• The origins of the Au brand
• The evolution of Au Vodka B2B distribution
• How Au Vodka has crafted an exceptional online customer experience

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• The impact of COVID-19 on sports venues and their ticket sale process
• Changes in how fans are engaging with live sports
• The correlation between fan demographics and payment methods

Listen to the latest episode to dive into the captivating world of blockchain technology and its potential to revolutionise how we purchase tickets. Plus, we uncover the crucial role of a seamless and flexible payment journey in elevating customer satisfaction.

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From empowering young minds with financial knowledge, to the roles of technology and collaboration, we deep dive into the evolving landscape of debt recovery.

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Martin and AJ share examples of how financial services firms are using Open Banking to comply with new regulations and discuss how “Pay By Bank” can influence this part of the Consumer Duty.

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Clare shares her insights on the current landscape of Account to Account payments including:

• A commentary on customers’ current attitudes towards adopting Open Banking payments
• The opportunity for banks and merchants to incentivise the consumer in an effort to continue building trust and credibility around Open Banking payments
• The challenge of defining Open Banking

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Listen to hear more about key topics, including confirmation of payment, banking API performance and overall user adoption. We also deep dive into how Open Banking can support merchants in achieving faster settlement and reducing costs.

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Don’t have time to listen to the full podcast? Here’s everything you need to know…

Banking API Performance: There needs to be more conversation around the performance of Open banking APIs – banks often don’t have enough incentive or desire to improve these APIs as they currently don’t generate any revenue for the banks. To achieve long-term ambitions with Open Banking in the UK, it’s important to create an ecosystem in which all the players have the incentive and motivation to create something that’s valuable for customers.

Confirmation of Payment: Consumers demand a seamless experience when engaging with products and services. If we want to improve consumer adoption then we must improve Open Banking to solve the issues consumers face during the checkout process with other payment methods.

One improvement we’re currently seeing is many PISPs are now partnering with payment providers to provide dedicated settlement accounts for Open Banking. Using dedicated settlement accounts provides merchants with notification that their funds have been settled into their account, as well as informing consumers that their payment has been accepted.

Refund Experience: With dedicated settlement accounts, the refund experience for the consumer is much more slick and streamlined. Instead of requesting the consumer’s account number and sort code for a refund, merchants using dedicated settlement accounts will be able to reconcile funds to the Open Banking payment and have visibility of the underlying customer details, allowing them to execute the refund via faster payment easily and quickly.

Open Banking vs Other Payment Methods: We’re already seeing that Open banking provides an accelerated checkout experience in comparison to traditional card payments in terms of less manual data entry. In time, we predict that Open banking will get to a point where it can challenge speedier forms of payment like Apple Pay, Google Pay and other wallets. But it’s vital to recognise that any innovation in the payments landscape takes time and adoption of these new technologies can be slow.

Fraud and Open Banking: Confirmation of payee has been an important development for tackling fraud – last year alone the industry saw close to 200,00 instances of APP (Authorised Push Payment) fraud. However, recent changes surrounding banks’ shared liability for fraudulent payments could have a negative impact on the cost of Open Banking payments, with transactions over a certain value being declined immediately.

We also explore the fraud implications of both payment methods, as well as the challenges of implementation and adoption from a consumer and business perspective.

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George is joined by our guest Neil Fillbrook, Global Head of Merchant Services & CEO UK & Ireland at Bank Brokers, who provides insights on understanding what merchants are looking for in today’s world when they go to market. We also discuss the pivotal role of a provider’s technology stack beyond cost considerations, explore the benefits of a consultative market approach and gain insights into working with an acquirer agnostic payment gateway.

Key topics discussed in this episode include:

• What are merchants looking for in today’s world when they go to market?
• How important is the technology stack when choosing a new payments provider, rather than just reviewing cost?
• What does a consultative approach to the merchant services market look like?
• What are the benefits of working with an acquirer agnostic payment processor?

The role of Bank Brokers and their work is a trusted, international and independent partner helping businesses optimise their payment solutions.

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This episode also touches upon the ever-evolving landscape of cybersecurity and payments, and includes a thought-provoking discussion on the opportunities and challenges of Consumer Duty.

Daniel Garcia will be speaking at the UKCCC event on September 14th 2023 about the specific uses of AI in collections, future regulation and integration.

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• Implications for compliance and keeping compliance at the heart of the Zumo brand
• Shifting mainstream perceptions when it comes to the question of security
• Steps being taken to make the industry more sustainable
• Challenges for crypto platforms when finding banking and payments partners

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