In the digital age of modernizing payment services and opening financial services, data is a pivotal step in transitioning the payment industry from Open Banking to Open Finance. Through Open Banking, third-party service providers have secured and permissioned access to users’ bank account information. Through Open Finance, customers can securely [...]
By the term “orchestration,” the first thing that comes to mind is the systematical or automated coordination and management of different components to achieve a particular goal. So, if you think of payment orchestration, it will mean coordinating and managing different payment services, payment methods, payment service providers, payment gateways, [...]
On many occasions, your mobile phone may be out of network coverage. Or you may be traveling in a remote area without network connectivity. In this digital era, don’t you think you should be given the option to pay digitally in such situations, even when there is a network [...]
Chat Generative Pre-Trained Transformer (ChatGPT) is a pre-trained AI bot that can chat with you and generate relevant natural language text in response to your input text. The most impressive aspect of this software is that it promptly provides clear and concise information. Financial institutions, payment gateways, and processors securely [...]
Virtual Reality (VR) immerses you in an artificial environment, effectively substituting your natural surroundings with a virtual world. By utilizing a VR headset or a smart device, you can explore various physical stores and browse their entire range of products, all from the comfort of your home. How does AR [...]
While using any non-payment app or website, sometimes we have a smooth, frictionless, seamless payment experience. Payment processes are so integrated or embedded within the non-payment apps or websites that there are no hiccups or interference while paying. Some applications have integrated payments, while others have embedded payment processes. There [...]
A hardware security module (HSM) is a tamper-resistant physical computing device that safeguards and manages digital keys, performs encryption and decryption functions for digital signatures, and provides strong authentication and other cryptographic functions. HSM has mature technology that is highly available, scalable, and usable. These modules traditionally come as [...]
A token is a value that goes securely through the network to process payments without exposing actual card data. Tokenization aims to replace or represent specific sensitive information without compromising its security. The 16-digit payment card account number is replaced with a unique digital identifier, or the “token,” for mobile [...]
