Money20/20 USA 2023 saw the leading lights of financial services come together in Las Vegas to connect and create the future of money.
FinTech Magazine caught up with Nicole Asling, Eric Queathem and Nabil Manji to discuss Worldpay from FIS‘ latest innovations and its activities in the embedded finance space.
Worldpay from FIS experts talk finance trends
Asked about Worldpay from FIS’ recent products, Asling, VP Enterprise Partners, lifts the lid on Revenue Boost, a payment optimisation solution designed to lower costs, increase approval rates and improve the customer’s checkout experience.
“Revenue Boost was borne out of some of the complexity for merchants, whether that was navigating network changes or the constantly evolving option of payments available,” she explains.
“Where the real gold comes from is marrying that with our payment optimisation experts, understanding what the merchant profile looks like and then tailoring features to make sure they can really accelerate the best revenue outcomes.”
Opening up on the challenges facing embedded finance activities, Queathem adds: “Very few players have been able to really generate significant revenue from embedded finance today.
“US banking looks quite different to the rest of the world and it’s quite complicated to move money in the US relative to other markets, so we want to be able to provide as part of a broader set of financial services off the back of acquiring and some of our other services. But, I would say we’re being a little more cautious around what we think the size of the prize is.”
Manji, on the subject of CBDCs, said Worldpay’s role would be similar to any other payment method or currency it supports.
“We try to be payment method agnostic and support the method of payment and currencies our merchants want to work with,” he continues.
“As CBDCs role out in the market we work in, I’m sure we’re going to be supporting them and enabling them for our clients.”
To hear more insights, simply click on the video link at the top of this story.
Want to see more from Money20/20 USA 2023? Stay tuned to our website for more content, which will be rolled out in the coming days.
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