Page 8 - GS20601

ReadersSpeak

The value of instant payments "3. Leverage valuable real-time data with ISO 20022:
F ollowing are excerpts from a note on instant pay- enhanced data opportunities, most of today's instant
While instant payments does not inherently provide

payments systems are built using the ISO 20022 data
ments from Lauren Jones of Icon Solutions:
standard. This is due to the extended data-carrying ca-
"Instant payments are the 'new normal'. The last
can offer banks' customers.
decade saw a ramp-up in adoption as regulation, customer pabilities and the added value this messaging standard
expectation and technology dovetailed to create immediate, "4. Deliver convenience for corporates: The combina-
24/7 demand for financial services. "This means that banks tion of instant and enhanced data-carrying capabilities
and payment service providers (PSPs) who rely solely on is extremely attractive to large corporates, and in turn,
speed of payments as a competitive differentiator will greater corporate usage of an instant payment system
struggle to get ahead. The focus is now on leveraging will increase volumes and lower costs.
instant payments rails to deliver value-added services that
can drive a return on investment. Understanding where "5. Embrace new channels: As payments become in-
these opportunities lie, therefore, is crucial. creasingly embedded in our daily lives and interac-
tions, it is inevitable that instant payments will become
"1. Request to Pay for more control: Perhaps the most more ingrained in the social media experience."
valuable new way to leverage instant payment rails is
Request to Pay (R2P). R2P is an umbrella term for vari- Thank you to Lauren for these insignts. For more details,
ous scenarios in which a payee takes the initiative to please visit https://iconsolutions.com/whitepaper/maximising-
request a specific payment from the payer. value-from-instant-payments/
"2. Amplify the power of QR codes: QR code solutions Do you have a perspective to share?
have surged in popularity in recent years as a simple,
low-cost alternative payment method, offering con- We will welcome your ideas on instant payments and other
sumers and merchants more choice at checkout. We are topics at greensheet@greensheet.com.
now seeing various banks and payments industry play-
ers reviewing their strategies to take full advantage.

Get
ACQUISITION & GROWTH CAPITAL Working
Capital!
Loans Up To $5,000,000

FOR BUSINESSES WITH MONTHLY
RECURRING REVENUE (MRR)
Independent Sales Organizations (ISO’s)
Managed Service Providers (MSP’s) YOUR BUSINESS Apply Today!
SaaS, IaaS, PaaS, Cloud LOANS UP to $5,000,000
Independent Software Vendors (ISV’s) Super G Capital 1,000,000
Point of Sale Vendors www.SuperGCapital.com
Insurance Agents and Brokers
FAST & EASY FUNDING Borrow against your MRR! Super G Capital
Flexible Amortization
Non-Dilutive
Senior and Junior Debt Solutions
USE THE FUNDS FOR
Acquisition Hire More Sales Reps
Buyout an existing partner Increase Marketing
Geographic Expansion Purchase A Portfolio
Bridge the Gap between upfront costs Upgrade Equipment CONTACT JON ENGLEKING
and time they receive payment and Technology 800-631-2423 x 112 or
supergcapital.com Jon@SuperGCapital.com