Weekly Newsletter - 10.30.2024

Thredd Releases Guide for U.S. Payments Market Expansion

Author

Zihan Lyu
October 30, 2024 • Estimated Reading Time: 4 minutes

INDUSTRY INSIGHTS 🌐

Pay-by-bank, or account-to-account payments, is gaining traction due to open banking, real-time payments, and cost benefits over card payments. Major projects by Walmart and others are set for 2025, supported by regulatory changes. This trend is expected to grow, impacting U.S. payment methods significantly.

Thredd has released a guide for fintechs and program managers entering the U.S. payments market via BIN sponsorship. The guide offers insights into regulatory requirements, key parties, and market strategies. Thredd's expertise supports global expansion with reliable, scalable solutions, certified by Visa and Mastercard, ensuring successful market entry.

The article emphasizes the benefits of sales enablement for fintech startups, focusing on content, technology, training, and reporting. It highlights the importance of customizing sales content, leveraging automation, implementing structured training, and using reporting to align sales strategies with product development, ultimately enhancing sales effectiveness and growth.

INDUSTRY NEWS 📰

The Bank Policy Institute and others sued the CFPB over its open banking rule, claiming it exceeds authority and risks data security. The rule mandates banks share consumer data with third parties, limiting banks' discretion. The lawsuit seeks to halt the rule, citing safety concerns.

California mandates registration for debt settlement, earned wage access, private education financing, and student debt relief firms by February 15, 2025. This temporary four-year registration aims to enhance consumer protection and industry oversight. The initiative encourages responsible innovation and fair competition, with future legislative review determining its continuation.

EVENTS 📆

Join sales enablement expert Roderick Jefferson from @Roderick Jefferson & Associates as he explores "Ever-Boarding" -- a continuous process for developing and upskilling sales professionals.

Date and Time: Nov 13, 2024 (Wednesday), 6 PM GMT / 2 PM ET

You'll learn:

  • How AI can help you provide personalised coaching to sales reps based on their individual strengths and weaknesses, analysing calls, emails, and meetings to identify areas for improvement

  • How to build a culture of continuous learning and development by using AI-powered tools to deliver knowledge bites and reinforce best practices

  • How to design a data-based process that removes time blockers and accelerates the ramping up of sales reps