Michael Seaman , Co-founder and CEO of Swipesum , is at the forefront of transforming payment processing and merchant services . Founded in 2016 with his brother , Stephen , Swipesum leverages AI and proprietary software to create transparent , optimised payment strategies for businesses nationwide . Recognised by the Inc . 5000 for its remarkable growth , the company is reshaping the payments landscape . In this interview , Michael shares insights into the evolving world of payment solutions , Swipesum ’ s journey and the vision driving its success .

What are card-not-present ( CNP ) transactions , and why have they seen a significant rise in recent years ?

As online ordering and e-commerce transactions increase , other brick-andmortar businesses encourage their customers to switch to CNP transactions . Convenience is a large determining factor pushing consumers to use their apps and order ahead , which inevitably is growing this trend . Retail , QSR and even

convenience stores continually push their customers to switch to CNP payment methods . In today ’ s digital landscape , it ’ s no surprise that this trend is growing in popularity .

How do network tokens work , and how are they different from traditional payment card details in terms of security and functionality ?

Network tokens are digital identifiers used in payment systems to represent a credit or debit card number in a secure and tokenised form . Each network token is dynamic , meaning it can include transaction-specific data , such as merchant details , making unauthorised reuse virtually impossible . Tokens completely replace sensitive card details with a unique , encrypted identifier , decreasing the risk of fraud and identity theft . Tokens also allow for real-time updates . If a card is lost , stolen or replaced , the token is updated with this information in real time , ensuring uninterrupted transactions without the need for manual updates by the customers .

Unlike traditional card details that are static and vulnerable , if stolen , these unique identifiers are specific to the transaction or merchant and greatly reduce exposure to data breaches . Network tokens also have a limited use . They can be restricted to a specific environment or merchant , whether that be an in-app , online or in-store transaction , the token will not be effective outside of its designated circumstances . Lastly ,

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