In this bonus third episode from Pay360, recorded live at ExCeL London, we bring together four more leading voices from across the payments ecosystem to unpack the technologies, risks and innovations shaping the industry’s next chapter. Graham Barrett spoke with: 1/ Simeon Miles, Senior Partnership & Global Schemes Manager, Netcetera 2/ Subramaniam Sundaram, Senior Director, Head of Solutions Management, Pismo 3/ Willem Wellinghoff, UK Chair and Chief Compliance Officer, Ecommpay 4/ Luc Gueriane, CEO, Moorwand Across the conversations, they explore how organisations are responding to the rapid rise of AI‑driven fraud, the shift toward instant payments, and the pressure to modernise legacy infrastructure. Our guests share practical perspectives on authentication, tokenisation, regulatory change, and the emerging world of agent‑driven commerce. Recorded on the show floor, this episode captures the energy and urgency of Pay360, offering a concise snapshot of the trends, risks and opportunities that will define the future of payments. Simeon Miles, Senior Partnership & Global Schemes Manager, Netcetera with Simeon Miles, Senior Partnership & Global Schemes Manager, Netcetera Simeon Miles outlines the major themes emerging at Pay360, with a strong focus on fraud prevention, authentication and the increasing role of AI. He highlights the importance of a multi layered approach to security, combining richer data, intelligent decisioning and new technologies such as passkeys and tokenisation. A key concern remains authorised push payment fraud, which continues to present a significant challenge despite industry efforts. Simeon notes that while progress is being made, fraudsters constantly evolve their tactics, requiring continuous innovation to stay ahead. He also points to the growing role of global card schemes in applying their expertise from card payments to instant payment environments. With access to vast data sets, these organisations are well positioned to identify emerging fraud patterns and support customers in new areas. As instant payments expand across Europe, Simeon emphasises the need to apply lessons learned from existing payment systems. He suggests that technologies such as payment passkeys, alongside AI driven insights and industry collaboration, will be essential in managing the increased risk. Looking ahead, he identifies ongoing developments such as tokenisation and the potential decline of manual card entry as key steps in strengthening payment security. Overall, he describes the current period as the most dynamic and innovative phase the payments industry has experienced. Subramaniam Sundaram, Senior Director and Head of Solutions Management, Pismo with Subramaniam Sundaram, Senior Director, Head of Solutions Management, Pismo Subramaniam Sundaram challenges traditional thinking around legacy systems, arguing that legacy does not necessarily mean outdated or ineffective. Instead, he reframes the concept as constrained systems, where the real issue arises when technology no longer delivers value or flexibility. He advocates for a balanced approach to transformation, cautioning against both superficial upgrades and full scale replacement. Rather than rebuilding everything, he recommends a gradual modernisation strategy, integrating what works while evolving areas that limit progress. Subramaniam emphasises the importance of future planning, advising organisations to think in five to ten year horizons while remaining adaptable to rapid technological change. He highlights the benefits of cloud native, API first architectures in enabling this flexibility. Following Pismo’s integration into the Visa ecosystem, he notes enhanced capabilities through access to global networks, fraud solutions and increased regulatory credibility. This combination allows for more comprehensive and resilient offerings to clients. On agent driven commerce, Subramaniam envisions a future where AI agents handle routine tasks such as bookings and transactions, while humans remain involved in more complex decision making. He sees this as an opportunity for businesses to scale more efficiently rather than a threat to human roles. He concludes by stressing the convergence of AI, embedded finance and modernised core systems. For organisations to succeed, these three elements must work together, supported by infrastructure capable of handling increased speed and complexity. Willem Wellinghoff, UK Chair and Chief Compliance Officer, Ecommpay with Willem Wellinghoff, UK Chair and Chief Compliance Officer, Ecommpay Willem Wellinghoff highlights the importance of collaboration within the payments industry, noting that events like Pay360 bring together regulators, merchants and technologists to foster open dialogue and shared understanding. In his role on the Payments Association advisory board, he aims to strengthen advocacy and amplify the industry’s voice, helping to influence policy and regulatory development. He also emphasises the importance of inclusion, sustainability and resilience as core principles. A key topic discussed is the reliance on major card networks, with Willem pointing out the significant concentration risk posed by dependence on a small number of global providers. He stresses the need for alternative infrastructure to ensure resilience and sovereignty in payments. On compliance, Willem reframes the function as revenue protection rather than business prevention. He explains that effective compliance requires clear communication, strong understanding of business operations and scalable systems that support growth while managing risk. Addressing fraud, he identifies a shift towards more human driven and organised activity. Fraud is increasingly delivered as a service, with coordinated groups leveraging AI to exploit vulnerabilities. This evolution makes fraud more sophisticated and harder to combat. He also highlights emerging challenges such as verifying identities in an agent driven world, where distinguishing between human and automated actors becomes more complex. Willem concludes by calling for greater collaboration across trade associations and closer engagement with regulators and government to address industry challenges collectively. Luc Gueriane, CEO, Moorwand with Luc Gueriane, CEO, Moorwand Luc Gueriane describes Moorwand’s role as an enabler within the payments ecosystem, supporting fintechs by bridging the gap between front end innovation and underlying banking and processing infrastructure. He reflects on the challenges of regulatory change, noting that while regulation is well intentioned, its practical application can be complex. Fintechs must interpret and implement rules across diverse use cases while maintaining alignment with the original intent. Luc suggests that the industry has an opportunity to engage more proactively with regulators, ensuring that regulation is applied intelligently and reflects real world scenarios. On scalability, he explains that different parts of the payments ecosystem scale in different ways. While core infrastructure such as payment schemes can achieve high levels of standardisation, more bespoke fintech solutions require flexibility and tailored integration. He describes the fintech landscape as a complex puzzle, with many organisations offering overlapping services. Success, he argues, depends on clearly understanding and communicating a company’s unique value proposition. Luc warns that many fintechs risk failure if they attempt to do too much without a clear focus. Those that succeed will be the ones that identify their strengths, differentiate effectively and avoid becoming generalists without a competitive edge. He concludes by highlighting the challenge of navigating a crowded and rapidly evolving market, where identifying meaningful innovation amid noise is increasingly difficult. Key Takeaways Across these interviews, several consistent themes emerge: Fraud is becoming more sophisticated and human driven, requiring layered and adaptive defence strategies AI is both an opportunity and a risk, shaping authentication, decision making and fraud tactics Modernisation must be strategic, balancing innovation with the value of existing systems Regulation remains complex, with a need for clearer collaboration between industry and policymakers Differentiation is critical in fintech, as competition intensifies and the market becomes more crowded Together, these conversations reflect an industry at a pivotal moment, balancing rapid innovation with the need for resilience, clarity and trust. PRCA members receive 10 CPD points for listening to this podcast if they log it on the CPD programme. View episode
Inside Pay360: Fraud, AI, and the Future... Inside Pay360: Policy, Modernisation & A... Inside Pay360: Digital Wallets, Agentic ... Innovation, Trust & the Future of FinTec...
Redefining luxury hospitality at the Ara... Money20/20 Europe 2023 - Part 3 of 3 Money20/20 Europe 2023 - Part 2 of 3 Money20/20 Europe 2023 - Part 1 of 3
Mental Health & Wellbeing in the workpla... Suicide Prevention - How employers can p... Mad World 2021 - Part 2 of 2 Mad World 2021 - Part 1 of 2