In the Press
“Credit as a Service” debuted today from payments company MSTS to let online sellers provide their own branded lines of credit to buyers.
Payment and credit services provider MSTS today introduced a cloud-based service designed to let companies offer on-the-spot credit lines to online buyers that satisfy credit risk requirements. MSTS, a subsidiary of World Fuel Services Corp., has operated for decades in the payment and credit services industry. It handles about $5 billion in volume and provides clients with credit underwriting and risk management services in more than 190 countries.
In today’s world of everything-as-a-service, with technology increasingly moving outside IT’s direct control and most organizations striving for digital transformation, aligning IT strategy with business strategy looks very different than it did a few years ago. And success in this essential area is governed by a whole new rulebook. These are the three rules to make IT-business alignment work in today's world.
The consumer may be what makes for sizzle and sparks in the payments realm, grabbing headlines and headspace. But within B2B eCommerce, there are pockets ready for ignition. In the latest Topic TBD, PYMNTS’ Karen Webster spoke with Brandon Spear, president of MSTS, to get a sense of the challenges and opportunities tied to credit and payments amid a market that is three times the size of B2C. B2B eCommerce is primed for explosive growth, complete with sellers who are looking for better ways to find buyers, and buyers who want to find new places to go shopping.
Last year was a tough one for many retailers. There were at least 19 retail bankruptcies in 2017 including Toys “R” Us, Gymboree and Wet Seal. In early 2018, Sears announced it was shutting 39 Sears and 64 Kmart stores. Some in the press labeled it a “retail apocalypse.” In a large part, the movement has been attributed to e-Commerce. As consumers continue to shift to online retail, Forrester Research predicts that e-Commerce sales will jump from 12.9% of all retail sales in 2017 to 17% by 2022.
There could be a lingering question if your business is slowly eating away profits: Does your company have a billing and payment problem? Implementing payments and billing efficiently is vital to your business health, yet maybe something is broken and it’s impacting the way your business works today. Implementing payments and billing efficiently is vital to your business health, yet maybe something is broken and it’s impacting the way your business works today. In many cases, our everyday business lives come with so many varied challenges that the most important, foundational problems are ones hidden in the bedrock. Upgrades such as APIs and using closed-loop cards can help contain expense and ease user experience.