Fintech Finance x Aevi: In-Person Payment Orchestration | The Whys & Hows
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- 3 Minute Read
- Last updated 16/07/2024
At Money20/20 in Amsterdam, Fintech Finance talked to Sarah Koch, our Director of Marketing & Communications, about the importance of payment orchestration.
She delved into the differences between online and in-person payments, the main pain points for merchants and others in the payment value chain, and how Aevi addresses these challenges. She also highlighted what sets Aevi apart.
Transcript Highlights
Why is payments orchestration so important and why aren't people talking about it as much as other big topics today?
It's crazy that people are not talking about in-person payment orchestration more today because it's such an interesting and important topic. In the in-person payment space, we encounter many challenges and complexities. There are regulations, various schemes, and numerous players, which makes orchestration difficult. Orchestration services are designed to help businesses navigate the complexities of the digital global world. They facilitate integration and management of different payment technologies, schemes, methods, payment systems, and channels to create an open, centralized payment ecosystem. This is crucial for the industry. Aevi focuses on making in-person payments as easy as e-commerce payment orchestration.
How do in-person payments differ from the online checkout experience?
Online payments are simple; you just go and buy something, seamlessly connected to the checkout process and choosing your preferred payment method. In-person payments, however, involve physical devices, logistics, and different regulations and schemes, leading to many differences. With in-person payment orchestration, we can unify these aspects and make in-person payments as innovative as online ones. Merchants need to accept alternative payment methods because that's what end customers expect. They experience this seamless process online and want the same in-store.
How is Aevi addressing the main pain points of merchants, and others in the chain, when it comes to payment orchestration?
Aevi not only solves merchants' pain points but also benefits the end customer by creating an optimal customer experience with seamless integrations and payment checkout processes. Our primary clients are financial institutions, ISOs, and ISVs, which serve merchants. We see various benefits our solution provides. For instance, an ISO or ISV with a large network of merchants can switch their host connector seamlessly. Previously, this was complex in the in-person world because devices had to be taken out of service, shipped to the provider, updated, and shipped back, causing business interruptions. With our in-person payment orchestration platform, these updates can be done in the background without business interruptions or additional logistics costs. It's smooth and easy. Another significant benefit is that our platform is future-ready. Whatever new payment technology emerges, you can integrate it into your estate, keeping you competitive and future-proof. This is one of the greatest benefits for our clients.
What sets Aevi apart from the competition?
Aevi stands out as the only independent in-person payment orchestrator in the field. Our overarching mission is setting payments free. What does that mean? Freedom. Freedom means having the choice and flexibility to work with any partner, acquirer or host connector you prefer. It also means showcasing your brand as you wish. Aevi supports you in this by providing the solution while you shine in front of your customers with your brand. We take away the pain of in-person payments, so you shine.
What's the best thing about Money20/20?
For me, Money20/20 is the main event of the year, both in Amsterdam and Las Vegas. We highly value being at the show and meeting industry professionals. The most important aspect for us is the personal interactions, which are crucial. We're looking forward to participating and engaging with everyone.
