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Meetup #1 Fundamentals of Payments

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Meetup #1 Fundamentals of Payments

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The presentation from our first Meetup "Fundamentals of Payments". The ideas and key terminology to get the hang of the payment world. For more information visit: https://www.meetup.com/Bagel-Payments

The presentation from our first Meetup "Fundamentals of Payments". The ideas and key terminology to get the hang of the payment world. For more information visit: https://www.meetup.com/Bagel-Payments

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Meetup #1 Fundamentals of Payments

  1. 1. Bagel & Payments Meetup #1: Fundamentals of Payments Zooz-Guest TLV_2019!
  2. 2. The Concept Bagel & Payments Customers The series of meetups we offer aim to demystify various aspects of the payments world and are therefore suitable for individuals, companies, and start-ups, who wish to learn more, consult with experts and take key ideas and action items to implement into their own payments stack or business
  3. 3. Agenda Fundamentals of Payments 1. It’s all about Conversion (and User experience) 2. Intro to Payments 3. Main players 4. Transaction flow 5. Evolving Ecosystem 6. Israel’s Ecosystem 7. APMs 8. Questions
  4. 4. It’s all about Conversion 01
  5. 5. It’s all about Conversion Customers 1,000 Users enter a website. How many will finish the session as customers?
  6. 6. It’s all about Conversion Homepage Category Listing Search, Layered Navigation Product Page Shopping Cart 100% (1,000 users) 90% (900 users) 80% (800 users) 60% (600 users) 30% (300 users) Homepage Category Listing Search, Layered Navigation Product Page Shopping Cart
  7. 7. It’s all about Conversion Homepage Category Listing Search, Layered Navigation Product Page Shopping Cart Checkout 100% (1,000 users) 90% (900 users) 80% (800 users) 60% (600 users) 30% (300 users) 10% (100 users)
  8. 8. It’s all about Conversion Homepage Category Listing Search, Layered Navigation Product Page Shopping Cart Checkout Customers 100% (1,000 users) 90% (900 users) 80% (800 users) 60% (600 users) 30% (300 users) 10% (100 users) 2% (2 users)
  9. 9. 1. Click on “Buy now” 2. Enter Payment page 3. Fill-in the details 4. Click “Pay” 5. Transaction Approved/Pending/Declined 6. If Failed, try a different APM? From Checkout to Customer
  10. 10. So, how can we increase conversions?
  11. 11. Intro to Payments 02
  12. 12. Payment Methods Around The World
  13. 13. The History of Payments Cryptocurrencies 2018 Bankers 15th century Charge Cards 40’s Credit Cards 60’s Mobile & M-payments Late 90’s First Coins 700-500 BC Cheques 800 Barter
  14. 14. Cards Schemes ecosystem Who are the main players?03
  15. 15. Credit Cards Key Players Merchants Issuer Acquirer Payments Networks Card Holders
  16. 16. Transaction Flow 04
  17. 17. Merchants Issuer Acquirer Payments Networks Card Holders Merchant submits $100 authorization 1 $100
  18. 18. Merchants Issuer Acquirer Payments Networks Card Holders Acquirer submits $100 authorization to Visa 2 $100
  19. 19. Merchants Issuer Acquirer Payments Networks Card Holders Visa submits $100 authorization to issuer 3 $100
  20. 20. Merchants Issuer Acquirer Payments Networks Card Holders Issuer checks buyer’s ability to pay $100 4 $100
  21. 21. Merchants Issuer Acquirer Payments Networks Card Holders Issuer returns a response for $100 authorization to Visa 5 $100
  22. 22. Merchants Issuer Acquirer Payments Networks Card Holders Visa sends the response of the $100 authorization to the acquirer 6 $100
  23. 23. Merchants Issuer Acquirer Payments Networks Card Holders Acquirer sends the response of the $100 authorization to the merchant 7 $100
  24. 24. Merchants Issuer Acquirer Payments Networks Card Holders Merchant submits $100 transaction 8 $100
  25. 25. Merchants Issuer Acquirer Payments Networks Card Holders Acquirer submits $100 transaction to Visa 9 $100
  26. 26. Merchants Issuer Acquirer Payments Networks Card Holders Visa submits $100 transaction to issuer10 $100
  27. 27. Merchants Issuer Acquirer Payments Networks Card Holders Issuer bills buyer $10011 $100
  28. 28. Merchants Issuer Acquirer Payments Networks Card Holders Buyer pays issuer $100 (in his billing cycle)12 $100
  29. 29. Merchants Issuer Acquirer Payments Networks Card Holders $98.35 Issuer pays Visa $98.35 (Interchange fee $1.65)13 $1.65
  30. 30. $1.65 Merchants Issuer Acquirer Payments Networks Card Holders Visa credits the acquirer $98.22 (Visa processing fee $0.13)14 $98.22 $0.13
  31. 31. $0.13 Merchants Issuer Acquirer Payments Networks Card Holders Acquirer pays merchant $96.5 (Merchant discount fee - $1.8) in the billing cycle.15 $96.42 $1.65 $1.8
  32. 32. Evolving Ecosystem 05
  33. 33. Evolving eCommerce Ecosystem Card Holders Merchants Issuer Acquirer Payments Networks
  34. 34. Merchants Acquirer Payment Gateway Payment Facilitator / iPSP Fraud DetectionEvolving eCommerce Ecosystem
  35. 35. Payments Networks Alternative Payment Methods Evolving eCommerce Ecosystem
  36. 36. Merchant Payment Processing Journey Bank Approval Agreement Integration First Live Transaction MAF KYCF2F Meeting Merchant Underwriting
  37. 37. Top Payments Challenges “Payment-Related Challenges Ranked” MRC and CyberSource’s Payment Management Strategies of Forward-Thinking Global Merchants 2018 Global Payments Survey Biggest Payments Challenges Facing Enterprises in 2018 from “The Public Cloud Payments Imperative” by Jordan McKee,
  38. 38. Israel’s Ecosystem 06
  39. 39. Israel’s Ecosystem Card Holders Merchants Issuer Acquirer Payments Networks
  40. 40. Credit Card Networks Israel Acquirers Market Share TheMarker, 2018 116 Isracard 68.7 Cal 61.4 MAX (LeumiCard) Billions of NIS January to September 2018, not including Intl and eCommerce
  41. 41. Israel ecosystem
  42. 42. Credit Card Networks Israel Payment Methods
  43. 43. Credit Card Networks Global Market Share Visa 56%MasterCard 26% American Express 3% UnionPay 13% JCB 1% Diners / Discover 1%
  44. 44. APMs 07
  45. 45. APMs World Wide United Kingdom Belgium The Netherlands Spain Italy Germany France Poland Debit card or credit card Invoice Direct payment through the bank Paypal or similar Cash on delivery Payment by installments Don’t know
  46. 46. EWallets & Alternative Payments Methods APM ● Alternative Payments Methods: A non‐traditional payment method (i.e. not credit card or cash) such as eWallets, PayPal, phone and mobile payments or bank transfers ● ZOOZ supports multiple eWallets and APMs, and their payment flows often includes a redirect to their proprietary payment page
  47. 47. EWallets ● Main Players – ● Digital Wallet: (also eWallet or Mobile Wallet) The software that provides the equivalent of a wallet for electronic commerce, storage several payment methods ● Popular all around the world
  48. 48. Invoice Payments ● Main Players – ● Main principle – the invoice provider pays the merchant first and takes on all the risk of fraud and payment defaults; ”Buy now, pay later”. Customers usually pay two weeks later ● Means of detecting fraud and predicting who's going to pay their bills ● Invoice payments are very popular in Europe, especially in: Germany, Scandinavia, Austria, Switzerland and Netherlands
  49. 49. Bank Transfer ● Main Players – ● Method of electronic funds transfer from one person or entity to another. A wire transfer can be made from one bank account to another bank account or through a transfer of cash at a cash office ● Bank transfer are popular all around the world especially in: North Europe and USA
  50. 50. Questions?
  51. 51. Thank You!
  52. 52. Key Terms #1 ● Interchange Fees: Fees paid by the acquirer to the issuer to compensate for transaction‐related costs. ● Micropayment: A payment of under $20. These payments are particularly popular for the sale of information and content online. ● Point of Sale (POS): The terminal where the payment takes place (credit card swiping infrastructure). An mPOS is a mobile point of sale, referring to infrastructure that attaches to a mobile device to accept credit card payments. ● Settlement: The process of transferring funds for sales and credits between acquirer and issuers, including the final debiting of a cardholder’s account and the crediting of a merchant’s account.
  53. 53. Key Terms #2 ● Chargeback: A procedure whereby a cardholder or the cardholder’s bank disputes transactions to payment cards. A disputed payment card transaction is returned to the acquirer/ISO/MSP for reimbursement to the cardholder’s account. ● Card Not Present (CNP): is a payment card transaction made where the cardholder does not or cannot physically present the card for a merchant's visual examination at the time that an order is given and payment effected, such as for mail-order transactions by mail or fax, or over the telephone or Internet. ● Cross-Border Payments: Payments made between accounts in different countries, from the payment system of the country of origin through a gateway operator to the payment system of the country of receipt.
  54. 54. Key Terms #3 ● Recurring Billing: A transaction for which a cardholder provides permission, in either written or electronic format, to a merchant to charge his/her account number periodically for recurring goods or services. ● Shopping Cart Abandonment: when shoppers put items in their online shopping carts, but then leave before completing the purchase.

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