How 2022 Will Transform Your Treasury Department
In the last 12 months, we have seen unprecedented amounts of changes to bank fee reporting due to bank mergers, system upgrades, bank fee rationalization projects, and the new AFP2020 Service Code rollout. How do you prepare your billing systems to manage these changes to your pricing agreements and confirm their impact on your bottom line? Depending on your vendor, this responsibility may fall on you. Watch our webinar hosted by our experts Bridget Meyer and Dave Strand to find out if your software is ready.
In preparation for our upcoming webinar on Thursday, June 9th, 2022, we decided to dig into the Redbridge archives and highlight articles relevant to the topic of bank fee monitoring.
Banks and credit card companies sparred with consumer advocates and merchant representatives at a Senate hearing on interchange fees, the fees charged to merchants – and ultimately customers – for using credit cards. The hearing was led by Sen. Dick Durbin, Democrat of Illinois, with a panel of witnesses comprised of consumer advocates and executives from banks and credit card companies.
The card brands – Visa, MasterCard, Discover and American Express – make changes to their interchange rates and fees twice a year, usually in April and October, and are generally non-negotiable. This article highlights the major changes introduced in April 2022. Unless otherwise noted, all of these changes are effective 4/22/2022.
While the last few years have created significant changes in the treasury landscape with a rapid push towards digitalization (e.g. the resurgence of the QR code), the pace of change within the depository environment is better described as a slow and steady march.
In March, Tom Hunt, Director of Treasury Services at the Association of Financial Professionals (AFP) hosted a webinar about determining the true cost of payments. He was joined by Mark Penserini (Corpay), David Deranek (Health Care Service Corporation) and Bridget Meyer (Redbridge).
“Buy Now, Pay Later”, or BNPL, is not a new concept, but it has gained more popularity now than ever before. Gabriel Lucas and Hector Galvan, from Redbridge, discuss the benefits, the drawbacks and the future of deferred payments from a retailer’s perspective.
Buy now, pay later is becoming an increasingly popular payment channel for merchants and consumers alike. As the name suggests, buy now, pay later transactions allow consumers to purchase an item and pay for it later, usually in a series of installments. While this payment channel is growing in both popularity and acceptance, there are still some questions merchants need to ask before setting up such a program of their own.
Almost eight in ten MT 103 cross-border payment messages are now sent via GPI, making Swift’s initiative to improve the level of banks’ services in cross border payments a great success. However, will the rise of new technologies such as blockchain and cryptocurrency now challenge Swift’s dominance in the cross border payments field?
Although the COVID-19 has strengthened e-commerce sales, which already experience meaningful year-over-year growth, brick and mortar retail continues to maintain relevance. According to the U.S. Department of Commerce statistics, E-commerce increased 6.8% in Q3 2021 while offline sales grew 11.5% in Q3.
At a recent conference dedicated to cash management in the US, Sarah Gundle, project manager at Redbridge, presented the three differences that always surprise European treasurers conducting their first operations across the Atlantic – Interview.
Banks invest to improve and digitalize both their internal processes and their customer offers. Even so, there are still huge differences among them, as all banks did not start this race at the same point and do not move at the same speed, write Samatha Felipe-Lopez and Wesley Johnson.
Despite the importance of cashflow forecasting for a company’s investment and financing decisions, a majority of companies still rely on a single technology – Excel spreadsheets. Solène Moyne, senior analyst at Redbridge, reviews the capacities of the different cash flow forecasting systems and tools currently on the market.
Angie Grunte, Managing Director at Redbridge, gives her insights on outsourcing the payment acceptance strategy and the many benefits that come along with it.
In record time, banks appear to have stepped up and deployed much-needed liquidity to global commodity traders, especially to metal traders affected by unseen circumstances in the LME (London Metal Exchange). For Mihai Andreoiu, Senior Director at Redbridge, the current crisis re-surfaces some older questions, like can commodity traders keep relying mainly on bank (uncommitted) lending?