Today’s Payments Ecosystem – the Opportunities and Challenges
There continues to be a rise of digital commerce based on customer adoption of innovations like digital wallets, buy now pay later (BNPL), instant payments, instant issuance of cards and cryptocurrency. It is expected that the payments industry is primed for even more innovation over the next 5 years.
The bottom line is investment in payments technology is needed more than ever to enable players to be more agile and future-ready, delivering faster speed and scale of innovation and greater revenue.
More than ever financial institutions, fintech players and even big tech and non-banking organizations need a deep a deep range of payments product solutions that can support cards, mobile payments as well as traditional lending services and buy now pay later. These solutions require access to every major network partner as well as valued added services such as fraud prevention, contact center support, dispute management, and even white label web and mobile apps — all needing to be highly configurable to support customization and speed to market.
Banking Transformed Podcast invited Dan Hanks, Vice President and Head of Development for Lending at i2c Inc. Watch the replay to gain insights into the opportunities and challenges in today’s payments ecosystem.