Why Payments Should Be a Standalone Function: Breaking Away from IT and Finance Silos

In many organizations, IT or finance departments often manage payments. However, this structure can hinder payment operations' effectiveness, slow innovation, and create a disconnect between payment processes and broader business objectives. By establishing payments as a standalone function, organizations can develop specialized strategies that drive growth in both revenue and profitability. A dedicated payments team can focus on enhancing the customer experience, optimizing transaction flows, improving conversion rates, and expanding revenue streams through innovative payment solutions. Furthermore, separating payments from IT and finance enables organizations to adapt to emerging technologies quickly, ensure regulatory compliance, and mitigate fraud risks, all of which contribute to long-term profitability. This talk will explore how making payments a distinct function enhances operational efficiency and accelerates business growth by aligning payment strategies with organizational goals.

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