www.pymnts.com
Open in
urlscan Pro
192.124.249.10
Public Scan
Submitted URL: http://link.newsletter.meltwater.com/ls/click?upn=ZZyjexhbs3VsyAbJhzMg0zlfB3ae2ESwRl6sFH-2Fkut7DplEPyKzbDtlXz3qVXjnozTdOuFBDIPgVQUdOt...
Effective URL: https://www.pymnts.com/news/payment-methods/2022/product-development-automation-collaboration-boost-payments-innovation/
Submission: On March 03 via api from US — Scanned from DE
Effective URL: https://www.pymnts.com/news/payment-methods/2022/product-development-automation-collaboration-boost-payments-innovation/
Submission: On March 03 via api from US — Scanned from DE
Form analysis 2 forms found in the DOM
GET https://www.pymnts.com//
<form method="get" id="searchform" action="https://www.pymnts.com//">
<input type="text" name="s" id="s" value="Type search term and press enter" onfocus="if (this.value == "Type search term and press enter") { this.value = ""; }"
onblur="if (this.value == "") { this.value = "Type search term and press enter"; }" autocomplete="off">
<input type="hidden" id="searchsubmit" value="Search">
</form>POST https://static.mailerlite.com/webforms/submit/l9c2d6
<form class="ml-block-form" action="https://static.mailerlite.com/webforms/submit/l9c2d6" data-code="l9c2d6" method="post" target="_blank">
<div class="ml-form-formContent">
<div class="ml-form-fieldRow ml-last-item">
<div class="ml-field-group ml-field-email ml-validate-email ml-validate-required">
<input aria-label="email" aria-required="true" type="email" class="form-control" data-inputmask="" name="fields[email]" placeholder="Email" autocomplete="email" aria-invalid="false">
</div>
</div>
</div>
<div class="ml-form-interestGroupsRow ml-block-groups ml-validate-required">
<div class="ml-form-interestGroupsRowCheckbox group" style="">
<label> <input type="checkbox" name="groups[]" value="106012252" aria-invalid="false">
<div class="label-description">Connected Economy</div>
</label>
</div>
<div class="ml-form-interestGroupsRowCheckbox group" style="">
<label> <input type="checkbox" name="groups[]" value="106707556" aria-invalid="false">
<div class="label-description">B2B Payments</div>
</label>
</div>
<div class="ml-form-interestGroupsRowCheckbox group" style="">
<label> <input type="checkbox" name="groups[]" value="106617913" aria-invalid="false">
<div class="label-description">Cryptocurrency</div>
</label>
</div>
<div class="ml-form-interestGroupsRowCheckbox group" style="">
<label> <input type="checkbox" name="groups[]" value="106617910" aria-invalid="false">
<div class="label-description">Grocery Innovation</div>
</label>
</div>
<div class="ml-form-interestGroupsRowCheckbox group" style="">
<label> <input type="checkbox" name="groups[]" value="106617916" aria-invalid="false">
<div class="label-description">Healthcare Payments</div>
</label>
</div>
<div class="ml-form-interestGroupsRowCheckbox group" style="">
<label> <input type="checkbox" name="groups[]" value="106617922" aria-invalid="false">
<div class="label-description">Mobile Wallets</div>
</label>
</div>
<div class="ml-form-interestGroupsRowCheckbox group" style="">
<label> <input type="checkbox" name="groups[]" value="106707550" aria-invalid="false">
<div class="label-description">Payments Innovation</div>
</label>
</div>
<div class="ml-form-interestGroupsRowCheckbox group" style="">
<label> <input type="checkbox" name="groups[]" value="110285660" aria-invalid="false">
<div class="label-description">PYMNTS EMEA</div>
</label>
</div>
<div class="ml-form-interestGroupsRowCheckbox group" style="">
<label> <input type="checkbox" name="groups[]" value="106617901" aria-invalid="false">
<div class="label-description">Restaurant Tech</div>
</label>
</div>
<div class="ml-form-interestGroupsRowCheckbox group" style="">
<label> <input type="checkbox" name="groups[]" value="106707547" aria-invalid="false">
<div class="label-description">Retail/DTC Innovation</div>
</label>
</div>
<div class="ml-form-interestGroupsRowCheckbox group" style="">
<label> <input type="checkbox" name="groups[]" value="106617925" aria-invalid="false">
<div class="label-description">Small Business Innovation</div>
</label>
</div>
<div class="ml-form-interestGroupsRowCheckbox group" style="">
<label> <input type="checkbox" name="groups[]" value="106617889" aria-invalid="false">
<div class="label-description">SPACS/IPOs</div>
</label>
</div>
<div class="ml-form-interestGroupsRowCheckbox last-group" style="">
<label> <input type="checkbox" name="groups[]" value="110285666" aria-invalid="false">
<div class="label-description">TechREG™</div>
</label>
</div>
</div>
<input type="hidden" name="ml-submit" value="1" aria-invalid="false">
<div class="ml-form-embedSubmit">
<button type="submit" class="primary">Subscribe</button>
<button disabled="disabled" style="display:none" type="button" class="loading">
<div class="ml-form-embedSubmitLoad"></div> <span class="sr-only">Loading...</span>
</button>
</div>
<input type="hidden" name="anticsrf" value="true" aria-invalid="false">
</form>Text Content
Join our live show Streaming Live
*
*
*
*
*
*
* Today's News
* Opinion
* B2B
* Connected Economy
* PYMNTS DATA
* Reports
* CE100 INDEX
* PYMNTS TV
* News & Trends
* AI
* Buy Now Pay Later
* B2B Payments
* Banking
* Connected Economy
* Cloud
* Crypto
* Cross-Border Payments
* Digital Consumer
* Emea
* Gig Economy
* Grocery and Pharmacy
* Healthcare Payments
* Insurtech
* Markets
* SMB
* Subscription Commerce
* TechREG™
* Travel
* Real-Time Payments
* Restaurant
* Retail
* Subscribe
Sections
* Today
* OPINION
* B2B
* Connected Economy
* PYMNTS DATA
* REPORTS
* CE100 INDEX
* PYMNTS TV
* News & Trends
* Row One
* AI
* Buy Now Pay Later
* B2B Payments
* Banking
* Row Two
* Connected Economy
* Cloud
* Crypto
* Cross-Border Payments
* Row Three
* Digital Consumer
* EMEA
* Gig Economy
* Grocery and Pharmacy
* Row Four
* Healthcare Payments
* Insurtech
* Markets
* SMB
* Row Five
* Subscription Commerce
* TechREG™
* Travel
* Real-Time Payments
* Row Six
* Restaurants
* Retail
--------------------------------------------------------------------------------
Payment Methods
PRODUCT DEVELOPMENT AUTOMATION, COLLABORATION BOOST PAYMENTS INNOVATION
By PYMNTS Listen to Article
Posted on March 3, 2022
Share
Tweet
Share
Share
Share
Email
In a 24/7 world of digital commerce that spans the globe, payments velocity —
and the velocity of innovation itself — is critical.
Aditya Mishra, vice president of product management at Plastiq, said that
product teams can help improve financial services development — particularly
when it comes to building payments into the mix. But to do so, those same
development teams have to fine-tune what insights they seek to gather from
customers, as well as what they do with the insights once they are in hand.
“Everything shifts when you put the lens of payments on [a situation],” he said,
“especially with how rapidly things are changing.”
That’s especially true when it comes to shaking up the status quo.
Tweaking the Product Development Approach
Mishra said that product development teams need to tweak practices to better
suit end users, so that the teams themselves are agile and forward looking.
He said that two dimensions govern how product team leverage consumer insights.
On the one hand, there’s the constant exploration of the “next big problem” to
solve. There’s always the potential to be blindsided by a new issue or consumer
desire that takes a company by surprise — vigilance on the part of the
enterprise and a constant flow of feedback can minimize that risk.
As for the second dimension, product teams must monitor the reception of
services and products that have already been launched.
Mishra said that at any point, on any given day — specifically for payments
teams — exploring and solving for new problems becomes critical. Thinking in
systems, finding patterns and making sense of far-flung data points can also
help uncover new use cases and solutions to various end users’ pain points.
Offering an example, he said that an enterprise focused on small- to
medium-sized businesses might form a customer advisory board of, say, 15
companies across various business verticals.
“You can consistently work with them to evaluate and refine product decisions
moving forward,” he told PYMNTS, to see what has been holding them back or what
challenges they face when evaluating new payments technology.
It can be a challenge for development teams to grasp the problems as they’re
narrated by end customers and tie them back to the solutions that exist.
Building Demand for Speed
Businesses that are mulling automation are evaluating tech stacks and are
consistently finding issues with payments velocity.
“They expect funds to be transmitted within nanoseconds,” Mishra told PYMNTS.
“But we are still laying the infrastructure for instant payments around the
world. From an adoption curve standpoint, we are still very early in that life
cycle.”
Along the way, it will take time to educate customer segments and bring them up
to speed — literally — on real-time payments, he said.
Elsewhere, we’re seeing a movement toward the consumerization of B2B payments,
which rests on personal efficiency and familiarity with a digital interface that
mimics what we use in everyday life.
Smaller firms, in particular, are looking for friendlier, faster mobile
interfaces. However, larger firms are more concerned with frictions that
confront scalability, about audits and about a product’s robustness.
“Efficiency takes on a whole different flavor with larger firms,” Mishra said.
In the drive to “amp up” customer insights in the payments space, speed matters.
Product teams are limited in terms of staffing and resources, and collaboration
can be a boon.
Many product development teams can work with other staffers within the same
organization to glean more insight, Mishra told PYMNTS — for example, from
observing employees in the sales department.
Being right in front of one’s customer as someone tries to sell a product can
yield otherwise-unattainable insights. Automation, in terms of data collection
and analysis, can also speed product development, he said.
Letting the enterprise customer lead the conversation can also boost
development, Mishra said, rather than simply asking how they like, or dislike,
certain product or service features.
That level of customer-led discovery, he said, “offers the golden nuggets are
hidden down deep in the life cycle … understanding workflows outside your
product is a key sort of source of information.”
——————————
NEW PYMNTS DATA: ACCOUNT OPENING AND LOAN SERVICING IN THE DIGITAL ENVIRONMENT
About: Forty-two percent of U.S. consumers are more likely to open accounts with
FIs that make it easy to auto-share their banking details during sign-up. The
PYMNTS study Account Opening And Loan Servicing In The Digital Environment,
surveyed 2,300 consumers to examine how FIs can leverage open banking to engage
customers and create a better account opening experience.
Related Items:automation, faster payments, Featured News, Innovation, News,
Payment Methods, Plastiq, pymnts tv, real time payments, video
Share
Tweet
Share
Share
Share
Email
RECOMMENDED FOR YOU
* Innovation Makes People Switch Banks
* Payments Firm Shift4 to Acquire Finaro, The Giving Block
* Payments Processor i2c, App Developer Swell Team to Create Integrated
Financial Platform
POST NAVIGATION
Weavr CEO: Banking as a Service Solutions Create Complexity, Cost for Online
Businesses
Nearly Half of High-Income Earners Now Live Paycheck to Paycheck
TRENDING RIGHT NOW
5.3K
Payment Methods
WHY FINTECHS ARE TURNING PAPER CHECKS INTO ‘MONEY MOBILITY INSTRUMENTS’
3.5K
Acquisitions
PAYMENTS FIRM SHIFT4 TO ACQUIRE FINARO, THE GIVING BLOCK
2.8K
SMBs
THE SMALL BUSINESS CASE TO ACT GLOBAL, LOOK LOCAL
STREAMING LIVE
An error occurred. Please try again later.
LIVE
Waiting for live event to start...
THE BIG STORY
* 397
Consumer Finance
NEARLY HALF OF HIGH-INCOME EARNERS NOW LIVE PAYCHECK TO PAYCHECK
As the pandemic continued to weigh on the economy in the early months of
2022, the United States government reported that inflation...
FEATURED NEWS
* 285
Healthcare Financing
LYNX LAYS FINTECH TRACKS TO HELP PROVIDERS INTEGRATE HEALTHCARE, FINANCE
FLOWS
Untold amounts of planning are now being devoted to ideas around the
consumerization of healthcare, particularly as it relates to engagement,
affordability...
* Pay-With-Face Identity Verification Seeks New Users in Need of Rapid,
Secure Payments
* ‘Micro-Fulfillment’ Model Brings Same-Hour Delivery to Pharmacies
* Mobile B2B Payments Combine Consumer-Grade CX With Industrial-Strength
Security
* For Banking Industry, Cloud Migration a Question of When, Not If
EARNINGS & WALL STREET
* 47
Retail
BEST BUY FACES HIGHER COSTS, SAYS TECH HAS ‘CHANGED EVERY ASPECT OF OUR
LIVES’
Inflation may rise and fall, supply chains will ebb and flow, and the
pandemic will (hopefully) continue to fade, but Best Buy...
* Big Lots Promises Quick Rebound After Lackluster Q4
* Burlington Shares Tumble After Company Reports Q4 Foot Traffic Drop
* After 7-Month ‘Brand Transformation,’ Victoria’s Secret 2.0 Is Almost
Unrecognizable
SUBSCRIBE TO TRENDS
Connected Economy
B2B Payments
Cryptocurrency
Grocery Innovation
Healthcare Payments
Mobile Wallets
Payments Innovation
PYMNTS EMEA
Restaurant Tech
Retail/DTC Innovation
Small Business Innovation
SPACS/IPOs
TechREG™
Subscribe
Loading...
THANK YOU!
You have successfully joined our subscriber list.
PYMNTS REPORTS
--------------------------------------------------------------------------------
STUDIES
TRACKERS®
NEWS
--------------------------------------------------------------------------------
TODAY'S NEWS
EDITORS' PICKS
RETAIL
B2B
OPINION
MEDIA
--------------------------------------------------------------------------------
PODCASTS
PYMNTS TV
EVENTS
SUBSCRIBE
--------------------------------------------------------------------------------
MAIN
B2B
RETAIL
PARTNERSHIPS
--------------------------------------------------------------------------------
PARTNER WITH US
* Subscribe
* About
* Work With Us
* Terms & Conditions
* Privacy Policy
* Contact
© 2022 What’s Next Media and Analytics™