The payments industry has evolved significantly over the years—from simple cash payments to bank cards and now transforming with contactless functionality. In this digitally-driven era, developments such as near-field communication technology (NFC), mPOS, and wearables are becoming the norm.
NFC has recently gained traction in response to the demand for IoT-enabled technology to streamline and accelerate payment processes. As a technology that ensures secure two-way exchange between electronic devices, NFC enables consumers to carry out contactless transactions, access digital content, and connect with electronic devices with a single tap on their mobile devices. Alongside, wearables technology is among the most recognized inventions emerging from the IoT disruption, and the number of payments made through wearables is expected to rise exponentially. The upsurge of NFC technology and wearable devices has also accelerated the transition of the traditional cash register, resulting in the growth of the mPOS market. However, at this juncture, payment vendors need to ensure security of the mPOS systems by adhering to the PCI compliance to accept encrypted payments from chip cards or NFC-based payments.
It goes without saying that rampant technology advancements have been the underlying force behind the massive change in the payments arena. In the wake of these advancements businesses, however, need to quickly adapt to the changes to remain relevant in the market. That said, we bring you a list of the finest payment solution providers and showcase their abilities that will help you in staying ahead in the market. Our distinguished panel comprising of eminent CEOs, CIOs, VCs, and analysts, along with CIO Advisor’s editorial board has shortlisted the prominent payment solution providers in the industry.
We present you “Top 10 APAC Payment Solution Companies - 2019.”