Henrik Hodam’s Post

Are you using BIN data to optimize payment routing? Jacob Burcham does a great job explaining how this data can be used to optimize routing logic and increase auth rates! #IXOPAY #BIN #Payments #Approved #TheMoreYouKnow

Let's Get Interactive! What's Your Take? Here's a question for you: What's your biggest misconception about electronic check payments? Drop your thoughts in the comments below and let's debunk those myths together! 1. Misconception: Electronic Checks Are Not Secure Reality: Electronic checks are highly secure, employing encryption and authentication processes to safeguard your transactions. 2. Misconception: Electronic Checks Take Longer to Process Reality: While slightly longer than instant methods, electronic checks still offer swift processing, often within hours or minutes. Way faster than the traditional check.... 3. Misconception: Electronic Checks Are Complicated to Use Reality: Far from it! With user-friendly interfaces and intuitive systems, initiating electronic check payments is as easy as a few clicks. Also comes with different acceptance Sources like Virtual Terminal, Invoice generation, API Integration (plug-ins) for website. 4. Misconception: Electronic Checks Are Prone to Errors Reality: Built-in validation checks and review mechanisms minimize the risk of errors, ensuring accuracy throughout the transaction. 5. Misconception: Electronic Checks Are Outdated Reality: Electronic checks are anything but outdated. They offer a secure, convenient, and cost-effective alternative to traditional paper checks in today’s digital economy. #paymentsolutions #eCheckaccount #secure #eCheck #payment #verificationtool

🇪🇺 Verification of Payee rulebook digest: what to pay attention to 👀 In less than a year, European banks, PIs and EMIs will have to support Verification of Payee. Yesterday, the EPC published its highly anticipated VOP rulebook: a set of rules, practices and standards to achieve interoperability for the provision and operation of VOP. We analysed this rulebook for you to summarise how it will work, and highlight the elements to pay attention to, including: ▶️ 5-second response timeout ▶️ Data required to send and respond to VOP requests ▶️ How to calculate VOP responses ▶️ Processing bulk VOP requests Find our full VOP rulebook digest here 👉 https://lnkd.in/eZzG32MW

You’ve heard of payment gateways and payment processors, but what do these terms mean? Learn about the differences to make sure you choose the right solution for your business. https://lnkd.in/gfvkdWk2 #paymentgateway #paymentprocessor

🚀VoP (Verification of Payee) and the challenges of Instant Payment From January 2025, all European payment services will be obliged to receive instant transfers. From April 2027, all European payment systems will have to be able to send and receive instant transfers with control over the beneficiaries. This change in the financial landscape should pose several challenges for PSPs, banks, and businesses. In this white paper : ➡️ Discover the keys to compliance with the IPR (Instant Payment Regulation) ➡️ Understand the challenges of implementing a VoP solution for PSPs (Payment Service Providers) and their users ➡️ Find out about IPR's limitations and what solutions must be implemented. 👉To find out more, download the white paper in comments

In the series of publishing on 'Fundamentals of Payments' .. here is the second article about the '#MessageFormats' .. a tricky subject due to its complexity and variability among the #payment #systems. I covered the different #financialInstruction formats at global and regional level. Read --> Subscribe for more to come .. Next one in list is detailing of #ISO20022 .. Swift Alaa Al Rousan,MBA comments are most welcome. https://lnkd.in/gWqTB9sN

Payment processing is an integral part of all 💳 digital transactions 💸 Find out each detail of it quickly right here 👉 https://lnkd.in/gT75D8HB 👈 #paymentprocessing #paymentprocessingindia #paymentprocessingtips #paymentprocessor #paymentprocess #paymentprocessors

According to Konsentus, there were 126 licensed Third-Party Providers (TPPs) authorized to offer services in Czechia in Q4 2023 based on PSD2 regulations. While here at Česká Spořitelna we didn't see more then 30 active TPPs (monthly) throughout 2023, the overall number is experiencing gradual growth, with 1-2 new active providers joining each quarter. Are other banks in Czechia seeing a similar trend? https://lnkd.in/e8yWqTEq

Great to see that instant payments is going to see wider adoption in Europe, but I do feel the implementation timeline is going to be a challenge for many of the financial institutions involved.   What do others think?   https://lnkd.in/ebXm_eiS   #payments #innovation #instantpayments

Read this insightful blog by my colleague Henrik Hodam!