Bruce Parker, ModoPayments: Payments data is unique from other types of data as it has special security and compliance requirements
How did the idea behind ModoPayments start?
Modo started with a missed opportunity. Bruce Parker, a payments and business strategy expert for some of the largest financial companies in the world, was never called into a meeting to give a report to his former employer on the future impact of mobile payments. Bruce set out to use his findings to solve digital payments problems with a company of his own. Modo was officially founded in July 2010. After spending 5 years “chasing the mobile payments dragon”, our business has evolved to focus on facilitating the exchange of payment event data and helping our clients become payment event driven.
In what geographies and markets does Modo operate, and what are its flagship products and main business partners?
Modo is currently conducting payment event data for some of the most well-known and respected players in payments and commerce in the US and Europe, including Bank of America Merrill Lynch, Klarna, Verifone, Alliance Data, and FIS.
Currently our service offering focuses on 3 types of payments events:
Payout events: Enable your corporate customers to send money globally using the ever growing number of digital wallets to accelerate the last mile of disbursements.
Loyalty events: Earn and burn loyalty in entirely new ways, in entirely new experiences. Combine multiple rewards and loyalty programmes to make a purchase or send a gift.
Checkout events: Checkout anywhere using any method of payment. Whether you are a merchant or a payment provider, offer consumers any way to pay.
Read more about the importance of security and interoperability in the full interview here.