Payment Talks

AI and machine learning (ML) have been an important part of payments for some time but we're entering a growth phase for merchants. We ask Matthieu Barral, Head of Commercial UK, Checkout.com, if its cost reduction or efficiency that's driving this and what statistical impacts are merchants experiencing. Is AI overhyped and what other tech trends are driving new revenue opportunities? What could be a surprising twist in payments?

Consider the possibility of business owners accessing payment deals from the entire PSP market and applying online round-the-clock, 365 days a year. This is the visionary concept being developed by our guest, Sebastian Wood, Founder, and Director of AcceptPayments.com, through an innovative online comparison marketplace. How do such marketplaces transform the relationship between merchants and PSPs? Could this redefine how businesses seek out their PSPs? And what role will digitalizing onboarding and AI play in this transformative journey?

Embedded pre-processing of payments means greater transparency and also better liquidity management, a win-win for customers and global business. Rachel Hunt, Head of Strategy and Growth for Volante, the cloud-native Payments-as-a-Service (PaaS) provider, discusses the benefits and how banks can better manage their payments infrastructure. With cross-border, instant payments and domestic payment streams that have evolved over decades, it's often the case that the more complex the organisation the bigger the challenge.

Financial well-being products, budgeting and spending tools, accelerated wage access, tech is already helping solve some of the problems raised by the cost of living crisis. With many adults facing difficulties paying bills, Jeff Parker, SVP and MD of Marqeta, the modern card issuing platform, discusses the influence of culture and asks, is credit good? Data, AI and ML are already helping drive the accuracy of behaviours and we could see improved credit decisioning, whilst tokenised virtual cards could provide credit on the fly. One things for sure, tech remains creative in tough economic times.

Last year Endava was awarded Stripe's Partner of the Year for our work in the UK and Ireland. As global players, both Endava and Stripe are committed to working together to provide better payments experiences. Samantha Phillips, Stripe's Payments Performance Strategist, shares her insight on how cultural norms, innovation and regulation are shaping adoption of APMs and LPMs regionally. We even look ahead to 2050 for her long view on where we're all heading!

Cloud native payments-as-a-service platform Form3 is at the forefront of helping FIs seamlessly connect to the rails that enable RTP and Faster Payments. How soon will having access to money in seconds rather than days become standard? Will customers be happy to leave it to the experts? What about real-time fraud? Does everyone in the payments ecosystem need to chip in?

NatWest has been at the forefront of open banking, providing customers with alternative ways to pay since 2019 but what's the path to ubiquity? With new innovative payment journeys that provide speed, transparency and cost avoidance, what's the process to getting market traction when habits are so hard to change?