Historically, most of the payments were made through cash or cheques; however, with digitization things have changed now. From bitcoins to digital wallets, payment industry has evolved. These cutting-edge technologies are redesigning the conventional model of payment services to alleviate cumbersome transaction methods whether paying in-store, online or via a mobile device.
These significant changes are also leading to the launch of new payment platforms and tools rapidly, almost on a daily basis. New age payment processes, like Mobile payments, are not just changing how consumers are spending but also transforming the way of accepting, securing and facilitating payments. These unconventional payment processes are majorly powered by cloud-hosted software that provides a unified transaction platform easily reached anywhere just with one touch. Artificial intelligence (AI) and Machine Learning (ML) are also helping in revolutionizing the way payments are processed. AI can reduce processing times for payments while removing human error, on the other hand, ML acts as a valuable part of fraud detection.
With a variety of solution providers in the market, finding the right solution is often a complicated task for the businesses. To help them in making the right choice, Banking CIO Outlook has put together a list of top payment and card solution providers. This list has been compiled by a distinguished panel of CEOs, CIOs, VCs, industry analysts, and Banking CIO Outlook’s editorial board. It will help CIOs, CTOs, and CEOs make the right choice while deciding their payment partners.
We present to you Top 10 Payment & Card Solution Providers - 2018.