Page 27 - GS200202

CoverStory

"No matter how fast a payment moves through the net- president and general manager, B2B solutions at Fiserv.
work, it still has to be processed in the back office, and "To meet that need we innovated our existing SnapPay in-
that is what will ultimately decide the speed of faster pay- tegration with SAP solutions to make it easier for clients
ments," Baldwin added. to access payment services, reduce days sales outstanding
and automate back-office processes."
In 2019, BHMI commissioned a report by Mercator that ex-
amines the challenges to financial institutions and their Several Fiserv clients already are benefiting from the inte-
payment processing partners to support real-time pay- gration, Fiserv said in a statement. Among them is Brew-
ments. Challenges include: ster Home Fashions, a global producer and distributor of
home décor. "The real-time integration of SnapPay with
• Building an architecture that enables continuous the SAP solution is enhancing our process efficiency, re-
processing while maintaining batch support; ducing our overall cost of doing business, and simplify-
ing payment card industry compliance," said Daoud Ali,
• Providing for real-time monitoring of transactions executive director of IT at Brewster.
and financial positions;
• Automated workflows for managing transaction Fiserv, which works with seven real-time payment net-
disputes. works around the globe, including RTP, is also looking at
opportunities to support cross-border real-time payments,
Card networks, processors, up their games Blankenship said.

Visa, Mastercard and leading core processors are taking
steps to support the move to real-time payments, which Patti Murphy is senior editor at The Green Sheet and self-described pay-
could have implications for merchant acquirers and their ments maven of the Fourth Estate. Follow her on Twitter @GS_PayMaven.
partners. Both Visa and Mastercard have prod-
ucts – Visa Direct and Mastercard Send – that
push instantaneous payments to bank accounts
and debit card accounts.

Mastercard owns Vocalink, which provides
some of the technological underpinning of We’re More Than an Authorization
TCH's RTP network. Last year Mastercard pur-
chased the real-time payments unit of Denmark- We’re The Best Solution For You and Your Merchants
based Nets Group in a move it said will expand
its infrastructure to support real-time payments
between bank accounts in Europe. Mastercard is
also piloting a solution with PNC Bank, called
Payment on Delivery, that supports real-time
payments via RTP for B2B suppliers.

"Our real-time payment capabilities not only RETAIL/POS DEVELOPERS
connect buyers and sellers to enable payments
to happen in real time, but also provide them eCOMMERCE
with real-time information to drive efficiency,
control, security and transparency on the back-
end," stated Ron Shultz, Mastercard executive
vice president. MOBILE QUICKBOOKS

In February 2020, Fiserv entered into a partner- Plus ePN offers customized, versatile services
ship with SAP, a European software firm that
offers digital payment add-ons. The add-ons to help you support your business
enable credit cards and other digital payment EMV • Level III • Inventory • CDM • QuickBooks • Bill Pay • Recurring Payments
methods subject to Payment Card Industry se-
curity standards to integrate with certified pay- Through our ePN Partnership, ISOs/MSPs will experience:
ment service solutions like SnapPay, an enter- • No fee, lead distribution
prise payment application developed by First • FREE online documentation, development test account, and sample code for
Data Corp., which was acquired last year by experienced developers
Fiserv. • FREE brandable marketing materials through our Reseller Support Center
(800) 296-4810 • eProcessingNetwork.com
"Improving working capital is a top priority for
most businesses," said Suhas Gosavi, senior vice © eProcessing Network, LLC. All Rights Reserved. All trademarks are the property of their respective holders.
27