Remove Cost Structure Remove On-Demand Remove Procedures
article thumbnail

RT2: A strategic transformation for UK payment providers

The Payments Association

Where the previous RTGS operated as a single system requiring complex restart procedures for recovery, RT2 introduces significant architectural improvements. This represents a strategic shift for payment providers, affecting cost structures, risk exposure and increasing competition. Why is it important?

article thumbnail

What is a Payment Processing System and How Does It Work?

Stax

To address evolving customer demands and accept electronic payments, you need a payment processing system. A typical payment processing procedure involves multiple parties, including the merchant, customer, payment processor, payment gateway, issuing bank, acquiring bank, and card networks. billion transactions and $9.76

Process 88
article thumbnail

The Modernization Imperative: Why Financial Services Cannot Afford Legacy System Inertia

Finextra

While modernization carries inherent risks in a heavily regulated environment, the cost of inaction has become demonstrably higher. The Convergence of Modernization Drivers Regulatory Complexity and Compliance Burden Modern financial regulations demand system agility that legacy platforms cannot deliver.

article thumbnail

Flywire CEO: How Higher Ed Must Find The Flexibility To Manage Cash Flow

PYMNTS

“COVID-19 is causing issues both for the cost structure of running an educational system, and on the families who are looking to send their kids off to study,” Massaro said, adding that schools must prepare for an array of scenarios based on possible student enrollment declines or a rise in students unable to make tuition payments.

article thumbnail

How Higher Education Finds The Flexibility To Manage Cash Flow

PYMNTS

“COVID-19 is causing issues both for the cost structure of running an educational system, and on the families who are looking to send their kids off to study,” Massaro said, adding that schools must prepare for an array of scenarios based on possible student enrollment declines or a rise in students unable to make tuition payments.

article thumbnail

Merchant-facing regulation: What merchants need to know in 2025

The Payments Association

These developments will impact merchant compliance, cost structures, customer experience, and operational risk. Key areas of impact include fraud prevention, card fee structures, accessibility standards, stablecoin usage, and the treatment of consumer data in evolving open finance ecosystems. Why is it important?

article thumbnail

How Transforming Treasury Banks Helps Corporates Transform, Too

PYMNTS

The general things everybody wants — transparency, for example, or lower cost structures — are definitely on the map. And then, when everything was upended — and everything went virtual out of necessity — the sentiment echoed across Zoom calls globally: What can, and will — indeed must — change?”. Setting the Stage. Flexibility Is Key.