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Variable Recurring Payments enable consumers to securely authorise third parties to initiate payments from their bank account on an ongoing basis and are a hot topic in open banking right now.
Source : Tink.com
When the encrypted communications app Signal launched nearly seven years ago, it brought the promise of the strongest available encryption to a dead-simple interface for calling and texting. Now, Signal is incorporating what it describes as a way to bring that same ease of use and security to a third, fundamentally distinct feature: payments
Source: Wired.com
Over the past 5,000 years, there have been countless evolutions in how we pay, earn, save, spend, lend, borrow, invest & insure; yet we might be in the midst of the greatest concentrated period of innovation yet, due to the human & financial capital gravitating towards the broader FinTech industry.
Source : Medium
The onset of the coronavirus brought concerns about the risks posed by traditional payment methods, especially those that required contact. As a result, people started looking for contactless, seamless, and secure payment options. This could explain why, according to Statista, 18.8% of those surveyed strongly agreed and 27.95% agreed that QR payment usage had increased
Source : Relevant
Data is an increasingly important part of the payment industry. It is collected, analyzed, and used at various points during a payment transaction, and plays a vital role in making sure the payment reaches its intended destination. Data is also at the core of customer security and system innovations.
Source: fintechna.com
The payment ecosystem consists of interconnected and networked electronic equipment, banks, and non-banking financial corporations that facilitate funds transfer between the purchasers and vendors. Read this article on to learn what contemporary technologies to use if you’d like to outperform your payment ecosystem competitors.
Source : Dataart
The US healthcare payments system is ripe for disruption. Just two decades ago, fees paid by patients accounted for only 5% of hospitals and doctors' revenue, but by 2017, that portion was up to 35%. And the patients' burden is expected to grow amid the increasing reliance on high-deductible medical plans and overall rising costs of healthcare.
Source : Yahoo
We’re seeing vertical software companies and marketplaces becoming FinTech companies because they facilitate transactions. To keep up with constantly evolving regulations and compliance standards, companies will need more modern payments infrastructure. Software developers will need the right tools to manage all their financial data or potentially bring payments in-house.
Source : Medium