On June 2nd in London, The Payments Association in partnership with the Payment Systems Regulator held a meeting with the industry representatives and policymakers to discuss key regulatory issues in the payments market.
Torus is a proud member of The Payments Association, an organisation that unites payment industry leaders and regularly hosts top-tier sector events. The main focus of the meeting was on the rising card scheme fees and the problems of insufficient fee transparency impacting local merchants and acquirers. Torus shared its expertise on the UK market, as we understand the nuances of payment systems in different countries and are available to financial institutions across more than 33 countries globally.
Acquirers face significant challenges managing card scheme fees, with available data often fragmented and difficult to analyze. This creates the need for accessible and in-depth analytics to help acquirers effectively address pricing issues.
In response to these challenges, Torus developed a SaaS intelligence platform for card issuers, acquirers, and BaaS providers, empowering them to make data-driven decisions and enhance profitability. Our platform tracks fees at the level of individual card transactions and identifies hidden opportunities to boost profitability. Torus has already helped save over $10 million in unwanted losses, and this is just the beginning!
At Torus, we believe that transparency will be the key driver of future payments market evolution, and we are happy to share our expertise with our colleagues.
