Money 20/20: What’s on our radar?
Money 20/20 is arguably one of the biggest dates in the fintech calendar and the Silverflow team are excited to touch down in Vegas next week to join fintech’s biggest conversation.
Not only are we looking forward to meeting with fellow industry comrades face-to-face, we are going to be galvanising the conversation around the future of payments.
Monday, October 24: How Payment Orchestration is Evolving Payment Infrastructure in Latin America
Wallets, boletos and cards, oh my! There are dozens of payment methods being used every day in Latin America. With 20+ countries and over 600MM people in the region, cultural norms, access to the internet, use of mobile phones, and economies all factor into buying habits, which vary by country. Merchants should expect and will need a country-by-country approach to payments: Customer demand for installment payments in some, preference to pay with cash-based products rather than credit cards in others, and inability to use credit cards internationally throughout the region.
Using a payment orchestration platform to offer and organise many of the payment variables in Latin America is becoming a popular option. A good orchestration solution should offer a wide range of payment methods and ways to pay, but it should also offer smart routing and consolidate data so users have a complete view of all data from all payment methods.
Monday October 24: Can Embedded Fintech & Payments Help Businesses Scale and Expand Globally
Embedded payments give companies an opportunity to provide a unique buying experience for their customers. Whether it’s a cup of coffee through a mobile app or purchasing insurance through a website, the ability to buy goods/services on your website and/or mobile app is a must have for any company with aspirations to expand domestically and internationally. This also gives consumers a frictionless payment experience, and in many cases helps build brand loyalty.
Offering this ability to make payments does come with challenges. Merchants need to understand the markets they are selling in and offer the right mix of payment options, whether they should sell in the local currency, and what risk and fraud exposure exists. Using partners that offer omni channel solutions is a critical piece that gives companies a uniform view of their customer’s details regardless of the channel they used to make a purchase.
Tuesday, October 25: What’s Driving the Subscription Economy
Access to data, data and more data from the card networks, and then knowing how to apply this data to transactions. Many data integrity fees are caused by the EMV tag value being sent in the authorisation record is different than the value being sent in the clearing record.
Some are caused by submitted EMV values not being recognised due to the POS device being used is operating on older software and needs to be updated. Still others are caused due to errors made by the acquirer during the merchant onboarding set-up–these could include incorrect state code, incorrect zip code or null values in these data fields. When the clearing records are sent with the incorrect information there is a data discrepancy and the data integrity fee is assessed.
Want to discuss more?
Get in touch
About The Authors
Robert Kraal has over 20 years of experience in online payments. As Co-founder and Chief Business Development Officer of Silverflow, Robert is responsible for maintaining relationships with the card schemes, acquirers, PSPs and regulators.
Nigel Thacker is another payments veteran with 20 years experience in online payments. As CCO of Silverflow, Nigel is responsible for the sales and go to market strategy, heading the commercial team across Europe and beyond as Silverflow expands its reach.
Jonathan Fuller has held numerous client and partner-facing roles over the course of 18 years in payments at companies including ChasePaymentech, RBS Worldpay, Adyen, Vantiv, Silicon Valley Bank and Gulf Oil. Jonathan is leading the Silverflow expansion in the United States.
Silverflow is a global payments technology company, founded by online payments industry veterans, with the mission to accelerate technological innovation in the payments industry. Silverflow’s cloud-based platform provides a state-of-the-art upgrade and direct access to the card networks for payment services providers, merchants and acquirers. Its intuitive product and scalable technology provides value, creates efficiencies, and drives new opportunities for all. Based in Amsterdam, Silverflow is backed by Crane Venture Partners, INKEF Capital and notable angel investors from Pay.On, First Data, Booking.com, and Adyen.
Learn more: www.silverflow.co
Read more Silverflow blogs and stay up-to-date.