Addressed the issue of fees transparency at the Paytech Show

How it can boost profits and drive market growth

Vilnius 19.11.24

Kirill Lisitsyn, the co-founder and CEO of Torus, shared his insights in an interview with FF News during the Paytech Show, a platform that has been highlighting key trends and changes in the payments sector for the past five years.

In his discussion, Kirill emphasizes a crucial yet often overlooked topic: the necessity for increased transparency regarding card transaction fees. Many merchants find it challenging to comprehend these costs, which accumulate through the value chain with additional margins, resulting in confusion and a lack of trust towards acquirers. Meanwhile, acquirers face the challenge of fluctuating fees imposed by card schemes.

The payments landscape is undergoing swift changes, introducing new complexities. While the market continues to expand, the competitive landscape in e-commerce remains intense, putting pressure on profit margins. Acquirers must maintain a solid understanding of their income and expenditure factors, but their limited control over costs, particularly commissions, adds to the difficulty.

This issue has gained urgency, especially after the UK’s payment services regulator revealed that Mastercard and Visa have raised their scheme and processing fees by more than 30% over the past five years.

Torus offers innovative solutions for payment companies, facilitating improved forecasting, analysis, and fee optimization. These tools play a vital role in promoting fair pricing and enhancing relationships with merchants.

Don’t miss episode #83 of the Paytech Show, where you can discover how distinctive local solutions are reshaping the payments industry and what advanced, multichannel technology solutions are essential to address market needs.

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2024-11-20 10:45