Richard Meszaros, MBA

Proud moment. What started as a belief, that credit unions shouldn’t have to wait for delinquency to show up before they act, is now live in the market. Reactive collections → proactive prevention. Spotting strain earlier. Protecting members sooner. Grateful for the partners who leaned in, the early betas who trusted us, and the team who built it. And, don't forget the credit union way: the more credit unions that join, the bigger the impact we can make!

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Unlock transformed checkout experiences with FIS® Smart Basket. In this PYMNTS interview Mladen Vladic shares how dynamic payment logic & real-time purchase intelligence can enhance CX, save consumers money, reduce merchant fees and deepen issuer relationships. http://spr.ly/6043CdTaW #AI #Payments #Loyalty

Fiserv and Affirm are expanding flexible payment debit options for U.S. banks and credit unions by integrating Affirm with Fiserv’s debit processing platform. This new capability enables debit cardholders to split eligible purchases into fixed payments directly within their bank’s mobile app.   https://lnkd.in/eZJHb6xz

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If your institution is evaluating or considering TCH RTP and/or FedNow, don’t miss Cassandra Tucker’s insights. ABNB Federal Credit Union’s instant payments journey offers a clear look at what it really takes to bring new rails to life — across systems, teams, and workflows. Cassandra breaks down brilliantly what it takes from an operations perspective to successfully launch instant payments.

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Ah yes...... Good'Ol CEDP. I'm actually thinking of taking on the CEDP moniker. Cottrell Espouses Daily Processing I digress..... A fine enough article, but missing a key component. Just submitting proper data doesn't ensure results. Merchants need to be on on the Verified Merchant List (VML) in order to "participate in CEDP" benefits. Merchants can be on the list, drop off the list. For giggles, try finding out what causes a merchant to drop off the list and what are the timeframes to get back on the list. How many bad transactions or days with bad transactions put a merchant on the naughty list? Consider this. A merchant offers a $.10 flat sales tax for the month of June as a promo. This is prevalent every major holiday with "we'll cover your sales tax" or flat tax promos. In this instance, every transaction submitted to CEDP has the same sales tax rate. It's what was agreed with the buyer. It's 100% accurate. Does the system flag this as being invalid, knowing that it's impossible for a tax rate to be the same for varying sales amounts? What if a merchant's SKUs are inconsistent with price charged across transactions. I can see SKU level pricing being wildly different based upon contractual agreements? Does the merchant drop from the list in these scenarios? Consider what happens when merchants move acquirers. As the VML is acquirer specific, now merchants must revalidate to be on the VML? When I hear "AI" is the arbiter I get concerned. I've had a lot of conversations with some very smart people. I think as an industry, gateways, ISOs, software providers are conceptually on board with trying to ensure L3 data is accurate and provided alongside transactions. But my prediction is this is not a grab the popcorn type of moment. It's a put on the seatbelt type of moment! A small nuance within the article... Visa doesn't automatically apply a rate reduction. The rate reduction comes from calculations and data at the clearing processor when submitting transactions into clearing. The data used includes the various L3, L2 elements as well as participation in CEDP which should includes a validation of merchants on the VML list. Issuers are really good at telling us when we didn't pay enough. Rarely do I see a reclass for overpayment of interchange. #paymentprocessing #fintech #payments https://lnkd.in/dhtfByHd

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