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xettle-technologies · 1 month ago

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What payment processors or gateways will be used?

In today’s fast-paced digital economy, seamless and secure payment processing is a cornerstone of any financial technology platform. As software development in fintech continues to innovate at a rapid pace, selecting the right payment processor or gateway becomes a critical decision that can significantly impact the user experience, operational efficiency, and scalability of a fintech product.

Payment processors and gateways serve as the backbone for handling online transactions, whether for peer-to-peer payments, merchant checkouts, recurring billing, or cross-border transfers. The decision around what processor or gateway to use is closely tied to the nature of the product, its geographic focus, regulatory compliance needs, and the type of financial services it aims to provide.

Let’s explore the key factors in choosing payment processors or gateways during development in fintech, along with common use cases and emerging trends.

Understanding the Role of Payment Processors and Gateways

Before diving into the options, it’s important to distinguish between a payment gateway and a payment processor:

Payment Gateway: A tool that captures and securely transmits payment data from the customer to the payment processor.

Payment Processor: The service that communicates with the banks involved (customer’s and merchant’s) to authorize and complete the transaction.

In many modern development fintech projects, these functions are bundled together in a single service provider, streamlining integration and reducing the technical burden on development teams.

Key Considerations When Choosing a Payment Processor

When building a fintech application, whether for e-commerce, lending, digital wallets, or banking-as-a-service, the following considerations influence the choice of payment gateway:

Transaction Types:

Does the platform support one-time payments, recurring subscriptions, or both?

Will it handle payouts, refunds, and reversals?

Geographic Reach:

Is the fintech application limited to local transactions, or does it aim to serve international customers?

The availability of regional payment methods (like bank transfers, wallets, and local cards) matters greatly.

Currency Support:

Multi-currency support is essential for global platforms.

The ability to settle in local currencies helps reduce currency conversion fees and improve user trust.

Security and Compliance:

The payment processor must comply with PCI-DSS standards and offer fraud detection tools.

Integration with 3D Secure, tokenization, and end-to-end encryption is now a standard requirement in software development fintech.

Integration and Developer Experience:

RESTful APIs, SDKs, and documentation should be robust and developer-friendly.

The processor should provide sandbox environments and test cases for smooth development and QA processes.

Fees and Settlement Times:

Transaction fees, chargeback handling costs, and settlement periods are crucial factors, especially for high-volume businesses.

Common Use Cases in Development Fintech

Different types of fintech applications will have varying needs when it comes to payment processing:

Peer-to-Peer (P2P) Platforms: Require real-time fund transfers, user wallets, and instant KYC checks.

Merchant Payment Apps: Need multi-party payments, payment splitting, and support for in-store as well as online purchases.

Subscription Billing Services: Require recurring billing support, automated invoicing, and dunning management for failed payments.

Lending Platforms: Must manage disbursement and repayment flows, often integrating with loan management systems.

Digital Banking Apps: Require deep banking integrations and compliance with local financial authorities.

The Role of Payment Gateways in Innovation

As the fintech space matures, payment gateways are becoming more than just transaction enablers. Many now offer:

Real-time fraud detection using AI

Machine learning models for risk profiling

Analytics dashboards for business intelligence

Embedded finance tools for upselling and cross-selling

In software development fintech, the trend is moving toward modular platforms where developers can pick and integrate just the services they need — whether that’s card issuing, onboarding, or virtual accounts.

One Example in Practice

A great example of this evolving landscape is Xettle Technologies, which has integrated modern gateway architecture to offer embedded payments, real-time transaction insights, and developer-first APIs tailored for fintech applications. Their focus on speed, reliability, and compliance showcases how companies can enhance their financial products through thoughtful integration of payment infrastructure.

Conclusion

The choice of payment processor or gateway is not just a backend concern — it's a foundational decision in any development fintech project. It shapes the user experience, determines operational efficiency, and plays a major role in compliance and security.

As software development fintech continues to grow more complex and user-centric, developers and product managers must evaluate payment gateways not only for their transaction capabilities but also for their innovation potential and ability to scale with the business.

Whether you’re launching a peer-to-peer wallet, a subscription billing engine, or a neobank, your choice of payment infrastructure will be a major determinant of your platform’s success.

#fintech #fintech software #development #marketing

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routefusion · 4 months ago

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Routefusion’s Cross Border Payouts API is designed to help businesses manage international payments seamlessly. With support for multiple currencies and transparent exchange rates, the API simplifies global payouts, ensuring reliability and security. Whether paying vendors or managing global payroll, Routefusion provides a streamlined experience that integrates easily with your existing systems. Empower your business to expand across borders without the hassle of complex financial processes. Choose Routefusion for fast, cost-effective, and reliable cross-border transactions tailored to modern enterprises.

#virtual bank account

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transficom · 5 months ago

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Revolutionizing Global Payments for Effortless Transactions

In today’s rapidly evolving digital landscape, businesses and enterprises are constantly seeking more efficient and cost-effective ways to transfer money across borders. Whether you're a startup, a freelancer, or a multinational enterprise, having a reliable and scalable global payment solution is key to navigating this increasingly interconnected world.

Introducing TransFi: A Native Web3 Cross-Border Payments Company

At the forefront of revolutionizing cross-border payments is TransFi—a Web3 native platform designed to power international transactions for businesses of all sizes. Our mission? To power the world’s payments, helping businesses and individuals access better ways to move money.

Why TransFi?

With a focus on innovation and security, TransFi offers a comprehensive payment ecosystem that helps businesses optimize their global payment strategy. From paying employees and freelancers to collecting payments from international clients, our platform simplifies the movement of money across 100+ countries and 40+ currencies.

Here’s what makes TransFi the go-to global payment solution:

1. Real-Time Settlements

Effortlessly manage cross-border transactions with real-time settlements, ensuring funds reach their destination quickly and without hassle. Whether it's paying vendors or receiving payments, you'll experience fast and seamless operations.

2. Wide Currency Support

TransFi supports over 40 currencies and has global coverage across Asia, Europe, North America, LatAm, and Africa. Our platform eliminates the need for costly conversion processes, helping you minimize fees and optimize financial flow.

3. Lowest Processing Fees

We understand the financial strain of high processing fees. That’s why TransFi offers competitive and transparent pricing, tailored for businesses seeking a global payment solution. With no hidden fees, you can focus on growing your business while we take care of the payments.

4. Enterprise-Grade Security

Security is a cornerstone of TransFi. Our platform ensures 100% protection of e-money with securely segregated customer funds, advanced fraud prevention mechanisms, and compliance with global regulatory standards. With features like AI-enhanced transaction monitoring and stringent KYC procedures, your money is in safe hands.

5. Developer-Friendly API Integration & Platform Services

For tech-driven businesses, TransFi offers a seamless experience by providing both robust APIs and platform services. Our user-friendly API integration simplifies embedding payment solutions into your platform, while our comprehensive platform services ensure end-to-end support. With detailed documentation, developers can onboard quickly and efficiently, enhancing the payment experience for businesses and customers alike.

Simplifying Payments for All Industries

Whether you're in SaaS, B2B payments, remittances, or export, TransFi provides tailored solutions to meet your unique business needs. With global coverage, low fees, and an easy-to-use interface, businesses in traditional and digital sectors can streamline their financial operations and reach new heights.

Effortless Collections and Payouts

Collecting payments globally has never been easier. TransFi allows you to collect payments with just a few clicks, providing instant access to funds with minimal fees. From freelancers to large enterprises, the platform ensures timely payouts, fostering smooth financial relationships with employees, partners, and vendors worldwide.

Effortless Digital Asset Transactions Buying and selling digital assets globally has never been easier. TransFi's Ramp allows you to convert fiat and digital assets in just a few clicks, ensuring fast transactions with competitive rates. Supporting 50+ digital assets across 35+ blockchains and available in 100+ countries, our platform meets diverse investment needs.

With 200+ local payment methods, you can enjoy seamless transactions whether you’re an individual investor or a large enterprise. Our compliant Ramp Network simplifies the process with instant KYC verification, ensuring security and efficiency. Experience low processing fees and dedicated support, making your digital asset journey effortless.

Building the Future of Global Payments

In a world where businesses are increasingly transitioning to digital platforms, having the right global payment solution can make all the difference. TransFi is committed to helping businesses and individuals unlock new opportunities with its tech-first approach, ensuring real-time fund movement, low processing costs, and secure transactions.

For businesses looking to grow their international footprint or streamline their payment processes, TransFi is the global payment solution of choice. Experience the ease, security, and scalability that TransFi brings to the table, and take your business to the next level with seamless cross-border payments.

Contact TransFi Today

Ready to transform how you handle cross-border transactions? Get in touch with TransFi to explore the best solutions for your business and enjoy borderless payments with boundless potential.

By choosing TransFi as your global payment solution, you're opting for a secure, compliant, and innovative platform that understands the complexities of international finance—making cross-border payments simple and accessible for everyone.

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infinitywebinfopvtltd · 6 months ago

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Cashfree Payment Gateway API Integration by Infinity Webinfo Pvt Ltd : Benefits, Characteristics, and Key Features

In the dynamic world of online payments, Cashfree Payments Gateway has emerged as a leader in providing secure, efficient, and user-friendly payment solutions for businesses. Recognizing its potential, INFINITY WEBINFO PVT LTD, a technology-driven company specializing in software solutions and API integrations, offers seamless integration services for Cashfree’s APIs. This article explores the importance, benefits, and the integration process of Cashfree’s payment gateway by INFINITY WEBINFO PVT LTD.

Introduction to Cashfree Payment Gateway

Cashfree is a versatile payment gateway offering businesses a unified platform for accepting payments and making payouts. With features like instant payments, multiple payment modes, and secure transactions, it caters to industries such as e-commerce, fintech, travel, and more.

Benefits:

Faster Transactions: Instant processing of payouts and collections ensures smooth financial operations.

Wide Payment Options: Supports UPI, cards, wallets, net banking, and international payments, catering to diverse customer preferences.

Customizable Solutions: Offers tailored APIs and SDKs for seamless integration with business workflows.

Improved Cash Flow: Instant settlements for merchants help maintain a steady cash flow.

Enhanced User Experience: Simplified checkout processes reduce cart abandonment.

Secure and Compliant: Adheres to PCI DSS compliance and industry standards to ensure secure transactions.

Scalability: Flexible for businesses of all sizes, from startups to enterprises.

Automation-Friendly: Automates tasks like reconciliation, payouts, and subscriptions, saving operational time and effort.

Characteristics:

API-First Platform: Cashfree is designed for developers, offering easy-to-integrate APIs for payments and payouts.

Cloud-Based: Operates on cloud infrastructure, ensuring high availability and reliability.

Cross-Border Support: Handles international payments for global businesses.

Custom Workflows: Allows businesses to design workflows for specific payment needs (e.g., recurring payments, vendor payouts).

Real-Time Analytics: Provides insights and reports for better financial decision-making.

Omnichannel Capabilities: Supports online and offline payment modes for versatility.

Key Features:

1. Payment Gateway:

Accepts payments via cards, UPI, wallets, EMI, and net banking.

Seamless integration with websites, apps, or CRM platforms.

Smart routing for higher success rates.

2. Payouts:

Instant transfers to bank accounts, UPI IDs, or cards.

Bulk payouts for vendors, employees, and refunds.

Integrated API for automated payouts.

3. Subscription Management:

Automates recurring billing for subscription-based businesses.

Supports payment retries and notifications for failed payments.

4. Auto Collect:

Assigns virtual accounts to customers for direct payment tracking.

Enables real-time reconciliation.

5. Global Payments:

Accepts international payments in multiple currencies.

Complies with local regulatory standards.

6. Marketplace Settlements:

Splits payments between vendors and merchants automatically.

Supports escrow-based settlements.

7. Instant Refunds:

Enables businesses to process refunds instantly, improving customer satisfaction.

8. UPI Stack:

Custom UPI integrations for faster and secure payments.

9. Developer Tools:

APIs, SDKs, and plugins for seamless integration.

Sandbox environment for testing.

10. Security & Compliance:

PCI DSS Level 1 certified for data protection.

Tokenization and encryption for secure transactions.

Industries Served:

E-commerce

EdTech

Healthcare

Travel and Hospitality

Financial Services

SaaS and Subscription Platforms

Why Choose INFINITY WEBINFO PVT LTD for Cashfree Integration?

INFINITY WEBINFO PVT LTD has a proven track record in delivering robust API integrations tailored to business requirements. The company specializes in building reliable solutions that ensure smooth financial operations.

Key reasons to choose their services:

Expertise: Proficient in integrating Cashfree’s APIs with diverse platforms, including websites, mobile apps, and enterprise software.

Customization: Tailors payment workflows to fit unique business needs.

Support: Offers end-to-end support from implementation to maintenance.

Compliance: Ensures integration meets security and regulatory standards.

Conclusion

By leveraging Cashfree’s powerful APIs, businesses can revolutionize their payment and payout processes. INFINITY WEBINFO PVT LTD ensures that the integration process is seamless, secure, and tailored to specific business needs. With expertise in advanced API integrations, they enable businesses to focus on growth while handling their payment workflows effortlessly.

For businesses looking to integrate Cashfree or other payment gateways, INFINITY WEBINFO PVT LTD is your trusted partner for innovative and scalable solutions.

Mobile: - +91 9711090237

#cashfree #cashfree payments #cashfree payments gateway #cashfree payment gateway api integration #cashfree payment gateway API Integration by INFINITY WEBINFO PVT LTD #payment gateway #api integration #infinity webinfo pvt ltd

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flutterwave · 10 months ago

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Flutterwave Secures 13 New Money Transmission Licenses in the U.S. and Services 29 States with its Send App Remittance Solution for Consumers and Enterprises

Flutterwave can now enable transfer of money to and from 29 U.S. states and to African countries and beyond.

SAN FRANCISCO, Dec. 7, 2023 /PRNewswire/ -- Flutterwave, Africa's leading payments technology company, has announced its acquisition of money transfer licenses for 13 U.S. states to enable faster, more affordable, and secure transfer of money from the United States to Africa and back. The states include Arizona, Arkansas, Maryland, Michigan, Delaware, Georgia, Maine, Mississippi, Missouri, New Hampshire, Iowa, North Dakota, and South Dakota. The 13 new licenses in addition to its partnership with another licensed financial institution enable Flutterwave to serve customers in 29 states in the U.S.

Money transfer licenses are issued by state regulators to allow financial technology companies to engage in the transmission of money.

These licenses enable Flutterwave's solutions like Send App, which facilitates money transfer between the U.S. and Africa, and enterprises that use Flutterwave for last-mile payout globally.

"Getting these licenses expands our regulatory footprint, demonstrates our ability to deliver services with safety and soundness, and fosters trust of regulators, partners and customers," said Stephen Cheng, Executive Vice President, Global Expansion and Partnerships at Flutterwave. "We're growing and are committed to servicing customer needs in as many geographies as possible with a significant African diaspora."

"These licenses reflect our commitment to working with regulators across various markets, following their requirements and ensuring the safety of customer funds. We will continue to create an environment of safety and trust," added Cheng.

Sending money between the U.S. and Africa is challenging for the African diaspora. These licenses enable Flutterwave to make Send App, the super user-friendly money remittance app, available to the African diaspora in the U.S. This will help them send money where their heart is.

"Our mission is to connect Africa to the world and the world to Africa by simplifying payments for endless possibilities," said Olugbenga Agboola, Founder and CEO at Flutterwave. "These licenses move us one step closer to our vision and we will continue to expand this feat to ensure coverage for all States in the U.S. and beyond."

Flutterwave is committed to providing accessible remittance services across the U.S. and will continue its expansion of licensing coverage.

About Flutterwave

Flutterwave is the leading payments technology company that enables businesses across the world to expand their operations in Africa and other emerging markets through a platform that enables local and cross-border transactions via one Application Programming Interface (API). Flutterwave has processed over 550M transactions in excess of USD $32B and serves more than 2MM businesses, including customers like Uber, Airpeace, Bamboo, Piggyvest, and others. The company's key advantage is connecting businesses to various local and international payment types to enable them to expand globally. It also enables cross-border transactions from the diaspora to African countries via its Send App product. Flutterwave processes payments via multiple payment modes, including local and international cards, mobile wallets, bank transfers, and Google Pay. The company has an infrastructure that reaches 34 African countries. For more information on Flutterwave's journey, please visit www.flutterwave.com.

#flutterwave #flutterwaveceo #payments #paymentsprocesssing #olugbengaagboola

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online-payment-tips · 3 years ago

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4 Payment Trends That Will Shape 2022

In these difficult times, we can't help but wonder what lies ahead in all aspects of life, including payments. Payments have progressed significantly over the last decade and will continue to do so in the coming year. Here are four payment trends that will undoubtedly shape the year 2022 as we know it.

Seamless Customer Experience with Invisible Payments

Customer experience is now, more than ever, one of the most important aspects of any business, and it has the potential to make or break it. One of the most important reasons for customers to repurchase is a positive customer experience. Similarly, it is one of the most common reasons for cart abandonment when shopping online. While businesses have long focused on improving the customer experience in terms of business operations, merchants are now focusing on payment processes as well.

Customers will no longer have to search for their wallets to pay with a card or cash, or enter lengthy card details into website checkouts. Instead, payment trends indicate that businesses will begin to prioritise intangible payments. Customers will be able to concentrate solely on the shopping experience as a result of these payments. They will no longer have to think about payments because they will be handled in the background.

For many years, some businesses have used invisible payments. The payment information of a customer is already stored within the app, and the payment is made automatically once the ride is completed. Invisible payments will undoubtedly become the norm in many business sectors. Furthermore, thanks to APIs, mobile payments will continue to grow in popularity in the coming year.

All Businesses Will Transition to Digital Invoicing

Yes, payments are changing, but so are all of the activities that go along with them. Other payment activities, such as accounting and invoicing, are impacted by digitalization. Though digital billing and invoice services are not novel, many small and medium-sized businesses continue to rely on antiquated paper billing. This is not only slower and more expensive, but it also leads to numerous mistakes and errors.

Payment trends, thankfully, indicate that we are on the verge of a digital billing revolution. This will make it easier for all businesses to track expenses, bill customers, and get paid. Due to payment providers that can help with full-stack payment services in one seamless digital platform, all sized businesses will begin making this transition by 2022.

Payment Trends Will Lead to Simple Payment Stacks

Currently, most merchants use a variety of payment gateways and acquiring banks. The reason for this is that they have discovered that the online payment gateway they are currently using does not offer the payment option they require or does not provide adequate cross-border support. As a result, they naturally add another gateway that provides what they are looking for. But what happens when that payment option is no longer relevant to them, rendering the best online payment gateway obsolete?

Merchants are frequently forced to use multiple gateways. As a result, they are unable to manage all of the accounts, payouts, and payment data that come with them. Instead, by 2022, more and more businesses will opt for larger payment solution providers that offer a plethora of payment options as well as flexible coverage. This will, without a doubt, result in a simple and seamless payment solution for all businesses.

Increased Payment Regulations

Payment regulations have undoubtedly increased in recent years and will continue to do so well into 2022. These rules protect both customers and businesses from fraudulent behaviour. Furthermore, many industries will start to feel the effects of these regulations within the next year.

With the number of regulations increasing all the time, it is critical that businesses collaborate with payment, tax, and legal partners. Such services can assist them in transitioning and managing these ongoing changes.

#Banking #payment gateway #Digital wallets #UPI #online business #customers #merchants #leads #money transfer #transactions #trends #collaboration #e-commerce

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routefusion12 · 5 months ago

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Expand Internationally Using Routefusion’s Cross-Border Payouts API

Expand your business globally with Routefusion's Cross Border Payouts API, designed to simplify international transactions. This innovative solution enables seamless multi-currency payments and ensures compliance with global regulations. Businesses can streamline operations, reduce transaction costs, and enhance efficiency with real-time processing and robust security features. With Routefusion, managing cross-border payouts becomes effortless, empowering companies to scale internationally while maintaining control over financial processes. Join thousands of businesses leveraging Routefusion to unlock global opportunities and achieve hassle-free payment solutions tailored to their needs. Expand confidently with Routefusion’s trusted API.

#cross-border payouts #cross border vendor payouts #cross-border payouts API

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digitalmore · 4 months ago

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#IFTTT #DigitalMore.co

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paymentoperations · 3 years ago

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Payment Orchestration Guide 2022

describes the process of integrating and handling different payment service providers, acquirers and banks on a single, unified software layer. The Payment Orchestration software executes the complete payment processing, from validation to routing to settlement.

The Payment Orchestration Layer / POL (or Payment Orchestration Platform / POP, respectively) bundles user and merchant accounts, acquirers, payment providers, fraud detection services, etc. to initiate, validate, route and process transactions involving those parties. In addition, it handles payment processes such as reconciliation, billing and settlement, payouts and reporting.

Thus, a Payment Orchestration Layer acts as the entry point and core of a payment system. This approach differs tremendously from separately integrated PSPs. E-commerce platforms and online service providers don’t need to integrate every PSP and every acquirer separately. Instead, they can consume the unified API of the payment orchestration layer, benefiting from a reduced integration complexity. Moreover, a POL simplifies the maintenance and further development of the system for platform owners and for merchants. In the same vein, it eases the interaction with 3rd party service providers.

How a Payment Orchestration Layer connects to external payment providers and third-party feature providers.

As a special benefit, Payment Orchestration comes with a number of advantages, which don’t occur in single-PSP or separated multi-PSP solutions, such as:

Automated payment routing based on certain criteria (consumer’s risk level, transaction costs, customer preference, etc.)

Cross-provider token vaults for credit card data

A common 3D secure engine across providers

Unified data analytics and reporting, for improving and optimizing costs and processes

And many more, see the section about benefits of a POL below

Sounds good? Well, one question remains!

Should you as a platform or service provider settle for Payment Orchestration as a general rule?

This is what this article will dive into. It discusses:

The role of Payment Orchestration in the new economy

The operational benefits of Payment Orchestration for businesses

How a typical orchestrated payment process unfolds

Next steps to set up Payment Orchestration

PAYMENT ORCHESTRATION IN THE NEW ECONOMY

Payment Orchestration is a fairly recent term.

Until a few years prior, it flew under the radar, even though it had effectively been implemented before. Larger e-commerce and BigTech companies understood early, that a refined selection of payment service providers improves customer experience and retention. To optimize the process of bringing in new PSPs and payment methods, they built complex backend systems and a unified API — backed by their large in-house development teams.

In fact, as Lochan Sim rightly points out, widespread adoption of Payment Orchestration is possible now because of developments during the last decade. Smart and powerful automation is accessible even for companies with smaller budgets. At the same time, ready-to-use cloud infrastructures like AWS, GCP, or Azure remove the need for elaborate, company-owned server networks. And then, we should not forget the payment service providers, either: They have improved, too, in terms of variety, flexibility, and quality of their APIs.

With those foundations laid, payment experts agree that Payment Orchestration will see adoption on a much greater scale in the future. Building a Payment Orchestration Layer in-house or with a software development partner is an option that e-commerce, marketplace, and online service provider companies consider, regardless of business size.

And they pretty much should! The sheer amount of digital transactions keeps climbing to new heights each year. Thus, the competitive pressure to present customers with a wide selection of PSPs grows. And customer expectations in digital payments can be complicated to fulfill: Some customers want payments to happen cross-border, as international commerce spreads. Some want payments to happen locally, with national, well-known payment providers. Then some want payments to happen fast, in real-time. And some want payments not to happen right away: Buy Now, Pay Later has entered high up on customer wishlists. Meeting all of those expectations requires e-commerce and online service provider companies to integrate a comprehensive set of different PSPs, banks, and acquirers.

Digital Wallets are especially prevalent in India and China, were less than 1/10 of users have not yet used one. In the US, a little less than half of the population has not yet used one.

That’s just one part of the equation, though. Add regulations such as PCI DSS, PSD2, and GDPR to the mix and you will end up with complex dependencies any legacy payment systems will likely struggle with. Payment Orchestration shows disruptive potential here; this central aggregation layer has to be designed with keeping all current compliance challenges in mind.

Ultimately Kristian Gjerding, CEO of CellPoint Digital has put it perfectly: “If payments are the engine that is powering digital transformation, payment orchestration is how global enterprises can keep that engine running at peak performance.”

THE BENEFITS OF PAYMENT ORCHESTRATION

As a business owner, the primary question you have at this point will be: “But what’s in for me?” You wonder whether Payment Orchestration — be it custom-built with the help of a partner or provided by a third party “as a service” — will be worth your time and budget.

Let’s look at POs wide array of benefits and competitive factors to help you decide.

Improved Business Scalability, Easier Integration

Expanding your services into new markets typically presents a difficult task. Besides regulatory compliance, the integration of region-specific payment providers and currencies can be challenging. A Payment Orchestration Layer simplifies the process. It offers a flexible payment system architecture where the integration of third-party provider APIs is unified and simplified. Thus you can launch new payment options within a short timeframe and scale your business faster.

Smart Routing

One of the major benefits of Payment Orchestration Platforms lies in their ability to dynamically route payments. And by setting up the routing rules, you gain greater control over the payment flows. For example, you could automatically funnel transactions through the channels that provide the best conditions. This could mean providing low-risk payment methods for high-risk customers or choosing a channel with low transaction costs.

Or it could imply processing the payment through a specific high-speed provider reducing latency. It’s also possible to reduce the amount of failed transactions by re-routing them to other acquirers or payment service providers, should the payment fail at the first one. This prevents frustration with your merchants and customers, too. Which takes us straight to the next bullet point.

Streamlined Customer Experience

Studies show: Up to 50% of e-commerce customers abandoning their cart do it for reasons related to payment. Payment Orchestration Layer can prevent this by helping you harmonize your checkout flow. For example, you can easily set up an embedded checkout process, during which customers remain on your site or in your app, instead of being forwarded to external pages.

Additionally, you can give customers a broad choice of payment methods and providers (6% of customers quote the lack of payment options as a reason for abandoning their purchase). Thanks to the unified API of Payment Orchestration Layers, offering new methods on popular demand is very straightforward for e-commerce platform owners and merchants. Less friction, more flexibility, much conversion.

Better Merchant Experience

What’s true for customers is also true for merchants. If you run an online marketplace, you can set up your Payment Orchestration Platform to cater to the specific needs of your merchants. POs offer a unified approach: For triggering the payment, for payment reconciliation, but also for refunds.

Merchants don’t have to handle distinct reconciliation file-formats acquirers or PSPs present them. They simply can trigger payments and refunds using the unified API of the POL and don’t need to fumble with different APIs, implementations and processes. Lastly, the Payment Orchestration Layer can take care of merchant billing and settlement and automatically trigger payouts of available funds depending on individual configuration per merchant.

Lower Costs

Upon the first gaze, traditional payment systems might be cheaper to uphold. But — especially in the long term — Payment Orchestration Platforms will save you costs. Aside from preventing integration expenses from exploding, POPs’ modern infrastructure helps reduce expenses. Add automated routing of transactions to least-cost payment providers and you get an idea why Payment Orchestration is less expensive than conventional payment processing.

No Vendor Lock-In

Thanks to easy integration, Payment Orchestration Layers can be used to compile a wide selection of PSPs and acquirers. This gives customers freedom of choice. And it also benefits you as a company: You are not dependent on a singular payment partner. Not only does this give you more control over your transaction flows, but it also grants fallback providers in case of payment outages, feature updates, or policy changes that don’t suit you. Finally, having a choice yourself puts you in a more favorable position when negotiating pricing and charges.

Data Analytics and Reporting

Payment Orchestration Platforms greatly simplify payment data evaluation, due to its consolidating nature: All PSPs in a PO system are maintained at the same place. Compiling data reports for multiple PSPs at once is easily possible. This data can easily be shared as well, with merchants, fraud detection services, or financial authorities, for example.

HOW AN ORCHESTRATED PAYMENT WORKS

One of the most important features of Payment Orchestration is finding the ideal digital route for a transaction to pass through.

The payment path starts at the checkout. It’s where the customer chooses a payment method from the list of options available on the platform. This list may be pre-filtered depending on the customer country, risk score and further criteria. With this step completed, the payment will be routed, seeking the best suitable payment provider. Once the ideal PSP for processing is clear, user data necessary to process the payment is passed on to the proper payment gateway/acquirer. If the payment fails, automatic routing fallback may kick in, allowing the payment to take another route via an alternative gateway/acquirer. Afterward, the clearing/reconciliation phase starts, in which the funds will be transferred between PSP/acquirers and the Payment Orchestration Platform Owner.

Moreover, the Payment Orchestration Layer periodically runs billing and settlement processing and can automatically start payouts of the earned funds to its merchants. And finally, reports for different purposes can be automatically generated on a regular basis.

To wrap it up, let’s recap the benefits of Payment Orchestration Systems.

GETTING STARTED WITH PAYMENT ORCHESTRATION

What would you say, do the benefits listed above convince you? If so, you probably want to implement a Payment Orchestration Layer for your digital platform. But how do you get started with setting up Payment Orchestration?

The starting point is your company: The payment orchestration platform you integrate must fit your business strategy. There are plenty of factors that play into this decision: From budget to regulations to markets and the frameworks, your software runs on. So, before you commit yourself to a technological approach, it might make sense to bring in payment business consultation first, if strategic questions remain.

From a technical standpoint, there are two opposite ways to get Payment Orchestration up and running:

Turn-Key Payment Orchestration Layers

This variant comes closest to a low-code approach. As Payment Orchestration is gaining traction in the platform economy, the choice of white-label or as-a-service Payment Orchestration solutions is broadening. Companies like Spreedlyor Payoneer offer ready-to-use middleware for PO purposes. Those third-party solutions slip in between the client’s platform and the payment providers and gateways. Many bring along a line-up of partners (PSPs, acquirers, etc.) their Payment Orchestration Layer supports out-of-the-box. This might come with some preferences regarding payment routing that your company doesn’t share. In terms of pricing, pay-per-payment or pay-per-API-call rates are common, — this can add up over the years. Also, the number of productional installations might be limited. This forces you to change your pricing plan every time you want to scale up — or it scales up automatically once you breach limits, which can be a nasty surprise when planning operation costs.

Another downside to this approach is, that, while your company is not dependent on external PSPs, it is still dependent on the Payment Orchestration company and their vision on how to expand their PO product in the future. And if you decide to sever your ties to a Payment Orchestration provider, it can be difficult to migrate your system to another one in due time.

Self-Built Payment Orchestration Layers

This approach is ideal for companies with a profound do-it-yourself attitude in place. Instead of relying on an external Payment Orchestration Layer, you build a payment system from scratch that can orchestrate transactions on its own. The downsides are obvious: It is more expensive in the initial phase. Plus, it requires development time and effort to get the Payment Orchestration platform off the ground. Not to say anything about expertise: Your software engineers must be well-practiced in payment technology to build a product that meets industry standards as well as your unique vision.

On the other hand, the flexibility of self-built solutions will work to your advantage. As it is your very own product, you can adjust and design it to meet your every need — and even apply it in your subsidiaries or license it to third parties. What’s more, the initial development will redeem given time, and maintaining and further development of your payment product will be easier and thus less expensive in the long run. And finally, all innovations and feature updates in your product derive from your business vision alone — no need to work around changes made by third parties.

IMPLEMENTING YOUR CUSTOM PAYMENT ORCHESTRATION LAYER WITH A SOFTWARE PARTNER

Did we say “two approaches”? Of course, it is perfectly possible to aim for the middle ground between the extremes. And that means: You build your own custom solution on top of a payment framework, which already features the most important functionalities of Payment Orchestration. In addition, you can bring in a technological partner, who assumes a great deal of the development work. They would cover your team’s back, so your employees can cater to your bread-and-butter business.

May we introduce…

CoreWallet is an API-based software framework for payment, e-wallet, and virtual account management solutions. It was created by software engineers with decades of experience in the payment and banking industry. Based on industry standards, CoreWallet comes with flexible extension points, which make integration of new PSPs and compliance with regulatory processes on new markets easy and straightforward.

Learn More about Payment Operations Solutions

Bridger Pay offers Payment operation technology for making smarter decisions in real-time. The platform consolidates all available processing data to provide you with relevant guidance to improve your revenue streams, managed via a single admin portal.

The platform cascades transaction processing across providers and countries to maximize conversions. Features a cashier and admin portal, customizable and providing full control of transaction routing. The Briger Button creates multiple revenue channels by allowing you to create a payment button and embed it in any website page.

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BridgerPay — Learn More

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xettle-technologies · 6 months ago

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How New Fintech Technologies Are Reshaping Banking and Payments ?

The financial services industry is undergoing a profound transformation driven by the rapid evolution of fintech. With innovations ranging from artificial intelligence (AI) to blockchain, fintech new technologies are fundamentally changing how banking and payments operate. These technologies bring greater convenience, efficiency, and accessibility to financial transactions, offering revolutionary ways to manage money, process payments, and deliver banking services.

This article explores how fintech is reshaping banking and payments, highlighting the role of Fintech Services and advanced Solutions Services in this new era of finance.

A New Era for Banking

Traditional banking models have long been constrained by inefficiencies such as slow transaction processing, reliance on physical branches, and limited accessibility for underserved populations. Fintech new technologies are addressing these challenges head-on, enabling banks to offer more streamlined, customer-centric services.

1. Digital-First Banking

Many banks are adopting a digital-first approach, using fintech solutions to create seamless online and mobile banking experiences. Customers can now open accounts, transfer money, and apply for loans with just a few clicks. These services eliminate the need for physical paperwork, reduce processing times, and make banking more accessible.

2. Open Banking Revolution

Open banking, powered by APIs (Application Programming Interfaces), allows third-party developers to create applications that connect directly to banking systems. This fosters competition and innovation, empowering customers to choose from a range of personalized Fintech Services tailored to their needs. For example, budgeting apps and investment platforms now integrate directly with users’ bank accounts for real-time financial management.

3. Financial Inclusion

One of the most significant impacts of fintech in banking is its ability to extend services to unbanked and underbanked populations. Mobile banking apps and digital wallets provide people in remote areas with access to savings, loans, and payment solutions without requiring physical bank branches.

Revolutionizing Payments

The payments sector has experienced a wave of innovation, driven by the need for faster, safer, and more efficient transactions. Fintech new technologies are at the forefront, redefining how businesses and individuals handle payments.

1. Contactless Payments

The rise of contactless payments, through NFC (Near Field Communication) technology and QR codes, has revolutionized point-of-sale transactions. Consumers can now make secure payments using their smartphones or contactless-enabled cards, reducing the reliance on cash and improving transaction speed.

2. Real-Time Payments

Traditional payment systems often involve delays, particularly in cross-border transactions. Fintech technologies like blockchain and payment gateways have introduced real-time payment solutions, enabling funds to be transferred instantly, regardless of geographic location. This is particularly valuable for businesses looking to streamline operations and improve cash flow.

3. Payout Solutions for Businesses

Advanced payout systems are simplifying how businesses disburse funds to employees, vendors, and customers. These Solutions Services offer automated processes that reduce administrative burdens, enhance accuracy, and ensure timely payments. For example, Xettle Technologies provides innovative payout solutions that help businesses manage disbursements efficiently and securely.

Key Fintech Technologies Driving Change

1. Blockchain

Blockchain technology is revolutionizing banking and payments by offering decentralized, tamper-proof ledgers. It enhances transparency, reduces fraud, and eliminates intermediaries, making processes like cross-border payments faster and more affordable.

2. Artificial Intelligence (AI)

AI plays a crucial role in modern fintech solutions, powering everything from fraud detection to personalized financial advice. AI-driven chatbots enhance customer service, while predictive analytics help banks and payment providers anticipate user needs and offer tailored solutions.

3. Biometric Security

Biometric authentication, such as fingerprint and facial recognition, is becoming a standard feature in fintech applications. This technology strengthens security, ensuring that only authorized users can access sensitive financial information.

4. Embedded Finance

Embedded finance integrates financial services directly into non-financial platforms, such as e-commerce websites or ride-sharing apps. This allows users to access payment and banking services seamlessly without switching platforms.

The Benefits for Consumers and Businesses

1. Enhanced Convenience

With fintech technologies, consumers can manage their finances anytime, anywhere. From checking account balances to making international payments, the level of convenience has never been greater.

2. Cost Efficiency

Fintech solutions reduce costs for both providers and consumers by eliminating inefficiencies and intermediaries. For businesses, automated Solutions Services like invoicing and payroll management lead to significant savings in time and resources.

3. Security and Trust

By leveraging blockchain and AI, fintech ensures secure transactions and robust fraud prevention. These advancements build trust among users, encouraging the adoption of digital banking and payment systems.

Challenges and Future Outlook

While fintech has revolutionized banking and payments, it is not without challenges. Regulatory compliance remains a critical concern, particularly for technologies like blockchain and open banking. Additionally, cybersecurity threats continue to evolve, requiring constant vigilance and innovation.

Looking ahead, the integration of technologies such as quantum computing and decentralized finance (DeFi) promises to drive further transformation. The future of banking and payments will likely feature even more personalized services, enhanced interoperability, and greater global connectivity.

Conclusion

The rise of fintech has reshaped the banking and payments landscape, introducing innovations that solve longstanding inefficiencies and improve user experiences. From digital-first banking to real-time payments, fintech new technologies are driving the industry toward greater accessibility, security, and efficiency.

With the continued evolution of Fintech Services and advanced Solutions Services, businesses and consumers stand to benefit from unprecedented levels of convenience and innovation. Companies like Xettle Technologies are leading the charge, offering tailored solutions that help businesses thrive in this dynamic financial environment. As fintech continues to push boundaries, the future of banking and payments is poised to be faster, smarter, and more inclusive.

#fintech software #development #marketing #technology

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routefusion · 1 year ago

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Revolutionize Global Transactions with Cross Border Payouts API

Discover how Cross Border Payouts API can streamline your international payments, reduce costs, and enhance efficiency for your global business operations.

In the age of globalization, efficient and reliable international payment solutions are vital for businesses of all sizes. A Cross Border Payouts API offers an innovative way to handle global transactions, making it easier, faster, and more cost-effective to send money across borders. Here’s how integrating a Cross Border Payouts API can transform your business:

1. Streamlined International Payments:

A Cross Border Payouts API simplifies the process of sending money internationally. By integrating this API into your existing systems, you can automate payouts to suppliers, freelancers, and partners worldwide with just a few clicks. This reduces the time and effort involved in manual processing, allowing your team to focus on more strategic tasks.

2. Cost Efficiency:

Traditional cross-border payment methods often come with high fees and unfavorable exchange rates. With a Cross Border Payouts API, you can access competitive rates and lower transaction fees, significantly reducing your overall payment costs. This is especially beneficial for businesses that make frequent or large-volume international transactions.

3. Enhanced Transaction Speed:

In the fast-paced global market, time is money. Cross Border Payouts APIs enable near-instantaneous transfers, ensuring that your payments reach recipients quickly. This can improve your cash flow management and enhance relationships with international partners by providing them with prompt payments.

4. Transparent and Secure Transactions:

Security and transparency are paramount when dealing with financial transactions. Cross Border Payouts APIs offer robust security features, including encryption and compliance with international regulations, ensuring that your transactions are safe. Additionally, real-time tracking and reporting capabilities provide complete transparency, allowing you to monitor the status of your payments at any time.

5. Scalability and Flexibility:

As your business grows, so do your payment needs. A Cross Border Payouts API is highly scalable, allowing you to handle an increasing volume of transactions without any hassle. Whether you’re a startup or an established enterprise, this solution can adapt to your evolving requirements.

In conclusion, integrating a Cross Border Payouts API into your business operations can revolutionize the way you handle international payments. It offers a seamless, cost-effective, and secure method for managing global transactions, ensuring that your business remains competitive and efficient in the global market. Embrace this technology today to unlock new opportunities and streamline your financial operations.

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transficom · 6 months ago

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Revolutionizing Global Payments for Effortless Transactions

Introducing TransFi: A Native Web3 Cross-Border Payments Company

Why TransFi?

Here’s what makes TransFi the go-to global payment solution:

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4. Enterprise-Grade Security

5. Developer-Friendly API Integration Platform Services

Simplifying Payments for All Industries

Effortless Collections and Payouts

Effortless Digital Asset Transactions

Buying and selling digital assets globally has never been easier. TransFi's Ramp allows you to convert fiat and digital assets in just a few clicks, ensuring fast transactions with competitive rates. Supporting 50+ digital assets across 35+ blockchains and available in 100+ countries, our platform meets diverse investment needs.

Building the Future of Global Payments

Contact TransFi Today

Ready to transform how you handle cross-border transactions? Get in touch with TransFi to explore the best solutions for your business and enjoy borderless payments with boundless potential.

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cardsvistas · 5 years ago

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Five Solid Evidences Attending Visa Logo Icon Is Good For Your Career Development | visa logo icon

The arch banking administrator for one of the world’s better agenda networks is eyeing two opportunities alfresco its acceptable agenda business that he believes will be key acquirement drivers.

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As consumers and businesses move their spending online, agenda payments accept appear to accommodate added than aloof cards. That’s why Visa, attractive to advance its cachet as a payments processing giant, is affective above cards, too.

“The ambit of what we can do has awfully expanded,” Vasant Prabhu, CFO of Visa, told Business Insider.

Read more: Visa’s fintech arch lays out how a new affairs to accompany startups on lath in aloof a few weeks will advice tap a $185 abundance opportunity

Visa is focused on two areas alfresco of its acceptable agenda business: new acquittal flows and added appearance like consulting, abstracts solutions, and artifice monitoring.

New payments accommodate things like peer-to-peer transfers and business-to-business payments, area it sees a $185 abundance bazaar opportunity. Meanwhile, Visa says that revenues from its add-on casework grew alert as fast as its acceptable agenda payments business in 2019.

“The use cases are amazing and cogent and we will advance them over time.” Prabhu said. “This is a actual abiding advance trajectory.”

Largely, it’s all allotment of Visa’s efforts to become a ‘network of networks.’ And while that web of processors, issuers, marketplaces, and consumers can be adamantine to untangle, one affair is clear: Visa wants to be complex in any and every affectionate of payment, agenda or otherwise.

“Our mission is to be a arrangement of networks and to move money anyhow and anywhere you appetite to move your money, with the security, the reliability, the altercation resolution capabilities, and all the added things that we offer,” Prabhu said.

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At its Investor Day in February, Visa said through its aegis and abstracts offerings it could accomplish as abundant as $3.5 billion in acquirement this year, which would be a 20% admission from 2019.

“The value-added casework are the different things we can do because of who we are,” Prabhu said.

From abstracts insights to artifice reduction, a key allotment of these casework is that they not alone accessible up new acquirement for Visa, but can admission business from preexisting clients.

Travel Predict, for example, can advice arising banks adumbrate back its barter will biking internationally, accretion cross-border spend.

In rolling out these new articles and features, Visa’s antecedent alternative is to accomplice with added players in the market, Prabhu said. Visa’s Fast Track program, for example, is a automated way for the agenda arrangement to accompany fintechs into the fold.

Read more: We talked to Mastercard’s admission CEO about why the agenda behemothic is spending $825 actor to buy financial-data startup Finicity and how it compares to the Visa-Plaid deal

But back there are articles Visa wants to action itself, it’s faced with a decision.

“Occasionally there are capabilities we charge to have, and we can adjudge whether we appetite to buy or body them,” Prabhu said. “Sometimes we accept to buy them, best of the time we accept to body them.”

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Visa acquired Verifi, a altercation resolution platform, and Payworks, an in-store point-of-sale provider, aftermost year. And best recently, Visa appear affairs to admission abstracts unicorn Plaid.

A key acumen Visa approved to buy Plaid was its adeptness amid the fintech community, Prabhu said.

“The address of Plaid was the actuality that it’s the basics and bolts, the absolute basement that fintechs are application to get admission to people’s banking accounts,” Prabhu said.

“We accept an befalling to not alone enhance what Plaid can action them, but body in added casework for the fintech community,” he added.

While agenda payments accept continued been Visa’s aliment and butter, consumers and businesses are more attractive for new, faster agency to pay.

“New payments flows are what allows us to go above our acceptable business of merchant payments into absolutely new agency money moves,” Prabhu said.

A big allotment of that is Visa Direct, an API-based belvedere that enables real-time payments.

“Visa Direct enables a accomplished agglomeration of new use cases that are absolutely new to us, that we never absolutely alternate in for best of our history,” Prabhu said.

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One such use case is burning payouts for gig workers. Companies like Lyft and Care.com, for example, action their workers the adeptness to get paid out instantly. To do that, they assignment with their payments provider, Stripe. And for Stripe to action its barter burning payouts, it’s application Visa Direct tech.

Providing the back-end tech for these payments agency that Visa keeps the transaction on its network, earning processing fees.

Peer-to-peer payments, too, accept taken off in contempo years via the brand of Square’s CashApp, PayPal’s Venmo, and the big banks’ Zelle.

Visa has additionally partnered with the brand of Postmates and becoming allowance admission startups like DailyPay and PayActiv, powering their adeptness to get workers paid on-demand.

“There’s a lot of money abounding person-to-person, and a lot of it flows on Visa credentials,” Prabhu said.

POWER PLAYERS: These are the 11 American Express advisers arch the agenda giant’s acceptance of agenda payments

Visa’s fintech arch lays out how a new affairs to accompany startups on lath in aloof a few weeks will advice tap a $185 abundance opportunity

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Rivals Visa, Mastercard, Amex, and Discover are partnering up for one-click checkouts to attempt with the brand of Apple Pay and PayPal as e-commerce booms

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