As ISVs continue to take on an increasingly important role in the payment space, Anthony Chalhoub, Managing Director at Worldline North America, spoke to Payment Expert about what they can bring to the consumer journey.  

It comes as the focus on the payment journey takes on elevated importance as demand continues to drive accelerated innovation in the payment space. 

PaymentExpert: Can you tell us more about your role and what you do?

As Managing Director, Regional Business for Worldline North America, my goal is to expand our offering across different segments and verticals, focusing on in-store and online omnichannel products and services for ISVs and ISO banks. I’m here to guide our vision into the next phase of growth for the business and deliver a solution that will inspire trust and scalability across the payments value chain.

PE: How has the role of ISVs grown in the payments space?

Payments now more than ever are at the centerpiece of the ISV model. As the ISV aims to control all aspects of their software, payments are not just another integration but a way for them to manage a new avenue of revenue for their business. More often we see the ISV building out their own payment gateway or leveraging the gateway of a payment provider and rebranding it as their own. The result is a comprehensive solution that maintains consistent brand control throughout the entire experience. The ISVs end customer essentially feels like they never leave the software when signing up for and accepting payment services.

PE: Can you give us some more details on the top financial service trends and technologies to watch for in 2022?

In financial services, there is never a shortage of innovation. The growth of mobile proximity or mobile wallet payments is not slowing down. Consumers are shifting their preferences to avoid exposure to physical payment elements not only because of the COVID-19 situation, but also the speed and convenience it brings. With the likes of Apple Pay and Google Pay needing acceptance points or somewhere to tap, it gives providers like Worldline the unique position as the enabler to make these transactions happen. We are at the forefront of the acceptance of these payments as a result, helping to drive mobile adoption and faster payments to the benefit of all parties.

Merchant demand is another driving force behind innovation. These businesses want more payment methods and will look to payment companies that can provide that feature-rich offering. Trends such as Buy Now Pay Later (BNPL) and cash flow lending are hot topics for merchants, and I believe we will see more consolidation and partnerships among ISVs and payment providers as they can’t supply it all.

As more of these partnerships occur it’s causing the big banks to react as they risk being displaced, as we see them moving back into merchant acquiring rather than just being an ISO. This reaction is creating more opportunities for Worldline to partner with these banks and payment providers as they need the support to deliver competitive solutions.