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 [...]
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 [...]
