Innovation in payments: how to ease the instant payments onboarding and beyond

THE 2021 PAYMENTS CANADA SUMMIT

SPEAKERS
Andrea Bacioccola - Global Service Line Payments Director - SIA
Jeff Mulholland - Partner, Payments Centre Canada - IBM
Daniele Savarè - Director, Innovation & Business Solutions - SIA

SESSION DESCRIPTION
Over the last decade, instant payment schemes have been introduced around the world with the objective to make payments immediate and always available. This new way of paying has given the possibility to payment service providers (PSPs) to revolutionise the user experience of their customers by offering 24/7 payment solutions coupled with new value-added services. To offer such solutions, PSPs are faced with the strategic decision of how to modernize their core payment systems which were not designed for continuous operation.

Since the introduction in 2017 of the SEPA Instant Credit Scheme, SIA has played a key role in supporting financial institutions and PSPs to modernize their core systems. The session will reflect on the latest innovations in payments, what challenges and opportunities arise when instant payments are deployed and applications transition moves from a batch paradigm to a real-time one. SIA will share its experience in helping its customers and discuss how to ease the transition to real-time services. IBM team will join this session to share the strengths of SIA-IBM partnership in delivering this crucial transition.

Following the trend of innovation in the payment sector, it is worthy introducing Digital Currency as the future and somehow the evolution of money concept, by far exploded worldwide. The session will continue with an insight of it in order to discover the new front running of the payment reshape.

SIA will be thrilled to share its own proposal on technical solutions designed to underpin the digital currency frame and unveil how it might be a new way to pay.