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COVID-19 accelerates mobile wallet adoption across Asia-Pacific, finds GlobalData

Mobile wallet adoption and usage is poised for major growth in the next few years in the Asia-Pacific (APAC) region, and thereby displace traditional payments such as cash and cards. The COVID-19 pandemic has accelerated the trend as mobile payment has emerged as one of the few areas in the whole payments industry that has seen a positive impact from the pandemic, according to GlobalData, a leading data and analytics company. APAC markets like China and India have been aggressively promoting mobile wallets, putting them in place far ahead than [...]

What do retailers think about BNPL?

The term ‘Buy now pay later’ (BNPL) is what we think of when customers can take home their purchase but pay for it over time.   Once, this kind of ‘pay later’ shopping was about applying interest-free periods after the purchase, during which no payments are made, and no interest charged. Immediately following this interest-free period, payments were expected in full, otherwise the interest from the original time of purchase was added. That interest could be substantial.  It’s an option that seemed good [...]

Integrating Alternative Payment Methods

Alternate payment methodologies are widely available, multiple contingencies have to be overcome if they can truly take off in Asian markets, a panel has revealed. A panel of industry leaders spoke at the two-day Seamless Asia event, highlighting how various online merchants and service providers have a host of payment options available to them in order to bring about a more seamless transaction and overall process for their customers. At the same time, these merchants are somewhat bound by [...]

Getting your payment checkout flows right

Moderated by Payments Consulting Network research director Catherine Batch, a session at the June 16th-17th Seamless Asia online conference entitled ‘getting your payment checkout flows right’ addressed how the pandemic has accelerated digital payments and increased the number of people clicking ‘pay online’ by up to 80%. Joining the discussion was Satya Tammareddy, Head of Sales – Southeast Asia for Stripe; Kannan Rajaratnam, Regional Director of Payments & Customer Operations for Zalora; and Wai Hong Fong, Chieftain and Co-Founder of [...]

RBA Submission – Review of Retail Payments Regulation Consultation Paper

Payments Consulting Network (which powers Merchant Pricing Hub) has made a submission to the Reserve Bank of Australia in relation to its Review of Retail Payments Regulation Consultation Paper. Over the last 12 months we have supported over one hundred small, medium, and large businesses, industry associations, and not-for-profit organisations, to lower the cost of payments and improve service levels. Least-cost routing has been an important enabler in helping us achieve significant cost savings for clients. The submission outlines our position [...]

Q&A with Stephen Benton at eftpos

Australia's domestic card scheme, eftpos, has been transforming its product offering over the last two years beyond just supporting card-based payments at point-of-sale to a digital business. Released in March, eftpos’ 2021 Product Roadmap update aims to drive payments competition and improve consumer experiences in Australia’s fast-growing digital economy. It outlines delivery timeframes for a suite of initiatives including in-app payments, enhanced fraud protection, a digital identity network, mobile wallets, QR codes, APIs and fintech access, and eftpos online [...]

Liz Beggs joins Payments Consulting Network

Payments Consulting Network is pleased to announce that Liz Beggs has joined the team. Her experience will prove particularly valuable in supporting clients leverage Merchant Pricing Hub’s services to reduce the cost of payments acceptance. Liz has over 25 years’ experience holding senior roles in the payments, telecommunications, banking, postal, finance and not-for-profit sectors. A results-oriented professional, Liz brings expertise in various areas including payments, strategic planning and implementation, financial and commercial modelling and application, business analysis, eCommerce and product development and management. Specialising in payments, Liz has worked with many retailers to develop their payments strategy and to understand [...]

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