1 day Ago By Lauren Hinton
The US Payment Market is Shifting. That’s according to Alex Benjamin, Aevi’s Head of Business Development, who spoke to us at Money20/20 USA about the growing potential for payments innovation in the US. Aevi are on a mission to simplify in-person payments by digitizing the entire value chain, from terminal to software management.
We hear about what is needed to help payment processors thrive and how they’re leveraging data to provide a better service to merchants. It’s always great to catch up with Aevi and get an update on how they’re supercharging payments orchestration. You can watch more interviews with Aevi here .
According to Alex Benjamin, Aevi’s mission is to transform the in-person payments experience by digitizing and streamlining the entire value chain. You can read more about that, when we spoke to Alex for the recent Paytech Magazine , where he expanded on how the POS is changing. Their comprehensive approach allows Aevi to tackle the complexities of legacy hardware and infrastructure, enabling companies to deliver cutting-edge, embedded payment experiences on a global scale.
By owning the entire value chain, Aevi ensures that its clients are equipped to modernize their operations while navigating the intricate demands of the payments industry. We were pleased to hear more about the benefits of payments orchestration, which is a huge growing area that could reach $4.83 billion by 2032 .
Aevi’s payment orchestration platform offers clients unparalleled flexibility and long-term operational stability. The platform supports seamless transitions for merchants, such as integrating new processors or working directly with networks like Visa, without disrupting existing infrastructure. This dynamic capability empowers Aevi’s clients to align their payment strategies with long-term industry trends.
It’s a significant competitive advantage in a market where disruption often hampers innovation. By focusing on minimizing downtime and ensuring smooth transitions, Aevi enables businesses to remain agile in a rapidly evolving payments landscape. There were also some thoughts about adapting to biometric and new technologies.
As biometric authentication gains traction, Benjamin emphasized the importance of adopting a software-first approach. This flexibility of biometric solutions and APMs in their platform enables banks and payment processors to enhance their offerings without being constrained by hardware limitations. It’s no secret that the U.
S. lags behind other regions in adopting payment innovations, and customers are typically reluctant to move beyond traditional methods. As for what the innovation looks like at the moment, Benjamin pointed to the prevalence of short-term solutions focused on immediate revenue generation.
Unlike Europe, where a mix of international and localized payment schemes fosters innovation, the U.S. has traditionally leaned on simpler payment types.
But in good news, this is beginning to change, with the rise of platforms like Cash App, Venmo, and PayPal at points of sale. Benjamin highlighted that flexibility and access to data are crucial for U.S.
payment processors aiming to capture emerging opportunities. Aevi’s platform addresses this need, enabling processors to support a wide variety of payment types while leveraging data to enhance merchant services. Along with some thoughts on the role of APIs, we also get Benjamin’s insights on the future of payments, which Aevi hopes to be a part of.
Whether Aevi enables seamless transitions for merchants, integrating cutting-edge technologies like biometrics, or empowering businesses with data-driven insights, Aevi is setting a benchmark for what payment orchestration can achieve. To get more great insights from Money20/20, head to our website ..
