Mark is a Director in the London office and heads up the Retailer Payments Practice for EDC. He has over 25 years of experience of consulting strategy in the payments and fintech industries. Mark works with leading global merchants, and payment suppliers to retailers, to develop omnichannel acceptance strategies. He uses the 360° Payment Diagnostic methodology developed by EDC to identify cost efficiencies and new growth opportunities for retailers by defining an appropriate mix of payment methods, acceptance channels, innovative consumer touchpoints, and optimizing Payment Service Providers and acquiring relationships. Outside the payments and fintech industry Mark is a passionate snowboarder.
Mark Beresford (Director, London) and Martin Koderisch (Principal, London) supported the Payment Leader’s Summit (PLS-UK) which was held last month, 11th and 12th October, and hosted at Syon Park in west London. Mark Beresford (Director, London) summarises the event in this post-event article.
Pre-pandemic, merchants in Europe were falling over themselves to accept Chinese payment methods both in store and online. According to the World Tourism Organization (UNWTO), there were 141 million Chinese visits to Europe in 2019. Also, according to UNWTO, Chinese tourists spent an average of €1,919 per day in Europe in 2019, which is significantly higher than the average spending of other nationalities. The affluence of the Chinese middle class continues to grow rapidly, meaning the segment has more disposable income to spend on travel. In 2022 we only saw 25 million Chinese visits to Europe, representing a 44% compound decrease in visitor numbers between 2019 and 2022. As more global travel restrictions are relaxed, Mark Beresford (Director, London) has looked at the importance of accepting Chinese payment methods for merchants across Europe.
At the end of June 2023, buried in the GOV.UK website, there was a Memorandum of Understanding (MoU) establishing a framework for financial services regulatory cooperation between the European Union and the United Kingdom. Mark Beresford (Director, London) has investigated what this could mean for the payments and fintech industry on both sides of the English Channel and could this be the start of a gradual reversal of Brexit for the financial services sector?
EDC has diligently been tracking and maintaining a comprehensive database of Payment Orchestration Platforms (POPs) since April 2020. Over time, this database has evolved significantly, encompassing a wide range of both agnostic and full stack providers in the payment orchestration space. Mark Beresford (Director, London) and Tom Robins (Business Analyst, London) look over the last three years and describe what has changed in the EDC POP Database.
UK Finance has recently reported that Authorised Push Payment (APP) fraud was down in 2022 but it remains a persistent problem. Over £1.2 billion was stolen by criminals through authorised and unauthorised fraud in 2022. Could Open Banking introduce new avenues and potential risks that scammers could exploit and reverse the fall in APP fraud? Mark Beresford (Director, London) has asked the question - could Open Banking be an open door to more authorised fraud?
Did you know that consumers could use a different digital wallet for every month of the year. There is AliPay, Amazon Pay, Apple Pay, Google Pay, Masterpass, PayPal, Paytm, Samsung Pay, Shop Pay, Venmo, Visa Checkout and WeChat Pay. 12 wallets for 12 months! Mark Beresford (Director, London) has asked to the question - could all these different digital wallets confuse consumers and merchants. And, importantly, could there be one digital wallet for all your needs?