PCM MPE 2017 Special
This is a special issue created for the Merchant Payments Ecosystem event in Berlin 2017. This special issue focuses on various topic in the Payments & FinTech industry ranging from Loyalty to Emerging Markets and Risk & Fraud
This is a special issue created for the Merchant Payments Ecosystem event in Berlin 2017. This special issue focuses on various topic in the Payments & FinTech industry ranging from Loyalty to Emerging Markets and Risk & Fraud
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Thought Leaders Corner<br />
Digital transformation, increasingly dematerializing<br />
plastic cards offer several innovative ways for a powerful<br />
communication between customer and merchant. For<br />
example, Feedback, a service launched by Square in May 2014<br />
provides fresh way of looking at an old problem of letting<br />
customers offer comment on their shopping experience. It let<br />
businesses get and act upon feedback from customers through<br />
their digital receipts. If a business decides to use Feedback, a<br />
customer is prompted to answer the question “How was your<br />
experience?” with either a smiley or frowny face when they<br />
receive their receipt by text or email. Businesses are able to<br />
respond to customers on an individual basis. The feature is<br />
available to merchants for $15 a month. According to the Wall<br />
Street Journal, Square processed 10 million digital receipts per<br />
month in 2014, so the opportunity to facilitate the building of<br />
those relationships is substantial.<br />
The new breed of global merchants such as Uber, Netflix, and<br />
Airbnb, have built the success of their products and services<br />
on openness, so you can also expect an open technical setup<br />
from their payment providers. This puts pressure on payment<br />
providers to keep up with the Open API economy. The Open<br />
API driven digital innovations focused on building positive<br />
customer experience represent attractive revenue opportunity<br />
for the entire merchant payments ecosystem.<br />
Major card schemes MasterCard and VISA, which are fully<br />
aware of Open APIs driven opportunities are unbundling full<br />
suite of their products and services and giving developers<br />
open access to the underlying payment capabilities.<br />
MasterCard Worldwide announced in 2016 the release of its<br />
Open Application Programming Interfaces (Open APIs) for<br />
third-party and independent software developers around<br />
the world. Josh Peirez, Chief Innovation Officer, MasterCard<br />
Worldwide said: “We are excited about tapping into the<br />
ingenuity of software developers around the globe to help<br />
create the next generation of game-changing payment<br />
applications. We feel this will unleash innovation within our<br />
industry especially in the burgeoning areas of e-commerce<br />
and mobile payments.”<br />
Visa announced in February 2016 the launch of its global<br />
developer engagement program that includes the creation of<br />
a marketplace enabling financial institutions, merchants and<br />
technology companies to collaborate, share and search for<br />
innovative digital commerce applications and services. VISA<br />
Natalia Ivanis<br />
Head of Production, Empiria Group<br />
Natalia Ivanis is Head of Production team at Empiria<br />
Group, specialising in merchant payments & POS<br />
technology. She is a part of managing team behind<br />
Merchant Payments Ecosystem (<strong>MPE</strong>) - the biggest<br />
European conference on merchant payments. Natalia<br />
is also involved in strategic planning, large-scale,<br />
industry-specific research and content creation<br />
projects supporting key conference topics.<br />
opened more than 150 proprietary APIs to outsiders. These<br />
include such services as Visa Checkout, Visa Alerts, and the<br />
Visa Direct person-to-person payments app.<br />
Visa Inc, Rajat Taneja, executive vice president of technology,<br />
said: “We believe this will lead to the creation of entirely new<br />
commerce experiences with Visa technology integrated to<br />
enable greater security, scale and convenience when it comes<br />
time to pay. When you add the ability to distribute those new<br />
experiences across Visa’s global network, you can see why<br />
Visa Developer will become the preferred playground for<br />
developers everywhere.”<br />
And what are the challenges for payment processors<br />
and payment solution providers connected with Open<br />
Architecture?<br />
According to Wolfgang Berner, ACI Worldwide: “Software<br />
developers – regardless of whether they are on the merchant<br />
side or developing payment solutions for payment providers<br />
– have high expectations when evaluating a potential service.<br />
They expect the initial positive feedback in the first five<br />
minutes, the first success within 20 minutes, and a complete<br />
sketch for a solution within 45 minutes. If it does not deliver,<br />
the option will simply be discarded. Not being able to deliver<br />
the essential technical setup that is now expected can present<br />
a major obstacle to growth, and stop the pitch process for a<br />
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