Page 25 - Pay Magazine s2014

volume 7 • fall 2014
A critical aspect of The Bancorp’s future proofing is ensuring our infrastructure is sound, robust and
adaptable to the continually higher bar the regulators are setting for compliance. Throughout the years, we’ve invested millions
in our infrastructure— from third-party oversight capabilities, to transaction monitoring systems and software, to dedicated people. Recently, however, the regulators have
made it clear that an
even greater commitment is necessary. We’re step- ping up to that challenge with a multimillion dol- lar additional investment that only a few banks have the fiscal strength and the will to make in prepaid. Our goal is meeting regulators’ expecta- tions today and in the future—future-proofing our business for our own benefit, of course, but also for the benefit of our customers and clients.
—Jeremy Kuiper,
Managing Director, The Bancorp Payment Solutions Group
As a technology enabler, we believe future success (for TAS and our clients) is tied to our ability to provide a flexible payments framework from which to innovate and create. Three key building blocks support this foundation: common standards, open architecture and easy integration. Our new Card 3.0 Payments Framework demonstrates this philosophy. It enables program managers to innovate and create new solutions and programs when they need it—
all the key technology building blocks are ready
to deploy. This offers our clients a proven, cost- effective solutions path and helps them future-proof their businesses.
—Ennio Ponzetto,
Contrary to a belief held by some of the largest pay- ments companies in the world, one size doesn’t fit all. Simple processes, such as topping up and withdrawing money from e-wallets, can vary widely based on the commercial infrastructure of a country. The availability of a wide source of bank branches; differences in,
or a lack of, regulations and banking services; and universal access to the Internet create huge variables from country to country.
Providing the flexibility to address the future needs
of consumers and merchants in each country from the standpoint of compliance, security, payments and unique products requires a different global corporate structure than the traditional payments company.
As a result, we’ve changed our business model to work cooperatively with regional payments companies that can assist us in providing specialized services.
—Firoz Patel,
Founder and Global Executive Vice President, Payza
Our product development, ad- ditional services and international expansion all have been driven from customer need. We don’t consider ourselves as primarily
in the payments space. We’re in fashion or restaurants or travel. We’re in whatever business our client is in. Of course there are synergies across sectors that
enable us to develop products and services with a wide breadth of application. There has been a natural progres- sion from gift cards to merchandise return, promotions, promotional loyalty, e-commerce and operational ser- vices, such as card auto-replenishment, call center and fulfillment. Payments are just a mechanism. Our clients are interested in generating more revenue, more cus- tomers—and our approach aligns with those aims.
—Mark Schatz,
General Manager, SVS
U.S. Country Manager, TAS Group
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