Powering Payments: Driving Business Growth With Seamless Payment Solutions
The session features a panel discussing the value of payments and business growth with seamless payment solutions.
Key highlights
Payments Evolution and Regulation:
- Dr. Sergio Navajas, Senior Specialist, IDB Lab discusses how digital payments are evolving in Latin America, often driven by large banks and later regulated by governments for creating interoperable systems.
Customer Experience and Value Creation:
- Sarita Singh from Stripe emphasises that optimising the payment experience for merchants directly improves customer satisfaction and overall business value.
- Payments should be seen as a strategic function critical to overall customer experience.
- Gary Liu from Ant International provides a perspective on turning digital payments into revenue opportunities by engaging customers for repeat transactions.
Role of Technology:
- Stablecoins are identified as a significant technology for cross-border payments, reducing transaction times and costs.
- AI in AML (Anti-Money Laundering) processes can drastically improve detection and prevent fraud.
Cross-Border Payments Challenges:
- Discussion on the complexity of handling multiple payment methods and ensuring interoperability across different regions and systems.
- The importance of creating a seamless cross-border payment experience without overwhelming customers with too many choices.
Conclusion
The panel concludes that the seamless integration and evolution of payment solutions can significantly drive business growth and improve the overall customer and merchant experience.
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Speakers:
- Andrea Baronchelli, Co-founder & Chief Executive Officer, Aspire
- Gary Liu, GM of Global Merchant Services, Antom, Ant International
- Sarita Singh, Managing Director of Southeast Asia, India and Greater China, Stripe
- Dr. Sergio Navajas, Senior Specialist, IDB Lab
Moderator:
- Michael Abbott, Senior Managing Director, Global Banking Lead, Accenture