Stephany Kirkpatrick

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126 appearances 1 recordings 1 series first heard Dec 2024 last heard Dec 2024

Stephany Kirkpatrick’s voice in public audio — every appearance, attributed to the second.

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Off the Rails from the U.S. Faster Payments Council - FPC · 12 Dec 2024 Stephany Kirkpatrick and Dean Nolan on business to business faster payments · 12 Dec 2024 podcast

And so in order to really benefit from having faster payments, if we can't tap into that part of the market, we're really missing the biggest, by far, percentage of payment opportunity that could be 24-7, 365, with increased transparency, with data on the ISO messaging layer and sort of all these benefits.

To put that in context, that's about six times bigger than Visa's total global business was last year for credit card processing.

So it just, it's a huge opportunity.

And while I think there are going to continue to be operational changes,

and risk based things that need to evolve with the system, Dean and I, as partners leading the work group are very indexed on making sure that we don't just educate, but we really provide tools so that folks who want to bring this up as a rail as a capability as a use case in our business, have all the right tools from us to do that.

I think you see a lot of this challenge in the way that ACH works, which is that most people would prefer to debit a given account number when the payables are due, but the business would prefer to send a positive pay push payment.

So you constantly have the friction between supplier and buyer and the timing of AP.

This aligns essentially both of those universes.

So one, it takes out, I think, operational overheads.

And two, it inserts certainty and control, which is sort of the North Star for every business I've ever worked with.

That said, I didn't read any fine print that suggested that the $10 million payment limit applies to RFP.

So if it does, that's very interesting.

But I suspect that request for pay will be a follow on in terms of size and amount, given that it's still nascent in the market today.

I just say from lived experience, it's hard to send wires unless you have a corporate treasury account, which we of course have it.

Or small businesses often have the same sort of relative products that consumer and retail bank accounts have.

And I don't know about the rest of you all,

Even my tier one banks make it darn hard to send a wire, let alone a standalone RTP.

So I do think that it's going to be on a bank by bank basis and probably going to center more around large corporates initially than the SMB market.

VIXX bigger than Visa's volumes globally last year, I'm buying.

E2B is where it's at.

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