NEW WORLD ORDER: REAL-TIME PAYMENTS
Instant gratification The world of payments is moving at warp speed and providers must keep up, or fade into insignificance, say ING’s Mark Buitenhek and Dome Scaffidi from Volante Technologies The winds of change sweeping through global payments have fast turned hurricane force. And those, be it banks or corporations, that have failed to batten down the hatches by readying themselves for a new world where instant is the watchword, are at huge risk of being blown away by competitors that have. Consider the evidence. The
unquenchable appetite for frictionless digital transactions was vividly demonstrated during the sudden and dramatic lifestyle changes forced upon most of us by the COVID-19 pandemic, which supercharged an already high-speed transformation away from traditional financial processes in favour of real-time payments. Then throw in the continuing rise of cross-border, instant payment rails such as SWIFT gpi for
No time for tardiness: Users won’t tolerate anything short of immediacy in payments
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ThePaytechMagazine | Issue 12
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