The Paypers x Aevi Interview: Shaping the future of payments
In this interview with the Paypers at Money 20/20, hosted in Amsterdam, Our CPO Miroslav Pekárek emphasized that emerging technologies, big data, and B2B2C integration are shaping the future of payments. Prioritizing the (digital) experience, seamless payments, and leveraging advancements like data, AI, and cloud tech foster trust and understanding in ongoing innovation.
Mirela: Hi payment enthusiasts, it’s Mirela Ciobanu with the papers and I’m about to meet Miroslav Pekárek Chief Product Officer at Aevi to learn how product innovation is addressing payment and fintech challenges.
Miroslav: Today we are using several digital payments which we like to use more and more in the in the way that we like to somehow introduce on the market not only the card payment. And this is almost the situation. Where we see everywhere that the people like to pay by card, by wallet, mobile, or open banking. And today, the most difficult challenges is that we need to somehow transfer our business to the new era. It means using more and more frictionless transactions, more processing power from computing and for biggest challenges is that we are having a lot of big customers with a big legacy system fully integrated to the POS which is sometimes difficult to change.
Mirela: How can we address these challenges with product innovation in the business to business area?
Miroslav: Everything is in the cloud today. It means that we can use new technologies, we can somehow make it more easy components inside our gateway that we can easily adapt to the new features, new functions and as well to easily onboard new customers.
Mirela: You mentioned cloud, I’m thinking maybe other technologies out there so what role do emerging technologies play in the future of payments? How can solutions that tap into big data enable business growth?
Miroslav: For us the big data is very big point because we are using data to protect the customer including against the fraud, and the computing power of the computers and the servers are really growing. It means that we can capture more and more data for one transaction, for example. But in the other side, it costs us a lot of money. It means that we like to use the minimum data, but still protect the customers or consumers against fraud. It means we are using more artificial intelligent modules inside to use less data, but more power, more fun.
Mirela: Now we talk mostly about B2B. Let’s switch the conversation to end consumers. So how can we connect business to business product innovation with business to business to consumer approach?
Miroslav: We are doing B2B mainly because our customers are acquirers, processors, as well as big retail chains and petrol companies. Thinking about B2B2C, we need to completely change our way of the thinking because we need to work more with the consumer data. But we are not using the consumer data. We are processing the card payments and card present payments where we can see more and more future that as well we can go to the consumers but today it’s not our game, it’s not our goal to go to the ‘C’ level.