Denis Stark

VP Head of Technical Delivery

I have been working in the payment industry for 17 years. It includes13 years in OpenWay as a DBA, programmer, PM, BA, Trainer and consultant.  For the past 5 years I've been working in the biggest processing centers: 2011-2012 in EQUENS (the Netherlands), 2013-2014 in CETREL (Luxembourg), and starting from 2015 - NETWORK (UAE). 

What you see as key trends in your business?

There are obvious trends like bank consolidations under processing centers, decreasing profit margins, growing role of national payment systems. You can see that consumers are taking the driving seat in payment industry. and not payment schemes, nor banks, nor merchants - not anymore. So we see a decline for all products which are not for sustainable consumer benefit: DCC, credit cards, etc. There is a worldwide trend to shift from B2C to C2C (e-bay, airbnb, peer-to-peer micro loans). This definitely impacts the payment industry. Products like remittance, mobile POS, peer-to-peer micro-loans continue to grow. Long-term national currencies might start losing their role. So, global corporate currencies and local community currencies take their market share. Processing centers will adjust to it. The banks won't, as they are tightly coupled to national currencies. Banks' role will decline and processing centers will take a key role in XXI century payment business.

What inspires you in the payment industry?

Being a part of this worldwide transition (see above) from “money to control people” to “money to serve people”.

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