Identifying Consumer Payment Preferences
In many countries and regions in the world, consumer preference is to transaction/pay with some form of payment other than a credit or debit card. For example, in many European countries, consumers prefer to pay directly from their bank account via an authenticated login. These types of “giro” or push payments generally have the benefit of being guaranteed or indemnified by the Issuer. Direct Debits are also very common in some markets, but bring with them significant risks in that they are generally NOT indemnified nor is there realtime funds availability, requiring very robust merchant risk management to ensure losses are mitigated. Finally, in some emerging markets, cash is very prevalent, presenting another set of challenges particularly in an online environment. Fin-Serv has deep knowledge of these “Alternative” forms of payment on a per-market basis and can:
- identify who the operators of the alternative schemes are
- determine how to access alternative scheme or become a member of such schemes
- assess costs
- enhance risk management to mitigate losses
RELATED PROJECTS
- Developing financial supply chain for alternative payments on behalf of a Regulated EU Financial Institution
- Development and management of a European Prepaid card programme
- Development of a virtual instant issuance prepaid programme in the USA
