1. You recently won the Best Payment Orchestrator award at MPE 2024. Congratulations, and well done. Generally speaking, the orchestration market is very crowded. How do you distinguish yourself from competitor propositions, and what does WL Payments do differently?
Thank you! It’s a great honor to have won the Best Payment Orchestration Solution award at MPE 2024. I would like to take this opportunity to publicly express my admiration for my team's remarkable accomplishment in developing our payments orchestration platform.
We must emphasize that Payment Orchestration is often misinterpreted as merely directing transactions to different acquirers. However, it is more than that; it is a harmonious symphony of numerous products and features working cohesively together.
To achieve this, you need comprehensive AI-powered Risk & Dispute management, Intelligent Routing & Cascading, Flexible 3DS, Subscription management, Reconciliation, (Network) Tokenization, Real-time Data Insights, and other features and solutions that ultimately lead to a higher approval rate and lower costs.
Payment orchestration is becoming a vital aspect of the payment industry, and our platform sets the standard for it, defining the term “Payment Orchestration”. In many cases, we are the trendsetters and often see competition trying to copy our features. Additionally, you require a team of highly skilled and responsive individuals, who genuinely care about the merchants’ need and their business results. I am profoundly grateful for my team's dedication and commitment to delivering just that.
2. There has also been some recent rebranding to Celeris. What was the rationale behind it?
The newly launched Celeris brand is a fusion of the best features from our former brands, WLPayments and CelerisPay, the white-label and direct merchant platforms. Our primary objective is to demonstrate our vast knowledge and enthusiasm for simplifying and enhancing payment processes for everyone. Celeris symbolizes speed and adaptability, which is precisely what we aspire to be in this rapidly evolving payment landscape. It also reflects our commitment to innovation and our amazing customers. Our goal is to make payment processing more straightforward and efficient for everyone. Celeris embodies our dedication to adapt quickly in this fast-paced payment sector, reflecting our commitment to speed and flexibility. We think of the number of hours and days instead of weeks and months. Above all, it showcases our unwavering commitment to innovation and our valued customers.
3. The payment acceptance landscape remains incredibly dynamic with new business models and technologically driven innovation. What do you think are the key drivers in your space that will impact the ecosystem in the short to medium term?
The world of payments is changing faster than ever, thanks to new and exciting tech innovations and business models. The convenience of paying with our phones, along with the possibilities of AI and digital currencies, are some of the key factors shaping the industry. Moreover, the rising need for seamless payments, regardless of how and where you shop, drives the industry towards faster and easier payment solutions. Ensuring safe and secure payments is a top priority, and laws and regulations are constantly updated to reflect this. These developments are making payments more efficient and accessible, and it's truly exciting to see where the industry is headed next!
4. On a completely different topic, what do you do in your spare time?
When I'm not busy with my three wonderful children - Jaya, Neil, and Celeris - I dedicate myself to discovering new ways to bring education to the world. I aim to create innovative solutions that make education accessible to every child. Education is a powerful tool that enables children to overcome their circumstances and enriches their lives and the lives of those around them.
5. What book have you recently read, or which box series have you recently watched?
Lately, I haven't had much interest in reading books or watching TV shows. However, I recently watched the '12th Fail' film on Netflix and was inspired by its message about the transformative power of education. It reinforced my belief that education is a key driver of success in business and life. I highly recommend it to anyone who shares this passion for learning.
The content of this article does not reflect the official opinion of Edgar, Dunn & Company.
The information and views expressed in this publication belong solely to the author(s).
Volker is a Director in EDC’s London office and is responsible for the Merchant Acquiring / Payment Acceptance practice of EDC. Volker is working as an advisor in the payments industry for over 20 years mainly in Europe and the Middle East. He has advised many industry players on strategy development, operational models and benchmarking as well as financial analysis. Volker has also worked on many commercial due diligence engagements for strategic and financial investors and has supported sellers in preparing documentation needed for IPOs or investor presentations. In his spare time, Volker is trying to reduce his golfing handicap (so far unsuccessfully).