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

If you found this article helpful and would be interested in reading similar articles by our consulting team, please sign up to our email newsletter or download our most recent newsletter at https://www.merchantpricing.com/newsletter-archive.

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