Internet of Things

Internet of Things, Machine Learning Will Push Payment Industry Forward, Creditcall CEO Says

Listen up payment provider community.

For Creditcall’s CEO Lars Pedersen, there are a number of factors propelling his company and the payment industry forward at breakneck speeds. There’s the increased digitalization of commerce, the continued pursuit of integration across channels, ever-increasing complexity, and more partnerships all playing a part. Then there’s the integration of technologies like the Internet of Things, machine learning, and artificial intelligence. It’s a challenge to keep up, Creditcall has embraced the challenge.
“We must embrace these new technologies and the resulting complexity so we can provide solutions that merchants can readily deploy to increase revenues, reduce costs, and gain greater insight into customer preferences and business logistics,” said Pedersen.

As a company that was just named to the London Stock Exchange Group’s 1000 Companies to Inspire Britain all while being 100 percent self-funded, payments provider Creditcall may just have that certain je ne sais quoi.

“The main reason we have been able to grow in a self-funded way is that we have a rigorous process for deciding what activity to take on,” said Pedersen. “As such, we say no to a lot of projects, and must make daily decisions as to what will have the most positive impact on our customers.”

It appears to be working. Creditcall saw astounding growth of 82 percent in its e-commerce, vending, ticketing and retail markets on a recurring monthly basis over the past 12 months. It also experienced a 60 percent increase in card present and not present connection to its gateway during that same time period. Additionally, the company saw a 300 percent increase in its Level 3 certifications, all the while boasting a 100 percent first-time pass rate.

Another key to Creditcall’s success is its vertical focus and plans for expansion.

“Creditcall’s current solutions are agnostic and function across many verticals and industry sectors,” said Pedersen. “Our primary focus in the near future is on geographical expansion and a number of new and very exciting partnerships. Through these partnerships, we will accelerate our growth and our market footprint will expand significantly into new territories including South America and APAC.”

While the payments industry continues its evolution in corporate, retail and commercial, long-term advances will likely depend on the digitalization of payment processing and the remaining commerce aspects.
“Our current focus is on advanced payment technologies that enable merchant solution providers to deliver true omni-channel solutions to their merchant customers. As markets develop, Creditcall will continue to do so, but in an expanded sense to include technologies like IoT for data sharing that will enable enhanced analytics and improved customer experiences.”

 

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