Video: Payments segment prioritising fraud prevention and New Payments Architecture
The payments segment is frequently and rapidly changing, from growing fraud prevalence, to the proposed New Payments Architecture, all within a dynamic and innovation-driven landscape. We spoke with two industry leaders, Myles Stephenson, CEO of Modulr and Mark Hoban, Chair of Pay.UK, about the trends, and future of payments.
Modulr has enjoyed meteoric success, having been named the UK’s second fastest growing tech company by Dun & Bradstreet’s Accelerate 50. Offering API payments infrastructure, their tech enables customers to unlock efficient automation and embedded payments.The company has secured strategic partnerships with leading fintechs, Ripple and Revolut. Focused on expansion, Modulr has been granted Electronic Money Institution (EMI) licences from De Nederlandsche Bank (DNB) and the Central Bank of Ireland.
The leading retail payments authority in the UK, Pay.UK is focused on enabling a dynamic economy and payments ecosystem, via delivery of infrastructure and standards. The New Payments Architecture is their latest initiative, focused on modernising the UK’s payments infrastructure to allow increased, faster payments.
CxO Disruptors host Sandeep Saujani and the panel covered a lot of ground in part 2 of their conversation. Fraud in the context of identification and prevention is a priority for the industry, as well as increased collaboration, to reduce spiralling losses. On the flipside, we have a thriving payments segment, where innovation flourishes, thanks to dynamic regulatory policies.
Catch the highlights below:
Fraud identification and prevention – 00’19
The New Payments Architecture – 3’38
UK’s regulatory landscape – 5’57
Competition and innovation – 7’50
Future of payments – 09’00
Watch part 1 here.