maverick, told PYMNTS.
\nFrom eCommerce and retail to healthcare and education, he said, businesses are leveraging these technologies to enhance customer experiences, streamline operations and open new revenue streams.
\nFor many organizations, by integrating payment capabilities into core platforms, they are able to enhance data insights, improve customer experiences and boost platform stickiness.
\nDowney highlighted the importance of application programming interfaces (APIs) in driving the embedded FinTech trend, noting: \u201cThere\u2019s been a lot of development with third parties and ease of integration through APIs. Adding this payment piece to an existing offering just makes sense.\u201d
\nFor software developers and enterprise strategists, he said, understanding how to evaluate full stack FinTech providers is vital to making informed technology investments.
\nAs the world of payments continues to evolve, the importance of embedded FinTech and inclusive payment solutions will grow. With the right strategy, businesses can not only streamline their payment processes but also create new opportunities for growth and innovation.
\nEmbedded FinTech refers to the integration of financial services into nonfinancial platforms, allowing businesses to offer banking, payments, lending or insurance services directly within their existing ecosystems.
\nWhile the goal of embedded FinTech is to provide a seamless user experience, Downey stressed that achieving this simplicity often requires navigating complex back-end processes. One common pitfall, he said, is underestimating the challenges of security and regulatory compliance.
\n\u201cSecurity is going to be a big one, right? Because you\u2019re handling sensitive data,\u201d Downey said. \u201cWe\u2019ve seen an uptick in regulatory compliance \u2026 choosing the right partner to connect with and one that\u2019s really an expert on the payment experience can keep you updated with compliance.\u201d
\nFinTech solutions operate in a highly regulated space, and it\u2019s becoming increasingly crucial that embedded FinTech partners can manage compliance burdens, particularly those that meet rigorous standards like PCI compliance and SOC 2 audits. Such credentials ensure that sensitive card information is handled securely.
\nBeyond security, customization is a cornerstone of effective embedded FinTech solutions, while a scalable solution is equally important in allowing the system to grow alongside the business.
\n\u201cIf you\u2019re taking the time and spending the money to develop to a payment system, you want your core offering and the user experience to stay the same. It should flow, it should be seamless,\u201d Downey said, emphasizing the importance of ensuring any payment experience remains customizable, cohesive and branded.
\nFor Downey, the ultimate goal is clear: \u201cYou want to prevent the fraudsters, but you want the good payments to travel through, and you want the experience to look like it\u2019s all the same system.\u201d
\nLooking forward, Downey predicted further integration of artificial intelligence (AI) into embedded FinTech solutions.
\n\u201cWe talk a lot about AI \u2026 it\u2019s automating certain tasks,\u201d he said. \u201cFinding out where AI can support as far as error handling, for example, if we\u2019re doing an integration, an API connection from one system to communicate with another, how can AI be involved with that?\u201d
\nYet despite the buzz around embedded FinTech, Downey believes there is still a need for education in the market. He sees significant opportunities for collaboration between payment specialists and software providers to create mutually beneficial solutions.
\n\u201cBoth of these two parties can participate in the revenue. And I think it makes a lot of sense for them to connect together and really kind of enhance both of their offerings,\u201d he said.
\nAt Maverick, Downey\u2019s own focus is on building the back-end infrastructure that supports these innovations.
\n\u201cOur part is acting as a back-end operational system,\u201d he said. Whether businesses need white-label systems, platforms to resell payments or more integrated approaches, Maverick aims to provide the robust \u201crails\u201d that enable seamless, secure payment experiences.
\nThe post How Embedded FinTech Is Becoming B2B’s Competitive Edge appeared first on PYMNTS.com.
\n", "content_text": "The ability to embed payments across nonfinancial touchpoints and into existing systems is transforming business models across industries with new monetization opportunities. \n\u201cThere has definitely been an uptick in B2B-type platforms that are looking to add additional services to their product offering,\u201d Justin Downey, vice president of product at\u00a0Maverick, told PYMNTS. \nFrom eCommerce and retail to healthcare and education, he said, businesses are leveraging these technologies to enhance customer experiences, streamline operations and open new revenue streams.\nFor many organizations, by integrating payment capabilities into core platforms, they are able to enhance data insights, improve customer experiences and boost platform stickiness.\nDowney highlighted the importance of application programming interfaces (APIs) in driving the embedded FinTech trend, noting: \u201cThere\u2019s been a lot of development with third parties and ease of integration through APIs. Adding this payment piece to an existing offering just makes sense.\u201d\nFor software developers and enterprise strategists, he said, understanding how to evaluate full stack FinTech providers is vital to making informed technology investments.\nAs the world of payments continues to evolve, the importance of embedded FinTech and inclusive payment solutions will grow. With the right strategy, businesses can not only streamline their payment processes but also create new opportunities for growth and innovation.\nKey Components\nEmbedded FinTech refers to the integration of financial services into nonfinancial platforms, allowing businesses to offer banking, payments, lending or insurance services directly within their existing ecosystems. \nWhile the goal of embedded FinTech is to provide a seamless user experience, Downey stressed that achieving this simplicity often requires navigating complex back-end processes. One common pitfall, he said, is underestimating the challenges of security and regulatory compliance.\n\u201cSecurity is going to be a big one, right? Because you\u2019re handling sensitive data,\u201d Downey said. \u201cWe\u2019ve seen an uptick in regulatory compliance \u2026 choosing the right partner to connect with and one that\u2019s really an expert on the payment experience can keep you updated with compliance.\u201d\nFinTech solutions operate in a highly regulated space, and it\u2019s becoming increasingly crucial that embedded FinTech partners can manage compliance burdens, particularly those that meet rigorous standards like PCI compliance and SOC 2 audits. Such credentials ensure that sensitive card information is handled securely.\nBeyond security, customization is a cornerstone of effective embedded FinTech solutions, while a scalable solution is equally important in allowing the system to grow alongside the business.\n\u201cIf you\u2019re taking the time and spending the money to develop to a payment system, you want your core offering and the user experience to stay the same. It should flow, it should be seamless,\u201d Downey said, emphasizing the importance of ensuring any payment experience remains customizable, cohesive and branded.\nFor Downey, the ultimate goal is clear: \u201cYou want to prevent the fraudsters, but you want the good payments to travel through, and you want the experience to look like it\u2019s all the same system.\u201d\nFuture of Embedded FinTech\nLooking forward, Downey predicted further integration of artificial intelligence (AI) into embedded FinTech solutions. \n\u201cWe talk a lot about AI \u2026 it\u2019s automating certain tasks,\u201d he said. \u201cFinding out where AI can support as far as error handling, for example, if we\u2019re doing an integration, an API connection from one system to communicate with another, how can AI be involved with that?\u201d\nYet despite the buzz around embedded FinTech, Downey believes there is still a need for education in the market. He sees significant opportunities for collaboration between payment specialists and software providers to create mutually beneficial solutions. \n\u201cBoth of these two parties can participate in the revenue. And I think it makes a lot of sense for them to connect together and really kind of enhance both of their offerings,\u201d he said.\nAt Maverick, Downey\u2019s own focus is on building the back-end infrastructure that supports these innovations. \n\u201cOur part is acting as a back-end operational system,\u201d he said. Whether businesses need white-label systems, platforms to resell payments or more integrated approaches, Maverick aims to provide the robust \u201crails\u201d that enable seamless, secure payment experiences.\nThe post How Embedded FinTech Is Becoming B2B’s Competitive Edge appeared first on PYMNTS.com.", "date_published": "2025-03-04T04:00:52-05:00", "date_modified": "2025-03-06T21:45:28-05:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/f05cc0fdcc9e387e4f3570c17158c503?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2025/03/embedded-FinTech-with-overlay.jpg", "tags": [ "AI", "APIs", "artificial intelligence", "B2B", "B2B Payments", "back end", "commercial payments", "compliance", "embedded FinTech", "Featured News", "Justin Downey", "Maverick", "News", "Payments Innovation", "PYMNTS News", "pymnts tv", "Security", "video" ] } ] }