Problems in the Payments Industry
So I’m lookin to understand the actual Challenges sales, partnerships, and biz dev folks can solve for companies like Square, Stripe, PayPal, etc. Any thoughts on what’s happening on the inside or publications that have a good take on the space? Currently following 2pml.com for commerce and culture. Would love to learn more. #e-commerce #payments #stripe #stripesgroup #square #paypal #paypalcareers
2PMOne big issue is the cost of adult billing. It’s horrible how high the fees are to take payments. With all the technology we have these days this needs to be fixed
What is adult billing?
I'm going to guess adult billing is related to porn. 🤷♀️
You sure you are not crowdsourcing ideas for "fintech hackathons" ?
Lol no I’m tryna get a job and position myself for informational interviews. Try again.
What role you are targetting ?
Take a look at Payments magazine.
Will check out — thank you !!
Agreed PYMNTS.com is a good resource if that’s the same
Is this how Nielson does market research now lol
No, this is how someone trying to leave does high level research. 🙂
If you are at Nielsen, don’t you have access to their internal research/publications?
Cost: payment fees Cost for payment companies: 1. money with issuers/acquirers/network; 2. Fraud fees 3. Common cost as a company You use credit cards and get card benefits/cashbacks from issuer bank. That’s because they take a good amount of fee from the payment loop.
Worth checking out Payment Systems in the US. You can get it on amazon, great place to get started with payments.
Amazon payments is supposedly a bad organization 😒
Lol, the book is on amazon, and the book is a good place to start, not Amazon Pay. Sorry for the awful phrasing.
Found this podcast to be helpful: https://open.spotify.com/show/1dJwuVnXkA7pfCVanH7hCU?si=5OFoyXx3SKSLxtWiVbcbSg
Thanks so much !!
Coursera has a fintech specialization created by Wharton that goes over payments, crypto/blockchain, lending products, and money movement. Pretty easy to knock out in a few weeks and content is interesting
The biggest problem is the high fees involved in the whole process.
I think,in general, transaction banking businesses are doing great. For service providers as well as for clients. I have seen clients themselves pushing for latest techs. solutions.
Agreed. Perhaps there are no challenges and right now it’s just a competition for market share and scale
The biggest challenge is how to provide a scalable high-conversion payment solution without being attacked by fraudsters. Payment is about real-time. Money moves within 3 seconds. It is easy to create a product which earn $1 from a good person who makes $100 transactions. But fraudsters can fool your $100k and cash out in 5 minutes. The you need to earn 10millions from good customers.