Why It’s Time To Rewire Payments Or Fail
Imagine a race of fast cars, speeding along some race track at, say, 1,000 mph. Now, imagine having to change a tire on one of those cars. Sorry — there are no pit stops! Changing that tire happens during the race, as no car wants to give up any edge to its competitors, as doing so would certainly result in losing that race.
Guess what? As exaggerated as that example is, it’s a decent description of the challenges involved in what Daniela Mielke, CEO at RS2, called the “rewiring” of the merchant ecosystem when it comes to payments. In a new PYMNTS interview with Karen Webster, Mielke set the foundation for why to accomplish that task — one that can lead to better customer experiences, merchant efficiency and, ultimately, more revenue, especially as those merchants expand globally into new markets.