Viewpoints

HSBC’s Brian McKenney, Compass Plus’ Paul Chandler and host, Doug Mackenzie, discuss the future of payments. Together, they diagnose some of the problems banks and payment platforms faced earlier in the pandemic and look at how the industry learnt from these.

2020 really has been the year that no one expected. Whilst the COVID-19 pandemic swept the globe, there were other topics that kept us talking, distracting us as much as possible from the global lockdown.

As 2020 comes to a close, we asked our payments professionals worldwide about the changes they have seen this year to the payments industry, and how they envision these changes might shape the future.

In this edition of our Podbyte series we discuss super apps. From their success in the East and whether this can be replicated in the West, Kirsty Berry, Head of Global Marketing, and Bethan Cowper, AVP Market Development and Business Support, also weigh up the benefits of onboarding with a successful payments super app, versus developing your own.

Since the first appearance of electronic payments and subsequent birth of the payments industry, we have seen a number of monumental shifts driven by the requirements that each new ‘era’ has presented.

Can a payments platform born in the 1990s truly meet your business needs? And, more importantly, for how long? Compass Plus and Consult Hyperion joined forces to address this in an insightful webinar, which brings together experts from each company to explore the differences between payment platforms born in the 1990s and those developed and launched in the 2010s, and how the latter can transform your business, providing a platform that will meet the needs of today's market and tomorrow's unknown.

What does it take to become a successful payments super app, and consumers' 'go-to' app?

Scott Lane, Business Development Director at MobiCash, discusses the difference between a more simplistic mobile wallet and a payments super app, and what it takes to build a successful payments super app that will be the 'go to' app of choice.

Anatoly Kaptsan, VP & Chief R&D Officer at Compass Plus Technologies discusses the concept of omnichannel banking. Omnichannel is something that the industry has been discussing for years, but, particularly in banking, a true omnichannel experience is still a rare, almost mythical phenomenon.

We asked Bethan Cowper, AVP, Market Development & Business Support at Compass Plus, to give an insight into why we commissioned an in depth report into our open development payments platform, TranzAxis, with internationally renowned payments specialists, PayX.