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London

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2008

Michael Kyritsis

Lead Solution Consultant at ACI

Message Posts: 0 Comments: 23

Michael is Commenting on

Greggs storefronts reopen after payment processing issues

"Sainsbury's and Tesco were also faced with an IT outage over the weekend" I know that Sainsbury's and Tesco use different payment gateways, so I think it's misleading to refer to it as "an" outage. So was it something else, an issue with their comms provider? Or one of the acquiring banks?

22 Mar 2024 Reply Read article

UK retailers lost £130 million in sales in first month of SCA rules

It's an eye-catching headline but is it really going to translate to a dip in merchant's profit & loss statements? I am sure that customers who want to buy an item and get a decline will try a different card, or perhaps PayPal for example. Or customers would become so frustrated with a site that they go to a different merchant, which is a lost sale for the first merchant, but a win for the second; and net zero for the UK industry overall. So the call-to-action should be for merchants to ensure that their payments provider is up-to-date with the latest mandated requirements because payments is not just a commodity, it can be a differentiator in the last small but vital step of capturing an online purchase.

19 Apr 2022 Reply Read article

Three things fintech gets wrong about customer support

Interesting data but wrong conclusion on point 1 "Our data indicate that during COVID-19 people started calling more regarding issues that could have been handled online — just to make sure their problems were definitely resolved." The conclusion that companies should hire more people that their customers can talk to doesn't solve the problem, which is that customers are fed up with generic answers like "your issue has been recorded and we're doing all we can to address it". Whether that comes from a chatbot, or whether someone reads it out to me from a script over the phone, it's not going to give me much assurance. Technology needs to enable meaningful communication from real people. e.g. The CSR should tell me "on average its taking 2 to 3 days before an engineer can look into your issue". And communication channels need to be kept open, e.g. the engineer should be able to add a note to the issue which sends me an email.

22 Mar 2021 Reply Read article

MPs call for backdated APP fraud reimbursements and Faster Payments delays

Is it in everyone's best interests to impose a 24-hour delay on all first-time transactions, irrespective of the amount. What impact would this have on VocaLink's Pay by Bank app, and similar eCommerce initiatives? I think the payee's bank should carry some of the risk, e.g. what is the history on the account (was it recently set up), is it receiving an unusually large number of payments, etc. and then those funds should be ringfenced incase of possible disputes. What kind of KYC was performed?

04 Nov 2019 Reply Read article