Telis Demos
speaker
656 appearances
10 recordings
1 series
first heard Jun 2018
last heard Dec 2024
Telis Demos’s voice in public audio — every appearance, attributed to the second.
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Appearances
Banks bring a tremendous amount of knowledge about individuals and about transactions from their other businesses that they can then bring to bear in the consumer payments realm.
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For example, banks issue credit cards.
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If banks are both the issuer and then also the acquirer, that is the party that accepts the payment, then they can see both sides of the transaction and essentially be able to say, OK, we know everything about this transaction, so therefore we know that it's genuine.
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And what merchants are looking to do is find ways to reduce the fraud rate so that they don't end up on the hook.
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for, you know, owing money that they don't have, but also that they don't end up stopping transactions that might otherwise be genuine and creating friction for the customer.
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So banks bring tons of data, and that's been the rationale behind a lot of recent deals and new ventures in this area.
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There are ways that banks think that they could accelerate the speed of payments, right?
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So, for example, the way that credit cards and debit cards mostly work today, especially credit cards, is that there's an instant transaction where you pay, the merchant is paid, but the actual dollars behind that don't necessarily move right away, right?
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Like you might see in your credit card statement, pending transaction, right?
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And the merchant doesn't actually necessarily get that cash right away.
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They get paid on some delay.
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Depends on each merchant and how they're set up.
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Now, there are new technologies that basically make it possible to move money instantly.
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And so banks are beginning to think about how they can move.
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bring some of those tools to bear to kind of actually move those dollars right away rather than having this kind of delayed movement of money that frustrates both consumers and merchants at times.
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So banks see that as one opportunity for themselves.
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Yeah, ultimately, the banks see they have clients that they handle a lot of business for, right?
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A lot of transactions business for in the what they call the B2B or business to business realm.
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That is, I'm making something.
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Showing 541–560 of 656 · page 28 of 33
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