Dmitrijus Apockinas blog

Let’s have a look at the recent trends in electronic commerce from the perspective of both the acquirer and the merchant. Why is this important? Following trends and implementing the know-how of the industry allows acquirers to tap into new revenue streams, retain existing merchants, gain new market share and maximize the returns. From the e-commerce merchant perspective, following trends allows them to reduce their costs, increase conversion, increase sales, and improve operations.  There are several important trends that have emerged recently, and will continue to develop in 2019-2020, that are affecting both the acquirer and the e-commerce merchant:  Acquirers are actively tapping into transactional banking services This trend has emerged on the liberalization of the EU banking and payments market, following introduction of PSD2 new opportunities arose for payment service providers. The notion of open banking changed the attitude of banks towards other auth...

Recently Finextra.com revealed the news that Visa and Mastercard are nearing a deal with the European Commission, under which the interchange fees, EU merchants are paying on transactions, involving cards issued outside of the region, will be reduced by at least 40%. Why this news is important to the merchants in European Union?  One of most significant components of card acceptance costs is the interchange fee, which in recent years became regulated in various regions. In this post I’ll be discussing what is the interchange fee, how it varies in different regions, what are the problems associated with it, and what are current initiatives to reduce it.   What is the interchange fee? In the payment card industry, interchange fee stands for the money transferred from the acquiring financial institution (acquirer - which accepts a payment with a card) to the issuing financial institution (issuer - which issues the payment card to the cardholder) for each purchase tra...

Question: Can you provide us with a few insights related to your company and PayAlly solution? How do you stand out from hundreds of other PSP and what is your value proposition to the market?  An average SME selling goods or services over internet is using from 5 to 10 different service providers in its operations, for example: a merchant account provider, ecommerce gateway, card provider, fraud and risk management provider, shopping cart CMS, currency exchange house, bank, etc. In many cases, this implies the usage of 5-10 different web portals that are not integrated in any way, and that increases operational overheads and probability of mistakes.  PayAlly platform is set to create an integrated payments ecosystem where we combine our proprietary and market technology to provide payments acceptance, distribution and day-to-day banking in one, fully integrated platform. Coupled with productivity applications such as electronic invoicing, accounting module, suppl...