With leading cross-border innovators showing how they cracked the code on converting shoppers to buyers, the “From Global To Local” panel at Innovation Project last month proved to be one of the most exciting. PYMNTS caught up with panel member Lisa Shields, Founder of Hyperwallet, to get her insight on the key takeaways, the two biggest problems in cross-border payments from a regulatory perspective, and where she sees Hyperwallet and global payments in the next five years. Here’s what she had to say.
What was your No. 1 takeaway from the panel today?
LS: My No. 1 takeaway was that businesses are trying to figure out how to make global payments as simple and easy as local payments. There’s lots of discussion and debate, but the industry hasn’t figured it out yet.
What was the No. 1 thing you hoped to get across to the audience today?
LS: The No. 1 thing I hoped to get across was that on the type of business we serve, the pay outside of the business is actually from a regulatory standpoint different from global payment acceptance. I know the focus of the panel was about how businesses can go global, and it’s two ways – making and taking payments. To us, the payments industry is so complicated that there are two different problems from a regulatory perspective.
So at PYMNTS.com, we’re all about what’s next in payments and commerce. What’s next for Hyperwallet and your ecosystem in the next 2, 3 or 5 years?
LS: One of the questions that was asked was if you were starting your business today, would you be looking at bitcoin as predicating the innovation you were going to make. My answer would be no – what’s coming next for Hyperwallet is to augment our global ACH capability with a global faster payments capability.
What we plan to do is take the local faster payment networks around the world and interlink them. So where we see the future is global real-time payments.