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December 1, 2023 - Black Friday, once a day of crowd-filled, in-person mayhem, is now a much more subdued affair. This shift is thanks in large part to the rising dependence on online shopping accelerated by the pandemic. Shoppers can now take advantage of Black Friday bargains from the comfort of home and the holiday sales event still manages to attract millions of consumers.  

Ahead of this year’s event, the National Retail Federation projected that an estimated 182 million US consumers were planning to shop in-store and online through the five-day Thanksgiving weekend, with Black Friday leading the charge, making up 130.7 million of the potential shoppers.  At the same time, economists had noted that fear of inflation, while not as acute as a year ago, is still a concern looming large in consumers’ minds, potentially leading to more modest spending. Amongst these conflicting predictions, retailers across the world had their fingers crossed for a record-shattering spending spree on Black Friday 2023. So, now the day has come and gone, did they get the early Christmas present they were hoping for? 

According to the NRF, a record 200.4 million US consumers shopped over the five-day holiday weekend from Thanksgiving Day through Cyber Monday, surpassing last year’s record of 196.7 million, and its own expectations for 2023. This would indicate that Black Friday is as important as ever for merchants. However, we got a mixed response when we asked our LinkedIn network if Black Friday is still critical for driving sales and revenue.  

Half of the respondents we asked viewed Black Friday as somewhat declining in importance. This sentiment is mirrored in PwC’s holiday survey, which found that just 19% of shoppers were planning to shop on Black Friday, with 27% planning to shop in early November and 16% planning to shop between Cyber Monday and Christmas in anticipation of last-minute deals. The NRF also noted that consumers are increasingly preferring to spread their holiday shopping over the entire season.  So, with online shopping and earlier sales, does Black Friday still hold the same power over holiday shopping as it has in the past? Well, the remaining 25% of those we spoke to argued that the day remains critical. This spread in opinions points to the evolving nature of Black Friday in retail; the actual day may be slowly reducing in criticality for sales, but retailers are strategically shifting towards an extended Black Friday sales period. 

It’s no secret that Black Friday sales don’t last 24 hours anymore. Today, Black Friday adjacent sales messaging hits inboxes even earlier than Halloween. It’s been a slow but steady shift, with retailers moving their holiday deals earlier and earlier over the course of around a decade. Today, many merchants run Black Friday deals throughout November and into December. This has the benefit of causing less pressure on retailer infrastructure on key dates, while still meeting customer demand for savings. It could also mean reaching a different demographic of Black Friday shoppers, who have been less engaged in the ‘big day’ and less likely to plan around it. 

The key takeaway? Black Friday lives on and will always be an important period in the retail calendar, although the specific date appears to be getting diluted as retailers expand the Black Friday period. This evolution of Black Friday applies to both online and in-store because, while it may not look the same as it did decades ago, in-person Black Friday shopping will not vanish entirely. Shopping in-store has a lot of appeal for many consumers and can be a social pastime, especially in the run-up to Christmas. People are more likely to do their retail shopping on a Friday than other weekdays, suggesting an end-of-the-week buzz or treat is an important part of the week. In-store payment methods are enhancing the experience, ensuring loyal in-store shoppers benefit from the same efficiency as those who shop online.  

For retailers, this means ensuring they are able to accept a range of payment methods both on and offline. It also means harnessing payment data year-round so personalised offers can be made during the Black Friday sales period. In an e-commerce landscape where 70% of consumers abandon their carts at the last minute, making smart use of data will set retailers apart in 2024 in as a wave of innovation continues to sweep the retail technology playing field.  

To find out how PXP can help you prepare for peak sales periods to attract consumers and maximise revenue, get in touch with our team of payments experts today. 

About PXP Financial 

The end-to-end payment platform: PXP Financial provides a single unified payments platform to accept payments online, on mobile and at the point of sale. Powered by in-house acquiring, a variety of payment methods & financial services, PXP processes over EUR 22.7 billion annually through our unified gateway. Whatever your business needs today or tomorrow, PXP Financial’s innovative payment platform will support your business growth with all the payment services you will ever need from one source, wherever your business takes you. To find out more about PXP Financial family of companies, visit: www.pxpfinancial.com. 

November 8, 2023 - New data released by PXP Financial, the experts in global acquiring and payment services, has revealed which countries saw consumers place the most bets on the recent Rugby World Cup finals – with surprising results.

The data compares the volume of payments processed on Saturday 28 October, the day of the final, compared with the previous seven Saturdays.

While, as expected, consumers in South Africa were keen to back their winning team, with a more than 14% increase in payments on the day of the final, some of the biggest increases in volumes occurred in nations which did not send teams to this year’s World Cup.

This year marks the first Rugby World Cup without a Canadian side in the running, and the second without a USA team, which has caused many to question what the future of rugby in North America will look like. PXP Financial’s data shows that consumers in Canada are as enamoured with the sport as ever, though, with an almost 15% increase in payments volume – higher than in South Africa.

While Brazil is known for football fandom and as the most successful team ever in the history of the FIFA World Cup, it did not qualify for the 2023 Rugby World Cup. Despite this, rugby is steadily growing in popularity. This is backed by the data from PXP Financial, which shows an increase in payments of almost 20%. Elsewhere in Latin America, Colombia, which has never qualified for a Rugby World Cup, saw an increase of more than 6% - almost double the international average. This contrast with Brazil shows how interest in rugby differs greatly across the region, and pinpoints Brazil as a hotspot for growth.

Across Europe, there were also clear differences between countries. Italy, which lost out to France ahead of the quarter-finals, saw the highest increase in payments volumes compared to any other country at an almost 24% increase.

After Italy came Belgium, which has yet to send a team to the Rugby World Cup, at nearly 20%. By contrast, German and Spanish consumers were responsible for 9% and 7% increases respectively. Spain was disqualified from this year’s World Cup in April for fielding an ineligible player in two qualifying matches and lost a subsequent appeal, which could explain the more modest increase in volume compared to most other European countries.

In Greece, recent years have seen different bodies grapple over who is in charge of Greek rugby. This turmoil is echoed in PXP Financial’s data, which shows a mere 0.2% increase in payment volume.

Kamran Hedjri, CEO and Founder of PXP Financial, commented: “These surprising results show how rugby fandom is surging across the globe and creating opportunities for operators in new markets.
It is fascinating to see how different nations’ appetites for rugby compare and contrast, with nations that did not send teams to the tournament still placing significant volumes of bets. With data from World Rugby showing significant increase in participation this year, we’re here to help operators understand how best to maximise their share of this growth.” 

“This international surge in interest around the 2023 Rugby World Cup underlines the importance of preparing for major sporting events no matter where your business operates and being equipped to offer smooth cross-border payments. Offering handpicked payment methods that align with local preferences is also key to taking the advantage.”

About PXP Financial 

The end-to-end payment platform: PXP Financial provides a single unified payments platform to accept payments online, on mobile and at the point of sale. Powered by inhouse acquiring, a variety of alternative payment methods & financial services, PXP processes over EUR 22.7 billion annually through its unified gateway. Whatever your business needs today or tomorrow, PXP Financials’ innovative payment platform will support your business growth with all the payment services you will ever need from one source, wherever your business takes you. To find out more about PXP Financial family of companies, visit: www.pxpfinancial.com. 

Media contact
Emma Hynes, SkyParlour for PXP Financial
emmahynes@skyparlour.com
+44 (0)330 043 1315

PXP Financial Ranked Among Top 100 U.K. Companies Recognised by Newsweek for Outstanding Employee Sentiment and Satisfaction

New York, NY (October 4, 2023) – PXP Financial, the experts in global acquiring, payment, fraud and data analysis services, has been named in the Newsweek Top 100 Most Loved Workplaces® (UK) list and received certification as a Most Loved Workplace®.

The 2023 Top 100 Most Loved Workplaces® rankings are the result of a collaboration between Newsweek and the Best Practice Institute (BPI), a leadership development and benchmark research company. 

The results were determined after surveying more than two million employees from businesses with workforces varying in size from 50 to more than 100,000. The list recognises companies that have created a workplace where employees feel respected, inspired, and appreciated and are at the centre of the business model. PXP Financial has ranked at number 90.

PXP Financial’s CEO, Kamran Hedjri, commented: “We’re proud to be recognised as a workplace where employees enjoy a positive and nurturing environment where their achievements and progress are celebrated. Our person-centred approach to building teams has enabled us to create a highly collaborative culture where our people feel confident in their work and are encouraged to thrive.

“With a 25% higher-than-market rate for promotions, we are committed to fostering a supportive workplace where people know they will be recognised for their contributions, which results in greater job satisfaction and productivity. This positive ethos translates to best-in-class customer service, too.”

The analysis assessed companies against the Best Practice Institute’s ‘Spark Model’, a peer-validated framework with criteria including Systemic Collaboration, Positive Vision of the Future, Alignment of values, Respect and ‘Killer Achievement.’ Sentiments indicating how engaged employees are, how positive they feel about their workplace, and how committed they are to the organisation’s success were also analysed to identify the Top 100 Most Loved Workplaces.  Research by the BPI has found that Most Loved Workplaces® produce three to four times better customer service, employee performance, and retention than other businesses.

Newsweek’s Global Editor in Chief, Nancy Cooper, commented: “With the rapidly changing workplace and competition for top talent, more companies are recognizing the importance of employee engagement and commitment”, said Nancy Cooper, Global Editor in Chief, Newsweek. “The workplaces that have demonstrated a commitment to their employees in 2023 are more likely to attract the best talent and deliver strong business outcomes.”

BPI and Most Loved Workplace Founder and CEO, Louis Carter, added: "Fully understanding and acting upon employee sentiment, emotion, and recommendations continues to be a challenge and top priority of executive leadership,” said Louis Carter, CEO of Best Practice Institute. “The companies on this list have committed to listening carefully to their employees to create a workplace employees love.”

For the full Newsweek list of 2023’s Most Loved Workplaces, please visit https://www.newsweek.com/rankings/uks-100-most-loved-workplaces-2023.

Methodology

To identify the top 100 companies for the Newsweek ranking, companies were evaluated and scored as follows: 35 percent of the initial score was based on employee survey responses; 25 percent was derived from analysis of external public ratings from sites such as Comparably, Careerbliss, Glassdoor, Indeed and Google; and 40 percent came from direct interviews with and written responses from company officials. Newsweek then conducted additional research into every company on the list, as well as the top runners up, to determine the final list of 100 companies and their ranking. (The list includes both U.S. firms and companies with a strong U.S. presence that are based overseas.)

About Newsweek

Newsweek is the modern global digital news organization built around the iconic, over 85-year-old American magazine. Newsweek reaches 100 million people each month with its thought-provoking news, opinion, images, graphics, and video delivered across a dozen print and digital platforms. Headquartered in New York City, Newsweek also publishes international editions in EMEA and Asia.

About Best Practice Institute

Best Practice Institute is an award-winning leadership and organization development center, benchmark research company, think tank, and solutions provider. BPI is the certifying body for Most Loved Workplace® and conducted the original research to create the model and criteria for becoming a Most Loved Workplace®. BPI’s research proves that Most Loved Workplaces® produce 3-4 times better customer service, employee performance, and retention than companies not loved by their employees.  

For more information on how to apply to become a certified Most Loved Workplace in 2024, go to: http://www.mostlovedworkplace.com

Media Contact: 

Scott Baxt

Head of Research, Most Loved Workplace®

scottbaxt@bestpracticeinstitute.org

+1-917-805-6413

About PXP Financial

The end-to-end payment platform: PXP Financial provides a single unified payments platform to accept payments online, on mobile and at the point of sale. Powered by in-house acquiring, a variety of payment methods & financial services, PXP processes over EUR 22.7 billion annually through our unified gateway. Whatever your business needs today or tomorrow, PXP Financial’s innovative payment platform will support your business growth with all the payment services you will ever need from one source, wherever your business takes you. To find out more about PXP Financial family of companies, visit: www.pxpfinancial.com. 

Earlier this month, industry experts and professionals from across the payments sector gathered at an exclusive event in Vienna, hosted by The Payments Associations EU & UK in collaboration with PXP Financial and ForumF. An essential calendar date, this was a great chance to catch up with some of payments’ most influential and inspiring leaders and hear their thoughts on the trends impacting the industry.

Attendees were welcomed by our CEO, Kamran Hedjri alongside The Payments Association’s Tony Craddock and Thibault De Barsy, kicking off a day of insightful discussions on the future of payments in the DACH region, cross border payments and Open Banking.

With such a broad array of senior payments leaders in one place, it would be impossible to capture all the interesting and valuable dialogue. So, instead, here is a snapshot of our key takeaways.

Friction still a challenge for cross-border payments

The value of cross-border payments is set to rise to over $250 trillion by 2027, a surge of more than $100 trillion within a decade, but sending money across borders remains filled with friction. In fact, 2%-5% of payments are subject to an inquiry or investigation, leading to delays before payment can be completed. There are several reasons friction occurs, including disparity in regulations between countries, a lack of standardisation and a general lack of understanding of cross-border payments.

The industry goal is, of course, instant payments across all cross-border payment corridors that match the speed of domestic faster payments - which can now be settled in many countries in under 10 seconds. The panel shared insights into how this might be achieved, with the discussion ranging from payment system interoperability to legal, regulatory and supervisory frameworks, and cross-border data exchange.

Cross-border payments can only reach their full potential with coordinated action, programmes such as the UK’s Real-Time Gross Settlement (RTGS) service are a positive step. These enhancements will not only improve domestic payments, but provide the technical capability to deliver some of the enhancements needed for frictionless cross-border payments.

While efforts to improve the system continue, some countries are looking to an alternative that is rapidly gaining popularity – Central Bank Digital Currencies (CBDCs).

Several pilots have been conducted, and they have shown the potential of CBDCs as a way to make payments without using correspondent banks or private sector vehicles to move funds across borders. But for them to improve cross-border payments, central banks must make fundamental decisions on foreign access and how CBDCs connect across jurisdictions.

While these discussions are taking place, businesses should work to improve their awareness of the challenges around cross-border payments, as this will help them remain competitive in a global market. This means working with a payment provider that has experience with cross-border payments and can help them navigate the complexities involved.

Future of CBDCs in DACH and Central Europe

Against the backdrop of cross-border payments friction, it’s no wonder that one of the main topics of the day was the outlook for CBDCs, particularly across the DACH region and Central Europe. The consensus at the Forum was that they are an inevitability we need to prepare for. The future appears bright in Europe, with the European Commission publishing its proposal for regulating the digital euro, giving legal backing to the currency, and making it mandatory for all merchants to accept it.

More than 80% of central banks are considering launching a CBDC or have already done so, and the benefits to the consumer are too great to ignore when it comes to stability, security, and convenience. There is a significant appetite for electronic payments in the EU; payments reached €240 trillion in value in 2021, compared with €184.2 trillion in 2017, according to the European Commission.

Central banks and governments across the DACH region are taking significant strides as the CBDC buzz picks up. Austria continues to be a hub of payments technology and innovation as blockchain adoption grows across its public and private sectors. The country’s central bank, OeNB, has long been developing its wholesale CBDC, Project Delphi, while the Swiss National Bank is set to launch a pilot imminently.

In Germany, the banking community has seen intense debate around the future of CBDCs with the Association of German Banks supporting the digital euro. It also recommended limitations on the amounts stored by retail customers, and that businesses should be banned from using it as a store of value. The conversation continues across Germany’s sizeable financial sector.

Looking across Central Europe, Poland is conducting research into the ‘digital zloty’ and the Central Bank of Hungary announced a CBDC project in August, citing the need to behave like a fintech to ensure seamless payment experiences in the future.

While the general outlook is positive, implementing CBDCs remains complex, calling for careful consideration of technological infrastructure, legal frameworks, security, privacy, and garnering public acceptance. Therefore, further planning, testing and pilot phases will be needed in the coming months.

Changes on the Open Banking horizon

After years of closed banking, Open Banking technology takes centre stage. EU countries have been among the quickest to adopt it, while others are still playing catch up. PSD3, the European Commission’s proposed update to the Payment Services Directive, was a hot topic during this panel discussion.

PSD3 is split into two parts: a revised Payment Services Directive, which deals with the licensing provisions of payment service providers (PSPs), and a new Payment Services Regulation, which will update and replace the other elements of PSD2. Moving these elements from a directive to a regulation should ensure the rules are applied more consistently across the European Union.

The new regulation will strengthen the foundations of Open Banking by introducing stronger functionality and performance rules for the APIs that banks provide to fintech’s, improving payment information sharing, and removing unnecessary checks and ‘steps’ in the data flow.

But it’s not just the EU that has a much-anticipated update for those in the payments space. With the recent recommendations on the next phase of Open Banking from the Joint Regulatory Oversight Committee (JROC), momentum is gathering in the UK too. 

In June 2023, the Joint Regulatory Oversight Committee confirmed an ambitious programme to realise the full potential of Open Banking. Two regulator-led working groups will be tasked with developing the frameworks for expanding variable recurring payments and the design of the future open banking entity.

Thank you!

A huge thank you to all that attended this fantastic event, it is your energy and insight which drives the direction of travel for our industry. This is an exciting and pivotal time for payments in Europe, and it will be fascinating to see what strides are made between now and the next Payment Leaders’ Forum.

About PXP Financial 

The end-to-end payment platform: PXP Financial provides a single unified payments platform to accept payments online, on mobile and at the point of sale. Powered by inhouse acquiring, a variety of alternative payment methods & financial services, PXP processes over EUR 22.7 billion annually through its unified gateway. Whatever your business needs today or tomorrow, PXP Financials’ innovative payment platform will support your business growth with all the payment services you will ever need from one source, wherever your business takes you. To find out more about  PXP Financial family of companies, visit: www.pxpfinancial.com.

Our world tour has taken us from the stunning city of Vienna to the dynamic metropolis of London, and most recently to the bustling capital of Bulgaria, Sofia. Our tour so far has allowed you to get to know our European offices very well, so we thought we’d jump across continents for our final stop. Today, we are in Hyderabad, India.  

Hyderabad is a vibrant city, and home to PXP Financial’s India office, where our support and operation teams are based. We met up with our HR Business Partner, Usha Rout, who primarily deals with employee lifecycle management, to find out about day-to-day life at PXP Hyderabad.

Q: What do you think Hyderabad is most known for?

Usha: “Hyderabad is one of the largest cities in India located in the south of the country and there are a few things that it is well known for. Hyderabad is renowned for its cuisine, especially its biryani, which actually differs from other variations of the Biryani dish. Eating Hyderabadi Biryani is a must if you’re in the city!

Hyderabad is often referred to as the ‘City of Pearls’ because of its historical significance in the pearl and diamond trade. While the area has evolved since then – it is now a significant technology and economic hub - the nickname reflects this important legacy of the pearl trade.

There are also many impressive monuments; the city is historically and architecturally rich. I think this is because of its long history of cultural diversity. The most famous landmark is the Charminar, a late-16^th-century mosque with four grand arches that is an iconic monument and is well worth a visit. One of my favourite places to visit in Hyderabad is the Golconda Fort, known for its impressive architecture and acoustic marvels.”

Q: What are the best or most exciting things to do in Hyderabad and in India generally?

Usha: “There is always lots going on in Hyderabad and India more widely. Across the country we have numerous UNESCO World Heritage Sites - the Taj Mahal in Agra is a stunning place to visit and is one of the Seven Wonders of the World. It’s an incredible white marble mausoleum that is perhaps the most iconic symbol of India. Other exciting landmarks include the Qutub Minar, Hampi, Mysore Palace, and Ellora and Ajanta Caves.

I think India is a breathtaking country with many natural wonders. Himalayan trekking gives you the most amazing views, not to mention the Goa Beaches, Kerala Backwaters, Rajasthan deserts, the high-altitude lakes such as in Kashmir, and the dramatic mountains of Ladakh.”

Q: What do you most value about your office and why?

Usha: “I love the vibe of our office. I have amazing colleagues, which makes the office a wonderful place to spend time in. The office location is also great, we are right in the heart of the city and the premises are truly one of a kind – the perfect blend of natural and modern aesthetics.

I also really value the diversity and cultural blend. We have people from a myriad of faiths and we come together to celebrate all the festivals across the different faiths represented in the office.

Additionally, given the central location, there are a lot of really nice places to get lunch from or to go after work.”

About PXP Financial 

The end-to-end payment platform: PXP Financial provides a single unified payments platform to accept payments online, on mobile and at the point of sale. Powered by inhouse acquiring, a variety of alternative payment methods & financial services, PXP processes over EUR 22.7 billion annually through its unified gateway. Whatever your business needs today or tomorrow, PXP Financials’ innovative payment platform will support your business growth with all the payment services you will ever need from one source, wherever your business takes you. To find out more about  PXP Financial family of companies, visit: www.pxpfinancial.com.

PXP Financial has been at the forefront of shaping and driving payments innovation for many years. Today, we have more than 150 employees from 25 nationalities working in offices across different corners of the globe. We thought we'd give you a world tour of PXP offices to help you get to know us that little bit more. Next stop - Sofia, the bustling capital of Bulgaria.

Sofia is a modern, youthful city, with an eclectic feel. Home to many of Bulgaria's finest museums, galleries, restaurants and clubs, it’s also home to one of PXP Financial’s busy offices. We caught up with Senior Network Administrator, Stoyan Stoyanov, to find out what life’s like at PXP Sofia.

Q: What does your typical workday look like?

Stoyan: I tend to go to the gym early in the morning and then arrive in the office – most of the time I’m the first one through the door and it is very peaceful. It’s not long before everyone else arrives though, and the day begins.

The teams here work primarily in Development and Infrastructure but we also have Product and Risk too - our office is a vital Technology hub for PXP. My team is responsible for the IT and Infrastructure operations for our products. We make sure the uptime of our systems is extremely high and everything runs smoothly.

My first port of call is to check the top-level system health/performance dashboards and any open incidents that may have been raised overnight. I will then align with the multiple teams on the ongoing projects we’re working on, allocate tasks and start on my own workload.

In a typical day there’s also a design and architecture meeting with key stakeholders about a new feature which will further enhance our platforms. From an operational perspective, everything we do must be flawless and smooth to ensure the best customer experience.

Q: What do you think Sofia is best known for?

Stoyan: Bulgaria is well known for its picturesque mountains, refreshing seaside and wine regions so there is something for everyone. Because it’s located in the Balkan peninsula you can find a lot of cultures and traditions here, which also is true for the food – we enjoy an exquisite mix of Mediterranean and Middle Eastern flavours.

Q: What do you most value about your office and why?

Stoyan: I love when we gather in the office to brainstorm solutions to problems on the whiteboard. Of course, when we work remotely we have to do this virtually which is why I really look forward to it when we meet in person. It’s also just a lovely office to be in, located close to the city centre of our capital, with an amazing 360^o view.

Q: What are the interesting things happening in the payments industry in Bulgaria?

Stoyan: There is a significant growth in our sector within Bulgaria where a variety of fintech solutions are being developed. There’s now more than 200 fintech startups here, and most of them are based in Sofia – it’s fair to say the region is soon to be a hub for fintech’s in south east Europe. I’m so excited that PXP is part of that and strengthening its position by expanding in this country.

Q: What was your last team day/night event?

Stoyan: Our office organizes regular events for colleagues to socialize and have fun. Recently we’ve been bowling, go-karting, and enjoyed drinks in the evening. We’re lucky enough to be just 10 minutes from the city centre where there are a lot of amazing places for delicious food from around the world and of course traditional Bulgarian dishes.

About PXP Financial 

The end-to-end payment platform: PXP Financial provides a single unified payments platform to accept payments online, on mobile and at the point of sale. Powered by inhouse acquiring, a variety of alternative payment methods & financial services, PXP processes over EUR 22.7 billion annually through its unified gateway. Whatever your business needs today or tomorrow, PXP Financials’ innovative payment platform will support your business growth with all the payment services you will ever need from one source, wherever your business takes you. To find out more about PXP Financial family of companies, visit: www.pxpfinancial.com.

iGB Amsterdam is one of the most prestigious gaming B2B conferences in the world. Each year, thousands of gaming professionals attend the event, which features exhibitions, conferences, and networking opportunities.

As always, we were lucky enough to join the industry experts showcasing innovative ideas and advanced technology, and learn from those leading the way in the ever-evolving gaming industry.

Amidst the vibrant atmosphere of Amsterdam RAI - the biggest exhibition space in the Netherlands - we soaked in invaluable insights poised to shape our company's future, particularly from the payment service perspective.

The conference was segmented into areas focusing on online casino software, gaming platforms, payment solutions, legal and regulatory guidance, marketing strategies, affiliation opportunities, and corporate services. Each section was a unique opportunity to explore, learn, and connect.

With so much to take in it’s difficult to pick just one highlight, so here are our top three takeaways from iGB Amsterdam 2023…

The need for friction-free mobile gaming

The global mobile gaming market earned around $92.2 billion in 2022. That represents 52% of total global gaming revenue that year, so we weren’t surprised to find it was a hot topic throughout the event.

There were some fascinating discussions around mobile gaming trends which emphasised the importance of optimising platforms for seamless mobile experiences, something that resonated deeply with us as a payment service provider.

The future of payments is not further into digital or connectedness, but into invisibility. This is particularly true in the gaming space, where players don’t want to have gameplay disrupted by making a payment.

We understand that providing smooth and convenient mobile payment solutions is crucial for meeting the evolving needs of modern gamers, and this mobile-first approach aligns perfectly with our company's mission to deliver exceptional payment experiences to our valued merchants and their customers.

Greater personalisation through AI

During the event there was a lot of excitement around harnessing artificial intelligence (AI) to make personalised payment recommendations based on user behaviour, and we are certainly seeing more competition from retailers and other tech-savvy companies that put personalisation at the centre of their business models.

Soon, segmenting and microtargeting won’t go far enough. Consumers will expect hyper-personalisation: the ability to use data and analytics to develop a deep understanding of each customer’s needs and orchestrate a set of tailored experiences. Gamers are no exception.

Artificial intelligence (AI) is already rapidly transforming the online gambling industry to improve customer service, prevent fraud, create new and innovative games, as well as personalise the gambling experience for each player.

It’s also a game-changer for the payments industry. AI can make tailored payment recommendations that assist in optimising a payment process. Based on the detection of personalised spending patterns, it can also enable automated payments, reducing the amount of time and effort customers spend making payments. At PXP Financial we recognise the huge potential to enhance customer satisfaction and loyalty, and how this tech can benefit our merchants and end-users.

The value of data-driven insights

Data-driven insights, mainly through AI-driven analytics, was another significant topic during the event. Once again, we come back to what’s at the heart of it all: improving the customer experience. That starts with treating payment data as a strategic asset. Payment data provides a clear picture of customers, and their purchases, to businesses in near real-time. Having access to this data means companies benefit from a deep understanding of the customer journey and create a better experience.

At PXP, we understand the critical role of data in understanding our merchants' needs and their customers' preferences. Leveraging this data, we can create tailor-made payment solutions and offer personalised services that cater to each merchant's unique requirements. By analysing their transaction patterns, chargeback rates, and other key metrics, we can provide data-backed recommendations to optimise their payment processes and maximise revenue.

We were so eager to share these revelations with our product and management team as soon as we returned from Amsterdam. We firmly believe that by staying at the forefront of mobile gaming trends, exploring innovative payment solutions, and leveraging data-driven insights, we will be better equipped to lead the way in the card-acquiring space and offer unparalleled payment experiences to our merchants.

With renewed enthusiasm and strategic direction, PXP Financial will continue to thrive and maintain its position as a frontrunner in the payment service industry.

17th of July - PXP Financial, the expert in global acquiring, payment, fraud, and data analysis services, announced today it has received accreditation from Visa, a world leader in digital payments, to become a Token Service Provider.

The Visa Token Service (VTS) is the foundational platform for global tokenization. By substituting Visa card numbers with tokens, VTS enables a more secure digital payment experience for millions of customers every day.

Kamran Hedjri, Founder and Group CEO of PXP Financial, “The payments ecosystem is in a state of transition, with fraud remaining a major challenge. Visa and others are driving significant changes to transition card payments to a fully digital future, underpinned by the security of payment tokens. 

“Here at PXP Financial, we focus on keeping our merchants at the forefront of important developments in the payments industry, especially where we can deliver tangible benefits to card acceptance rates and security.”

“As a result, and to comply with card scheme recommendations around the use and storage of card data, we are moving towards the general use of scheme tokens, where we successfully launched activation of Visa end of May.”

Tokens are unique to a merchant and card. As a Token Requestor and Token Service Provider, PXP Financial will perform the provisioning of tokens on behalf of its merchants and store the tokens to use for future payments. As well as the enhanced security this move will deliver to PXP Financial customers, additional benefits including increased approval rates, as authorizations performed with a token are more likely to be approved by the issuer.

The token integration will also incorporate notifications about card updates, which will result in a reduction of card declines that happen because of an expired card.

Hap Huynh, Vice President, Visa Digital Solutions, added: Last year, Visa Token Service issued its 4 billionth token, marking a major milestone which nearly doubled Visa’s token count in one year, surpassing the number of physical Visa cards in circulation worldwide. This milestone underscores the powerful security that tokens provide to merchants, issuers, and consumers alike.

About PXP Financial 

The end-to-end payment platform: PXP Financial provides a single unified payments platform to accept payments online, on mobile and at the point of sale. Powered by inhouse acquiring, a variety of alternative payment methods & financial services, PXP processes over EUR 22.7 billion annually through its unified gateway. Whatever your business needs today or tomorrow, PXP Financials’ innovative payment platform will support your business growth with all the payment services you will ever need from one source, wherever your business takes you. To find out more about PXP Financial family of companies, visit: www.pxpfinancial.com. 

For more information, visit: www.pxpfinancial.com

Our world tour of PXP offices began in Vienna, and we continue by heading to London! With London being home to our headquarters and a global hub for FinTech activity, there’s always lots going on. We spoke to our Business Development Manager, Vladislav Chirilov, to see what it’s like to work in our 
London office. 

Q: What do you think London/UK is most known for? 

Vladislav: “I think London is probably most known for its rich history, traditional afternoon tea, and 
iconic landmarks like Big Ben and Buckingham Palace. If you’re ever in London, I recommend paying 
them a visit if you haven’t already. We’re also definitely famous for our love of fish and chips and 
cheering for our favorite football teams!”

Q: Are there any interesting things happening in the payments industry specific to your 
country?

Vladislav: “The UK is a leader in digital payment adoption, known for its resilience and adaptiveness in 
the industry. As of 2023, it ranks third globally in transaction value of digital payments, following only 
China and the US. The payments industry here is driving innovation and fostering inclusion while also 
supporting the development of digital economies, making London such an exciting place to be.”

Q: What are the best or most exciting things to do in your office’s city? 

Vladislav: “London offers a plethora of exciting things to do! I definitely couldn’t name everything! In 
terms of culture, exploring the world-class museums such as the British Museum or Tate Britain is an 
incredible experience – as is immersing yourself in the vibrant theatre scene of the West End. The 
London Eye offers breathtaking views of the city, but let’s also not forget the simple enjoyment of a 
traditional Sunday roast at a cosy pub!”

Q: What are the best local places to go to for lunch or after work?

Vladislav: “When it comes to local places to go to for lunch or after work, you’re spoiled for choice! I’d 
say you can’t go wrong with grabbing a bite at Borough Market or trying out the food stalls at Camden 
Market. Both places have such a diverse (and delicious!) array of food. If you’re in the mood for some 
after work fun, heading over to a pub in Shoreditch for drinks and live music is always an excellent 
choice.”

Q: What do you most value about your office and why? 

Vladislav: “Ah, where to start? Our office is a treasure trove of awesomeness! I think what I value the 
most is the vibrant and collaborative environment. The city’s fast-paced atmosphere definitely inspires 
us to think outside the box and stay ahead of the game. 
The energy here is contagious – it feels like we’re all part of a big family. Plus, we have a gaming 
console, and let’s say that friendly competitions have taken our team bonding to a whole new level!”

Q: What does your workday typically involve? 

Vladislav: “My role as the Business Development Manager at PXP Financial means that my workday 
is like a roller-coaster ride, but in a good way! I spend a lot of time researching potential clients, 
reaching out to them, and building relationships. I really enjoy being able to make these new 
connections with people. 

In addition, my work includes analyzing market trends, brainstorming strategies, and collaborating with 
the team to make the magic happen. Of course, I also can’t forget the occasional battle with the office 
coffee machine!”

Q: What is your favorite part of your day-to-day work life?

Vladislav: “The cherry on top of my day is without a doubt the thrill of closing a deal. It’s like scoring 
the winning goal in a championship match (just without the physical exertion!). I love the challenge of 
negotiations and seeing all the hard work pay off. 

Aside from this, every day always brings something exciting, whether it’s brainstorming innovative 
ideas or sharing a laugh with my excellent colleagues. It’s the little moments that make work feel like 
play!”

About PXP Financial 

The end-to-end payment platform: PXP Financial provides a single unified payments platform to accept payments online, on mobile and at the point of sale. Powered by inhouse acquiring, 200+ alternative payment methods & financial services, PXP processes over EUR 22.7 billion annually through its unified gateway. Whatever your business needs today or tomorrow, PXP Financials’ innovative payment platform will support your business growth with all the payment services you will ever need from one source, wherever your business takes you. To find out more about PXP Financial family of companies, visit: www.pxpfinancial.com.  

PXP Financial has been at the forefront of shaping and driving payments innovation for many years. Today, we have more than 150 employees from 25 nationalities working in offices across different corners of the globe. We thought we'd give you a world tour of PXP offices to help you get to know us a little bit more. Our first stop? Vienna.

Located close to the city centre, our Vienna office is a real hub within PXP. We sat down with our Banking Relationship Manager, Maral Sheikhestani, to see what she had to say about working at PXP in Vienna.  

Q: What do you think Vienna/Austria is most known for? 

Maral: "There's definitely a few things that Austria and specifically Vienna are known for. For food I think the most well-known dish is Wiener Schnitzel, which roughly translates to Viennese cutlet. Sachertorte, a rich chocolate cake with a signature apricot jam layer, is also highly associated with Vienna as it was first made here.

Vienna is rich in culture. Mozart often comes up when thinking about Austria. Opera is a big one; the Wiener Staatsoper is a world-leading opera house. Other things specific to Vienna are the Wiener Walzer (translated to Viennese waltz), Fiaker-fahrt (horse and carriage rides) and the Schönbrunn Palace, which is one of many incredible places to visit here."

Q: What interesting things are happening in the Austrian payments industry?

Maral: "A few key companies are driving the market in Vienna/Austria. For example, Paysafecard, WesternUnion, and some credit institutions like Erste Bank, Raiffeisen, and Bank Austria. And of course PXP has a significant presence!’’

Q: What are the most exciting things to do in Vienna?

Maral: "It definitely depends on the season. I'd say in the summer, after-work drinks by the Donaukanal are a lot of fun. The classic summer to-dos are the walks of Standtwanderweg and going to a Buschenschank/Heuriger (similar to a wine tavern). In the winter, it has to be the Christkindlmarkt (Christmas Market), ice skating, and enjoying some Glühwein, which is like an Austrian/German mulled wine.

More generally, our office location is great because it is so central. There are so many incredible locations to go to lunch or dinner with colleagues or clients. I could go on for a very long time naming the best local places! Ramasuri, Salettl Pavillon, Tachles, Melangerie Bistro & Caffeterie, and Artner am Franziskanerplatz are just five randomly picked examples, but the list goes on endlessly!’’

Q: Please tell us about working in the Vienna office. 

Maral: "It's always considered the operational hub of PXP. A part of the C-level management is located in Vienna. There are also a lot of other departments present, such as risk, account development, project management, IT, product, a part of finance, and development.

We have a great team of people in the Vienna office. My team manager is excellent - the best people manager award definitely goes to him! We recently did a team day (cooking!) that was hugely enjoyable. I also really appreciate the flexible working at the office, i.e., office hours and remote working. I look forward to continuing to be part of the Vienna team!"

Find us here:

About PXP Financial 

The end-to-end payment platform: PXP Financial provides a single unified payments platform to accept payments online, on mobile and at the point of sale. Powered by inhouse acquiring, 200+ alternative payment methods & financial services, PXP processes over EUR 22.7 billion annually through its unified gateway. Whatever your business needs today or tomorrow, PXP Financials’ innovative payment platform will support your business growth with all the payment services you will ever need from one source, wherever your business takes you. To find out more about PXP Financial family of companies, visit: www.pxpfinancial.com.  

SBC Summit North America returned earlier this month for its third edition. Once again, the event brought together key sports betting and iGaming players to exchange opportunities, expertise, and insights into the industry's future. Delegates - an astonishing 3,500 of them - not only immersed themselves in current industry goings-on, but also gained insight into the direction of the industry and met the innovators driving us to this future. 

SBC Summit North America had it all: expert keynote speakers, networking opportunities with faces familiar and new, the SBC First Pitch competition and a bustling tradeshow floor. If you didn't manage to attend this year (or even if you did and want a reminder), we've put together a quick takeaways blog to bring you up to speed. 

1. Payments, payments, payments! 

Payments continue to occupy a critical position within the iGaming and sports betting industry. SBC dedicated an entire conference stream to discussing all things payments and FinTech.  

Our Founder and Group CEO, Kamran Hedjri, hopped from the NextGen Payments and RegTech Forum in Zürich (check out our event blog) to SBC in New Jersey to share his expertise on payments compliance. Joined by an expert panel, the session offered exciting insights into payment innovation and regulatory challenges. 

Recognising and meeting customer demands is critical and instantaneous payments are becoming more and more desirable. At the same time, customers want to pay with their preferred payment method (both traditional and newer options such as digital wallets and BNPL), preferred currency and without fees. The payment process needs to be as frictionless as possible, and the closer it gets to invisibility, the better.

Player experience is also paramount and key to converting and retaining loyal players. This is critical for business success and driving profits. It's a tall order, but it's one that we need to meet as an industry. 

The challenges are numerous. The oft-international scale of industry operations, multiple channels, and customer demands for choice and speed combine to create a challenging payments landscape for businesses to navigate. 

Compliance requirements, such as AML (anti-money laundering) measures, are an additional and essential consideration, but can cause the process to become even more cumbersome. Furthermore, differences in requirements between state jurisdictions produce a fragmented regulatory terrain.  

These challenges are not going anywhere. Selecting a payments partner with regulatory expertise when expanding into the US or new states is crucial. Here at PXP Financial, we have 20 years' of experience in processing gaming industry payments. We advise our customers on the regulatory nuances and support the provision of payment options and processing across chosen locations.  

When looking to the future, the task is clear - even if it's not easy! Customer expectations and regulatory requirements need to be balanced. Regardless of your position within the industry, the regulator and the customer are two pivotal stakeholders. 

2. What the tech?!

One of the most exciting areas of discussion is technological innovation. There have been some incredible developments in recent years. AI (artificial intelligence) and open banking technology are two examples which have revolutionary potential within sports betting and iGaming. So, where do they fit in? 

AI is particularly useful in supporting compliance. For example, AI can automate and streamline the KYC (know your customer) process by verifying customer identities, assessing risk profiles, and conducting background checks.  

Another application is for responsible gambling. AI can monitor individual player behaviour and detect signs of addiction or excessive gambling by analysing, e.g., betting history and account activity. Once at-risk players are identified, appropriate interventions, such as the provision of support resources or pop-up warnings, can be activated.  

The capability of AI to analyse vast amounts of data transfers into fraud detection and anti-money laundering. Through real-time monitoring, AI can quickly flag suspicious activities for further investigation. 

Meanwhile, open banking technology brings automation, efficiency, and enhanced decision-making to the industry.  

For example, leveraging open banking APIs (application programming interfaces) enables operators to access real-time and accurate financial information about their customers. Operators can carry out thorough due diligence, supporting compliance with AML and KYC regulations. In terms of payments, open banking enables secure and seamless payment processes – customers can initiate transactions directly from their bank accounts. One associated upside of this is lowered risk of fraudulent transactions.  

It’ll be exciting to see where these technologies, and others such as blockchain and biometrics, drive the industry to.  

3. Equality, diversity and inclusion 

Technological advancements, payments innovation, compliance and regulation are all incredibly important topics. But so too is EDI (equality, diversity and inclusion). After all, iGaming and sports betting is an industry of people, for people.

The agenda for SBC Summit North America included several well-attended events focused on improving industry diversity, such as the global gaming women breakfast meetup and a panel on equity hiring. There is a long way to go; however, facilitating networking and promoting EDI conversations are an important step. Hopefully SBC will continue to engage with these issues that are so critical to continuing industry success.  

At PXP Financial, we recognise it is the people that make us tick. Check out our recent blog showcasing some of the highly successful women across the business.  

SBC Summit North America was an incredible few days. With the dates already announced for SBC Summit North America 2024, we know where we’ll be 7-11 May! Get the dates in your diary now, it’s bound to be another highlight of the industry calendar. 

About PXP Financial 

The end-to-end payment platform: PXP Financial provides a single unified payments platform to accept payments online, on mobile and at the point of sale. Powered by inhouse acquiring, 200+ alternative payment methods & financial services, PXP processes over EUR 22.7 billion annually through its unified gateway. Whatever your business needs today or tomorrow, PXP Financials’ innovative payment platform will support your business growth with all the payment services you will ever need from one source, wherever your business takes you. To find out more about PXP Financial family of companies, visit: www.pxpfinancial.com.  

Last week, more than 400 industry leaders gathered in the beautiful city of Zürich for the 13th NextGen Payments & RegTech Forum (NPF). The two-day event was packed with exciting panels, captivating keynote speeches, compelling fireside chats, and informative Q&As. Our founder and Group CEO, Kamran Hedjri, joined the incredibly thought-provoking ‘Payments Innovation’ panel. 

With more than 1,000 minutes of top-level content, the insights were manifold. Therefore, we’ve broken it down into three key takeaways for you to digest quickly.   

1. Payment innovations  

Innovations in payment technologies have long been transforming how we pay and how transactions are processed. Chances are you’ve completed a contactless payment, used a digital wallet (Apple Pay and PayPal are popular digital wallet options), and perhaps even bought something using a blockchain-based payment.

Nevertheless, some still prefer more traditional methods of payment. The payments industry needs to focus on maximising choices, so customers always have the option of using their preferred payment method.   

Regardless of the payment method, customers want to pay, send, and receive money instantly and seamlessly. The less friction, the better.  

As such, payments are becoming embedded into everything we do. Customer expectations have changed; embedded payments are becoming the norm. People don’t want to leave an app or website when they pay, and customers want to pay in their preferred currency with their preferred payment method.   

However, the payments industry is a highly fragmented landscape in constant evolution. Establishing within payments represents one of the most monumental challenges currently faced within the industry. As we move forward, the central questions will likely be around the role of digital assets, such as stablecoins and CBDCs (central bank digital currencies), and how they will fit into the current payments landscape.   

2. Keeping up with the...payments! 

Regulation plays a critical role within the payments industry, and concurrent to the innovations in payments are regulatory innovations. Indeed, the regulator and the customer must be regarded as two key stakeholders in payments. Regulation aims to increase competition, ensure security, and promote best practices. However, given the pace of evolution in the payments industry, regulation often struggles to keep up.   

The number of new businesses in the payments space has exploded in recent years, and the types of payment services available have become incredibly diversified. The result has been inconsistent or insufficient regulation. Standardisation, particularly in an increasingly interconnected world, is a tall order. Without standardisation, navigating regulation continues to be difficult for startups, scaleups, scale-outs, and incumbents.   

Further questions are cropping up around regulating digital assets, such as cryptocurrency. The role of regulators remains uncertain, particularly given the decentralised nature of many digital assets. However, regulators have urged caution about the risks associated with digital assets. With the current absence of external regulation, payment businesses engaged with digital assets need to have an internally robust regulatory framework that privileges and protects the customer.   

 As an industry, regulators and payment businesses must collaborate. Businesses need to monitor regulatory changes to keep ahead of the curve and remain compliant. RegTech is becoming increasingly essential for supporting businesses to overcome the regulatory challenges within payments.   

3. Cybersecurity 

Cybersecurity remains the top concern of regulatory changes. Protecting customer privacy while also mitigating against fraud and improper usage are critical tasks for the payments industry. However, this is difficult in the fast-paced payments landscape and given the increasing sophistication of cyberattacks.

Technological innovations are supporting developments in the cybersecurity space. For example, biometrics authorise a payment using physical characteristics to authenticate user identity. Biometrics includes technologies that are now relatively commonplace, such as fingerprint scanning and face recognition. As the technology develops, biometrics will remove the friction of identity verification in the payment journey.   

Although still in its infancy, AI (artificial intelligence) will also play a key role in supporting cybersecurity in the payments space. While innovations are facilitating both quicker and higher volumes of payments, cybersecurity compliance often operates at a slower pace. AI can improve risk assessment speeds and enhance the process of fraud detection. The machine learning component of AI also means it learns from each transaction, increasing its competence and efficiency the longer it is implemented.  

The 13th NextGen Payments & RegTech Forum was an invaluable event. Industry leaders were able to unite and share their expertise and insights to drive the industry forward. In the fast-paced landscape of payments, having the opportunity to come together and learn from each other is critical, so we want to say a huge thank you to Qube for hosting the forum. We can’t wait to travel to Athens in September for the 14th edition of the NextGen Payments & RegTech Forum – see you there! 

About PXP Financial 

The end-to-end payment platform: PXP Financial provides a single unified payments platform to accept payments online, on mobile and at the point of sale. Powered by inhouse acquiring, 200+ alternative payment methods & financial services, PXP processes over EUR 22.7 billion annually through its unified gateway. Whatever your business needs today or tomorrow, PXP Financials’ innovative payment platform will support your business growth with all the payment services you will ever need from one source, wherever your business takes you. To find out more about PXP Financial family of companies, visit: www.pxpfinancial.com.