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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WSJ Your Money Briefing · Citigroup Launches New Digital Payments Unit · 27 Mar 2019 podcast

I have suppliers that sell me parts. voice-verified

I need to pay them with wires or cross-border transfers. voice-verified

I'm receiving payments from retailers, right? voice-verified

I'm making widgets. voice-verified

They're being sold through a retailer. voice-verified

How does the retailer pay me? voice-verified

Where do I keep my money? voice-verified

All those things are what banks do for large companies, including a lot of retailers and merchants. voice-verified

And they're looking to extend that relationship now into a new realm. voice-verified

Some banks have already been there for a long time. voice-verified

J.P. voice-verified

Morgan has had an acquiring and merchant payments business that they've worked with big companies on. voice-verified

for a while but they've been introducing all kinds of new ideas into that for example chase pay which is a way for chase not just to handle the transaction but actually give the consumer an app that would allow them to pay city group now city group has been the dominant player in those kind of business to business payments and transactions for many many years they do it globally and voice-verified

Now they're saying, okay, we want to be in an additional part of that chain, which is the place in which the merchant touches the consumer. voice-verified

And so they're seeing an opportunity to, again, leverage their sort of global nature to be able to do that for companies that are touching consumers in many different parts of the world all at the same time. voice-verified

And banks are also seeing opportunities to take back some territory from some of the technology companies that have emerged over the last few years, like Adyen and Stripe, to help companies do payments more seamlessly, more globally, and things like that. voice-verified

But those technology companies are fierce, and they are well-funded, and they have a lot of voice-verified

resources to continue to innovate and so banks will have to find ways to keep up with them either by offering customers a better sort of deal right like okay maybe we don't have the best technology in the world but we can do it for you kind of as a loss leader for other services voice-verified

or they can say, you know what, we have so much money, we can actually invest in all the latest and greatest technology as well, and we can offer you something that those technology companies maybe can't, which is like a complete banking relationship. voice-verified

So it's going to be really interesting to see how that landscape evolves over the next few years. voice-verified

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