The evolving technology from new entrants in the industry of payments, as new consumers requirements have driven in the recent years, a major innovation in most devices of the market. « Instant Payments the Accelerator to Digital Age » . So, new payment services must evolve now, towards immediate execution of payment orders and availability of funds for customers.
Instant Payment Definition
In front of this major challenges, « ACI Worldwide » is offering « Instant Payments » services to Retail Banks, PSP, as major enterprises from the Retail Industry. We had the opportunity to interview « Paul Thomalla » , Senior-Vice-President Global Head of Corporate Relations, in order to clarify some points in the accelaration of the Digital Age. Moneticien.com – « Instant Payments the Accelerator to Digital Age » – All Rights Reserved – 12/2015
Today most initiatives are taken around the world to improve the efficiency and effectiveness of payment infrastructures. The objectives ? to enhance speed, transparency and convenience for customers with an extension of 24 hours /7 days availability in a domestic as cross-border markets. Ending 2014, a definition of « Instant Payments » has been clarified from EBA Clearing members of the Task Force « an immediate reusability of funds and close to immediate interbank clearing, expressing an expectation for at least one Pan-European Euro instant payment infrastructure in short term » . The first issue for Instant Payments market being, for instance, a person to person mobile payments in Euro.
Source : ACI-Worlwide – Worldwide Pilots Overview – December 2015
Paul Thomalla Exclusive Interview
Thank you so much Paul for accepting this exclusive interview to Moneticien readers, in order to better understand the added value offered by « Instant Payments » to the French market, a revolutionary concept allowing all parties involved in payments to be connected with their future. Moneticien.com – « Instant Payments the Accelerator to Digital Age » – All Rights Reserved – 12/2015
Monéticien : Instant payment is a new technology answering needs of customers and merchants to enable real time payments. It means to introduce in the value chain, an immediate execution of payment orders and avaibility of funds for customers. What are the main reasons conducing ACI-Worldwide to adopt and promote this concept ?
Paul Thomalla : From diferent types of payments, as cash, checks, cards payments, etc. essentially Instant Payments is another generation of leads, in another way of doing payments. As you know, cash is the major known of instant payment. The idea is to have a different payment done and exchanges value in real time. For instance, Coffee shop activity is a different way doing all together. It is a new methodology of processing payments to answer market needs, and schemes that are involved in it, are the new players with banks, PSP (Payment Service Provider) and retailers. Moneticien.com – « Instant Payments the Accelerator to Digital Age » – All Rights Reserved – 12/2015
Source : ACI-Worlwide – Business Overview – December 2015
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Monéticien : Don’t you believe Instant Payments will become a new opportunity to disintermediate major schemes ?
Paul Thomalla : ACI works with the current players in the market, understand opportunity that Instant Payments brings and that this could raise the question of disintermediation. However, as Only Moneticien subscribers may access to this entire publication. If you wish informations about us or subscribe to our association, feel free to fulfill with your professional data at the end of this page. You will be contacted soon.
Publication : « Instant Payments the Accelerator to Digital Age » .
Many thanks Paul for your time as quality of your answers and we wish you all the best for Instant Payments deployment in France.
Author: Georges LANGEAIS
La Rédaction
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