PayDock and PayReq are two companies creating disruptive waves in payments, we talk to them both to get their view on just what are the trends when it comes to payments.
Fintech is alive and well in Australia with the estimated value of investment topping $20 billion last year and core to most offerings is the seamless integration of payment.
Andrew Stein, Founder and CEO of Payreq, a company that brings products to market that help billers to get paid on time believes a key issue is consent and identity in payments.
“We continually read in the papers about people paying someone but in fact, they’re paying a fraudulent party. Identity is really important in payments.”
“Obviously as a payer I consent to pay you, the payee, money. Now let’s say the payer wants to stop their payments for example a gym membership. How do I stop that all of a sudden, how do I un-consent? It’s difficult. And then the identity-side is interesting. If I go back to sending a payment to someone, how do I know whom I’m really paying?”
“The scams, they’re everywhere. We have concluded e-mails are a really bad way to prove the identity of the sender.”
Rob Lincolne, Founder and CEO of PayDock, who offers merchants to access and integrate multiple payment services and gateways via one API says:
“At PayDock as long as the two parties agree on what is being exchanged and what the value is, it doesn’t matter if it is Dollars, Qantas points or some Bitcoin. At this point where the two parties come to an agreement, then consent becomes very important about what is it you are agreeing to. And then verifying that these two parties are who they claim to be is also very important.”
There is something Andrew and Rob both agree on- that is everything can and should be easy, everything.
This interview is an extract originally written by Carmen Lincolne --read the full interview visit Paydock.com
Learn more about PayDock: www.paydock.com
Cabcharge Taps Google Pay for eTickets to Ride on Android Mobiles Posted on: 23-11-2018
Corporate travelers can now pay their fares via Google Pay as Cabcharge officially rolled out its Digital Pass on Android.Read More
Preparing for Peak: Tactical Recommendations for Stopping Holiday Season Fraud Posted on: 09-11-2018
Business might be booming for eCommerce merchants, who see increases in holiday spending climbing steadily upwards each year, but with fraud growing nearly twice as fast as sales, merchants need to have their fraud strategy fine-tuned to ensure that..Read More
Visa Unveils New Partners on Tokenization to Increase Payment Security Posted on: 26-10-2018
According to a press release made by Visa, they have 20 new gateway and acquirer partners that have agreed to deploy Visa Token Service for credential-on-file used by merchants. This Visa Tokenization offers another layer of ser, resulting in frictionlessRead More
BPAY Group’s Osko® Requests is Set to be a Business Game Changer Posted on: 24-10-2018
Osko Requests uses the power and speed of the New Payments Platform (NPP) to enable real-time requests for payment to be sent between individuals and businesses.Read More
Subscription commerce booms in Australia as 86% report increases in revenue Posted on: 23-10-2018
The 2018 mCommerce Index released by Paypal Australia states that almost 90% of Australian businesses that adopted a subscription model experienced an increase in their revenue.Read More
6 Reasons to Use Multiple Payment Service Providers Posted on: 20-06-2018
Many merchants choose a single Payment Service Provider and then find themselves at a disadvantage if they can’t dynamically keep up with changing customer preferences. This is one of the many compelling reasons to work with more than one PSP.Read More