The payments space has been put to the test over the past 18 months or so as businesses continue to face up to the challenges of the pandemic and intense commercial pressures. As new channels of operation and innovative technologies come on stream, Luc Belpaire, Product Management and Business Development, Trax, Enterprise Treasury and Payments, FIS talks to TMI about how the industry is changing to meet corporate needs.
Tom Alford, Deputy Editor, TMI (TA): We’ve seen businesses being placed under a lot of pressure in recent times. To what extent has technology in general, and payments tech in particular, proven its value in this unsettled period?
Luc Belpaire (LB): Corporations have faced numerous challenges over the past year from market volatility to increases in cybersecurity attacks to a dramatic change in working habits with the move to remote workforces as a prime example. Without centralised payments technology, it would have been challenging to effectively process global payments. The good news is that companies are investing in technology. According to the 2021 FIS Readiness Report, 68% of respondents will invest more in new payments technology over the next 12 months.