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Speakers: Elizabeth McQuerry, Glenbrook Partners; Mike Sklow, Goldman Sachs; Samson Rajan; JP Morgan; Miriam Sheril, Form3 1:30pm-2:10pmCT: Panel Session – Business End-Users Mega Use Cases (City Beautiful Ballroom AB) As more capabilities become available for faster payments, business endusers are finding creative ways to use the services.
Use cases for Mastercard Send and Visa Direct range from P2P to C2B in the gig economy world – and B2C for disbursements supporting a diversity of use cases, including tax refunds, insurance claims and on-demand payroll for W-2 workers. Or that wire transfer revenues could be cannibalized as endusers are incented to shift payments to RTP.
In that scenario, he continued, the alcohol delivery driver representing the distributors will be able to send a request for payment through a mobile device to the restaurant/buyer or the liquor store, where typically the owner or proprietor taking the delivery is waiting.
BehavioSec’s BehavioMobile offers fraud detection by monitoring device rhythm and interaction patterns that are unique to each enduser. Fiserv’s Digital Banking Solution helps financial institutions deal with the continuously increasing demands of endusers for impactful banking experiences.
Even more challenges are ahead for the world’s cross-border payments market, as regulatory pressures continue to cause a decline in the number of correspondent banking relationships. What’s more, Tutsch noted, the enduser shouldn’t be able to notice the complexities of all these collaborations and integrations.
Because we’ve all seen what happens when we let the shiny new toy syndrome (aka what’s best for the innovator and not the enduser) drive innovation. Prepaid is another product category that sounded good to innovators but perhaps less compelling, at least so far, to the intended enduser. Take checkout.
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