Robert Kraal, Co-founder, Silverflow
with Robert Kraal, Co Founder, Silverflow
Robert Kraal returned to the podcast to reflect on how merchant expectations around payments data continue to evolve. He noted that large merchants are increasingly demanding full transparency, expecting every transaction to be accounted for and clearly reported across the entire lifecycle.
Silverflow continues to serve three core customer groups. These include new acquirers such as payment service providers looking to build their own acquiring capabilities, established banks seeking more advanced technology, and large merchants or platforms requiring scalable and flexible infrastructure.
A key theme in his discussion was the growing importance of combining financial services with modern technology. Large merchants often maintain strong financial relationships with banks, but turn to payment providers for superior technology. He explained that partnerships between banks and technology providers can bridge this gap, offering both financial expertise and advanced processing capabilities.
He also highlighted a shift in banking attitudes, with institutions becoming more open to working with external partners rather than building everything in house. For Silverflow, collaborating with large banks such as ING has reinforced the strength of its technology and governance, particularly through rigorous due diligence processes.
Ugnė Buračienė, Group CEO, Payabl
with Ugnė Buračienė, Group CEO, Payabl.
Ugnė Buračienė shared insights from a panel discussion on the future of merchant payments, which brought together perspectives from merchants, card schemes and payment providers. Her key takeaway was that while there is strong interest in emerging technologies such as AI, adoption will take time and requires careful consideration of factors such as fraud and security.
She emphasised that payments are evolving beyond simple transaction processing towards full cash flow management. Merchants are increasingly looking for partners that can simplify operations and reduce complexity, rather than just enable acceptance.
Buračienė also highlighted the growing diversity of payment methods across Europe, noting that this creates additional challenges for merchants operating across multiple markets. Payment service providers have a responsibility to offer flexibility while reducing operational complexity.
On the relationship between banks and fintechs, she observed a significant shift from competition to collaboration. Banks are focusing on infrastructure and stability, while fintechs drive innovation and agility. For merchants, however, the priority remains simple. Solutions must work seamlessly without requiring deep understanding of the underlying partnerships.
Looking ahead, she expects gradual improvements rather than dramatic change, particularly in operational execution and service quality.
Alexander Luijt, Commercial Product Manager, ING
with Alexander Luijt, Commercial Product Manager, ING
Alexander Luijt provided a banking perspective on the evolving payments landscape. He described how the market has shifted from bank led services to a more technology driven ecosystem, with payment service providers introducing more flexible and user-friendly solutions.
He explained that banks are now re-entering areas such as online acquiring by partnering with specialist providers, rather than building solutions from scratch. ING’s collaboration with Silverflow reflects this approach, combining banking services with modern processing technology.
A key advantage for banks remains trust and stability, particularly for large corporates that rely on payments as a critical part of their operations. By acting as the primary contractual partner, banks can manage complexity on behalf of merchants while ensuring reliability and compliance.
He also noted that partnerships allow banks to experiment with new technologies more efficiently, reducing the need for large internal investments while still delivering competitive solutions.
Danish Kanojia, Payments Product Lead, Wolt
with Danish Kanojia, Payments Product Lead, Wolt
Danish Kanojia shared a merchant perspective, highlighting the complementary roles of banks and fintechs. Banks provide trust, regulatory support and stability, while fintechs enable speed, innovation and improved customer experience.
Operating globally, Wolt faces significant complexity when expanding into new markets. He described this as a modern Silk Road, full of both opportunity and challenge. Partnerships with banks and fintechs are essential in navigating local regulations and enabling rapid expansion.
He stressed the importance of data transparency, particularly for organisations operating with tight margins. Accurate insights into costs, settlement timing and foreign exchange exposure are critical for forecasting and decision making.
Fraud prevention remains a constant challenge, requiring a balance between security and user experience. Kanojia described this as a design challenge, where protection mechanisms should remain largely invisible to the customer while still providing robust security.
When evaluating partners, he emphasised alignment on customer experience and a shared commitment to seamless, high conversion journeys.
Vassilina Walford, Founder, PaymentVibes
Vassilina Walford, Founder, PaymentVibes
Vassilina Walford offered a broader advisory perspective, drawing on her experience in luxury retail. She described payments as a value chain that must be managed holistically, from customer experience through to back-end operations such as reconciliation and fraud management.
She highlighted the importance of balancing front end innovation with back-end efficiency. Without strong operational foundations, even the most advanced customer experiences cannot be sustained.
On payments data, she noted a shift from cost optimisation towards a more strategic role. Data is increasingly used to understand the full customer journey, improve conversion rates and support commercial decision making.
Expanding into new markets presents both regulatory and operational challenges, particularly for luxury brands where reputation and consistency are critical. She emphasised the need to balance global standards with local preferences.
Walford also reflected on the shift from bank dominated payments to a more fintech driven landscape. While merchants have gained in terms of user experience and innovation, the ideal approach is a balanced ecosystem that combines the strengths of both.
Her final observation focused on speed. Banks can be slow to adapt, while fintechs can move too quickly for merchants to absorb. The challenge lies in finding the right balance between stability and agility.
Closing Thoughts
Across the episode, a clear narrative emerges. The future of payments is not defined by banks or fintechs alone, but by how effectively they work together.
Merchants are seeking simplicity, transparency and reliability, while the ecosystem continues to evolve in response. The most successful players will be those who can combine innovation with execution, delivering solutions that not only advance the industry but also meet the practical needs of businesses operating at scale.
