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Payments & More - Allyiz Show
Episode 4: Issuers, Acquirers and Schemes perspectives | Peter Bayley


Tune into this episode of the Payments & More podcast. Explore the lessons, views, and opinions from successful professionals in the payment industry on relevant topics. Host Nico works to shed light on what’s hot both now and for the future. In today’s episode, guest Peter Bayley joins the conversation. Peter has 30 years of experience in the payment industry and most recently joined the Allyiz team. Prior to this, his last position was Global Head of Ecosystem Risk Oversight and Strategy for Visa. They chat about his views on acquisitions, payment methods, and recommendations to de-risk the payment business.

Nico kicks off the conversation with learning some about Peter’s background, personal life, and intensive traveling. Being involved in both the schemes and banking side of things, Peter shares the excitements and frustrations both can bring. Peter then jumps into the key principals he sees as integral to de-risking the payment system. Learn about the number of elements that influence this—right incentives, infrastructure, and a combination of data and agility. Where is the trend going? They discuss the importance of liability, risk, and motivation, but Peter hones in on the issue of liability. Merchants have evolved over time to being active participants in the system, so there has been a shift in the debates being handled. Find out about optimizing the relationships of those involved with the fraud and chargebacks being incurred. Peter says this is a healthy debate that leads the merchants and payment systems to talk in the same language and balance the factors of both losses incurred and the authorization approval rates.


While Peter is a popular person to travel and speak to merchants, Nico inquires about the top 3 merchant questions he receives. The number one question Peter gets is “why?”. He shares how it is all about understanding and building knowledge about how the system works. Secondly, he shares a more practical question about being on the “wrong end” of client issues, compliance programs, and what merchants can do about it. He works to adapt solutions to be the most relevant for the merchants in the space. Finally, Peter shares about the direct help merchants request and their desire for change.


What’s the end game? Learn about a proactive strategy and how systems are diversifying and becoming more sophisticated. The chat about security related acquisitions and acquisition “bubbles”. While these deals are occasionally big, Peter says the technology is thin. In considering diversification, Nico asks about alternative payment methods like PayPal, What’s App, merchant payment systems from China. Where is the future going with schemes? Peter addresses these topics and shares about the importance of ensuring any model will allow for evolution over time in order to balance the tensions presented. Nico asks Peter about a plan for a European system. Peter shares his ideas on the effectiveness of the plans already in place and how there would need to be a considerable uniqueness to whatever people may present in order for it to take root.


In the “Golden Minute” section, Nico inquires about Peter’s call to action for the industry. Find out the three things he says people need to consider—from understanding how the system works, to having data feeds and relevant info, and the agility to do something about the recognized problems.


The episode draws to a close as Peter recalls instances where he failed and learned from the failures. He shares about the need for being willing to stand up and say something you’re confident about for the good of the business, even if that jeopardizes a relationship. Nico ends the show with two final questions. Learn what Peter’s favorite whiskey is and why his final word to the industry is “data”. Don’t miss out on the importance of looking at your data!


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0:47 Guest Peter introduced

1:47 Peter welcomed on

4:04 Praise for Peter

5:38 Key principals to de-risk the payment system

8:35 Where is the trend going?

13:48 Top 3 merchant questions

17:15 What’s the end game?

22:00 The “bubble” in acquisitions

23:35 Diversifying and alternative payment methods

30:00 A European plan?

32:08 Golden Minute

36:40 Failure and lesson learned

40:35 Peter’s dream present

42:55 One word to the industry: data


About Peter Bayley

After over three years at Santander, Peter spent nearly 20 years heading up the risk and fraud strategy for Visa. During his time at Visa, he held various roles as the Global Head of Ecosystem Risk Oversight and Strategy and also served as Visa’s Global Head of Fraud Strategy & Exec Director Ecosystem Risk, Europe. Additionally, Peter has been named to the Global Board of Directors for the Merchant Risk Council in 2014, a global forum for e-commerce fraud and payments professionals. Since 2020, Peter is a Senior Associate at Allyiz.


Connect with Peter on LinkedIn

About Allyiz

Allyiz (pronounced allies) is the “go-to” company for payments experts for businesses who want to source knowledge, time or people. Allyiz distinguishes ourselves from consultancies by bringing the expertise and experience of professionals who have successfully run the function on the business side and have done it well many times. We run short projects and deliver actionable results.


Connect with Allyiz on LinkedIn  or at

Payments & MoreEpisode 4
00:00 / 01:04
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