Meet-Her She Knows Payments
A Collaboration between APAC’s most influential female payments leaders hosted by the Emerging Payments Association Asia.
Andrea is the Chairwoman of the Emerging Payments Association’s Advisory Board; Board member of the European Women in Payments Network. She also sits on several industry forums including the Payment Systems Regulator in the UK. She is a passionate speaker and supporter of diversity and inclusion, as well as financial inclusion, championing and challenging the industry to deliver better financial products for the benefit of all.
Yuchen is the project manager of EPA Asia and is coordinating both projects and events such as round table and inside tours. As a postgraudated student, she is heavily involved in EPA Asia’s research projects and the academic relationships. Yuchen joined the team as an intern during the associations’ foundation year and has since become an employee valued for her sound critical thinking and her ability to always come with bright ideas.
Know more about Chapter 3
Where available, most consumers prefer the convenience of card or mobile wallet payment. Prior to the pandemic, the consumer dislikes included some merchants not accepting digital methods for small value transactions and the requirement to remember and enter the PIN for high value transactions.
During the pandemic, there have been concerns around the physical touchpoints of can and pinpads.
It is increasingly a challenge to find an ATM to distribute bank notes. Additionally, it is increasingly a challenge to find a store that can make change to break a large bank note into small change.
Other considerations around a move to a totally cashless society include interchange fees, operational risk and backup plans for network outages, cost of cash handling, the shadow economy (tax evasion, organized crime) and the utility of cash as a store of value in a negative interest rate environment.
May 2020 is a major moment in time as the world navigates the short- and long-term impacts of the Covid-19 pandemic.
Major moments in time can change priorities and behaviours. For example, amid the current pandemic there are rapidly changing attitudes around payment methods such as cash, card, or digital wallet.
At such times as these, there can be major leaps forward and change can happen very quickly. For example, from late March onwards, both Visa and Mastercard have variously increased their transaction limits for contactless card payments. This change has been implemented swiftly and decisively without lengthy consultation or PR campaigns debating the risks versus the rewards. We are yet to see whether those transaction limits will be reduced post the pandemic.
PayPal Holdings, Inc. is an American company operating a worldwide online payments system that supports online money transfers and serves as an electronic alternative to traditional paper methods like checks and money orders.
Equinix,Inc. (Nasdaq: EQIX) connects the world’s leading businesses to their customers, employees and partners inside the most interconnected data centers. On this global platform for digital business, companies come together across more than 50 markets on five continents to reach everywhere, interconnect everyone and integrate everything they need to create their digital futures.
Wirecard is one of the world’s fastest growing digital platforms in the area of financial
commerce. We provide both business customers and consumers with a constantly
expanding ecosystem of real-time value-added services built around innovative digital
payments by using an integrated B2B2C approach. This ecosystem concentrates on the
areas payment & risk, retail & transaction banking, loyalty & couponing, data analytics &
conversion rate enhancement in all sales channels (online, mobile, ePOS). Wirecard
operates regulated financial institutions in several key markets and holds issuing and
acquiring licenses from all major payment and card networks. Wirecard AG is listed on the
Frankfurt Stock Exchange.
The EPA Asia’s vision is to facilitate for the region to become the centre of innovation for the emerging payment industry. Payment Solutions in Asia is already advanced, but lack of harmonization and standardisation has introduced technical and regulatory hurdles slowing down the projection to excellence. EPA Asia represents a unified voice for our members in the work towards a stronger and coordinated industry.