The integration of financial products and services into digital ecosystems is transforming commerce.
“With the advancements of technology and the platforms businesses rely on to run their operations, they are looking to integrate financial products to give their customer base more value,” Ben Griefer, COO at Maverick Payments, told PYMNTS for the series “What’s Next in Payments.”
“On the flip side, it ultimately drives more revenue,” he added.
While historically, non-financial platforms and applications were hesitant to venture into financial services, steering clear of payments, banking products and lending due to the complexities involved, these barriers have diminished as turnkey technology marches on.
The term “embedded finance” can include anything from offering loans at the point of sale to providing insurance within a product…
