“Make it easier to pay and they will pay”
VIDEO | With trends like open banking and buy-now-pay-later, the topic of payments has quickly moved into the trendy circle in last years. A lively panel in Treasury 360° Nordic on Thursday take a look at what this actually means in the operations of corporates. Volvo Cars’ Anna Ehrenborg and Kongsberg Automotive’s Abraham Geldenhuys shared their perspectives, in talk with Johan Fagerström of JP Morgan.
The session was sponsored by JP Morgan.
Anna Ehrenborg – Senior Cash Manager, Consumer Payments, Volvo Cars – described how the payments are becoming central to the customer experience. Growing presence of subscription models such as Care by Volvo, replacing the customer’s one-off purchase, add to this. A choice in a mobile app can enable new functions in your car at a fee – in real time. (Read our recent detailed interview with Anna here.)
This feeds back into the operations and the banks too:
“I know you don’t like when I distinguish between banks and fintech,” said Anna Ehrenborg with a nod to session moderator Johan Fagerström, Head of Payments Nordics, JP Morgan.
“ … and maybe that merger is the future”, she acknowledged.
Abraham Geldenhuys agreed that good payments have a good capacity even to drive growth in the sales to customers, the top line.
“Make it easier to pay and they will pay”
Real time – for whom?
One of the frequent discussions in the treasury area is the idea of “real-time treasury”. Abraham Geldenhuys – Vice President Group Treasury of Kongsberg Automotive – tried to put it in a realistic context.
“Are we talking about money coming in or going out from the organisation. In the organisation we need to do a lot of things before we actually move the money. We need to make sure we pay the money to the right guy, and that is not going away. It is coming, there is no denying it. But my question is how applicable is it.”
So in combination with discussing the exact payment solution, Abraham Geldenhuys recommended a broader take.
“Make sure your house is in order … that your process up until where you want to make the payment is efficient.”
The session was titled “How payments are eating the world – Making sense of the digital revolution”.
Treasury 360° Nordic 2022, on 9 June, gathered nearly 300 delegates at Clarion Hotel Copenhagen Airport, and 100 online.
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