Interview: Could your car pay for its own parking?

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Jennifer Duke: Welcome to the Fear and Greed business interview. I’m Jennifer

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Jennifer Duke: Duke.
There’s a tremendous amount going on right now in

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Jennifer Duke: the payment space. Technology is leaping ahead, much of it

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Jennifer Duke: driven by advances by Apple with their Apple Pay offering.

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Jennifer Duke: But all of the big banks are now involved and

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Jennifer Duke: they’re partnering with other companies to keep innovating or pursuing

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Jennifer Duke: a share of the point of sale market.
One of

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Jennifer Duke: the major players is ANZ Worldline Payment Solutions. This is

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Jennifer Duke: a joint venture between ANZ Bank and global payments leader

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Jennifer Duke: Worldline. The CEO of ANZ Worldline Payment Solutions is Petr

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Jennifer Duke: Ryska.
Petr, welcome to Fear and Greed.

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Petr Ryska: Hello. Good morning.

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Jennifer Duke: Good morning. So before we talk specifically about what you’re

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Jennifer Duke: doing in this space, can you give me the lay

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Jennifer Duke: of the land? Is Apple the one that’s setting the

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Jennifer Duke: pace here?

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Petr Ryska: Well, I think this kind of new technology, as you

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Petr Ryska: were mentioning, that’s exactly what is moving right now with

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Petr Ryska: the payment industry. And, of course, we have seen this

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Petr Ryska: also during the pandemic and I would say overall in past

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Petr Ryska: couple of years, these smartphones, they have been really moving

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Petr Ryska: the whole thing forward. And actually the tap to pay,

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Petr Ryska: which is how Apple calls this, that’s again a next step,

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Petr Ryska: how to bring the payments and little bit enlarged whole area.

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Petr Ryska: What I really like about this proposition is that it’s

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Petr Ryska: really simple. It’s very easy to get it actually. You

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Petr Ryska: can already download the application, you can connect your device

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Petr Ryska: and basically within 15, 20 minutes you can already start transacting

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Petr Ryska: and start accepting the payments. The next thing, which is

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Petr Ryska: also very, very great is that basically the portfolio of

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Petr Ryska: the potential customers. It’s very broad. So on one hand,

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Petr Ryska: of course, we see this as a great proposition for

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Petr Ryska: small SMB (Small and Medium size Business) players, for tradies. Basically you don’t need to

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Petr Ryska: have any other devices. You just use your phone and

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Petr Ryska: basically you can accept payments. But we also see it,

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Petr Ryska: let’s say going a little bit more to the enterprise sector.

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Petr Ryska: For example, if you talk about transportation or logistic companies

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Petr Ryska: where again, the companies, they don’t need to equip the

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Petr Ryska: drivers with different devices. They can just use one device.

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Petr Ryska: But also we see this really as a great proposition

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Petr Ryska: for the large enterprise customers, mainly retailers, because you can

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Petr Ryska: basically integrate the solution into your hardware in the shop and,

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Petr Ryska: of course, you can make the checkout of your customers

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Petr Ryska: much faster. So that’s why I really like it because

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Petr Ryska: it’s so broad and it’s really very easy to use.

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Jennifer Duke: And we’ve obviously seen this huge flow of activity recently,

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Jennifer Duke: and some of that is clearly this advance in technology.

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Jennifer Duke: But what else have you seen changing?

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Petr Ryska: Well, I think, as I was mentioning, during the COVID

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Petr Ryska: and past the COVID, we have seen a lot of

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Petr Ryska: this digitalisation and acceleration in digital payment. Definitely Australia is

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Petr Ryska: one of the, I would say even maybe top three

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Petr Ryska: countries in the world, talking about the contactless and, of course,

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Petr Ryska: talking about adopting of the new technology. At least that’s

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Petr Ryska: my perception that Australia is very, very advanced. So yes, during

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Petr Ryska: the COVID, that was the contactless thing. Look, I mean

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Petr Ryska: if you go to the shop, most of the people

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Petr Ryska: you already see they are using their phones, watches or

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Petr Ryska: other wearables to pay today. Of course, there was a

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Petr Ryska: huge increase of the e- com, especially online in the pandemic,

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Petr Ryska: which is now turning more into the omnichannel solution because people,

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Petr Ryska: they are really also going back to the store and

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Petr Ryska: they would like to have this omnichannel experience. But there are

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Petr Ryska: a lot of new trends, just mentioning a couple of them.

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Petr Ryska: The first one is definitely the other things about all the biometry.

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Petr Ryska: So all these face IDs, fingerprints and identifications, which I

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Petr Ryska: believe at some moment of time this can really end

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Petr Ryska: up in something we call invisible payments. We’re using this

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Petr Ryska: artificial intelligence. So just imagine once you just enter the shop,

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Petr Ryska: you pick up your goods and then you basically pay with

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Petr Ryska: your body based on some behaviour. But to stay a

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Petr Ryska: little bit more on the ground for this moment, we see a lot of

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Petr Ryska: the other trends like the metaverse or the crypto or

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Petr Ryska: these digital currencies. That’s really what is now, let’s say, coming. The

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Petr Ryska: thing is that we can see a little bit pieces

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Petr Ryska: here and there, and I think it’s just question of

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Petr Ryska: time and little bit about the scaling that we will

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Petr Ryska: experience this much more.

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Jennifer Duke: So personally, I think it sounds very cool to be

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Jennifer Duke: able to pay with your body on the way out

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Jennifer Duke: of a shop. That sounds amazing, but we obviously see

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Jennifer Duke: a lot of people quite concerned about cybersecurity at the

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Jennifer Duke: moment. How do you think that that’s going to be

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Jennifer Duke: a bit of a friction in this space?

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Petr Ryska: Yeah, I think it’s very important element, to be honest,

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Petr Ryska: and I always simplify it and saying basically that the

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Petr Ryska: payment experience is about three S, which is the simplicity,

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Petr Ryska: speed, and security.
So really, I mean, the solution has

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Petr Ryska: to be quite easy for both, for the merchant and

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Petr Ryska: for the end customer. It should be quite fast because,

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Petr Ryska: of course, talking about, for example, the experience in the

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Petr Ryska: shop. You just would like to make the quick checkout

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Petr Ryska: and you don’t want to download something and jump from

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Petr Ryska: one solution to the other and so on. And security,

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Petr Ryska: that’s what you mentioned, I think it’s very important part.

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Petr Ryska: To be honest, some of these new technologies, they are

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Petr Ryska: now really facing this issue with this security thing, but

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Petr Ryska: also with the data storing. I would say especially in

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Petr Ryska: Europe, the European Union is a little bit more prudent on

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Petr Ryska: this one. So there is little bit also the legislative

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Petr Ryska: background that need to be developed in some of the

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Petr Ryska: countries to basically move on with these technologies.

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Jennifer Duke: Stay with me, Petr, we’ll be back in a minute.

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Jennifer Duke: I’m speaking to Petr Ryska, CEO of ANZ Worldline Payment

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Jennifer Duke: Solutions. Clearly, everyone in the world is sort of thinking

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Jennifer Duke: about this sector and in Australia it’s getting very busy.

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Jennifer Duke: You’ve got a very competitive job. So how do you

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Jennifer Duke: differentiate yourself from the rest in this sector?

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Petr Ryska: Well, I think the big advantage for us is that

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Petr Ryska: we are really having this very, very big and global

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Petr Ryska: company as one of the shareholder Worldline really presented in

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Petr Ryska: more than 50 countries around the globe, and we are

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Petr Ryska: spending a huge amount of money in the research and development.

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Petr Ryska: Last year, for example, the R&D spendings in Worldline globally was

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Petr Ryska: more than $400 million, just to give you the imagination.

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Petr Ryska: So that’s one thing, to have the proposition and, of course,

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Petr Ryska: to follow the trends. And again, just naming couple of them,

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Petr Ryska: one of the pilots we are running right now, going

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Petr Ryska: now more to, let’s say, online world is the livestreaming e-commerce,

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Petr Ryska: which is a kind of interactive way of online shopping

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Petr Ryska: that basically you combine shopping, entertainment and kind of social experience.

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Petr Ryska: So there is a merchant and, of course, some of

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Petr Ryska: the influencers, they’re hosting the live videos and basically they’re

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Petr Ryska: interacting with the consumers. And at the end, of course,

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Petr Ryska: the target is that you make the shopping. So as

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Petr Ryska: my daughter is always saying, I’m from the last century already,

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Petr Ryska: but let’s say for the young generation it’s a different

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Petr Ryska: way of shopping basically, that they are chatting to someone,

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Petr Ryska: they’re having some influencer there, and it’s more like socialising

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Petr Ryska: together with the shopping. So that’s another example how the

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Petr Ryska: things are moving forward. So going back to your question,

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Petr Ryska: it’s really about having the proposition, but also, of course,

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Petr Ryska: about having a kind of customer experience that is good

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Petr Ryska: for the customers, which again, we are going back to

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Petr Ryska: the digitalisation and digital journey to make it as simple

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Petr Ryska: as possible for the customer basically to get the solution

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Petr Ryska: and start transacting.

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Jennifer Duke: I actually find that fascinating about the new generations because

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Jennifer Duke: we were always sort of told that digitization would make

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Jennifer Duke: shopping much less social experience. There was going to be this

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Jennifer Duke: very bleak future where you never speak to anyone anymore

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Jennifer Duke: when you buy anything. But it sounds like it’s actually

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Jennifer Duke: going to be the opposite of that.

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Petr Ryska: Well, I would say that the thing is that we

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Petr Ryska: do prefer to talk face-to-face to someone and the young generation,

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Petr Ryska: perhaps they’re okay to use these, let’s say, new technologies

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Petr Ryska: to be more socialised there, which is exactly the example

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Petr Ryska: of the livestream e-commerce.

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Jennifer Duke: And what’s sort of next in this space? How does

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Jennifer Duke: maybe crypto fit into this sort of payment platform?

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Petr Ryska: Oh, crypto. It’s definitely, I think, we are exploring also

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Petr Ryska: here in Australia and, to be honest, this is the

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Petr Ryska: solution or the proposition we are offering to our merchants

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Petr Ryska: already in Europe as a Wordline for a couple of

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Petr Ryska: years, regardless if that’s, let’s say, in store or if

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Petr Ryska: that’s online. And yeah, this thing with crypto and the

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Petr Ryska: digital currencies, I think that’s the next thing to come.
The other

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Petr Ryska: one I was mentioning was the metaverse where again, I

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Petr Ryska: mean, you can really see the huge brands and the

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Petr Ryska: big brands, world brands are investing a lot of money

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Petr Ryska: into this space. Again, we are very proud as ANZ

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Petr Ryska: Worldline that we have already the Australian merchants that are

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Petr Ryska: live in this platform. And yeah, is this going to

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Petr Ryska: be the next big thing? Well, we will see.

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Jennifer Duke: Yeah. We do know that the federal government’s looking at

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Jennifer Duke: a lot of regulation around this space. Are you concerned

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Jennifer Duke: at all that they’re going to go perhaps too far

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Jennifer Duke: and stop the innovation?

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Petr Ryska: I’m not afraid they will stop the innovation, but I

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Petr Ryska: would really say, as I was mentioning before, that this

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Petr Ryska: should go hand in hand. So you need to have

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Petr Ryska: a legislative, let’s say, background for some of the new solutions.

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Petr Ryska: And it’s not only about the security itself, it’s also

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Petr Ryska: sometimes about the data storing and so on.

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Jennifer Duke: And there’s a lot of, I suppose, smaller businesses who

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Jennifer Duke: are constantly having new tech thrown at them and having

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Jennifer Duke: to get across it and learn how to use it.

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Jennifer Duke: Is there any concern that they’re going to be left

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Jennifer Duke: behind as these payment platforms become more sophisticated?

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Petr Ryska: No, I don’t believe so. I think vice versa. I

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Petr Ryska: strongly believe that those SMBs, they will benefit basically from

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Petr Ryska: this. And once again, maybe the tap on mobile. It’s

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Petr Ryska: a good example that basically those are the solutions that, at the

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Petr Ryska: end, the SMBs can benefit. So I’m not afraid they

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Petr Ryska: will be left behind. Vice versa, I think there will

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Petr Ryska: be much more basically also available for the SMBs in

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Petr Ryska: the future.

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Jennifer Duke: One more question because I’m very curious about this, but

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Jennifer Duke: the innovations that you are coming up with, are they

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Jennifer Duke: sort of led by what you think consumers want? Is

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Jennifer Duke: that something that you sort of survey them and see

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Jennifer Duke: how they want to behave with the tech? Or is

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Jennifer Duke: this sort of driven by the retailers? Or where do

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Jennifer Duke: these ideas come from?

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Petr Ryska: I would say that, of course, sometimes you will end

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Petr Ryska: up with some solution or proposition that is not perceived well

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Petr Ryska: on the market and it’s not really resonating. And I

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Petr Ryska: don’t want to make any examples, but maybe one of

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Petr Ryska: them is the payment ring.

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Jennifer Duke: Yes.

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Petr Ryska: So, I mean, that was a huge thing to introduce the

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Petr Ryska: payment rings. But basically now if you look who is

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Petr Ryska: really using this, I mean, the usage is very limited,

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Petr Ryska: at least in my eyes. But sometimes it’s a combination. But,

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Petr Ryska: of course, the way forward should be definitely that you

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Petr Ryska: need to understand the customers, you need to have a

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Petr Ryska: dialogue with the customers. In our case, it’s basically both.

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Petr Ryska: It’s the merchants and the end customers because, as I said,

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Petr Ryska: the solution should be safe, easy and simple for both

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Petr Ryska: of them. Then basically on the other hand, you have

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Petr Ryska: some global trends that are coming and if you are

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Petr Ryska: combining this, well, I mean, you have the winning proposition.

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Petr Ryska: Maybe the next thing I was not mentioning before, but

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Petr Ryska: it’s also something I’m very excited about and it’s about

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Petr Ryska: this artificial intelligence and little bit there. We call it

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Petr Ryska: the machine-to-machine. So basically machines talking to machines that call

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Petr Ryska: it like this. One of the example is, look, if

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Petr Ryska: you look today on your car, most of the cars,

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Petr Ryska: they can actually park themselves. They can park automatically today.

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Petr Ryska: And it’s not a big thing to add a cart

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Petr Ryska: into your car and some of the producers, by the way,

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Petr Ryska: they started doing this already. The next step is basically

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Petr Ryska: that your car is not only able to park, but

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Petr Ryska: it’s also able going to pay for the parking.

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Jennifer Duke: Oh, that’d be amazing.

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Petr Ryska: So your car is going to talk to the machine on

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Petr Ryska: the park lot and basically they will talk to each

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Petr Ryska: other and they will make the payment. Yeah.
Also in

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Petr Ryska: this space, Wordline is basically having a kind of solution,

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Petr Ryska: having one platform today in Europe with real life customers

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Petr Ryska: where basically you can really connect your car with fueling,

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Petr Ryska: EV charging and then stuff like that. So I think

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Petr Ryska: that’s the next big thing which is coming as well.

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Jennifer Duke: I love that. I’m hoping that the next time we

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Jennifer Duke: speak to you, we’ll be talking about the cars paying

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Jennifer Duke: the bills through the drive through. Which would be incredible.

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Petr Ryska: It might take some time, but yeah, I still believe I

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Petr Ryska: can experience this in my life.

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Jennifer Duke: Fingers crossed. Petr, thank you so much for talking to

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Jennifer Duke: Fear and Greed.

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Petr Ryska: Thank you very much.

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Jennifer Duke: And that was Petr Ryska, the CEO of ANZ Worldline Payment

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Jennifer Duke: Solutions.
This is the Fear and Greed business interview. Join

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Jennifer Duke: us every morning for the full episode of Fear and

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Jennifer Duke: Greed, Australia’s best business podcast. I’m Jennifer Duke, economics correspondent

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Jennifer Duke: at Capital Brief and filling in for Sean Aylmer. Have

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Jennifer Duke: a great day.