Benamic’s Post

Real time, instant payments benefit you as a consumer (quicker payouts, refunds etc), and also merchants (receive funds sooner meaning capital more readily available). Go 🇨🇭! Wonderful to see instant payment initiatives wing rolled out in more markets. Once we see SEPA Instant more deeply across the Eurozone will mark a gear change for how account to account payments function (see #openbanking). I love the ever evolving payments space!

What will we be talking about at The 2025 SUMMIT? We asked our 2024 speakers to make their predictions. "As Canada steps towards consumer-driven banking, by 2025 I hope we’re focused on an implementation roadmap with multi-tiered accreditation to drive completion and a clear timeline for write access, ensuring that key use cases such as pay-by-bank are available. This will allow Canadian consumers and SMEs to fully benefit from open banking." — Michelle Beyo, CEO & Founder, FINAVATOR INC Have your voice heard by +1800 payment experts at Canada's largest payment event. Apply before October 31 to be considered: https://lnkd.in/eNDPAtME #PaymentsMatter

Pay by Bank is making headlines again. With the Australian government set to ban debit card surcharges by 2026, now is the time for merchants to explore Pay by Bank with Banked :. This move towards eliminating excessive card fees will give businesses and consumers a fairer deal. At Banked, we’re already one step ahead - our Pay by Bank solution offers a no-surcharge, cost-effective payment method that’s ready for this shift. Merchants can reduce costs, streamline operations, and provide their customers with a faster, simpler and more secure experience. Get ahead of the curve and prepare your business for 2026 today. Find out more about the upcoming legislation (link in comments)  #PayByBank #Payments #Innovation #Fintech #OpenBanking

🌐 Discover the Power of Multi-Currency Banking with BANKZ! 💳 Are you tired of hefty currency conversion fees and limited flexibility when managing your finances internationally? Look no further than Bankz's cutting-edge multi-currency accounts and debit card services! Here are the top 5 advantages: 1️⃣ Currency Diversification: Say goodbye to exchange rate worries! With Bankz, you can hold multiple currencies in a single account, mitigating the risks of fluctuating exchange rates and optimizing your financial strategy. 2️⃣ Cost Savings: Keep your hard-earned money where it belongs - in your pocket! By bypassing traditional currency conversion fees, Bankz helps you save big on international transactions, making every penny count. 3️⃣ Convenience at Your Fingertips: Simplify your financial life with seamless access to funds in different currencies. Whether you're traveling abroad or conducting business globally, Bankz's intuitive platform and debit card services ensure you're always in control. 4️⃣ Real-Time Exchange Rates: Transparency is key! With Bankz, you'll enjoy access to real-time exchange rates, ensuring you get the best value for your currency conversions without any hidden surprises. 5️⃣ Global Acceptance: Wherever your journey takes you, Bankz's debit cards are your trusty companions. Accepted worldwide at ATMs, retail outlets, and online merchants, they offer unparalleled flexibility for travelers and businesses alike. Ready to unlock a world of financial possibilities? Join BANKZ today and experience the future of multi-currency banking! 💼💸 #Bankz #MultiCurrency #DebitCard #FinancialFreedom

The banker has no clothes - No longer a one way bet on rising rates!? Major new Substack piece - Part 1 Retail and transaction banking - There is a lot of attention on the increased net interest income earned by leading retail banking networks but transaction banking has seen huge tailwinds from higher interest rates. What happens when interest rates go down? The 5 UK Neobanks/money transfer firms - Revolut, Wise, Monzo, Starling, and OakNorth - generated over £2bn in net interest income last year with more than half of that being added in just one year. The UK domestic banks have been leveraged plays on rising interest rates. BNP Paribas’ acquisition of AXA’s asset management business ticks all the boxes of diversification. Is it time for UK banks to do a deal? If you haven't subscribed to my new Substack the link is below in the comments section with lots of data in this piece.

In a world where digital payment solutions are evolving rapidly, one method stands to make significant waves in 2024. 👉 Pay by Bank. With convenience at its core, #PayByBank (AKA account-to-account payments) is redefining how we think about payments, offering unparalleled security and efficiency. 👀 Find out why 2024 marks a turning point for Pay by Bank and how it could affect your business: https://kont.ly/9250ddfc #InstantEconomy #PaymentInsights #A2APayments

Check out this week’s latest #WeekendReads to get caught up on what happened in #Payments this week. ⬇️ 1. PitchBook Analyst Note: Currency Crossroads: A Cross-Border Payments Deep Dive https://lnkd.in/gSSdEsfQ / PitchBook 2. How Can U.S. Banking Grow Instant Payments Faster? https://lnkd.in/dhqJmmBB / The Financial Brand 3. Breaking Barriers: How FIs Can Leverage Instant Payments https://lnkd.in/dDz9-fSQ / Payments Cards & Mobile 4. Instant Payouts: The Future of Faster, Secure Payments https://lnkd.in/g5Wvcwuv / NY Weekly 5. AppBrilliance Opens Pay-by-Bank Options for Closed-Loop Digital Wallets https://lnkd.in/gXrHqpvZ / PYMNTS

According to this report A2A payments are second only to debit cards for online payments in the regions surveyed. Citizens love Pay by Bank and government are onboard.

Consumers are increasingly seeing #PayByBank as a payment option in online checkouts across Europe. 🤔 But what exactly is it? And how does it relate to #InstantA2APayments? Pay by Bank doesn't refer to specific #payments infrastructure; rather, it denotes a category of payment methods that include Brite's #InstantPayments. To find out more, read out our latest explainer 👉 https://lnkd.in/d9dfzMEB #OpenBanking #A2APayments

Payment methods are evolving rapidly! Data collected by Payments Canada reveals a clear shift away from cash towards digital payments over the past decade. Credit cards have become the preferred choice for transactions, while EFTs have soared in terms of value. #BusinessInsights #IndustryInsights #PaymentTrends