Listen up, payment provider community.
Increased digitalization, continued pursuit of integration across channels, ever-increasing complexity, more partnerships and the integration of technologies like the Internet of Things, machine learning and artificial intelligence may be what’s needed to propel the payment provider industry forward, at least according to Creditcall’s CEO Lars Pedersen.
“We must embrace these new technologies and the resulting complexity so we can provide solutions that merchants can readily deploy to increase revenues, reduce costs, and gain greater insight into customer preferences and business logistics,” Pedersen said.
As a company that was just named to the London Stock Exchange Group’s 1,000 Companies to Inspire Britain, all while being 100 percent self-funded, payments provider Creditcall may just have that certain je ne sais quoi.
“The main reason we have been able to grow in a self-funded way is that we have a rigorous process for deciding what activity to take on,” Pedersen said. “As such, we say no to a lot of projects, simply because there are other projects coming our way with better business potential.”
Creditcall saw an astounding growth of 82 percent in its eCommerce, vending, ticketing and retail markets on a recurring monthly basis. It also received a 100 percent first-time pass for its EMV certification, boosting its Level 3 certifications by 300 percent. It also saw a 60 percent increase in card present and not present connection to its gateway during the last 12 months.
One key to Creditcall’s success could be the verticals it spans and plans to grow upon.
“Creditcall’s current solutions are agnostic and function across almost all verticals and industry sectors,” Pedersen said. “Our primary focus in the near future is on geographical expansion and a number of new and very exciting partnerships. Through these partnerships, we will accelerate our growth, and our market footprint will expand significantly into new territories, including South America and APAC.”
Though the payments industry continues its evolution in corporate, retail and commercial, long-term advances will probably depend on the digitalization of payment processing and the remaining commerce aspects.
“Our current focus is on advanced payment technologies that enable merchant solution providers to deliver true omni-channel solutions to their merchant customers. As markets develop, Creditcall will continue to do so, but in an expanded sense to include technologies like IoT for data sharing that will enable enhanced analytics and improved customer experiences.”
Source: http://www.pymnts.com – Payments
Internet of Things, Machine Learning Will Push Payment Industry Forward, Creditcall CEO Says