OFF THE BOOKS
Paymentology ’ s platform seamlessly integrates with financial institutions , FinTechs and businesses within their preferred cloud environment without incurring additional costs or lengthy development cycles .
Another crucial enabler of fast time-tomarket is the breadth of core services Paymentology offers . Typically , banks and FinTechs need to work with about 12 partners to launch a card programme ; Paymentology ’ s holistic payments platform allows clients to package some of these capabilities together , streamlining the development and launch of new payments products .
The combination of cloud-native infrastructure , provided by only a handful of global issuer processors , extensive regional expertise and a highly configurable platform enables Paymentology to launch new payments products within a matter of weeks and not years .
Looking ahead , what emerging trends in the FinTech industry excite you the most and how do you envision Paymentology positioning itself to seize these opportunities for future growth and innovation ?
We ’ re at an extremely exciting stage in the payments industry ; the groundwork has been laid for a decade of fast innovation in payments products , which is only just beginning . Crucially , the technology underpinning the next generation of card programmes is entirely cloud-based , owing to decreased costs and significantly improved interoperability .
Chief of these technologies is tokenisation , bolstering the security of payments by replacing sensitive card data with tokens , whilst also enabling Paymentology to issue virtual cards . Hybrid cards are also a significant innovation , enabling consumers to switch currencies , flip between debit and credit functions and even support the conversion of digital assets . In addition , the digital wallet market is undergoing a significant transformation in many developing markets as issuers launch their own digital wallets . Issuers are working closely with the industry to launch contactless payment capabilities that better enable merchants and consumers to adopt digital payments , boosting financial inclusion . Cloud hosting is an essential enabler of every significant avenue for innovation in payments , enabling interoperability to thrive as technical advancements are adopted .
This high rate of innovation is enabling the globalisation of payments , with barriers coming down between consumers and businesses separated by country lines . Cross-border payments and especially remittances , are seeing key reductions to transfer fees and settlement times , whilst the e-commerce industry is expanding across borders with help from standardised APIs and the rise of digital wallets .
What steps would you recommend someone take to successfully navigate and advance their career within the rapidly evolving field of FinTech ?
FinTech is an extremely competitive market , which celebrates unique ideas and hard work . Finding a purpose and an end goal and working backwards , be it financial inclusion , sustainability or any other ambition of our industry , should give an individual the drive they need to excel and make a difference in the FinTech industry .
I think it is also important to dive deep into the fundamentals ; the FinTech community is extremely passionate about the details and it pays to know your way around the recent innovations and advancements in payments technology .
Finally , I would recommend just giving it a go . As I said at the start there is no room for passengers in FinTech ; the industry moves too quickly . In my experience , the most successful people are those who just throw their hat into the ring , get involved and run as fast as they can . Don ’ t stress about role descriptions , don ’ t worry if this is not taking you down the exact career path you dreamt of . It is an evolving industry and opportunities will always present themselves for the right people with the right attitude . � www . intelligentfin . tech
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