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 [...]
As the name suggests, CBDC is the central bank-issued digital currency. It is an electronic form of sovereign currency that will appear as a liability on a central bank’s balance sheet just like physical currency. Instead of printing money, the central bank, backed by the central government, issues electronic [...]
Banks have been frontrunners in adopting new technological innovations for the past couple of decades and have taken advantage of everything technology has to offer. Indian-born British inventor John Adrian Shepherd-Barron was inspired by chocolate vending machines and hit upon the idea “if vending machines could dispense chocolates, why couldn’t [...]
The digital mode of payment has emerged in the last two years due to the pandemic. The world has seen a spike in digital payment transactions. Payments are now faster, frictionless, contactless, embedded, and transparent. What more will we see in 2022? What can be enhanced further? Better Infrastructure with more [...]
The veil has been lifted, the masks are off. A couple of decades ago, the customer took what was offered. Organizations did what they felt was in their power. There was a mystery regarding the on-goings of trade, and trade-secrets were greatly guarded. As time passed, however, communication took [...]
