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BPC , a global leader in payment solutions, today announced the release of its latest report, Next-Generation Acquiring: A New Reality of the Digital-Ready Future. To remain competitive, the report emphasises the shift towards Acquiring as a Service (AaaS), reducing costs while ensuring compliance and rapid innovation.
While banks still hold the majority of merchant relationships and dominate acquiring market share in most regions, they face an existential risk. As fintechs’ superior payment solutions lure away more merchants, banks stand to lose processing revenue and all-important settlement deposits. billion in 2024.
The acquiring industry is being reshaped by four key trends redefining how merchants accept and manage payments. The emergence of specialist vertical acquirer s,catering to specific industries such as gaming, hospitality and e-commerce. Regulatory developments are further shaping the future of acquiring.
As part of this collaboration, Network will provide expertise and support for solutions including transaction processing, card management, fraud prevention, APIs sandbox, reconciliation and settlement, and online access for Airtel users. It currently serves 50 countries across the MEA region, including more than 40 African markets.
From independent sales organizations (ISOs) and payment facilitators (PayFacs) to acquirers, card associations, and beyond, each entity plays a unique role in shaping the payment industry. billion by 2027 , reflecting the indispensable role of these technical maestros in managing transaction authorization and settlement.
EquensWorldline, an OpenWay client, migrated to the Way4 acquiring platform when SEPA was introduced in Europe. Moreover, they launched a platform for 4,400 service providers through an API layer, enabling telcos, utility companies, and various startups to access their services and generate new revenue.
There are six main payment methods used in online payments, including credit & debit cards, digital wallets, ACH & bank transfers, direct debit, Buy Now, Pay Later (BNPL) services, and cryptocurrencies. The merchant account : this is a special bank account that allows you to accept and process credit and debit card payments.
Worldline [Euronext: WLN], a global leader in payment services, has signed a contract with Banque Raiffeisen , making them Worldline’s first client on its cloud-based instant payments solution in Luxembourg. Using Worldline’s modern cloud infrastructure, Banque Raiffeisen will benefit from smarter and quicker onboarding processes.
Wirecard announced that it is set to gradually acquire all shares in Bejing-based AllScore Payment Services so it can expand into cross-border licenses. There is a call option that will enable Wirecard to acquire the remaining 20 percent of shares after two years. “We We are excited to share the news of Wirecard entering China.
That’s why PYMNTS recently caught up with two payment experts from Endava — Global Head of Payments Delivery Petru Metzger and SVP of Payments Delivery Glenn Geil — for what amounts to a sneak peek of the coming attractions in payments in 2020, at least when it comes to value-addedservices.
The Biz2X platform leverages Network’s merchant transaction and settlement data to prequalify merchants for financing, significantly reducing documentation requirements and expediting approvals. Financing options through this partnership are expected to become available to Network’s UAE-based SME merchants early in the fourth quarter of 2024.
A payment gateway is ideal for businesses that want to keep control over their payment stack and work with separate processors or acquiring banks. A Payment Processor is the entity that handles the actual transaction by transferring payment data between the merchant, the issuing bank (customers bank), and the acquiring bank (merchants bank).
Core Functions of a Payment Orchestrator Here we’ll cover the core functions that drive the core value of payment orchestrators. Value-AddedServices : Some payment orchestrators offer advanced features, such as fraud detection, currency conversion, or optimized routing, which come at an additional cost.
Yet, even in a big week, there are standouts — Visa bought Plaid , Goldman Sachs ’ Marcus hit $60 billion in deposits and 75 percent of small- to medium-sized businesses (SMBs) said that slow settlements create cash-flow crises for them. In terms of mechanics, the acquisition — which involves a cash payment of $4.9
Payment service providers will need to find ways of monetising the data generated by payments and creating value-addedservices that elevate payments beyond a simple transfer of funds. For businesses, A2A payments promise higher conversion rates, reduced transaction costs, and real-time settlement.
The EU also maintains a single market, allowing for the free movement of goods, services, capital, and people among member countries, fostering economic cooperation and integration. This increased competition has benefited merchants by providing them with more choices and better terms for payment processing services.
These APIs handle everything from acceptance and processing to settlement and reconciliation, while ensuring compliance and security. Stripe’s early success in acquiring customers was largely due to its mass appeal to the developer community. In March 2018, Stripe acquired Index , an in-store POS system startup.
By incorporating payment processing, these systems allow for direct invoicing and immediate settlement of transactions, enhancing cash flow management and financial reporting. A PayFac is an intermediary between the merchant and the payment processors or acquiring banks.
billion acquisition of Ingenico, which ended up creating the largest acquirer and payment processor in Europe. Acquire a domain name and the equipment needed. It handles the customer-facing part of a transaction, while the payment processor manages the complex back-end processes related to transaction authorization and settlement.
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