AI for Faster, Secure Payments

Generative AI has taken the world by storm and the exponents in this segment continue to remain bullish on the potential of the technology to benefit the humanity. Meanwhile a large segment remains worried about lack of regulation and unprecedented challenges this could pose to the society, and continue to pursue the legislations to ensure the usages of these technologies for the overall benefit.

Given the focus, attention and proven capabilities, industry expects AI to have significant impact on varied levels of society and operating as a catalyst in numerous segments to drive new
innovations and foster changes at a faster pace. With the ability to accomplish far more functionalities in far less time and capable of assisting humans in profound ways, AI will refine and redefine several business domains and improve for the good.

Open Banking Payments

Open Banking presents the next major evolution associated with banking and financial services driven by the technology advancements in mobile, internet and financial technology domains leading to a whole new way in which financial data, account information etc. can be handled and utilized for
smarter ways towards making payments. Based on the latest financial services standards, Open Banking enables the consumers’ banking and financial account details be access by third part financial services providers utilizing the APIs defines for these purposes.

Upon the consumers’ authorization
such information could be further transmitted to third party businesses from the financial institutions, thereby opening up a whole new, frictionless, and convenient way to make payment and redefining the banking for the future in a whole different perspective.

Central Banks Digital Currency
(CBDC) Payments

Central Bank Digital Currency is the culmination of digitization in payments with not only the payment process being digitized, but also the basic payment instrument being fully digitized with all the necessary security, authentication, protection mechanisms, while enabling the public to maximally
benefit from this process.

Typically, this will be the responsibility of the Central Bank of a nation to come up with the CBDC which is pegged on par with the currency of the nation and define mechanisms to enable the population to utilize this for digital payments which constitutes the retail CBDC payments.

A2A Payments - Real Time Payments & Faster Payments

A2A/P2P/M2M(Account to Account/Person to Person/Mobile to Mobile) payments represent the mobile wallet or mobile application based direct Account to Account payment scheme
launched in several countries by the respective Central Banks or Federal Payment Agencies for faster adoption of digital payments with the direct interconnect of the associated member banks.

Payment Industry’s Evolution and Transformation to Cloud Based Infrastructure

The rapid transition to a virtualized cloud payment infrastructure is becoming a major, global phenomenon in the payment industry. The ability to transform from existing payment modes, to a cloud ready payment application is offering tremendous opportunities for the industry to expand and evolve. Migration to a cloud payment system is the smartest choice for payments to handle the increasing volume demands and need for heightened security.

Electronic Payment Card Transactions

Early electronic payment card (EPC) transaction networks required a merchant cashier to write-up and manually enter each transaction. The cashier provided the majority of the transaction support. A customer’s involvement was typically limited to presenting the card and then signing a receipt. At the end of the business day; the merchant processed their EPC transactions with the rest of their sales records.

Blockchain and Payment Systems

Blockchain technology has fast caught up as the technology of the future for the payment, banking and financial industry. The technology comprises of a set of blocks that are constructed into a chain as each transaction occurs. This chain of transactions cannot be reversed, changed or manipulated in any way once it is formed. The fact that the information cannot be altered, and the system is decentralized makes it one of the most attractive technologies to use for payments and financial transactions.

Blockchain technology can improve the security, speed and cost of each payment and holds significant opportunities to provide multiple user benefits, including a more secure and transparent way of making and tracking payments within the existing financial system, even when using fiat currencies or with digital currency.

Whitepaper – Cloud Subscription & Recurring Payments Acquiring

Software as a Service has taken the world by storm and more and more solutions and applications are now available on the Cloud as a SaaS based offering with subscription pricing. While the majority of customer information and software services information are available and securely handled by Cloud Services Providers, key payment infrastructure interface is not directly accessible for CSPs driving them to work with Payment Gateways to handle the payment ecosystem interfacing.

Whitepaper – 5G & Mobile, IoT Payments

The payment revolution is here with 5G. 5G promises a whole new world of in nite possibilities and rewriting the world as we know, with assurances for an unprecedented level of connectedness among humans, machines, devices, and networks.

Basics of SSL for IP Financial Transactions

Secure transport of business critical data has enabled the proliferation of a broad range of financial transactions, e-commerce and e-banking services across the Internet.

PCI DSS 3.0 Requirements & Compliance

PCI requirements for transaction transport are reviewed along with providing detail on how NewNet Secure Transaction systems provide PCI DSS certified confidence.

The Keys to Becoming a Successful Acquirer of Transactions in a Changing Payment Environment

Driven by increased demand for mobile and electronic commerce, higher data volumes, the proliferation of new devices and emerging network and back-office technologies the payment system is changing.

Payment Transaction Security & Enforcement

NewNet offers payment transaction transport solutions for secure transaction aggregation, routing & switching of the card/wallet based transactions originating from dial, broadband and mobile POS/POI devices or web/mobile web based payment devices and securely transport these transactions to authorization servers for timely approval of these transactions utilizing the most secure means for transport.

Payments with Smart Mobiles as Point Of Sales Terminals and Security

Payment devices have undergone rapid transformation. With the latest PCI standards to support PIN entry on smart devices, millions of mobile devices are now open to become payment terminals. The key requirements for the floodgates to open include smart, user friendly and exciting payment application tailored for the respective payment user interactions, ergonomic end user device designs, and intelligent security solution to ensure the overall security of payments through these devices.