Global Fintech Talent’s Post

𝗢𝗻𝗲 𝗼𝗳 𝘁𝗵𝗲 𝗯𝗶𝗴𝗴𝗲𝘀𝘁 𝗵𝗲𝗮𝗱𝗮𝗰𝗵𝗲𝘀 𝗳𝗼𝗿 𝗵𝗶𝗴𝗵-𝗿𝗶𝘀𝗸 𝗮𝗳𝗳𝗶𝗹𝗶𝗮𝘁𝗲𝘀? 𝗗𝗲𝗮𝗹𝗶𝗻𝗴 𝘄𝗶𝘁𝗵 𝗽𝗮𝘆𝗺𝗲𝗻𝘁 𝗽𝗿𝗼𝗰𝗲𝘀𝘀𝗼𝗿 𝘀𝘂𝗽𝗽𝗼𝗿𝘁: • 𝗦𝗹𝗼𝘄 𝗥𝗲𝘀𝗽𝗼𝗻𝘀𝗲 𝗧𝗶𝗺𝗲𝘀: Need help fast? Good luck getting a quick reply. • 𝗟𝗮𝗰𝗸 𝗼𝗳 𝗧𝗿𝗮𝗻𝘀𝗽𝗮𝗿𝗲𝗻𝗰𝘆: It's tough to get clear answers on payouts, policies, or merchant issues.  • 𝗣𝗼𝗼𝗿 𝗖𝗼𝗺𝗺𝘂𝗻𝗶𝗰𝗮𝘁𝗶𝗼𝗻: Ever feel like you’re chasing down info that should be easily available?  • 𝗟𝗶𝗺𝗶𝘁𝗲𝗱 𝗥𝗲𝘀𝗼𝘂𝗿𝗰𝗲𝘀: Processors often lack proper resources or knowledge to help affiliates in high-risk industries.  • 𝗡𝗼 𝗗𝗲𝗱𝗶𝗰𝗮𝘁𝗲𝗱 𝗔𝗳𝗳𝗶𝗹𝗶𝗮𝘁𝗲 𝗦𝘂𝗽𝗽𝗼𝗿𝘁: Affiliates often get stuck with general support that doesn’t understand their specific needs. How do you handle processor support issues? #HighRiskIndustry #AffiliateMarketing #PaymentProcessors #CustomerSupport #AffiliateStruggles #iGaming #SIGMAEurope #Swipelux #Payments #Visa #Mastercard #HighRiskPayments #AlternativePayments #CardProcessing #AffiliatePrograms

Who in your business is responsible for explaining the significance of payments to new hires and keeping the broader business up to speed? Payments moves fast, even when you live and breath it the challenge of staying on top of everything is real. So when a newbie joined Zip, part of my role was to take them through a payments 101. Here's what I would present along with an acknowledgement to Andy Mitchell who does these better than anyone else! 1. The Four Party Model: Who are the parties, what are their basic functions, how does four party become three party. And for fun let's figure out how Zip fits in (this became more fun when Zip became a principal issuer) 2. CP vs CNP and the evolution and blurring of their experiences. We would also take a look at how mobile phones had brought forward the use of CNP in face to face payment scenarios. 3. A technology stack / ecosystem in a typical bricks and clicks business. How payments, funds and reconciliation could flow between POS, Ecom, ERP, Accounting and how the experiences and demands might be different. 4. How Zip fit in. Zip's closed loop offering, our use of issuing, acquiring and alternate local rails to be where customers need us and collect repayments. 5. Some high level risks/regulations that they should consider when doing their job (PCI-DSS, Visa/MC/eftpos processing rules, common fraud vectors , etc) These were done pretty informally, and from time to time recorded to be referred to adhoc (I wonder if they're still used...) Personally, I think this was one of the most important functions I had at Zip. The world of payments and it's seemingly unrelated impact on your business is a massive risk if left untouched, especially as you scale. This is a deep passion of mine and one I'd be very happy to chat about for hours.

Payment Service Provider, (Card) Acquirer, Payment Processor, Merchant Servicer, Acquiring Bank Same/Same? Yes and No… That’s what it is bothering when we talk about payment. We use a word but a nuance exists. Let’s review some of them and give you some composure for your next meetup or dinner, not to look like a monkey. ◼ Avoid 🏷 Merchant Servicer in Continental Europe, only few understands, it is more used outside the Old continent to describe an 🏷 #Acquirer . ◼ 🏷 #AcquiringBank is heard in countries where there are only banks providing card acquiring services, using Acquirers is fine too. But remind that some acquirers are not banks. ◼ If you say 🏷 Acquirer for people who don’t understand card payment. They will be lost. (Like your granny, when she asks what is your job, and it happens there is an acquirer somewhere.) Say 🏷 Merchant’s Bank, easy peasy. ◼ 🏷 Payment Service Providers (#PSP) is the go-to expression if you have no f***ing idea who provides the service. Useful generalist expression, if you cannot describe precisely, and don’t want to create a big annoying silence. ◼ 🏷 Processors are now mixed with Acquirers because a lot of Acquirers embeds Technical Processing (AKA collecting technical data from a payment gateway and sending to a card Scheme) within their services. 🛑 But some of them are still distinct, only one processor or two processors but many different acquirers, it exists. 🛑 So if you say processor, be careful ! Just only say it in front of Americans, they will understand Acquirer ◼ 🏷 Principal Member is used by those who want to show off, because MasterCard and Visa APPOINTED them (and they pay for it). But they remain acquirers, same is same. ◼ 🏷 PG (Payment Gateway), 🏷 Card Company, 🏷 Settlement entity can also imply Acquirer in some Asian countries as Acquiring services are included in the technical contract. Did I miss someone?

Why Most Payments Companies Still Don't Understand Refusal Reasons Whenever I am asked to discuss how a Payments company can increase its Authorization Rates, I always start by asking them this first question; "How much do you know about the refusals you are getting?" The typical answers I get is; "What we know is what we get from our acquirer," However, understanding refusal reasons is the foundation of Authorization Rates Optimization. Let me explain... While you would expect that Acquirers and Issuers, follow the manuals provided to them by Mastercard and Visa, this couldn't be farther from the truth. The truth is, that most issuers decide for themselves how they interpret the refusal reasons internally, and to communicate to the acquirers, they tend to stick a lot of those reasons into generic buckets such as "Do Not Honor" Once I realized that, I decided to figure out if I could reverse engineer the logic of some of the largest Issuers in the world, which could help me improve the Authorization Rates at the Acquirer, I worked for almost 10 years ago. Here’s what I did to better understand refusal reasons: Step 1: Learn the Difference between Internal and External Refusal Codes Internal refusal codes are detailed and specific. They pinpoint the exact reason for a transaction decline, e.g., "110: Credit not available" indicates exhausted credit. However, refusal reasons that are actually communicated externally, tend to have broader mapped codes. For instance, "110: Credit not available" might be translated to "51: Insufficient funds." Step 2: Identify Common External Refusal Codes This led to me looking into the way that large issuers were communicating as the refusal reasons to find patterns in decline reasons such as: "51: Insufficient funds" "N7: Decline for CVV2 failure" "05: Do not honor" Step 3: Recognize the Disconnect Understanding the disconnect between detailed internal codes and generic external ones allowed me to start mapping them to eliminate confusion and inefficiency on a BIN-by-BIN level. Step 4: Bridge the Gap (Issuer outreach) To fully understand the mapping process, I started asking issuers directly. This helped me address refusal reasons and gave me the insights I need to start working on improving approval rates. While these steps might sound logical, many payments companies STILL don't grasp the full picture. The main reason for that is that most companies rely solely on generic refusal codes from acquirers or store raw refusal responses without analyzing and mapping that data. However, if they spent time understanding the gap between how issuers map refusal reasons and how they receive them, they would be able to develop new tools to improve transaction approval rates, which would significantly boost their authorization rates and enhance customer satisfaction. Are you leveraging refusal data? P.S. Check out my newsletter https://buff.ly/3RXzt7Z

ADIB is the first fully shariah compliant banking group in the world to enable VIS for covered cardholders in the UAE; Mashreq subsidiary NEOPAY is first acquirer to enable solution at local merchants VIS is available at select retail stores and brands in the UAE Dubai, United Arab Emirates:– Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, in partnership with Visa (NYSE: V), a world leader in digital payments, has announced “Visa Installments Solution (VIS)” is officially live for ADIB covered cardholders in the UAE. NEOPAY, the payment subsidiary of Mashreq, becomes the first acquirer to enable VIS at local merchants in the UAE. The solution is available now at Sharaf DG (Dubai Mall), Jacky’s (Mall of Emirates, Deira City Centre, Khalidiyah Mall, Burjuman Centre and Zahia City Centre) & iStyle (Mirdif City Centre) with more merchants to enable VIS soon. According to the agreement, ADIB Visa-covered cardholders can now opt for “Visa Installments” to pay back, the utilized amount from their covered cards for their spending, into smaller, equal payments at checkout in-store to effectively manage their budgets and afford larger purchases effortlessly. "We are excited to see “Visa Instalment Solution” officially live in the UAE. This is the result of Visa's efforts in line with the government’s digital commerce agenda to enable banks and merchants in bringing this innovative solution to the UAE retail sector. Thanks to our partners ADIB and NEOPAY, the UAE has become the first market worldwide to roll out the VIS with a set of unique, industry-wide features, including cross-border Installments. This partnership is a testament to our commitment to delivering an enhanced digital retail journey for consumers who seek and deserve better, more rewarding payment experiences,” said Dr. Saeeda Jaffar, Visa’s SVP and Group Country Manager for GCC. Amit Malhotra, Global Head of Retail Banking at ADIB, commented: “The launch of Visa Installments Solution (VIS) for ADIB cardholders marks a significant milestone in our commitment to enhancing financial convenience for our customers. As the first fully Shariah-compliant banking group globally to enable VIS for covered cardholders in the UAE, we are proud to offer this innovative solution in partnership with Visa. Through our collaboration with Visa, ADIB cardholders can now enjoy the flexibility of paying back, the utilized amount from their covered cards for their purchases, into smaller, manageable easy installment payments at select retail stores, empowering them to make larger purchases effortlessly while staying within their budgets. This initiative underscores our dedication to providing cutting-edge financial solutions that cater to the evolving needs of our customers and contribute to the growth of the digital commerce landscape in the UAE.”👇👇👇

In today's fast-paced digital world, speed is everything—especially when it comes to onboarding merchants. In a recent The Payments Association article they highlight the critical importance of Know Your Business (#KYB) speed in merchant onboarding. With businesses needing to adapt quickly and securely, a streamlined KYB process is not just a competitive advantage—it's a necessity. The article underscores how the right technology and approach can drastically reduce onboarding times while ensuring compliance and minimising risk. There's truly "not a minute to waste" when it comes to setting merchants up for success. 🔗 Check out the full article to learn more - https://lnkd.in/gkWS7xji #Payments #Fintech #KYB #MerchantOnboarding #Compliance #DigitalTransformation

There are ways to reduce costs in acceptance processes, centered on capturing the comprehensive level of transaction detail required by Visa and Mastercard. Read more: https://ow.ly/WFfH50S2uiF #payments #b2b

How do card payments work, and what happens behind the scenes when a card transaction is initiated? From authorisation to approval and settlement, there are a lot of invisible infrastructural processes that take place when a consumer initiates a card payment to a merchant. Depending on the type of transaction - such as guest checkout on an e-commerce platform, or saving card details in a digital wallet for future use - businesses can construct their own payment flows to accommodate for various customer journeys. These tweaks and optimisations are crucial to remain competitive and deliver the most seamless user experience that keeps customers coming back. When it comes to bigger businesses, card payments become far more intricate. Enterprises often have multiple merchant IDs or accounts where transactions are settled into. This can create complexities as the merchant ID needs to sit at the bank that the payment service provider (PSP) is integrated into. More accounts, merchant IDs and PSPs means more potential points of failure that can lead to more declined transactions. This has the potential to negatively impacts the customer experience, resulting in lower conversion and retention, and less revenue for the business. Understanding the basics behind a card transaction and how to customise your card payment experience is key to ensuring you're offering the best experience for your customers. Learn more about how card payments work in South Africa, and how you can offer the best payments experience for your customers: https://lnkd.in/ds2dCtrs

In today's fast-paced digital world, speed is everything—especially when it comes to onboarding merchants. In a recent The Payments Association article they highlight the critical importance of Know Your Business (hashtag #KYB) speed in merchant onboarding. With businesses needing to adapt quickly and securely, a streamlined KYB process is not just a competitive advantage—it's a necessity. The article underscores how the right technology and approach can drastically reduce onboarding times while ensuring compliance and minimising risk. There's truly "not a minute to waste" when it comes to setting merchants up for success. 🔗 Check out the full article to learn more - https://lnkd.in/gkWS7xji #Payments #Fintech #KYB #MerchantOnboarding #DigitalTransformation #asiaverify

👉🏼𝐇𝐢𝐠𝐡-𝐑𝐢𝐬𝐤 𝐌𝐞𝐫𝐜𝐡𝐚𝐧𝐭 𝐀𝐜𝐜𝐨𝐮𝐧𝐭 𝐈𝐧𝐬𝐭𝐚𝐧𝐭 𝐀𝐩𝐩𝐫𝐨𝐯𝐚𝐥 𝐚𝐭 𝐓𝐢𝐜𝐤𝐥𝐞𝐂𝐡𝐚𝐫𝐠𝐞👈🏼 If your business falls into the high-risk category, securing a reliable payment processor can feel overwhelming. At 𝐓𝐢𝐜𝐤𝐥𝐞𝐂𝐡𝐚𝐫𝐠𝐞, we specialize in providing high-risk merchant accounts with instant approval, ensuring that your business can process payments without unnecessary delays. ✅𝐖𝐡𝐲 𝐇𝐢𝐠𝐡-𝐑𝐢𝐬𝐤 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬𝐞𝐬 𝐍𝐞𝐞𝐝 𝐈𝐧𝐬𝐭𝐚𝐧𝐭 𝐀𝐩𝐩𝐫𝐨𝐯𝐚𝐥 High-risk industries often face more hurdles when applying for merchant accounts, including higher fees, complex underwriting processes, and increased scrutiny from banks. This is where TickleCharge comes in. We understand the unique challenges high-risk businesses face, whether you're in e-#commerce, #CBD, #adult entertainment, or #travel. Our instant approval process eliminates the typical barriers, allowing you to focus on growing your business. ✅𝐇𝐨𝐰 𝐓𝐢𝐜𝐤𝐥𝐞𝐂𝐡𝐚𝐫𝐠𝐞 𝐃𝐞𝐥𝐢𝐯𝐞𝐫𝐬 𝐅𝐚𝐬𝐭 𝐀𝐩𝐩𝐫𝐨𝐯𝐚𝐥𝐬 At 𝐓𝐢𝐜𝐤𝐥𝐞𝐂𝐡𝐚𝐫𝐠𝐞, we use a streamlined approval process that allows high-risk businesses to start accepting payments almost immediately. By leveraging our extensive network of banking partners and expertise in high-risk industries, we can offer flexible payment solutions tailored to your business model. We understand the intricacies of high-risk industries and ensure your application moves quickly through the approval process. ✅𝐒𝐞𝐜𝐮𝐫𝐞, 𝐑𝐞𝐥𝐢𝐚𝐛𝐥𝐞 𝐏𝐚𝐲𝐦𝐞𝐧𝐭 𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬 Not only do we provide instant approval, but we also offer secure, PCI-compliant payment processing solutions designed to minimize chargeback risks and fraud. Whether you're operating online, in-store, or both, our payment gateways are optimized for your specific needs, ensuring seamless transactions. ✅𝐆𝐞𝐭 𝐒𝐭𝐚𝐫𝐭𝐞𝐝 𝐓𝐨𝐝𝐚𝐲 With 𝐓𝐢𝐜𝐤𝐥𝐞𝐂𝐡𝐚𝐫𝐠𝐞, high-risk #merchants no longer need to face the frustrations of lengthy approvals. Apply now for a high-risk merchant account with instant approval, and start processing #payments confidently and securely. Let us handle the complexities of payment #processing, so you can focus on growing your business Email - ticklecharge@tickle.life Website - www.ticklecharge.com