__NUXT_JSONP__("/newsroom/payments-landscape/boosting-payment-sustainability", (function(a,b,c,d,e,f,g,h,i,j,k,l,m,n,o,p,q,r,s,t,u,v,w,x,y,z,A,B,C,D,E,F,G,H,I,J,K,L,M,N){return {data:[{ready:true,news:{_updatedAt:"2024-10-01T15:04:01+01:00",_publishedAt:"2024-10-15T08:00:00+01:00",title:"Boosting sustainability in payments",id:"OBqYQJ3ASsmjrEXmAbkI3w",categories:[{id:i,slug:j}],authors:[],excerpt:f,hideFeaturedImage:C,featuredImage:{responsiveImage:{srcSet:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1700751716-payment_sustainability.jpg?auto=format&crop=focalpoint&dpr=0.25&fit=crop&h=513&w=1026 256w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1700751716-payment_sustainability.jpg?auto=format&crop=focalpoint&dpr=0.5&fit=crop&h=513&w=1026 513w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1700751716-payment_sustainability.jpg?auto=format&crop=focalpoint&dpr=0.75&fit=crop&h=513&w=1026 769w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1700751716-payment_sustainability.jpg?auto=format&crop=focalpoint&fit=crop&h=513&w=1026 1026w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1700751716-payment_sustainability.jpg?auto=format&crop=focalpoint&dpr=1.5&fit=crop&h=513&w=1026 1539w",src:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1700751716-payment_sustainability.jpg?auto=format&crop=focalpoint&fit=crop&h=513&w=1026",width:1026,height:513,alt:r,title:f},alt:r,url:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1700751716-payment_sustainability.jpg",title:f,width:s,height:D,mimeType:E},flexibleContent:[{_modelApiKey:"news_introduction_block",anchorId:f,text:"\u003Cp\u003EThe payments industry is the cornerstone of the global economy, and digitisation continues apace. Today we’re seeing continued innovation to ensure payments are secure, effective and fast. But are they sustainable? With around 78% of consumers stating that sustainability is important for their online transactions, it’s a key question to ask.\u003C\u002Fp\u003E\n\u003Cp\u003EHere’s how the payments industry is working towards boosting payment sustainability in the future.\u003C\u002Fp\u003E\n",desktopBottomPadding:g,desktopTopPadding:k,mobileBottomPadding:g,mobileTopPadding:l},{_modelApiKey:m,anchorId:f,text:"\u003Cp\u003ESociety’s previous overreliance on physical cash has always had an environmental impact. Manufacturing bank notes or minting new coins requires plenty of natural resources, as well as electricity and fuel. The transportation of physical cash also means more vehicles on the roads too.\u003C\u002Fp\u003E\n\u003Cp\u003EIn fact, according to a 2021 study in the US, based on the resources used and CO2 released, it costs the environment $0.26 for every $1 note produced. Simply by driving more towards a cashless society, we can dramatically reduce our environmental impact.\u003C\u002Fp\u003E\n",title:"Going cashless to reduce CO2",form:a,desktopBottomPadding:g,desktopTopPadding:k,mobileBottomPadding:g,mobileTopPadding:l},{_modelApiKey:m,anchorId:f,text:"\u003Cp\u003EYet, being cashless isn’t a pure environmental win. We have to consider credit and debit cards too. Payment cards are created from PVC (polyvinyl chloride) and require EMV chips to transmit data. These plastic cards don’t biodegrade and produce a lot of greenhouse gases.\u003C\u002Fp\u003E\n\u003Cp\u003ESo, how can the payments industry push towards a more sustainable future? By going even more digital. Alternative pure digital payment methods reduce the need to use cards at all. For example, virtual cards negate the need to produce new plastic cards – as well as the need to post them to customers. Paying through \u003Ca href=\"https:\u002F\u002Faevi.com\u002Fnewsroom\u002Fpayments-landscape\u002Fdigital-wallet-changing-digital-payment-landscape\"\u003Edigital wallets\u003C\u002Fa\u003E uses pre-existing and ubiquitous infrastructure – smartphones and mobile networks – which will reduce the footprint of payments even further.\u003C\u002Fp\u003E\n\u003Cp\u003EThey both also reduce the need for paper receipts. According to statistics from the US, the annual production of receipts in the States alone requires 10 million trees and 250 million gallons of oil. Digital receipts are an easy and sustainable choice to make. Smartphones, as well as internet based technologies, reduce the need for paper receipts by allowing customers to receive and store digital receipts electronically through the wallet directly, email or app.\u003C\u002Fp\u003E",title:"The trouble with cards",form:a,desktopBottomPadding:g,desktopTopPadding:k,mobileBottomPadding:g,mobileTopPadding:l},{_modelApiKey:m,anchorId:f,text:"\u003Cp\u003EDigital payments do also come with payment sustainability concerns. The processing of digital transactions relies heavily on cloud and mobile infrastructure powered by data centres that use a lot of energy. In fact three-quarters of the energy used by the payments industry comes from the processing of digital operations.\u003C\u002Fp\u003E\n\u003Cp\u003EThe solution for many lies in the use of renewable energy. According to the Netherlands National Bank, the payments industry could reduce its environmental impact by 44% simply by using renewable energy for data centres and payment terminals, alongside increasing the lifespan of cards already in existence.\u003C\u002Fp\u003E\n\u003Cp\u003EMany companies in the payments industry – such as Mastercard – are also running initiatives to plant trees to offset their carbon emissions, as well as educating consumers about how to make sustainable purchasing decisions.\u003C\u002Fp\u003E\n",title:"Green energy is needed to drive payment sustainability",form:a,desktopBottomPadding:g,desktopTopPadding:k,mobileBottomPadding:g,mobileTopPadding:l},{_modelApiKey:m,anchorId:f,text:"\u003Cp\u003EWhen it comes to taking payments in the physical world, there are sustainable strides to be made too. We’re already seeing \u003Ca href=\"https:\u002F\u002Faevi.com\u002Fpropositions\u002Fsmb-starter-pack\"\u003EPOS terminals\u003C\u002Fa\u003E being made from recycled plastic. Plus, the push to use SoftPOS terminals whereby merchants take payments on smartphones or other enabled devices again relies on existing technology and ubiquitous infrastructure.\u003C\u002Fp\u003E\n\u003Cp\u003EThe capability to round up payments at point-of-sale to give to charity can also make a huge difference to environmental charities.\u003C\u002Fp\u003E\n",title:"Making POS terminals green",form:a,desktopBottomPadding:g,desktopTopPadding:k,mobileBottomPadding:g,mobileTopPadding:l},{_modelApiKey:m,anchorId:f,text:"\u003Cp\u003EAs more consumers use digital payments, it drives the increase of available data across the payment ecosystem. This data can in turn act as a valuable resource for merchants, \u003Ca href=\"https:\u002F\u002Faevi.com\u002Fwho-we-serve\u002Fpsps-isos\" target=\"_blank\" rel=\"noopener\"\u003Epayment service providers (PSPs)\u003C\u002Fa\u003E, \u003Ca href=\"https:\u002F\u002Faevi.com\u002Fwho-we-serve\u002Fisvs\" target=\"_blank\" rel=\"noopener\"\u003EISVs\u003C\u002Fa\u003E and card issuers to offer helpful insights. These can then be used to optimise and evaluate processes to make better sustainable decisions. All organisations involved in the payment process can make steps towards reducing their carbon footprints.\u003C\u002Fp\u003E\n\u003Cp\u003EFor example, a retail business can use transaction data to analyse peak shopping hours and customer behaviour patterns. This information can help them adjust staffing schedules and reduce energy consumption during off-peak hours, contributing to a more sustainable operation.\u003C\u002Fp\u003E\n\u003Cp\u003EAdditionally, they could also track the environmental impact of shipping methods and make data-driven decisions to optimise delivery routes in a way that reduces emissions. In essence, transaction data provides valuable insights that enable businesses to align their operations with sustainability goals and make well-informed choices for a \u003Ca href=\"https:\u002F\u002Faevi.com\u002Fnewsroom\u002Fpayments-landscape\u002Fhow-payment-technology-helps-us-go-green\"\u003Egreener future\u003C\u002Fa\u003E.\u003C\u002Fp\u003E\n\u003Cp\u003EThe payment industry continues to innovate towards a more sustainable future. Strides have been made but there is still a long way to go. Discover more about Aevi and how our \u003Ca href=\"https:\u002F\u002Faevi.com\u002Fplatform\" target=\"_blank\" rel=\"noopener\"\u003Epayment platform\u003C\u002Fa\u003E facilitates digital payments both in-person and online.\u003C\u002Fp\u003E",title:"Digital payments offer essential data and insights",form:a,desktopBottomPadding:g,desktopTopPadding:k,mobileBottomPadding:g,mobileTopPadding:l}],newsType:{id:"9brJKTozS2iAMwJfXN4lHw",title:h},canonicalUrl:"https:\u002F\u002Faevi.com\u002Fnewsroom\u002Fpayments-landscape\u002Fboosting-payment-sustainability",hideFromSearchEngines:C,nofollow:C,removeTitleSuffix:a,seo:[{attributes:a,content:F,tag:"title"},{attributes:{property:"og:title",content:F},content:a,tag:d},{attributes:{name:"twitter:title",content:F},content:a,tag:d},{attributes:{name:"description",content:G},content:a,tag:d},{attributes:{property:"og:description",content:G},content:a,tag:d},{attributes:{name:"twitter:description",content:G},content:a,tag:d},{attributes:{property:"og:image",content:J},content:a,tag:d},{attributes:{property:"og:image:width",content:"1200"},content:a,tag:d},{attributes:{property:"og:image:height",content:"603"},content:a,tag:d},{attributes:{property:"og:image:alt",content:r},content:a,tag:d},{attributes:{name:"twitter:image",content:J},content:a,tag:d},{attributes:{name:"twitter:image:alt",content:r},content:a,tag:d},{attributes:{property:"og:locale",content:K},content:a,tag:d},{attributes:{property:"og:type",content:"article"},content:a,tag:d},{attributes:{property:"og:site_name",content:"Aevi"},content:a,tag:d},{attributes:{property:"article:modified_time",content:"2024-10-01T14:04:01Z"},content:a,tag:d},{attributes:{property:"article:publisher",content:"https:\u002F\u002Fwww.facebook.com\u002Faevidomore"},content:a,tag:d},{attributes:{name:"twitter:card",content:"summary_large_image"},content:a,tag:d}],videoSchema:a,schemaUploadDatetime:a,schemaName:f,schemaEmbedUrl:f,schemaDuration:f,schemaDescription:f,schemaImage:a,otherVideoSchemas:[],_allSlugLocales:[{locale:K,value:"boosting-payment-sustainability"}],_allReferencingPopups:[],relatedNews:[{id:"YNJvkNkyTTOznWEvMK57gA",title:"IaaS, PaaS, SaaS, and payments",slug:"iaas-paas-saas-and-payments",categories:[{id:i,slug:j}],thumbnailImage:{responsiveImage:{srcSet:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1728049951-paas_thumb.png?auto=format&crop=focalpoint&dpr=0.25&fit=crop&h=429&w=330 82w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1728049951-paas_thumb.png?auto=format&crop=focalpoint&dpr=0.5&fit=crop&h=429&w=330 165w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1728049951-paas_thumb.png?auto=format&crop=focalpoint&dpr=0.75&fit=crop&h=429&w=330 247w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1728049951-paas_thumb.png?auto=format&crop=focalpoint&fit=crop&h=429&w=330 330w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1728049951-paas_thumb.png?auto=format&crop=focalpoint&dpr=1.5&fit=crop&h=429&w=330 495w",src:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1728049951-paas_thumb.png?auto=format&crop=focalpoint&fit=crop&h=429&w=330",width:b,height:c,alt:t,title:a},alt:t,url:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1728049951-paas_thumb.png",title:a,width:L,height:M,mimeType:e},featuredImage:{responsiveImage:{srcSet:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1728049944-paas.png?auto=format&crop=focalpoint&dpr=0.25&fit=crop&h=429&w=330 82w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1728049944-paas.png?auto=format&crop=focalpoint&dpr=0.5&fit=crop&h=429&w=330 165w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1728049944-paas.png?auto=format&crop=focalpoint&dpr=0.75&fit=crop&h=429&w=330 247w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1728049944-paas.png?auto=format&crop=focalpoint&fit=crop&h=429&w=330 330w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1728049944-paas.png?auto=format&crop=focalpoint&dpr=1.5&fit=crop&h=429&w=330 495w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1728049944-paas.png?auto=format&crop=focalpoint&dpr=2&fit=crop&h=429&w=330 660w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1728049944-paas.png?auto=format&crop=focalpoint&dpr=3&fit=crop&h=429&w=330 990w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1728049944-paas.png?auto=format&crop=focalpoint&dpr=4&fit=crop&h=429&w=330 1320w",src:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1728049944-paas.png?auto=format&crop=focalpoint&fit=crop&h=429&w=330",width:b,height:c,alt:t,title:a},alt:t,url:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1728049944-paas.png",title:a,width:s,height:D,mimeType:e},newsType:{title:h},flexibleContent:[{text:"\u003Cul\u003E\n\u003Cli\u003E\n\u003Cp\u003E\u003Cstrong\u003E IaaS (Infrastructure as a Service) provides businesses with virtual infrastructure, offering flexibility and scalability, but requires skilled IT teams to integrate payment systems. \u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\n\u003Cstrong\u003E \u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\n\u003Cli\u003E\u003Cstrong\u003E \u003C\u002Fstrong\u003E\n\u003Cp\u003E\u003Cstrong\u003EPaaS (Platform as a Service) allows businesses to develop custom applications with built-in tools, simplifying the integration of tailored payment solutions across customer touchpoints.\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\n\u003Cstrong\u003E \u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\n\u003Cli\u003E\u003Cstrong\u003E \u003C\u002Fstrong\u003E\n\u003Cp\u003E\u003Cstrong\u003ESaaS (Software as a Service) offers ready-to-use software solutions with built-in payment processing, making it ideal for small businesses looking for an all-in-one, low-maintenance option. \u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\n\u003C\u002Fli\u003E\n\u003C\u002Ful\u003E\n\u003Cp\u003E\u003Cem\u003EDon't have time to read more now? \u003Ca href=\"#signup\"\u003ESign up to our newsletter\u003C\u002Fa\u003E to get the latest insights directly in your inbox. \u003C\u002Fem\u003E\u003C\u002Fp\u003E"},{text:"\u003Cp\u003EAs businesses grow and change, finding ways to improve operations while remaining flexible becomes the holy grail in staying competitive. Cloud computing offers various solutions, but choosing the right one isn’t always simple. \u003Ca href=\"https:\u002F\u002Faevi.com\u002Finfrastructure-as-a-service\"\u003EIaaS\u003C\u002Fa\u003E, \u003Ca href=\"https:\u002F\u002Faevi.com\u002Fplatform\u002Fplatform-as-a-service\"\u003EPaaS\u003C\u002Fa\u003E, and SaaS each play a specific role in helping companies achieve their goals, but understanding how these models differ, and how they integrate with your payment systems is the sweet spot, and ultimately key to aligning your technology with the financial needs of your business.\u003C\u002Fp\u003E\n\u003Cp\u003ELet’s explore PaaS, SaaS and IaaS in more detail and apply their benefits to specific use cases to get a better understanding of what might be right for you.\u003C\u002Fp\u003E"},{},{text:"\u003Cp\u003EIaaS offers businesses a virtual infrastructure, including servers, storage, networking, and virtualization. Think of it as leasing a piece of land. You get the foundation, and you have the flexibility to build whatever you want on top of it. You're in control of what you construct, but the burden of designing and maintaining the structure falls on you.\u003C\u002Fp\u003E\n\u003Cp\u003EPopular IaaS providers include:\u003C\u002Fp\u003E\n\u003Cul\u003E\n\u003Cli\u003EMicrosoft Azure\u003C\u002Fli\u003E\n\u003Cli\u003EAWS (Amazon Web Services)\u003C\u002Fli\u003E\n\u003Cli\u003EGoogle Cloud\u003C\u002Fli\u003E\n\u003Cli\u003ERackspace\u003C\u002Fli\u003E\n\u003C\u002Ful\u003E\n\u003Cp\u003E\u003Cstrong\u003EAn example of IaaS in use: \u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\n\u003Cp\u003ETake a large e-commerce company that needs the capacity to handle fluctuating traffic, especially during peak times like the holiday season. Rather than investing in physical servers, the company can use IaaS from providers like \u003Ca href=\"https:\u002F\u002Faws.amazon.com\u002Fwhat-is\u002Fiaas\u002F\" target=\"_blank\" rel=\"noopener\"\u003EAWS\u003C\u002Fa\u003E or \u003Ca href=\"https:\u002F\u002Fcloud.google.com\u002F\" target=\"_blank\" rel=\"noopener\"\u003EGoogle Cloud\u003C\u002Fa\u003E to scale up or down as needed. This reduces costs, and offers flexibility to adapt quickly.\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cstrong\u003EPayments in IaaS:\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\n\u003Cp\u003EPayments platforms integrated within IaaS models give businesses the flexibility to scale their payment processing as their infrastructure scales. This is especially useful during high-traffic periods when transaction volumes spike. However, integrating payments at this level often requires skilled IT teams, as you’re dealing with complex infrastructure. For example, Aevi's work on \u003Ca href=\"https:\u002F\u002Faevi.com\u002Fnewsroom\u002Fpayments-landscape\u002Fcreating-a-seamless-omnichannel-experience\"\u003Eorchestrating a seamless omnichannel ecosystem\u003C\u002Fa\u003E highlights how merchants can use tailored platforms to handle payments across multiple touchpoints efficiently.\u003C\u002Fp\u003E"},{text:"\u003Cp\u003EPaaS takes things a step further, where a third party provides the infrastructure, plus the development tools and resources needed to build custom applications. These offerings enable businesses to develop, run, and manage business applications without maintaining the infrastructure required for such software development processes. Returning to our analogy, PaaS is like leasing the land and getting the tools to build, but you don't need to worry about setting up plumbing or electricity. This is taken care of, allowing you to focus on creating your building.\u003C\u002Fp\u003E\n\u003Cp\u003EPopular PaaS providers include:\u003C\u002Fp\u003E\n\u003Cul\u003E\n\u003Cli\u003EMicrosoft Azure\u003C\u002Fli\u003E\n\u003Cli\u003EGoogle App Engine\u003C\u002Fli\u003E\n\u003Cli\u003EAWS Elastic Beanstalk\u003C\u002Fli\u003E\n\u003Cli\u003ERed Hat OpenShift\u003C\u002Fli\u003E\n\u003Cli\u003EOracle Cloud Platform (OCP)\u003C\u002Fli\u003E\n\u003Cli\u003EForce.com\u003C\u002Fli\u003E\n\u003C\u002Ful\u003E\n\u003Cp\u003E\u003Cstrong\u003EAn example of PaaS in use:\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\n\u003Cp\u003EA software development company working on a new app for small businesses might use PaaS to streamline their development process. Rather than building an entire infrastructure from scratch, they can use pre-built tools and libraries to accelerate development. This allows them to focus on innovating rather than worrying about the underlying hardware and software.\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cstrong\u003EPayments in PaaS:\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\n\u003Cp\u003EPaaS can be a great choice for businesses looking to integrate custom payment solutions into their platforms. Developers can leverage the tools and frameworks provided to build specialized payment systems or integrate third-party payment services, allowing for a smooth payment experience across \u003Ca href=\"https:\u002F\u002Faevi.com\u002Fnewsroom\u002Fpayments-landscape\u002Fcreating-a-seamless-omnichannel-experience\"\u003Edifferent customer touchpoints\u003C\u002Fa\u003E. In fact, as small and medium-sized merchants focus on growing their customer base through loyalty programs, PaaS solutions help them easily integrate these features into their applications. You can find out more about this in our \u003Ca href=\"https:\u002F\u002Faevi.com\u002Fnewsroom\u002Fpayments-landscape\u002Fexplaining-platform-as-a-service\"\u003EPaaS explanation article\u003C\u002Fa\u003E that talks specifically about how merchants can utilize PaaS to great effect.\u003C\u002Fp\u003E"},{text:"\u003Cp\u003ESaaS is like renting a fully furnished apartment. You don't have to build anything or worry about maintenance, you simply move in and start using the space. SaaS delivers ready-to-use software solutions via the cloud, allowing businesses to access applications without having to manage the underlying infrastructure or platform.\u003C\u002Fp\u003E\n\u003Cp\u003EPopular SaaS providers include:\u003C\u002Fp\u003E\n\u003Cul\u003E\n\u003Cli\u003EDropbox\u003C\u002Fli\u003E\n\u003Cli\u003ESquare\u003C\u002Fli\u003E\n\u003Cli\u003EShopify\u003C\u002Fli\u003E\n\u003Cli\u003EBigCommerce\u003C\u002Fli\u003E\n\u003Cli\u003EGoogle Workspace\u003C\u002Fli\u003E\n\u003Cli\u003ESalesforce\u003C\u002Fli\u003E\n\u003Cli\u003EHubspot\u003C\u002Fli\u003E\n\u003C\u002Ful\u003E\n\u003Cp\u003E\u003Cstrong\u003EAn example of SaaS in use:\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\n\u003Cp\u003EA small retail store might use SaaS for their point-of-sale system. Rather than building and managing their own software, they can use a SaaS product like Square or Shopify to handle everything from sales transactions to inventory management. This simplifies operations to the max and saves the business owner a lot of time and resources.\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cstrong\u003EPayments in SaaS:\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\n\u003Cp\u003EIn the SaaS model, payment processing is often a built-in feature. Most SaaS solutions come with integrated payment systems, so businesses don’t have to worry about setting up or managing separate payment platforms. This is particularly useful for small businesses that want an all-in-one solution. Stores that navigate peak shopping periods, \u003Ca href=\"https:\u002F\u002Faevi.com\u002Fnewsroom\u002Fmerchant-solutions\u002Fhow-stores-battle-the-cyber-five\"\u003Elike Cyber Five\u003C\u002Fa\u003E, use SaaS-based solutions, which allows merchants to efficiently handle high transaction volumes without having to manage the backend themselves.\u003C\u002Fp\u003E"},{text:"\u003Cp\u003EDeciding between IaaS, PaaS, and SaaS largely depends on the needs of your business. If you require complete control over your infrastructure and have the in-house expertise to manage it, IaaS may be the right fit. On the other hand, if you're looking to build custom applications but want to offload some of the heavy lifting, PaaS offers a great balance between flexibility and ease of use. And finally, if you're after a ready-to-go solution that requires little to no maintenance, SaaS is the way to go.\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cstrong\u003EOverall:\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\n\u003Cul\u003E\n\u003Cli\u003EIaaS is ideal for large businesses with fluctuating infrastructure needs and dedicated IT teams. It offers maximum control but requires skilled resources to manage.\u003C\u002Fli\u003E\n\u003Cli\u003EPaaS is perfect for developers and businesses focused on building custom apps without worrying about managing the underlying infrastructure.\u003C\u002Fli\u003E\n\u003Cli\u003ESaaS is the go-to for small businesses or organizations looking for a quick, easy-to-use solution without the need for technical expertise.\u003C\u002Fli\u003E\n\u003C\u002Ful\u003E"},{text:"\u003Cp\u003ERegardless of the model you choose, payments are a critical component that must integrate harmoniously with your system. IaaS provides the most control over payments but requires significant technical expertise. PaaS gives developers the tools to build custom payment solutions tailored to specific business needs, while SaaS simplifies everything by bundling payments into an all-in-one package.\u003C\u002Fp\u003E\n\u003Cp\u003ELooking at modern commerce, our \u003Ca href=\"https:\u002F\u002Faevi.com\u002Fplatform\"\u003Ecloud-based orchestration platform\u003C\u002Fa\u003E is at the forefront of transforming payment ecosystems across these models. Whether you're building a customized merchant platform or using a fully integrated solution, ensuring that your payments infrastructure is robust and scalable is crucial. Aevi’s platform helps merchants orchestrate a flexible and secure payment ecosystem across various channels, delivering an enhanced customer experience all round. \u003Ca href=\"https:\u002F\u002Faevi.com\u002Fget-in-touch\"\u003ELet’s talk\u003C\u002Fa\u003E about how we can utilize this platform to help take your payment solutions to the next level.\u003C\u002Fp\u003E"}]},{id:"IRJ67xhFRGKg440JcNN6zw",title:"How payment technology helps us go green",slug:"how-payment-technology-helps-us-go-green",categories:[{id:i,slug:j}],thumbnailImage:{responsiveImage:{srcSet:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727779597-paymentsgogreen-small-07.png?auto=format&crop=focalpoint&dpr=0.25&fit=crop&h=429&w=330 82w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727779597-paymentsgogreen-small-07.png?auto=format&crop=focalpoint&dpr=0.5&fit=crop&h=429&w=330 165w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727779597-paymentsgogreen-small-07.png?auto=format&crop=focalpoint&dpr=0.75&fit=crop&h=429&w=330 247w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727779597-paymentsgogreen-small-07.png?auto=format&crop=focalpoint&fit=crop&h=429&w=330 330w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727779597-paymentsgogreen-small-07.png?auto=format&crop=focalpoint&dpr=1.5&fit=crop&h=429&w=330 495w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727779597-paymentsgogreen-small-07.png?auto=format&crop=focalpoint&dpr=2&fit=crop&h=429&w=330 660w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727779597-paymentsgogreen-small-07.png?auto=format&crop=focalpoint&dpr=3&fit=crop&h=429&w=330 990w",src:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727779597-paymentsgogreen-small-07.png?auto=format&crop=focalpoint&fit=crop&h=429&w=330",width:b,height:c,alt:u,title:a},alt:u,url:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727779597-paymentsgogreen-small-07.png",title:a,width:1084,height:1427,mimeType:e},featuredImage:{responsiveImage:{srcSet:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727779629-paymentsgogreen-wide_artboard-6.png?auto=format&crop=focalpoint&dpr=0.25&fit=crop&h=429&w=330 82w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727779629-paymentsgogreen-wide_artboard-6.png?auto=format&crop=focalpoint&dpr=0.5&fit=crop&h=429&w=330 165w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727779629-paymentsgogreen-wide_artboard-6.png?auto=format&crop=focalpoint&dpr=0.75&fit=crop&h=429&w=330 247w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727779629-paymentsgogreen-wide_artboard-6.png?auto=format&crop=focalpoint&fit=crop&h=429&w=330 330w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727779629-paymentsgogreen-wide_artboard-6.png?auto=format&crop=focalpoint&dpr=1.5&fit=crop&h=429&w=330 495w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727779629-paymentsgogreen-wide_artboard-6.png?auto=format&crop=focalpoint&dpr=2&fit=crop&h=429&w=330 660w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727779629-paymentsgogreen-wide_artboard-6.png?auto=format&crop=focalpoint&dpr=3&fit=crop&h=429&w=330 990w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727779629-paymentsgogreen-wide_artboard-6.png?auto=format&crop=focalpoint&dpr=4&fit=crop&h=429&w=330 1320w",src:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727779629-paymentsgogreen-wide_artboard-6.png?auto=format&crop=focalpoint&fit=crop&h=429&w=330",width:b,height:c,alt:u,title:a},alt:u,url:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727779629-paymentsgogreen-wide_artboard-6.png",title:a,width:4000,height:2009,mimeType:e},newsType:{title:h},flexibleContent:[{text:"\u003Cul\u003E\n\u003Cli\u003E\n\u003Cp\u003E\u003Cstrong\u003E Retail automation and digital payments significantly reduce energy use and environmental impact by cutting down on cash handling, paper receipts, and traditional payment infrastructure.\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\n\u003Cstrong\u003E \u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\n\u003Cli\u003E\u003Cstrong\u003E \u003C\u002Fstrong\u003E\n\u003Cp\u003E\u003Cstrong\u003ECloud-based POS systems and payment platforms help businesses lower their carbon footprints by reducing physical hardware needs and optimizing energy efficiency.\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\n\u003Cstrong\u003E \u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\n\u003Cli\u003E\u003Cstrong\u003E \u003C\u002Fstrong\u003E\n\u003Cp\u003E\u003Cstrong\u003ESustainable payments in electric vehicle (EV) charging eliminate the need for cash and cards, supporting greener operations and reducing reliance on energy-intensive payment infrastructure. \u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\n\u003C\u002Fli\u003E\n\u003C\u002Ful\u003E\n\u003Cp\u003E\u003Cem\u003EDon't have time to read more now? \u003Ca href=\"#signup\"\u003ESign up to our newsletter\u003C\u002Fa\u003E to get the latest insights directly in your inbox. \u003C\u002Fem\u003E\u003C\u002Fp\u003E"},{text:"\u003Cp\u003EPayment technology has moved far beyond making things faster and easier - it's now got a bigger agenda in helping the world be more sustainable. By transitioning to cloud-based platforms, companies are reducing their carbon footprints while creating greener operations. Initiatives like retail automation and EV payments are certainly helping, but how, exactly? The way we pay is getting a green makeover, so let’s explore this in greater detail…\u003C\u002Fp\u003E"},{text:"\u003Cp\u003ERetail automation refers to the use of technology to streamline operations and reduce human involvement in retail settings. By automating tasks like self-checkout and digital payment processing - where transactions are handled through online systems, mobile apps, or contactless methods - businesses can cut down on the need for physical cash handling and traditional payment terminals. Cash, in particular, has a significant environmental cost - each $1 USD bill produced generates an annual environmental impact valued at \u003Ca href=\"https:\u002F\u002Fwww.getnetworld.com\u002Fhow-digital-payments-are-driving-sustainability\" target=\"_blank\" rel=\"noopener\"\u003E$0.26\u003C\u002Fa\u003E per note. Reducing reliance on physical cash through automation cuts energy use, whilst helping lower the ecological footprint tied to cash production and circulation.\u003C\u002Fp\u003E\n\u003Cp\u003EWhat’s more, digital \u003Ca href=\"https:\u002F\u002Faevi.com\u002Fplatform\u002Fpayment-processing\"\u003Epayment processing\u003C\u002Fa\u003E and \u003Ca href=\"https:\u002F\u002Faevi.com\u002Fnewsroom\u002Fpayments-landscape\u002Forchestration-payments\"\u003Epayment orchestration\u003C\u002Fa\u003E streamlines transactions further by securely transferring funds electronically, cutting down on energy-intensive activities like running card machines and maintaining cash registers, not to mention managing physical receipts, (which, incidentally, is a huge contributor to worldwide CO\u003Csub\u003E2\u003C\u002Fsub\u003E emissions, adding an estimated \u003Ca href=\"https:\u002F\u002Feyosretail.com\u002Fblog\u002Fthe-environmental-cost-of-paper-receipts\u002F\" target=\"_blank\" rel=\"noopener\"\u003E28,000 tonnes of CO\u003Csub\u003E2\u003C\u002Fsub\u003E\u003C\u002Fa\u003E to the atmosphere each year, which is equivalent to 10,000 flights across the globe).\u003C\u002Fp\u003E\n\u003Cp\u003EThe adoption of automation in sectors like e-mobility, where systems efficiently rent out electric bikes and scooters, exemplifies how technology promotes greener choices by enabling \u003Ca href=\"https:\u002F\u002Faevi.com\u002Fpropositions\u002Funattended\"\u003Eunattended payments\u003C\u002Fa\u003E and eliminating the need for person-to-person interaction and cash.\u003C\u002Fp\u003E"},{text:"\u003Cp\u003EModern POS systems in restaurants play a key role in promoting energy efficiency by reducing the need for physical resources. By offering digital receipts, they significantly cut down on paper usage, helping reduce waste. Additionally, cloud-based POS systems allow data to be processed and stored off-site in energy-efficient data centers, eliminating the need for power-hungry, on-site servers. This reduces both hardware requirements and the energy used to maintain traditional infrastructure.\u003C\u002Fp\u003E\n\u003Cp\u003EPOS systems also streamline operations and optimize resource use. Integrated inventory management tools help restaurants reduce food waste by tracking stock in real time and preventing over-ordering. Furthermore, these systems combine multiple functions into a single device, reducing the number of machines needed and lowering overall energy consumption. Automation of processes like payment handling and kitchen orders improves efficiency, minimizing the energy used during daily operations while contributing to a restaurant's overall sustainability.\u003C\u002Fp\u003E\n\u003Cp\u003EThis transition toward cloud-based systems, like those offered by \u003Ca href=\"https:\u002F\u002Faevi.com\u002Fplatform\"\u003EAevi’s platform\u003C\u002Fa\u003E, minimizes hardware use and contributes to energy efficiency, cutting back on the physical infrastructure traditionally needed to support payment systems.\u003C\u002Fp\u003E"},{text:"\u003Cp\u003EEVs are essential in reducing global emissions, but their success depends on two things: sustainable production and an efficient, eco-friendly payment infrastructure. Over the last few years, payments at EV charging stations have become so much more sophisticated, eliminating the need for cash and cards, which certainly helps reduce physical waste and energy consumption.\u003C\u002Fp\u003E\n\u003Cp\u003ETo give some context on this, the cloud-based payment orchestration that we offer here at Aevi plays a critical role in enabling smooth, cashless transactions at EV charging stations. As outlined in our \u003Ca href=\"https:\u002F\u002Faevi.com\u002Fnewsroom\u002Ffuel-retail\u002Fseizing-the-ev-opportunity\"\u003EEV whitepaper\u003C\u002Fa\u003E, these systems help streamline in-person payment processes, contributing to the future of sustainable transportation. Additionally, this cloud-based platform assists \u003Ca href=\"https:\u002F\u002Faevi.com\u002Fwho-we-serve\u002Fenergy-retailers\"\u003Eenergy retailers\u003C\u002Fa\u003E by consolidating multiple systems into cloud-based solutions, drastically reducing the need for energy-intensive on-site hardware. This reduced infrastructure helps businesses lower their environmental footprint while supporting the growth of sustainable EV infrastructure.\u003C\u002Fp\u003E"},{text:"\u003Cp\u003ELet’s face it, traditional payment methods like cash (paper) and credit\u002Fdebit cards (plastic) are a big part of the problem when it comes to environmental damage. Paper production equals deforestation, massive energy and water consumption, and pollution from start to finish - from manufacturing to transportation. Paper waste makes up \u003Ca href=\"https:\u002F\u002Fwww.globalpayments.com\u002Fen-gb\u002Finsights\u002F2023\u002F04\u002F19\u002Fdeliver-the-sustainable-payment-options-customers-seek\" target=\"_blank\" rel=\"noopener\"\u003E26% of landfill trash\u003C\u002Fa\u003E and plastic has left a permanent scar on the planet, with \u003Ca href=\"https:\u002F\u002Fwww.globalpayments.com\u002Fen-gb\u002Finsights\u002F2023\u002F04\u002F19\u002Fdeliver-the-sustainable-payment-options-customers-seek\" target=\"_blank\" rel=\"noopener\"\u003E7 billion tons\u003C\u002Fa\u003E of plastic sitting in landfills and 14 million tons finding its way into our oceans every year.\u003C\u002Fp\u003E\n\u003Cp\u003EDigital payments, on the other hand, require fewer physical resources compared to traditional cash and card methods. They help conserve natural resources by eliminating the need to print cash, coins, or cheques, saving trees, water, and metals. Since there’s no physical currency or cards to dispose of, digital payments also reduce waste.\u003C\u002Fp\u003E\n\u003Cp\u003EAdditionally, by skipping the manufacturing, printing, and transportation processes involved with traditional payments, digital methods cut down on carbon emissions. Overall, digital transactions have a much smaller environmental footprint than cash or card payments.\u003C\u002Fp\u003E\n\u003Cp\u003ECloud-based platforms like Aevi’s are crucial here. By offering a central management system for payments, companies can reduce their physical and environmental footprints. The shift to cloud also eliminates the need for frequent on-site visits, reducing travel-related emissions.\u003C\u002Fp\u003E"},{text:"\u003Cp\u003EWhile digital payments and greener tech promise a more sustainable future, the road to widespread adoption isn’t without obstacles. One of the biggest hurdles is accessibility, particularly for underbanked populations. In many parts of the world, millions of people still don’t have access to basic financial services, let alone digital payment platforms. In these regions, the push towards greener payment methods risks deepening financial exclusion, leaving those communities even more isolated from the benefits of modern technology. If we want greener payments to be truly inclusive, we need to address this head-on by expanding financial access and creating systems that work for everyone, not just the digitally savvy.\u003C\u002Fp\u003E\n\u003Cp\u003EFor small businesses, the cost of transitioning to greener tech can be prohibitive. Cloud-based systems, smartPOS platforms, and advanced payment tech all come with a price tag that many \u003Ca href=\"https:\u002F\u002Faevi.com\u002Fwho-we-serve\u002Fpayment-system-for-small-business\"\u003ESMEs\u003C\u002Fa\u003E simply can’t afford. Without the right financial support or incentives, these businesses may find themselves priced out of the sustainability movement, further entrenching the divide between those who can invest in greener solutions and those who can’t.\u003C\u002Fp\u003E\n\u003Cp\u003EOn top of that, consumer reluctance still presents a challenge. Despite the convenience and benefits of digital payments, some people are skeptical, worried about data security, concerned over privacy, or just attached to the familiarity of cash and cards. And let’s not forget, older generations and tech-averse consumers may resist the shift entirely, slowing progress.\u003C\u002Fp\u003E\n\u003Cp\u003ETo overcome these barriers, there needs to be a concerted effort to broaden accessibility and offer financial assistance where it’s needed. Education and outreach will also play a pivotal role in building consumer confidence and encouraging the adoption of more sustainable payment options.\u003C\u002Fp\u003E"},{text:"\u003Cp\u003ELooking ahead, innovations in payment technology will continue to support the global sustainability movement. The Internet of Things (IoT) will play a key role, with smart devices optimizing energy use in real time. Cloud-based systems are at the forefront of this change, offering energy-efficient solutions for data processing and device management. By consolidating hardware, businesses reduce electronic waste and lower their overall energy consumption.\u003C\u002Fp\u003E\n\u003Cp\u003EEnergy-efficient data centers will shape the future of payments, ensuring that sustainability and digital innovation go hand-in-hand.\u003C\u002Fp\u003E\n\u003Cp\u003EAre you ready to make your payment processes greener and more efficient? \u003Ca href=\"https:\u002F\u002Faevi.com\u002Fget-in-touch#sales\"\u003EReach out to the team here at Aevi\u003C\u002Fa\u003E and explore how you can integrate sustainable, future-ready solutions into your existing payment infrastructure.\u003C\u002Fp\u003E"}]},{id:"SHQJTbK1TF-K9WO7hGgvtg",title:"The rise of mobile payments: opportunities and challenges",slug:"the-rise-of-mobile-payments-opportunities-and-challenges",categories:[{id:H,slug:I}],thumbnailImage:{responsiveImage:{srcSet:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727427638-rise-of-mobile-payments-small-01.png?auto=format&crop=focalpoint&dpr=0.25&fit=crop&h=429&w=330 82w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727427638-rise-of-mobile-payments-small-01.png?auto=format&crop=focalpoint&dpr=0.5&fit=crop&h=429&w=330 165w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727427638-rise-of-mobile-payments-small-01.png?auto=format&crop=focalpoint&dpr=0.75&fit=crop&h=429&w=330 247w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727427638-rise-of-mobile-payments-small-01.png?auto=format&crop=focalpoint&fit=crop&h=429&w=330 330w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727427638-rise-of-mobile-payments-small-01.png?auto=format&crop=focalpoint&dpr=1.5&fit=crop&h=429&w=330 495w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727427638-rise-of-mobile-payments-small-01.png?auto=format&crop=focalpoint&dpr=2&fit=crop&h=429&w=330 660w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727427638-rise-of-mobile-payments-small-01.png?auto=format&crop=focalpoint&dpr=3&fit=crop&h=429&w=330 990w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727427638-rise-of-mobile-payments-small-01.png?auto=format&crop=focalpoint&dpr=4&fit=crop&h=429&w=330 1320w",src:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727427638-rise-of-mobile-payments-small-01.png?auto=format&crop=focalpoint&fit=crop&h=429&w=330",width:b,height:c,alt:v,title:a},alt:v,url:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727427638-rise-of-mobile-payments-small-01.png",title:a,width:n,height:o,mimeType:e},featuredImage:{responsiveImage:{srcSet:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727427674-rise-of-mobile-payments-wide_artboard-3.png?auto=format&crop=focalpoint&dpr=0.25&fit=crop&h=429&w=330 82w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727427674-rise-of-mobile-payments-wide_artboard-3.png?auto=format&crop=focalpoint&dpr=0.5&fit=crop&h=429&w=330 165w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727427674-rise-of-mobile-payments-wide_artboard-3.png?auto=format&crop=focalpoint&dpr=0.75&fit=crop&h=429&w=330 247w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727427674-rise-of-mobile-payments-wide_artboard-3.png?auto=format&crop=focalpoint&fit=crop&h=429&w=330 330w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727427674-rise-of-mobile-payments-wide_artboard-3.png?auto=format&crop=focalpoint&dpr=1.5&fit=crop&h=429&w=330 495w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727427674-rise-of-mobile-payments-wide_artboard-3.png?auto=format&crop=focalpoint&dpr=2&fit=crop&h=429&w=330 660w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727427674-rise-of-mobile-payments-wide_artboard-3.png?auto=format&crop=focalpoint&dpr=3&fit=crop&h=429&w=330 990w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727427674-rise-of-mobile-payments-wide_artboard-3.png?auto=format&crop=focalpoint&dpr=4&fit=crop&h=429&w=330 1320w",src:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727427674-rise-of-mobile-payments-wide_artboard-3.png?auto=format&crop=focalpoint&fit=crop&h=429&w=330",width:b,height:c,alt:v,title:a},alt:v,url:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727427674-rise-of-mobile-payments-wide_artboard-3.png",title:a,width:p,height:q,mimeType:e},newsType:{title:h},flexibleContent:[{text:"\u003Cul\u003E\n\u003Cli\u003E\n\u003Cp\u003E\u003Cstrong\u003E Mobile payment transactions are projected to skyrocket, from $1.44 trillion in 2021 to $8.26 trillion by 2027, driven by global wallets like Apple Pay, Alipay, and domestic schemes like Giropay and Payback.\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\n\u003Cstrong\u003E \u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\n\u003Cli\u003E\u003Cstrong\u003E \u003C\u002Fstrong\u003E\n\u003Cp\u003E\u003Cstrong\u003EMobile payments enable global reach, a seamless customer experience, and valuable data insights, while offering increased security through encryption and tokenization.\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\n\u003Cstrong\u003E \u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\n\u003Cli\u003E\u003Cstrong\u003E \u003C\u002Fstrong\u003E\n\u003Cp\u003E\u003Cstrong\u003EDevelopers and businesses must navigate compatibility issues, rising fraud risks, and evolving regulations, while preparing for future shifts shaped by AI, blockchain, and industry consolidation. \u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\n\u003C\u002Fli\u003E\n\u003C\u002Ful\u003E\n\u003Cp\u003E\u003Cem\u003EDon't have time to read more now? \u003Ca href=\"#signup\"\u003ESign up to our newsletter\u003C\u002Fa\u003E to get the latest insights directly in your inbox. \u003C\u002Fem\u003E\u003C\u002Fp\u003E"},{text:"\u003Cp\u003EMobile payments have evolved from a futuristic concept to an integral part of our daily transactions. Whether you're a developer planning to integrate mobile payments into your app or a product manager tasked with implementing the latest mobile POS \u003Ca href=\"https:\u002F\u002Faevi.com\u002Fpos-systems\"\u003E(Point of Sale) system\u003C\u002Fa\u003E, the rapid growth of mobile payment systems presents both exciting opportunities and significant challenges.\u003C\u002Fp\u003E\n\u003Cp\u003EIn this article, we’ll explore what mobile payment systems are, how they work, and what to consider when adopting this game-changing technology.\u003C\u002Fp\u003E"},{text:"\u003Cp\u003EAt its core, mobile payments involve using a mobile device to transfer funds. This includes global wallets like Apple Pay, Alipay, and PayPal, which enable contactless payments in-store or online. Additionally, domestic mobile payment schemes, such as Giropay and Payback in Germany or Paysera in the UK, are also gaining traction. The convenience and speed of these methods have driven widespread adoption.\u003C\u002Fp\u003E\n\u003Cp\u003EGlobal mobile payment transaction volume reached \u003Ca href=\"https:\u002F\u002Fwww.statista.com\u002Fforecasts\u002F918716\u002Fleasing-of-intellectual-property-revenue-in-spain\" target=\"_blank\" rel=\"noopener\"\u003E$1.44 trillion in 2021\u003C\u002Fa\u003E, and it's projected to hit \u003Ca href=\"https:\u002F\u002Fwww.statista.com\u002Fstatistics\u002F918716\u002Fmobile-payments-volume-worldwide\u002F\" target=\"_blank\" rel=\"noopener\"\u003E$8.26 trillion by 2027\u003C\u002Fa\u003E—a staggering growth rate that demonstrates the increasing shift towards cashless societies.\u003C\u002Fp\u003E\n\u003Cp\u003EBut mobile payments go beyond just tapping your phone at checkout. They also involve the backend systems and infrastructure that make these transactions possible.\u003C\u002Fp\u003E"},{text:"\u003Cp\u003EMobile payments rely on technologies like Near-Field Communication (NFC), QR codes, or mobile wallet apps. Behind the scenes, encryption, tokenization, and secure \u003Ca href=\"https:\u002F\u002Faevi.com\u002Fplatform\u002Fpayment-gateway\"\u003Epayment gateways\u003C\u002Fa\u003E ensure that sensitive information (such as credit card numbers) is protected during the transaction.\u003C\u002Fp\u003E\n\u003Cp\u003EMobile payment systems connect your mobile device with a merchant’s POS system. Once initiated, the payment request is communicated to the payment processor, which verifies the payment method and completes the transaction securely.\u003C\u002Fp\u003E\n\u003Cp\u003EAccording to Juniper Research, NFC-based mobile payment transactions are expected to reach \u003Ca href=\"https:\u002F\u002Fwww.juniperresearch.com\u002Fresearch\u002Ffintech-payments\u002Fcore-payments\u002Fcontactless-payments-research-report\u002F#:~:text=As%20an%20established%20market%20within%20payments,%20we%20provide%20an%20exhaustive\" target=\"_blank\" rel=\"noopener\"\u003E$4.5 trillion globally by 2023\u003C\u002Fa\u003E, further highlighting the dominance of contactless payments in the mobile landscape.\u003C\u002Fp\u003E"},{text:"\u003Cp\u003EFor developers and product managers, the rise of mobile POS (mPOS) systems offers new flexibility in how businesses accept payments, freeing them from the constraints of traditional registers. But what is a mobile POS? It’s simply a mobile device—like a smartphone or tablet—that acts as a portable register, enabling businesses to process transactions anywhere, anytime.\u003C\u002Fp\u003E\n\u003Cp\u003EIn 2022, mPOS payments exceeded \u003Ca href=\"https:\u002F\u002Fwww.statista.com\u002Fstatistics\u002F244983\u002Fprojected-inflation-rate-in-the-united-states\u002F\" target=\"_blank\" rel=\"noopener\"\u003E$3 trillion globally\u003C\u002Fa\u003E and are expected to reach $5.9 trillion by 2027, driven by the growing popularity of mobile devices and the need for businesses to adapt to flexible payment solutions.\u003C\u002Fp\u003E\n\u003Cp\u003EImagine running a pop-up shop or market stall without the need for bulky payment terminals. With mPOS, businesses can accept card payments, \u003Ca href=\"https:\u002F\u002Faevi.com\u002Fnewsroom\u002Fpayments-landscape\u002Fdigital-wallet-changing-digital-payment-landscape\"\u003Edigital wallets\u003C\u002Fa\u003E, and even send electronic receipts—all from a handheld device. This flexibility is a game changer for small and large businesses alike.\u003C\u002Fp\u003E"},{text:"\u003Cp\u003EThe rise of mobile payments presents several key opportunities for businesses and developers:\u003C\u002Fp\u003E\n\u003Cul\u003E\n\u003Cli\u003EExpanded Market Reach: Mobile payments enable businesses to cater to a global audience. In regions where credit cards may not be common, mobile wallets like Alipay and M-Pesa are helping businesses reach new customers. By 2025, digital wallet usage is expected to account for \u003Ca href=\"https:\u002F\u002Fworldpay.globalpaymentsreport.com\u002Fen\" target=\"_blank\" rel=\"noopener\"\u003E52% of global e-commerce transactions\u003C\u002Fa\u003E, up from 41.8% in 2021.\u003C\u002Fli\u003E\n\u003Cli\u003ESeamless Customer Experience: Mobile payments provide customers with a frictionless buying experience, whether they’re paying online or in person. \u003Ca href=\"https:\u002F\u002Fwww.mckinsey.com\u002Fcapabilities\u002Fgrowth-marketing-and-sales\u002Four-insights\u002Fwhy-customer-analytics-matter\" target=\"_blank\" rel=\"noopener\"\u003E85% of consumers\u003C\u002Fa\u003E say they prefer using digital payment methods due to convenience. Moreover, mobile payments integrate seamlessly with loyalty programs and apps, which increases customer satisfaction.\u003C\u002Fli\u003E\n\u003Cli\u003EData Insights: Businesses using mobile payment systems can gather rich data on customer behaviour. This data, in turn, helps tailor marketing strategies and offer personalized promotions. According to McKinsey, companies using customer analytics are \u003Ca href=\"https:\u002F\u002Fwww.mckinsey.com\u002Fcapabilities\u002Fgrowth-marketing-and-sales\u002Four-insights\u002Fwhy-customer-analytics-matter\" target=\"_blank\" rel=\"noopener\"\u003E23 times more likely\u003C\u002Fa\u003E to outperform competitors in customer acquisition.\u003C\u002Fli\u003E\n\u003Cli\u003EIncreased Security: Mobile payments are often more secure than traditional payment methods, thanks to encryption, tokenization, and \u003Ca href=\"https:\u002F\u002Faevi.com\u002Fnewsroom\u002Fpoint-of-sale\u002Fbiometrics\"\u003Ebiometric verification\u003C\u002Fa\u003E.\u003C\u002Fli\u003E\n\u003C\u002Ful\u003E"},{text:"\u003Cp\u003EDespite the opportunities, mobile payments come with their own set of challenges:\u003C\u002Fp\u003E\n\u003Cul\u003E\n\u003Cli\u003ECompatibility issues: Developers must ensure that mobile payment systems work across various devices, operating systems, and networks. Not all users are on the same platform, and integrating payment systems that are universally compatible is no small feat.\u003C\u002Fli\u003E\n\u003Cli\u003EFraud risks: While mobile payments are generally secure, they are not immune to attacks. In fact, digital payment fraud increased by \u003Ca href=\"https:\u002F\u002Fwww.paymentsjournal.com\u002Fp2p-payment-fraud-is-declining-overall-but-some-types-are-on-the-rise\u002F#:~:text=The%20largest%20increase%20in%20P2P%20fraud%20came%20from%20%E2%80%9Clost%20money%E2%80%9D,\" target=\"_blank\" rel=\"noopener\"\u003E70% from 2020 to 2021\u003C\u002Fa\u003E. Product managers must ensure that their mobile payment systems comply with industry standards like \u003Ca href=\"https:\u002F\u002Faevi.com\u002Fpci-dss\"\u003EPCI DSS\u003C\u002Fa\u003E and incorporate the latest security measures.\u003C\u002Fli\u003E\n\u003Cli\u003ERegulations & privacy concerns: Navigating complex regulations across different markets can be challenging, especially when mobile payments are involved. Developers need to ensure that their payment systems adhere to changing regulations, such as GDPR in the EU and CCPA in the U.S.\u003C\u002Fli\u003E\n\u003C\u002Ful\u003E"},{text:"\u003Cp\u003EThe future of mobile payments looks promising, with continued innovation on the horizon. \u003Ca href=\"https:\u002F\u002Faevi.com\u002Fnewsroom\u002Fpayments-landscape\u002Fhow-ai-in-payment-orchestration-can-enhance-user-experience\"\u003EArtificial Intelligence (AI)\u003C\u002Fa\u003E and Blockchain are poised to revolutionize the space further. AI can enhance fraud detection, while blockchain offers the potential for faster and more secure cross-border payments. By 2025, AI-driven fraud detection in mobile payments is expected to \u003Ca href=\"https:\u002F\u002Fwww.juniperresearch.com\u002Fresearch\u002Ffintech-payments\u002Ffraud-identity\u002Fai-financial-fraud-detection-trends-report\u002F#:~:text=The%20report%20assesses%20key%20trends%20driving%20the%20need%20for%20AI\" target=\"_blank\" rel=\"noopener\"\u003Ereduce fraudulent activities by 25%\u003C\u002Fa\u003E, saving businesses billions.\u003C\u002Fp\u003E\n\u003Cp\u003EWearables like smartwatches are also gaining traction as a new medium for mobile payments. By 2024, it’s estimated that \u003Ca href=\"https:\u002F\u002Fwww.emarketer.com\u002Fchart\u002F220093\u002Fwearable-device-shipments-worldwide-by-type-2018-2022-millions-of-total-cagr\" target=\"_blank\" rel=\"noopener\"\u003E1.3 billion people\u003C\u002Fa\u003E will be using \u003Ca href=\"https:\u002F\u002Faevi.com\u002Fnewsroom\u002Fpayments-landscape\u002Fwearable-payment-technology-2022\"\u003Ewearable devices for payments\u003C\u002Fa\u003E.\u003C\u002Fp\u003E\n\u003Cp\u003EFor developers and product managers, the message is clear: while mobile is the future, there are still uncertainties in the market. Mergers & acquisitions, cross-border expansion, and potential collaboration could shape different outcomes. Therefore, banks, merchants, investors, and tech leaders must monitor these developments closely. As an \u003Ca href=\"https:\u002F\u002Faevi.com\u002Fpartner-with-us\"\u003EAevi partner\u003C\u002Fa\u003E, you're one step ahead of whatever comes next in paytech.\u003C\u002Fp\u003E\n\u003Cp\u003EAs mobile payments continue to transform the way businesses and consumers interact, it’s crucial to have a flexible, efficient system in place to handle the complexity of these transactions — especially in-person.\u003C\u002Fp\u003E\n\u003Cp\u003EAt Aevi, our in-person payment orchestration platform ensures seamless integration across various payment methods, including mobile and contactless, all while optimizing transaction flows for businesses of any size. By streamlining the payment experience, we help you stay ahead in this fast-evolving landscape.\u003C\u002Fp\u003E\n\u003Cp\u003EDiscover how Aevi can elevate your in-person payment solutions — \u003Ca href=\"https:\u002F\u002Faevi.com\u002Fget-in-touch#sales\"\u003Eget in touch today\u003C\u002Fa\u003E to learn more!\u003C\u002Fp\u003E"}]},{id:"B_xBtiHXS0GeE79vpSm6dQ",title:"The Future of Biometric Payments Across the US: An Interactive Analysis",slug:"the-future-of-biometric-payments",categories:[{id:i,slug:j}],thumbnailImage:{responsiveImage:{srcSet:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727858308-biometrics_thumb.png?auto=format&crop=focalpoint&dpr=0.25&fit=crop&h=429&w=330 82w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727858308-biometrics_thumb.png?auto=format&crop=focalpoint&dpr=0.5&fit=crop&h=429&w=330 165w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727858308-biometrics_thumb.png?auto=format&crop=focalpoint&dpr=0.75&fit=crop&h=429&w=330 247w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727858308-biometrics_thumb.png?auto=format&crop=focalpoint&fit=crop&h=429&w=330 330w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727858308-biometrics_thumb.png?auto=format&crop=focalpoint&dpr=1.5&fit=crop&h=429&w=330 495w",src:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727858308-biometrics_thumb.png?auto=format&crop=focalpoint&fit=crop&h=429&w=330",width:b,height:c,alt:N,title:a},alt:N,url:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727858308-biometrics_thumb.png",title:a,width:497,height:647,mimeType:e},featuredImage:a,newsType:{title:h},flexibleContent:[{text:"\u003Cp\u003E\u003Cem\u003EIn July 2024, Aevi conducted a representative survey of 2,000 adults across the United States. The aim was to gauge the country’s familiarity with, concerns about, and expectations of biometric payments. Results uncovered not only the potential for widespread adoption, but also highlighted the key obstacles that are currently standing in the way of wider biometric payment take up, such as security risks, privacy concerns and the overall skepticism.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cem\u003EThrough this interactive analysis, we will explore the readiness of Americans’ to embrace biometric payment methods in in-person transactions, look at some of the concerns people have about the technology, and consider the direction of travel for the technology.\u003C\u002Fem\u003E\u003C\u002Fp\u003E"},{text:"\u003Cp\u003E\u003Ca href=\"https:\u002F\u002Faevi.com\u002Fnewsroom\u002Fpoint-of-sale\u002Fbiometrics\"\u003EBiometric payments\u003C\u002Fa\u003E - transactions made using biometric data like, fingerprints, eye-scans, and facial recognition- are seen as the future of secure and user-friendly payments in the industry.This is because biometric data is hard to replicate, making it more secure, and it simplifies the user experience by removing complex authentication methods like passwords or signatures. As this technology gains traction across the globe, with the US leading the charge, it’s important to examine the public’s perception and how this intersects with key concerns like trust, security, privacy, and technological literacy.\u003C\u002Fp\u003E\n\u003Cp\u003EThrough this extensive survey, which polled 2,000 adults across the US, we aim to shine a light on these pivotal factors, and reveal critical regional differences in awareness and familiarity with this technology, trust, and adoption. By exploring these nuances, we are able to gain a deeper understanding of how biometric payments are perceived today and what must be addressed for a widespread, and more successful future adoption.\u003C\u002Fp\u003E"},{text:"\u003Cp\u003EWhen looking at the national landscape, the results from all 2000 respondents reveal critical insights into the broader acceptance and concerns surrounding biometric payments. Notably, 46% of all Americans are still largely unfamiliar with biometric payment methods, highlighting a near 50\u002F50 knowledge gap across the country.\u003C\u002Fp\u003E"},{},{text:"\u003Cp\u003EDespite this, 41% of respondents indicate “fingerprints” as their preferred biometric payment verification method, followed by 25% opting for facial recognition. However, a staggering 60% of respondents cited security concerns as the main reason for hesitation, closely followed by privacy concerns at 56%. These concerns significantly outweighed other factors like: technical failures (34%), lack of familiarity or convenience (33% and 15% respectively), and speed (10%).\u003C\u002Fp\u003E"},{},{text:"\u003Cp\u003EIt’s important to note that our survey, conducted between July 9th and July 26th 2024, coincided with \u003Ca href=\"https:\u002F\u002Faevi.com\u002Fnewsroom\u002Fpayments-landscape\u002Fpayment-industry-crowdstrike-incidence\"\u003ECrowdStrike’s global outage\u003C\u002Fa\u003E. This timing makes this data set even more compelling as it captures the respondents’ attitudes toward technology at a heightened period of awareness regarding cybersecurity and payments.\u003C\u002Fp\u003E\n\u003Cp\u003EAlong similar lines, trust in companies is also divided, with 45% of Americans expressing trust in how their biometric data is handled, while 26% remain distrustful.\u003C\u002Fp\u003E"},{text:"\u003Cp\u003EAs our interactive map illustrates, the below insights showcase the overall familiarity with biometric payment methods by macro-region:\u003C\u002Fp\u003E\n\u003Cul\u003E\u003C\u002Ful\u003E"},{},{text:"\u003Cul\u003E\n\u003Cli\u003EThe South leads in biometric awareness, with 57.12% familiar with these payment methods.\u003C\u002Fli\u003E\n\u003Cli\u003EThe Midwest, by contrast, had the lowest among the regions with only 49.19% of respondents being familiar with it.\u003C\u002Fli\u003E\n\u003Cli\u003EBoth West and the North-East regions hover in the middle, with 52.83% and 53.85% familiarity, respectively.\u003C\u002Fli\u003E\n\u003C\u002Ful\u003E\n\u003Cp\u003EThe survey showcases a nation divided, with nearly half of Americans across all regions remaining unfamiliar with biometric technologies. While awareness may be increasing, these results highlight the need for further education and exploration into the factors driving resistance, particularly in the Midwest. Strategic efforts will be crucial in fostering greater awareness and familiarity moving forward.\u003C\u002Fp\u003E"},{text:"\u003Cp\u003ERespondents were asked to indicate the frequency in which they use biometric payments in their in-person transactions, with daily or at least twice a week being classed as frequent or regular and only once a year or less being categorized as infrequent, sporadic.\u003C\u002Fp\u003E"},{text:"\u003Cul\u003E\n\u003Cli\u003EAlthough 52.83% of respondents in the West are familiar with biometric payments, only 20.40% use them on a regular basis, while 47% never use them.\u003C\u002Fli\u003E\n\u003Cli\u003ERegular usage was similar in the South, where 19.86% use biometrics at least weekly.\u003C\u002Fli\u003E\n\u003Cli\u003EIn the North-East a significantly lower percentage of respondents use biometric payments frequently: 15.18%.\u003C\u002Fli\u003E\n\u003Cli\u003EMidwest once again showcased the lowest usage, 12.16% of respondents in the Midwest use biometrics consistently.\u003C\u002Fli\u003E\n\u003C\u002Ful\u003E"},{},{text:"\u003Cp\u003EThe results show a clear disparity between familiarity with biometric payments and actual regular usage, which remains sporadic across all regions. So, why is there such a gap between awareness and usage? Potential factors behind such a chasm warrant further investigation and, as we’ll analyze in later sections, may include concerns about security, privacy and even a lack of trust in at least some institutions.\u003C\u002Fp\u003E"},{text:"\u003Cp\u003EWith data handling, privacy, and trust being central discourse when it comes to technology and public perception, as well as resistance in adoption, we looked at both the levels of trust and which institutions were the least and most trusted.\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EBelow we can see which institutions were the \u003Cstrong\u003Eleast\u003C\u002Fstrong\u003E trusted:\u003C\u002Fspan\u003E\u003C\u002Fp\u003E"},{},{text:"\u003Cul\u003E\n\u003Cli\u003EWhilst still not in the majority, the West reports the highest trust in companies managing biometric data, with 47.39% expressing confidence.\u003C\u002Fli\u003E\n\u003Cli\u003ETrust in the Midwest is lower, with 30.81% expressing distrust and only 39.19% trusting companies with their data.\u003C\u002Fli\u003E\n\u003Cli\u003EBoth South and North-East regions show moderate levels of trust, with 46.33% in the South and 45.55% in the North-East.\u003C\u002Fli\u003E\n\u003C\u002Ful\u003E\n\u003Cp\u003ETrust can be a clear barrier to wider adoption, especially in the Midwest, where skepticism about data privacy remains high.\u003C\u002Fp\u003E\n\u003Cp\u003EFurthermore, when examining which institutions were considered to be the least trustworthy with biometric data, the results clearly indicated that respondents across the country were predominantly distrustful of \u003Ca href=\"https:\u002F\u002Faevi.com\u002Fpropositions\u002Funattended\"\u003Eunattended\u003C\u002Fa\u003E retail and small chains\u002F independent stores with 45% and 41% respectively. These were followed by \u003Ca href=\"https:\u002F\u002Faevi.com\u002Fplatform\u002Fpayment-processing\"\u003Epayment processing\u003C\u002Fa\u003E companies and large corporations (33% and 31%).\u003C\u002Fp\u003E"},{text:"\u003Cp\u003ESecurity and privacy are the biggest concerns across all regions, as indicated by 60% and 56% of all respondents respectively.\u003C\u002Fp\u003E"},{},{text:"\u003Cp\u003EHowever, in the Midwest 61.35% of respondents cited security as the top reason for their hesitation, while 61.08% expressed privacy concerns, further highlighting how vigilance remains the highest among all regions.\u003C\u002Fp\u003E\n\u003Cp\u003ESimilarly, in the South, security and privacy dominate, with 56.98% and 54.39% respectively.\u003C\u002Fp\u003E\n\u003Cp\u003EOnce more, results overlap in the West and the North-East, with over 55% in both regions citing privacy and security as major issues.\u003C\u002Fp\u003E"},{text:"\u003Cp\u003EAcross the US, fingerprints rule as the most preferred biometric payment method.\u003C\u002Fp\u003E\n\u003Cul\u003E\u003C\u002Ful\u003E"},{},{text:"\u003Cul\u003E\n\u003Cli\u003ESouth and West: Over 43% of respondents in both regions favor fingerprints.\u003C\u002Fli\u003E\n\u003Cli\u003EMidwest: 37.84% prefer fingerprints, with 23.51% choosing facial recognition.\u003C\u002Fli\u003E\n\u003Cli\u003ENortheast: 40.28% favor fingerprints, followed by 27.53% who prefer facial recognition.\u003C\u002Fli\u003E\n\u003C\u002Ful\u003E\n\u003Cp\u003EAlthough fingerprints remain the dominant biometric method, facial recognition is notably gaining traction, especially in the North-East.\u003C\u002Fp\u003E\n\u003Cp\u003EWhen asked what benefits biometric payments provide, 35% reported ‘less interaction with in-store staff’ as a top benefit. This aspect got the most upvotes, followed by ‘better management of finances’ which reached 22% of upvotes, while ‘enhanced security’ landed third with 17%.\u003C\u002Fp\u003E"},{},{text:"\u003Cp\u003EThe 2024 Biometric Payment Survey reveals a complex landscape for biometric payments in the U.S., with Southern states leading the charge both in familiarity and usage, while the West demonstrates the highest trust in companies and overall optimism towards the technology.\u003C\u002Fp\u003E\n\u003Cp\u003EOverall, with less than half of the US population familiar with biometric payments, there’s a significant opportunity to grow adoption as more people learn about the technology. As payment providers prepare for this future, solutions like payment orchestration can play a key role in facilitating this shift.\u003C\u002Fp\u003E"},{},{text:"\u003Cp\u003EThe survey also clearly indicates that the Midwest lags in overall awareness, holding significant concerns over security and privacy. Security experts must stay ahead of the curve by developing industry standards that ensure the security and privacy of biometric data.\u003C\u002Fp\u003E\n\u003Cp\u003EAlthough security and privacy remain top concerns across all regions, respondents who do adopt biometric payments report an overall positive experience, with a mere 4% of Americans indicating otherwise and fingerprints were clearly identified as the preferred method.\u003C\u002Fp\u003E\n\u003Cp\u003EAnother standout aspect surrounding benefits of biometric payment was the reduced interaction with in-store staff playing a crucial part in adopting this method. This got 35% (the majority) of upvotes thus making it the main ‘selling point’ for adopting biometric payments. Payment technology providers and developers should pay attention as this insight should help guide product development and prioritize features that align with user preferences.\u003C\u002Fp\u003E\n\u003Cp\u003EThe results should also serve as a wake-up call for Banks and payment processors as they adopt or expand biometric methods to remain competitive. Now is the time for them to engage with partners who can help them implement these systems. \u003Ca href=\"https:\u002F\u002Faevi.com\"\u003EPartners offering payment orchestration platforms\u003C\u002Fa\u003E can be key to not only preparing for the future of payments, but also integrating new partners and technologies for their merchants with ease. In-person payment orchestration, in particular, provides stakeholders across the payment value chain with digital flexibility, freedom of choice, and access to valuable data.\u003C\u002Fp\u003E"}]},{id:"ZGFRFAuTTGWXUmrP7TRqyA",title:"Cybersecurity in payments",slug:"cybersecurity-in-payments",categories:[{id:i,slug:j}],thumbnailImage:{responsiveImage:{srcSet:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727692012-cybersecurity-small.jpg?auto=format&crop=focalpoint&dpr=0.25&fit=crop&h=429&w=330 82w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727692012-cybersecurity-small.jpg?auto=format&crop=focalpoint&dpr=0.5&fit=crop&h=429&w=330 165w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727692012-cybersecurity-small.jpg?auto=format&crop=focalpoint&dpr=0.75&fit=crop&h=429&w=330 247w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727692012-cybersecurity-small.jpg?auto=format&crop=focalpoint&fit=crop&h=429&w=330 330w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727692012-cybersecurity-small.jpg?auto=format&crop=focalpoint&dpr=1.5&fit=crop&h=429&w=330 495w",src:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727692012-cybersecurity-small.jpg?auto=format&crop=focalpoint&fit=crop&h=429&w=330",width:b,height:c,alt:w,title:a},alt:w,url:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727692012-cybersecurity-small.jpg",title:a,width:580,height:765,mimeType:E},featuredImage:{responsiveImage:{srcSet:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727691992-cybersecurity-wide.jpg?auto=format&crop=focalpoint&dpr=0.25&fit=crop&h=429&w=330 82w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727691992-cybersecurity-wide.jpg?auto=format&crop=focalpoint&dpr=0.5&fit=crop&h=429&w=330 165w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727691992-cybersecurity-wide.jpg?auto=format&crop=focalpoint&dpr=0.75&fit=crop&h=429&w=330 247w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727691992-cybersecurity-wide.jpg?auto=format&crop=focalpoint&fit=crop&h=429&w=330 330w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727691992-cybersecurity-wide.jpg?auto=format&crop=focalpoint&dpr=1.5&fit=crop&h=429&w=330 495w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727691992-cybersecurity-wide.jpg?auto=format&crop=focalpoint&dpr=2&fit=crop&h=429&w=330 660w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727691992-cybersecurity-wide.jpg?auto=format&crop=focalpoint&dpr=3&fit=crop&h=429&w=330 990w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727691992-cybersecurity-wide.jpg?auto=format&crop=focalpoint&dpr=4&fit=crop&h=429&w=330 1320w",src:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727691992-cybersecurity-wide.jpg?auto=format&crop=focalpoint&fit=crop&h=429&w=330",width:b,height:c,alt:w,title:a},alt:w,url:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727691992-cybersecurity-wide.jpg",title:a,width:s,height:960,mimeType:E},newsType:{title:h},flexibleContent:[{text:"\u003Cul\u003E\n\u003Cli\u003E\n\u003Cp\u003E\u003Cstrong\u003E Cybersecurity in payments is critical to protect financial and personal data, with methods like tokenization, encryption, and Point-to-Point Encryption (P2PE) offering robust protection against threats.\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\n\u003Cstrong\u003E \u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\n\u003Cli\u003E\u003Cstrong\u003E \u003C\u002Fstrong\u003E\n\u003Cp\u003E\u003Cstrong\u003EPayment orchestration presents challenges in maintaining security across multiple devices and methods, but adopting open standards and secure integration layers can minimize risks. \u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\n\u003Cstrong\u003E \u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\n\u003Cli\u003E\u003Cstrong\u003E \u003C\u002Fstrong\u003E\n\u003Cp\u003E\u003Cstrong\u003EStaying ahead of evolving cyber threats requires regular updates to payment security systems, ensuring they remain resilient against future attacks and protect the entire payment ecosystem.\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\n\u003C\u002Fli\u003E\n\u003C\u002Ful\u003E\n\u003Cp\u003E\u003Cem\u003EDon't have time to read more now? \u003Ca href=\"#signup\"\u003ESign up to our newsletter\u003C\u002Fa\u003E to get the latest insights directly in your inbox. \u003C\u002Fem\u003E\u003C\u002Fp\u003E"},{text:"\u003Cp\u003EThe payments industry is driven by technology and innovation, plus a critical element that businesses often overlook until it’s too late: cybersecurity. The stakes are high, and in an industry where hacking evolves as quickly as the technology designed to stop it, the payment sector stands as a lucrative target. As October is \u003Ca href=\"https:\u002F\u002Fwww.cisa.gov\u002Fcybersecurity-awareness-month\" target=\"_blank\" rel=\"noopener\"\u003Ecyber security awareness month\u003C\u002Fa\u003E, the question every business should be asking is: \"How secure are our payment systems?\"\u003C\u002Fp\u003E"},{text:"\u003Cp\u003EBefore diving into the depths of how cybersecurity applies to payments, it’s essential to clarify what cybersecurity means. In simple terms, cybersecurity refers to the practices and technologies designed to protect systems, their networks and the data within them from unauthorized access or attacks. In the context of payments, it’s about ensuring that both the financial information and personal data exchanged between consumers and businesses are safe from malicious threats.\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Ca href=\"https:\u002F\u002Faevi.com\u002Fplatform\u002Fpayment-orchestration#ippo-faq\"\u003EIn-person payment orchestration\u003C\u002Fa\u003E tackles exactly this by offering a secure environment where various payment methods can coexist without compromising safety. The key to this orchestration lies in using a \u003Ca href=\"https:\u002F\u002Faevi.com\u002Fplatform\u002Fcloud-based-payments\"\u003Ecloud-based integration layer\u003C\u002Fa\u003E, which separates device management from payment processing. This separation simplifies operations and bolsters security by ensuring that each part of the system operates independently, limiting the risk of cross-contamination in the event of a breach.\u003C\u002Fp\u003E"},{text:"\u003Cp\u003EWhen it comes to secure payment methods, businesses and consumers alike must ask, \"What is the most secure method of payment?\" The answer depends on several factors, but methods like tokenization, encryption, and P2PE stand out as some of the most reliable. Tokenization replaces sensitive card data with unique identification symbols, ensuring that even if data is intercepted, it’s virtually useless to cybercriminals. Meanwhile, P2PE protects data throughout its journey, from the moment it’s captured to when it reaches the payment processor.\u003C\u002Fp\u003E\n\u003Cp\u003EHowever, security isn’t just about the technology used, it’s also about ensuring compliance with relevant regulations. Payment systems must adhere to standards such as PCI DSS, GDPR, and PSD2. Compliance with these regulations ensures the safety of customer data, as well as minimizing legal risks for businesses.\u003C\u002Fp\u003E\n\u003Cp\u003EHere’s a brief run-through of what these security methods do and how they fit into the average payment system:\u003C\u002Fp\u003E\n\u003Cul\u003E\n\u003Cli\u003E\u003Cstrong\u003ETokenization\u003C\u002Fstrong\u003E: Tokenization is a process where sensitive payment data (like credit card numbers) is replaced with a unique identifier, or \"token.\" This token has no exploitable value if intercepted, making it an effective way to protect sensitive information. In a typical payment system, tokenization is used after the payment data is captured. It ensures that even if a breach occurs at any point later (e.g., during storage or processing), the intercepted tokens can't be used to initiate fraudulent transactions.\u003C\u002Fli\u003E\n\u003Cli\u003E\u003Cstrong\u003EEncryption\u003C\u002Fstrong\u003E: Encryption converts payment information into unreadable code, which can only be decrypted with the right decryption key. In payment systems, encryption is used at various points in the transaction process—especially during data transmission (such as when the customer submits payment info). This ensures that even if someone intercepts the data in transit, they can’t understand or use it without the decryption key.\u003C\u002Fli\u003E\n\u003Cli\u003E\u003Cstrong\u003EPoint-to-Point Encryption (P2PE)\u003C\u002Fstrong\u003E: P2PE secures data from the moment the payment is initiated until it reaches the payment processor. With P2PE, the data is encrypted directly at the point of sale (e.g., in a card reader) and remains encrypted throughout its journey. This method reduces the risk of data theft in the middle stages of a payment process, such as while the transaction data is transmitted to payment gateways.\u003C\u002Fli\u003E\n\u003Cli\u003E\u003Cstrong\u003ECompliance and regulatory considerations\u003C\u002Fstrong\u003E: In addition to using advanced security technologies, businesses must also ensure their payment systems comply with regulatory standards. PCI DSS, for example, sets requirements for securing cardholder data and applies to all entities involved in processing payments. GDPR mandates strict controls on personal data protection within the EU, while PSD2 introduces enhanced security measures, such as Strong Customer Authentication (SCA), for online transactions. Non-compliance with these regulations can lead to significant penalties and damage to a company’s reputation.\u003C\u002Fli\u003E\n\u003Cli\u003E\u003Cstrong\u003ESecure payment gateways and orchestration\u003C\u002Fstrong\u003E: Orchestrating payments through secure, PCI-compliant gateways ensures that all transactions are handled with the highest level of security protocols. These gateways act as a protective intermediary between the customer, merchant, and payment processor, ensuring sensitive data is managed and transmitted securely. By adhering to these protocols, businesses can not only meet regulatory requirements but also safeguard against evolving threats.\u003C\u002Fli\u003E\n\u003C\u002Ful\u003E\n\u003Cp\u003EBut even with all these security methods in place, conditions are ever-changing. Hacking methods are advancing. Systems that worked five years ago may no longer be adequate. Businesses need to stay ahead by implementing secure payment methods and by regularly reviewing and updating them. The most secure payment method today might be insufficient tomorrow if complacency takes hold.\u003C\u002Fp\u003E"},{text:"\u003Cp\u003E\u003Ca href=\"https:\u002F\u002Faevi.com\u002Fnewsroom\u002Fpayments-landscape\u002Fwhat-is-in-person-payment-orchestration\"\u003EPayment orchestration\u003C\u002Fa\u003E offers businesses the flexibility to choose both terminal and backend providers while supporting multiple payment methods. However, this versatility also introduces challenges. One major issue for stakeholders is navigating the complex landscape of managing secure payments across various device types, each with its own vulnerabilities. Using different terminals can unintentionally increase risk exposure.\u003C\u002Fp\u003E\n\u003Cp\u003EThese challenges can be addressed by adopting open standards like \u003Ca href=\"https:\u002F\u002Faevi.com\u002Four-story#certifications\"\u003EISO 20022\u003C\u002Fa\u003E, along with \u003Ca href=\"https:\u002F\u002Faevi.com\u002Fplatform\u002Fpayment-technology-build-on-android\"\u003EAndroid-based solutions\u003C\u002Fa\u003E and managed micro-services. ISO 20022 facilitates secure and consistent data exchange between payment systems, helping to minimize communication risks. Android-based payment terminals, with features such as encryption, secure boot, and regular updates, provide a solid security foundation for managing multiple payment methods within orchestration environments.\u003C\u002Fp\u003E\n\u003Cp\u003EA good example of this in action is the infamous \u003Ca href=\"https:\u002F\u002Feu.usatoday.com\u002Fstory\u002Fmoney\u002F2017\u002F05\u002F23\u002Ftarget-pay-185m-2013-data-breach-affected-consumers\u002F102063932\u002F\" target=\"_blank\" rel=\"noopener\"\u003ETarget data breach\u003C\u002Fa\u003E that exposed over 40 million payment card details, leading to billions of dollars in losses and damaged reputations. The breach started with a vulnerability in a third-party vendor’s system, proof that no part of the payment ecosystem is immune if any link in the chain is weak.\u003C\u002Fp\u003E\n\u003Cp\u003ETo avoid such disasters, the payment industry has embraced enhanced security measures that ensure endpoints are more resilient to attacks. Systems must focus on making it difficult for attackers to jump from one compromised area to another. For instance, a system that uses endpoint segregation, such as the cloud-based integration layer we have here at Aevi, creates a \u003Ca href=\"https:\u002F\u002Faevi.com\u002Fnewsroom\u002Fpayments-landscape\u002Fenhancing-payment-security\"\u003Esafer environment\u003C\u002Fa\u003E where the most secure payment methods can operate alongside the more open world of data processing.\u003C\u002Fp\u003E"},{text:"\u003Cp\u003ESeveral businesses have successfully integrated advanced cybersecurity protocols into their payment systems. For instance, PayPal uses advanced encryption, tokenization, and multi-factor authentication to protect user data and transactions. This emphasis on continuous security updates is why companies like PayPal have been able to maintain trust with both small businesses and major enterprises alike.\u003C\u002Fp\u003E\n\u003Cp\u003ECloser to the hardware side of things, SoftPOS (software-based point-of-sale) solutions have emerged as game-changers in the secure payment space. By meeting \u003Ca href=\"https:\u002F\u002Faevi.com\u002Fnewsroom\u002Fpoint-of-sale\u002Fwhat-are-the-payment-security-standards-of-softpo\"\u003Estringent security standards\u003C\u002Fa\u003E, SoftPOS ensures that payments made via mobile devices maintain the highest level of security, rivaling traditional hardware terminals.\u003C\u002Fp\u003E"},{text:"\u003Cp\u003EIt’s not just about preventing breaches but also about creating an environment that anticipates and adapts to new threats. The payment ecosystem has to evolve, not just with technology but with the ways in which it integrates cybersecurity into every level of operation. Businesses should be asking themselves: Are we future-proofing our payment systems? What cybersecurity measures are in place for tomorrow’s threats, not just today’s?\u003C\u002Fp\u003E\n\u003Cp\u003EEmerging technologies like AI for fraud detection and blockchain for secure transactions are already being integrated into the payment cybersecurity infrastructure. These innovations offer powerful tools to detect and prevent evolving cyber threats, as well as being able to respond to them with greater accuracy and speed.\u003C\u002Fp\u003E\n\u003Cp\u003EA safe ecosystem doesn’t happen by chance. It requires intentional design and regular reviews, and of course, updates. And in the payment world, where trust is a currency in itself, ensuring robust cybersecurity measures is non-negotiable. Businesses must prioritize securing their payment systems, protecting not just themselves but their customers and stakeholders too, as without it, the entire ecosystem crumbles.\u003C\u002Fp\u003E\n\u003Cp\u003EUse this awareness month to enhance the security of your payment processes, ensuring that your data and transactions are protected at every stage. \u003Ca href=\"https:\u002F\u002Faevi.com\u002Fget-in-touch#sales\"\u003EReach out to us today\u003C\u002Fa\u003E!\u003C\u002Fp\u003E"}]},{id:"fVAS4W0iS_WufXM6cMlchQ",title:"Buy Now, Pay Later (BNPL) unwrapped: The impact on the industry",slug:"buy-now-pay-later-bnpl-unwrapped",categories:[{id:i,slug:j}],thumbnailImage:{responsiveImage:{srcSet:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727246741-bnpl-small.png?auto=format&crop=focalpoint&dpr=0.25&fit=crop&h=429&w=330 82w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727246741-bnpl-small.png?auto=format&crop=focalpoint&dpr=0.5&fit=crop&h=429&w=330 165w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727246741-bnpl-small.png?auto=format&crop=focalpoint&dpr=0.75&fit=crop&h=429&w=330 247w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727246741-bnpl-small.png?auto=format&crop=focalpoint&fit=crop&h=429&w=330 330w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727246741-bnpl-small.png?auto=format&crop=focalpoint&dpr=1.5&fit=crop&h=429&w=330 495w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727246741-bnpl-small.png?auto=format&crop=focalpoint&dpr=2&fit=crop&h=429&w=330 660w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727246741-bnpl-small.png?auto=format&crop=focalpoint&dpr=3&fit=crop&h=429&w=330 990w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727246741-bnpl-small.png?auto=format&crop=focalpoint&dpr=4&fit=crop&h=429&w=330 1320w",src:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727246741-bnpl-small.png?auto=format&crop=focalpoint&fit=crop&h=429&w=330",width:b,height:c,alt:x,title:a},alt:x,url:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727246741-bnpl-small.png",title:a,width:n,height:o,mimeType:e},featuredImage:{responsiveImage:{srcSet:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727246696-bnpl-wide.png?auto=format&crop=focalpoint&dpr=0.25&fit=crop&h=429&w=330 82w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727246696-bnpl-wide.png?auto=format&crop=focalpoint&dpr=0.5&fit=crop&h=429&w=330 165w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727246696-bnpl-wide.png?auto=format&crop=focalpoint&dpr=0.75&fit=crop&h=429&w=330 247w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727246696-bnpl-wide.png?auto=format&crop=focalpoint&fit=crop&h=429&w=330 330w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727246696-bnpl-wide.png?auto=format&crop=focalpoint&dpr=1.5&fit=crop&h=429&w=330 495w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727246696-bnpl-wide.png?auto=format&crop=focalpoint&dpr=2&fit=crop&h=429&w=330 660w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727246696-bnpl-wide.png?auto=format&crop=focalpoint&dpr=3&fit=crop&h=429&w=330 990w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727246696-bnpl-wide.png?auto=format&crop=focalpoint&dpr=4&fit=crop&h=429&w=330 1320w",src:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727246696-bnpl-wide.png?auto=format&crop=focalpoint&fit=crop&h=429&w=330",width:b,height:c,alt:x,title:a},alt:x,url:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727246696-bnpl-wide.png",title:a,width:p,height:q,mimeType:e},newsType:{title:h},flexibleContent:[{text:"\u003Cul\u003E\n\u003Cli\u003E\n\u003Cp\u003E\u003Cstrong\u003E BNPL (Buy Now, Pay Later) is transforming consumer finance by offering flexible, interest-free payment options that appeal to younger shoppers.\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\n\u003Cstrong\u003E \u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\n\u003Cli\u003E\u003Cstrong\u003E \u003C\u002Fstrong\u003E\n\u003Cp\u003E\u003Cstrong\u003ERetailers see higher sales and conversions by offering BNPL, but must balance the associated costs and risks.\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\n\u003Cstrong\u003E \u003C\u002Fstrong\u003E\u003C\u002Fli\u003E\n\u003Cli\u003E\u003Cstrong\u003E \u003C\u002Fstrong\u003E\n\u003Cp\u003E\u003Cstrong\u003EPayment orchestration optimizes the BNPL experience by streamlining payment methods, reducing costs, and ensuring compliance. \u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\n\u003C\u002Fli\u003E\n\u003C\u002Ful\u003E\n\u003Cp\u003E\u003Cem\u003EDon't have time to read more now? \u003Ca href=\"#signup\"\u003ESign up to our newsletter\u003C\u002Fa\u003E to get the latest insights directly in your inbox. \u003C\u002Fem\u003E\u003C\u002Fp\u003E"},{text:"\u003Cp\u003EIn recent years, the Buy Now, Pay Later (BNPL) model has taken the retail and finance worlds by storm. This innovative approach to consumer financing allows shoppers to purchase goods and services immediately while spreading the cost over a set period, often without interest.\u003C\u002Fp\u003E"},{text:"\u003Cp\u003EThe US boasts the \u003Ca href=\"https:\u002F\u002Fwww.globaldata.com\u002Fstore\u002Freport\u002Fbuy-now-pay-later-market-analysis\u002F\" target=\"_blank\" rel=\"noopener\"\u003Elargest BNPL market\u003C\u002Fa\u003E by value, while China leads in market volume. Notably, Sweden has the highest BNPL penetration rate, with BNPL accounting for 25% of all e-commerce sales in the country.\u003C\u002Fp\u003E\n\u003Cp\u003EThe BNPL market has surged due to shifting consumer preferences and the rise of e-commerce, attracting younger consumers with its deferred payment options. However, as banks and retailers join the market, it faces challenges from potential regulations and high interest rates. To remain competitive, BNPL providers must adapt by offering value-added services and expanding into broader financial services.\u003C\u002Fp\u003E\n\u003Cp\u003ESo, why is BNPL trending, how does it work, what are its benefits and drawbacks, and what does the future hold for this rapidly growing sector?\u003C\u002Fp\u003E"},{text:"\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EBNPL is a type of short-term financing that allows consumers to make purchases and pay for them in installments over time. Unlike traditional credit cards, BNPL options typically come with interest-free periods, making them an attractive alternative for many shoppers. Leading pureplay BNPL providers include Klarna, Afterpay, Affirm, and Walmart’s One. Additionally, several banks and other \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Faevi.com\u002Fwho-we-serve\u002Fpsps-isos\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003EPayment Service Providers (PSPs\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E) offering BNPL options are PayPal, HSBC, Citi, JPMorgan Chase, CommBank, and Monzo.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E"},{text:"\u003Col\u003E\n\u003Cli style=\"font-weight: 400;\" aria-level=\"1\"\u003E\u003Cb\u003EAt checkout\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E: When shopping online or in-store, consumers select the BNPL option at checkout.\u003C\u002Fspan\u003E\u003C\u002Fli\u003E\n\u003Cli style=\"font-weight: 400;\" aria-level=\"1\"\u003E\u003Cb\u003EPayment schedule\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E: The total purchase amount is divided into a series of smaller, manageable payments, usually spread over a few weeks or months.\u003C\u002Fspan\u003E\u003C\u002Fli\u003E\n\u003Cli style=\"font-weight: 400;\" aria-level=\"1\"\u003E\u003Cb\u003EAutomatic deductions\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E: Payments are automatically deducted from the consumer's bank account or charged to their credit\u002Fdebit card as per the agreed schedule.\u003C\u002Fspan\u003E\u003C\u002Fli\u003E\n\u003Cli style=\"font-weight: 400;\" aria-level=\"1\"\u003E\u003Cb\u003EInstant approval\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E: Approval for BNPL is typically instant, with minimal credit checks, making it accessible to a wide range of consumers.\u003C\u002Fspan\u003E\u003C\u002Fli\u003E\n\u003Cli style=\"font-weight: 400;\" aria-level=\"1\"\u003E\u003Cb\u003ECustomer journey\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E: Throughout the payment period, consumers can track their payment schedules and remaining balances via the BNPL provider's app or website, ensuring a seamless and transparent experience.\u003C\u002Fspan\u003E\u003C\u002Fli\u003E\n\u003C\u002Fol\u003E"},{text:"\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EWhen it comes to BNPL transactions, the process and user experience differs between online and in-person shopping.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Cul\u003E\n\u003Cli style=\"font-weight: 400;\" aria-level=\"1\"\u003E\u003Cb\u003EOnline BNPL transactions\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E: These are designed to be seamless and are directly integrated into retailers' payment systems. Consumers simply select the BNPL option at checkout, providing their personal and debit card details. This streamlined process makes it quick and convenient for users to make purchases without leaving the retailer's website.\u003C\u002Fspan\u003E\u003C\u002Fli\u003E\n\u003Cli style=\"font-weight: 400;\" aria-level=\"1\"\u003E\u003Cb\u003EIn-store BNPL transactions\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E: For in-person shopping, consumers need to use the BNPL provider's app, which generates virtual cards or QR codes for the transaction. These virtual cards can be added to mobile wallets for contactless payments, and they are often single-use, providing an extra layer of security.\u003C\u002Fspan\u003E\u003C\u002Fli\u003E\n\u003C\u002Ful\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EAdditionally, some BNPL companies offer physical cards. Unlike virtual cards, obtaining these requires a more formal application process and a strong credit profile for approval, similar to traditional credit card applications.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EOverall, while online BNPL transactions emphasize ease and integration, in-store BNPL options focus on flexibility and security, offering both virtual and physical card solutions to suit different consumer needs.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E"},{text:"\u003Col\u003E\n\u003Cli style=\"font-weight: 400;\" aria-level=\"1\"\u003E\u003Cb\u003EFinancial flexibility\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E: BNPL provides consumers with greater financial flexibility, allowing them to manage their cash flow more effectively without the burden of high-interest debt.\u003C\u002Fspan\u003E\u003C\u002Fli\u003E\n\u003Cli style=\"font-weight: 400;\" aria-level=\"1\"\u003E\u003Cb\u003EEnhanced shopping experience\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E: By offering a seamless and convenient payment option, retailers can enhance the shopping experience, potentially increasing customer satisfaction and loyalty.\u003C\u002Fspan\u003E\u003C\u002Fli\u003E\n\u003Cli style=\"font-weight: 400;\" aria-level=\"1\"\u003E\u003Cb\u003EAttracting younger consumers\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E: Millennials and \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Faevi.com\u002Fnewsroom\u002Fholistic-commerce\u002Fgen-z-digital-natives-shaping-payments\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003EGen Z\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E, who may be wary of traditional credit cards, find BNPL appealing due to its straightforward terms and lack of hidden fees.\u003C\u002Fspan\u003E\u003C\u002Fli\u003E\n\u003Cli style=\"font-weight: 400;\" aria-level=\"1\"\u003E\u003Cb\u003EBoosting sales\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E: Retailers benefit from higher conversion rates and increased average order values, as BNPL encourages consumers to make larger purchases.\u003C\u002Fspan\u003E\u003Cspan style=\"font-weight: 400;\"\u003E\u003C\u002Fspan\u003E\u003C\u002Fli\u003E\n\u003C\u002Fol\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003E\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cb\u003EThe benefits of BNPL:\u003C\u002Fb\u003E\u003C\u002Fp\u003E\n\u003Col\u003E\n\u003Cli style=\"font-weight: 400;\" aria-level=\"1\"\u003E\u003Cb\u003EInterest-free periods\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E: Many BNPL services offer interest-free periods, making it a cost-effective option for consumers who pay on time.\u003C\u002Fspan\u003E\u003C\u002Fli\u003E\n\u003Cli style=\"font-weight: 400;\" aria-level=\"1\"\u003E\u003Cb\u003EEasy access\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E: With minimal credit checks and instant approval, BNPL is accessible to a broad audience.\u003C\u002Fspan\u003E\u003C\u002Fli\u003E\n\u003Cli style=\"font-weight: 400;\" aria-level=\"1\"\u003E\u003Cb\u003EImproved budgeting\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E: The structured payment schedule helps consumers budget and plan their expenses more effectively.\u003C\u002Fspan\u003E\u003C\u002Fli\u003E\n\u003C\u002Fol\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003E\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cb\u003EThe drawbacks of BNPL:\u003C\u002Fb\u003E\u003C\u002Fp\u003E\n\u003Col\u003E\n\u003Cli style=\"font-weight: 400;\" aria-level=\"1\"\u003E\u003Cb\u003EPotential for overspending\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E: The ease of using BNPL can lead to overspending and accumulation of debt if consumers are not careful.\u003C\u002Fspan\u003E\u003C\u002Fli\u003E\n\u003Cli style=\"font-weight: 400;\" aria-level=\"1\"\u003E\u003Cb\u003ELack of trust\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E: Some customers may be skeptical about BNPL services due to concerns about hidden fees, potential impact on their credit scores, or lack of transparency in the terms and conditions. Additionally, there are those who prefer not to borrow money when making a purchase, choosing instead to pay upfront to avoid debt and financial obligations.\u003C\u002Fspan\u003E\u003C\u002Fli\u003E\n\u003Cli style=\"font-weight: 400;\" aria-level=\"1\"\u003E\u003Cb\u003ELate fees\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E: Missing a payment can result in significant late fees, which can add up quickly.\u003C\u002Fspan\u003E\u003C\u002Fli\u003E\n\u003Cli style=\"font-weight: 400;\" aria-level=\"1\"\u003E\u003Cb\u003ECredit impact\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E: BNPL services typically involve soft credit checks, but missed payments can still negatively impact a consumer's credit score, especially for younger customers with less disposable income and multiple sources of debt. In some countries like Germany, using BNPL services like Klarna may result in data being saved by credit bureaus like SCHUFA, potentially complicating future credit applications and contributing to the \"debt trap\" for young consumers. Additionally, BNPL data may not be processed responsibly by outdated credit \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Fwww.klarna.com\u002Finternational\u002Fpress\u002Fwhy-klarna-does-not-report-bnpl-payments-to-us-credit-bureaus\u002F\" target=\"_blank\" rel=\"noopener\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003Emodels in the US\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E, potentially lowering credit scores due to their inability to properly assess BNPL repayment behaviors.\u003C\u002Fspan\u003E\u003C\u002Fli\u003E\n\u003Cli style=\"font-weight: 400;\" aria-level=\"1\"\u003E\u003Cb\u003ERegulatory scrutiny\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E: As BNPL grows in popularity, it faces increasing regulatory scrutiny to ensure consumer protection and fair practices.\u003C\u002Fspan\u003E\u003Cspan style=\"font-weight: 400;\"\u003E\u003C\u002Fspan\u003E\u003C\u002Fli\u003E\n\u003C\u002Fol\u003E"},{text:"\u003Cp\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E\u003Cimg alt=\"Buy Now Pay Later, diagram, merchant, bank, provider, customer\" src=\"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1727246766-bnpl_supportingimage.png\" \u002F\u003E\u003C\u002Fspan\u003E\u003C\u002Fb\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cb\u003E\u003C\u002Fb\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cb\u003EMerchants\u002FRetailers\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E:\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Cul\u003E\n\u003Cli style=\"font-weight: 400;\" aria-level=\"1\"\u003E\u003Cb\u003EBenefits\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E: Merchants experience higher sales and improved conversion rates by offering BNPL options, attracting younger customers who prefer flexible payment methods.\u003C\u002Fspan\u003E\u003C\u002Fli\u003E\n\u003Cli style=\"font-weight: 400;\" aria-level=\"1\"\u003E\u003Cb\u003ECosts and risks\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E: They pay higher fees to BNPL providers but avoid credit and fraud risks associated with traditional credit cards.\u003C\u002Fspan\u003E\u003C\u002Fli\u003E\n\u003Cli style=\"font-weight: 400;\" aria-level=\"1\"\u003E\u003Cb\u003ECompetitive edge\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E: Offering BNPL helps retailers stay competitive in the market and differentiate themselves by catering to modern consumer preferences for convenience and financial flexibility.\u003C\u002Fspan\u003E\u003C\u002Fli\u003E\n\u003C\u002Ful\u003E\n\u003Cp\u003E\u003Cb\u003ECustomers\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E:\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Cul\u003E\n\u003Cli style=\"font-weight: 400;\" aria-level=\"1\"\u003E\u003Cb\u003EBenefits\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E: Customers enjoy convenient, mobile payment options without the need for physical cards, often utilizing QR codes or \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Faevi.com\u002Fnewsroom\u002Fpayments-landscape\u002Fdigital-wallet-changing-digital-payment-landscape\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003Edigital wallets\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E. BNPL offers interest-free installment payments, quick approval processes without hard credit checks, and flexibility in managing payments.\u003C\u002Fspan\u003E\u003C\u002Fli\u003E\n\u003Cli style=\"font-weight: 400;\" aria-level=\"1\"\u003E\u003Cb\u003EChallenges\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E: There is a risk of overspending and accumulating debt if not managed responsibly, especially for younger consumers with less financial experience.\u003C\u002Fspan\u003E\u003C\u002Fli\u003E\n\u003C\u002Ful\u003E\n\u003Cp\u003E\u003Cb\u003EBNPL providers\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E:\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Cul\u003E\n\u003Cli style=\"font-weight: 400;\" aria-level=\"1\"\u003E\u003Cb\u003ERole\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E: BNPL providers facilitate sales transactions between merchants and customers.\u003C\u002Fspan\u003E\u003C\u002Fli\u003E\n\u003Cli style=\"font-weight: 400;\" aria-level=\"1\"\u003E\u003Cb\u003ERevenue model\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E: They earn revenue from merchant fees and late fees, assuming the credit risk associated with deferred payments.\u003C\u002Fspan\u003E\u003C\u002Fli\u003E\n\u003Cli style=\"font-weight: 400;\" aria-level=\"1\"\u003E\u003Cb\u003EFinancial challenges\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E: Providers face higher operational costs with rising interest rates and regulatory scrutiny.\u003C\u002Fspan\u003E\u003C\u002Fli\u003E\n\u003Cli style=\"font-weight: 400;\" aria-level=\"1\"\u003E\u003Cb\u003EDiversification strategies\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E: To succeed and differentiate themselves, BNPL providers are exploring new revenue streams such as integrating with marketplaces and offering traditional financial services.\u003C\u002Fspan\u003E\u003C\u002Fli\u003E\n\u003Cli style=\"font-weight: 400;\" aria-level=\"1\"\u003E\u003Cb\u003EInnovative practices\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E: Some providers are becoming shopping destinations by allowing merchants to advertise on their platforms. They also focus on mastering customer journeys in specific product categories to enhance their value proposition.\u003C\u002Fspan\u003E\u003C\u002Fli\u003E\n\u003C\u002Ful\u003E\n\u003Cp\u003E\u003Cb\u003EBanks\u002FMerchant Acquirers\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E:\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Cul\u003E\n\u003Cli style=\"font-weight: 400;\" aria-level=\"1\"\u003E\u003Cb\u003EEntry into BNPL\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E: Banks and merchant acquirers are entering the BNPL space to leverage their existing customer base and infrastructure.\u003C\u002Fspan\u003E\u003C\u002Fli\u003E\n\u003Cli style=\"font-weight: 400;\" aria-level=\"1\"\u003E\u003Cb\u003EStrategies\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E: They develop their own BNPL products or partner with existing providers to capture a share of the growing market and diversify their payment offerings.\u003C\u002Fspan\u003E\u003C\u002Fli\u003E\n\u003Cli style=\"font-weight: 400;\" aria-level=\"1\"\u003E\u003Cb\u003ECompetitive advantage\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E: This move helps them stay competitive and meet the evolving demands of consumers seeking flexible payment options beyond traditional credit cards.\u003C\u002Fspan\u003E\u003C\u002Fli\u003E\n\u003C\u002Ful\u003E\n\u003Cp\u003E\u003Cb\u003EPayment Service Providers (PSPs)\u002FISOs\u002FISVs\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E:\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Cul\u003E\n\u003Cli style=\"font-weight: 400;\" aria-level=\"1\"\u003E\u003Cb\u003EBenefits\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E: PSPs, ISOs, and \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Faevi.com\u002Fwho-we-serve\u002Fisvs\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003EISVs\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E benefit from strong merchant relationships that they can strengthen by offering BNPL as part of their service portfolio.\u003C\u002Fspan\u003E\u003C\u002Fli\u003E\n\u003Cli style=\"font-weight: 400;\" aria-level=\"1\"\u003E\u003Cb\u003ECost and flexibility\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E: ISOs and ISVs often operate with lower overhead costs compared to banks, allowing them to potentially offer more competitive rates and terms to merchants and consumers.\u003C\u002Fspan\u003E\u003C\u002Fli\u003E\n\u003Cli style=\"font-weight: 400;\" aria-level=\"1\"\u003E\u003Cb\u003EMarket opportunity\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E: BNPL integration enhances their service offering, catering to the demand for flexible payment solutions in various industries.\u003C\u002Fspan\u003E\u003C\u002Fli\u003E\n\u003C\u002Ful\u003E\n\u003Cp\u003E\u003C\u002Fp\u003E"},{text:"\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EThe BNPL market is expected to continue its rapid growth, driven by ongoing consumer demand and retailer adoption. Here are some trends to watch:\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Col\u003E\n\u003Cli style=\"font-weight: 400;\" aria-level=\"1\"\u003E\u003Cb\u003EIncreased competition\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E: More players are entering the BNPL space, from fintech startups to established financial institutions, driving innovation and competitive offerings.\u003C\u002Fspan\u003E\u003C\u002Fli\u003E\n\u003Cli style=\"font-weight: 400;\" aria-level=\"1\"\u003E\u003Cb\u003ERegulation and compliance\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E: As BNPL becomes more mainstream, regulatory bodies are likely to impose stricter guidelines to protect consumers and ensure fair lending practices.\u003C\u002Fspan\u003E\u003C\u002Fli\u003E\n\u003Cli style=\"font-weight: 400;\" aria-level=\"1\"\u003E\u003Cb\u003EExpansion beyond retail\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E: BNPL services are expanding into new sectors, including travel, healthcare, and education, providing consumers with more opportunities to finance their purchases.\u003C\u002Fspan\u003E\u003C\u002Fli\u003E\n\u003Cli style=\"font-weight: 400;\" aria-level=\"1\"\u003E\u003Cb\u003ETechnological advancements\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E: Integration with emerging technologies, such as \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Faevi.com\u002Fnewsroom\u002Fpayments-landscape\u002Fai-financial-services\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003Eartificial intelligence\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E and machine learning, will enhance the BNPL experience, offering personalized financing options and improved risk management.\u003C\u002Fspan\u003E\u003C\u002Fli\u003E\n\u003C\u002Fol\u003E"},{text:"\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EThe Buy Now, Pay Later revolution is far from over. As this innovative financing model continues to gain traction, the future holds exciting possibilities. We can expect to see increased competition and innovation within the BNPL space, driven by both fintech startups and traditional \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Faevi.com\u002Fwho-we-serve\u002Ffinancial-institutions\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003Efinancial institutions\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E. Regulatory frameworks will likely evolve to ensure consumer protection and fair lending practices.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EFurthermore, BNPL services are set to expand beyond retail into sectors like travel, healthcare, and education, providing consumers with even more financing options. Technological advancements, particularly in artificial intelligence and machine learning, will enhance the BNPL experience, offering personalized financing solutions and better risk management. As we move forward, BNPL will play a crucial role in shaping the future of consumer finance, offering greater flexibility and convenience for shoppers worldwide.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E"},{},{text:"\u003Col\u003E\u003C\u002Fol\u003E\n\u003Cp\u003E\u003Ca href=\"https:\u002F\u002Fwww.capgemini.com\u002Ffi-en\u002Fwp-content\u002Fuploads\u002Fsites\u002F26\u002F2024\u002F02\u002FPayments-Top-Trends-2024_web.pdf\" target=\"_blank\" rel=\"noopener\"\u003E\u003Cem\u003E\u003Cspan style=\"font-weight: 400; font-size: 12px;\"\u003ESource: Capgemini Research Institute for Financial Services analysis, 2023\u003C\u002Fspan\u003E\u003C\u002Fem\u003E\u003C\u002Fa\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EAs the BNPL market expands, \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Faevi.com\u002Fplatform\u002Fpayment-orchestration\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003Epayment orchestration\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E plays a crucial role in its integration by simplifying and managing the growing array of payment providers and methods. By incorporating BNPL into a centralized \u003C\u002Fspan\u003E\u003Ca href=\"http:\u002F\u002Faevi.com\u002Fplatform\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003Eorchestration platform\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E, businesses can enhance the customer experience through seamless and streamlined payment processes while optimizing transaction costs. This integration allows merchants to easily offer flexible payment options like BNPL without adding complexity to their systems. Moreover, payment orchestration provides real-time insights and helps navigate compliance requirements, ensuring that BNPL transactions are handled smoothly and efficiently in response to evolving consumer demands for alternative financing solutions.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E"}]},{id:"HHqiyK7FRcG6I4WAZpZbkw",title:"How AI in payment orchestration can enhance user experience",slug:"how-ai-in-payment-orchestration-can-enhance-user-experience",categories:[{id:i,slug:j}],thumbnailImage:{responsiveImage:{srcSet:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1724246827-ai-in-orchestration-small-02.png?auto=format&crop=focalpoint&dpr=0.25&fit=crop&h=429&w=330 82w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1724246827-ai-in-orchestration-small-02.png?auto=format&crop=focalpoint&dpr=0.5&fit=crop&h=429&w=330 165w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1724246827-ai-in-orchestration-small-02.png?auto=format&crop=focalpoint&dpr=0.75&fit=crop&h=429&w=330 247w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1724246827-ai-in-orchestration-small-02.png?auto=format&crop=focalpoint&fit=crop&h=429&w=330 330w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1724246827-ai-in-orchestration-small-02.png?auto=format&crop=focalpoint&dpr=1.5&fit=crop&h=429&w=330 495w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1724246827-ai-in-orchestration-small-02.png?auto=format&crop=focalpoint&dpr=2&fit=crop&h=429&w=330 660w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1724246827-ai-in-orchestration-small-02.png?auto=format&crop=focalpoint&dpr=3&fit=crop&h=429&w=330 990w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1724246827-ai-in-orchestration-small-02.png?auto=format&crop=focalpoint&dpr=4&fit=crop&h=429&w=330 1320w",src:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1724246827-ai-in-orchestration-small-02.png?auto=format&crop=focalpoint&fit=crop&h=429&w=330",width:b,height:c,alt:y,title:a},alt:y,url:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1724246827-ai-in-orchestration-small-02.png",title:a,width:n,height:o,mimeType:e},featuredImage:{responsiveImage:{srcSet:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1724246835-ai-in-orchestration-wide-04.png?auto=format&crop=focalpoint&dpr=0.25&fit=crop&h=429&w=330 82w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1724246835-ai-in-orchestration-wide-04.png?auto=format&crop=focalpoint&dpr=0.5&fit=crop&h=429&w=330 165w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1724246835-ai-in-orchestration-wide-04.png?auto=format&crop=focalpoint&dpr=0.75&fit=crop&h=429&w=330 247w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1724246835-ai-in-orchestration-wide-04.png?auto=format&crop=focalpoint&fit=crop&h=429&w=330 330w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1724246835-ai-in-orchestration-wide-04.png?auto=format&crop=focalpoint&dpr=1.5&fit=crop&h=429&w=330 495w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1724246835-ai-in-orchestration-wide-04.png?auto=format&crop=focalpoint&dpr=2&fit=crop&h=429&w=330 660w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1724246835-ai-in-orchestration-wide-04.png?auto=format&crop=focalpoint&dpr=3&fit=crop&h=429&w=330 990w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1724246835-ai-in-orchestration-wide-04.png?auto=format&crop=focalpoint&dpr=4&fit=crop&h=429&w=330 1320w",src:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1724246835-ai-in-orchestration-wide-04.png?auto=format&crop=focalpoint&fit=crop&h=429&w=330",width:b,height:c,alt:y,title:a},alt:y,url:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1724246835-ai-in-orchestration-wide-04.png",title:a,width:p,height:q,mimeType:e},newsType:{title:h},flexibleContent:[{text:"\u003Cul\u003E\n  \u003Cli\u003E\n    \u003Cp\u003E\u003Cstrong\u003EBy analyzing consumer behavior and preferences, AI enables highly personalized payment experiences, leading to tailored recommendations, loyalty rewards, and interfaces that enhance customer satisfaction and drive brand loyalty.\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\n    \u003Cstrong\u003E \u003C\u002Fstrong\u003E\n  \u003C\u002Fli\u003E\n  \u003Cli\u003E\u003Cstrong\u003E \u003C\u002Fstrong\u003E\n    \u003Cp\u003E\u003Cstrong\u003EThe integration of multiple payment gateways and platforms is simplified through AI orchestration, ensuring smooth, real-time interoperability that provides a consistent and flexible payment experience across various methods.\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\n    \u003Cstrong\u003E \u003C\u002Fstrong\u003E\n  \u003C\u002Fli\u003E\n  \u003Cli\u003E\u003Cstrong\u003E \u003C\u002Fstrong\u003E\n    \u003Cp\u003E\u003Cstrong\u003EPayment security is being revolutionized with AI, which employs sophisticated algorithms for real-time threat detection and prevention, safeguarding transaction data, and preemptively shutting down potential fraud, thereby building trust in digital transactions. \u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\n  \u003C\u002Fli\u003E\n\u003C\u002Ful\u003E\n\u003Cp\u003E\u003Cem\u003EDon't have time to read more now? \u003Ca href=\"#signup\"\u003ESign up to our newsletter\u003C\u002Fa\u003E to get the latest insights directly in your inbox. \u003C\u002Fem\u003E\u003C\u002Fp\u003E"},{text:"\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EIf AI were a Greek myth, it would be the modern-day equivalent of King Midas's touch…, is there nothing AI touches that doesn’t turn into efficiency-gold?\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EThat’s certainly the case for AI’s role in \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Faevi.com\u002Fnewsroom\u002Fpayments-landscape\u002Fai-financial-services\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003Efinancial services\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E, and even more specifically, in payment orchestration. (Not so) quietly rewriting the rules, AI in payment orchestration is making things both smooth (for the merchant) and personal (for the customer). From spotting fraud before it happens to connecting systems in ways we never thought possible, it’s time we really understood the \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Faevi.com\u002Fnewsroom\u002Fpayments-landscape\u002Fai-trends-in-payments\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003Etrends\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E and capabilities of AI and what it means for our payment systems.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E"},{text:"\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003ELet’s imagine you’ve just walked into your favorite store, and as you approach the checkout, the payment terminal instantly recognizes your preferences. It offers you a tailored loyalty reward, suggests a payment method based on your past purchases, and even adjusts its interface to your preferred language or theme. This isn’t some futuristic fantasy; it’s the reality that AI orchestration in payments is making possible today.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EBy analyzing purchase history, preferences, and behavior, AI can deliver highly personalized payment interactions. AI algorithms sift through vast amounts of data to understand individual consumer needs and preferences, allowing businesses to offer personalized recommendations and promotions. This level of customization enhances the customer experience and drives brand loyalty, thus of course, increasing transaction values.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EFor Aevi, the integration of AI into payment orchestration is something we are incredibly excited about, as it means providing a platform where every interaction is fine-tuned to meet the user’s unique needs. Whether it’s adjusting the interface of \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Faevi.com\u002Fpropositions\u002Fpayments-plus\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003Epayment terminals\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E or mobile apps to match user preferences or offering personalized loyalty rewards, AI makes every transaction feel tailored and thoughtful, and that’s why we’re laser focused on looking at how we can integrate its capabilities into our platform…just watch this space. \u003C\u002Fspan\u003E\u003C\u002Fp\u003E"},{text:"\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EOne of the most significant challenges in the payment industry has been the integration of various payment methods and platforms. Traditionally, managing multiple \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Faevi.com\u002Fnewsroom\u002Fpayments-landscape\u002Fwhat-is-a-payment-gateway\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003Epayment gateways\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E, each with its own set of rules and protocols, has been a complex and cumbersome process. However, AI in payment orchestration is changing the game by enabling seamless integrations across a wider range of platforms and payment methods.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EAI in payment processing allows for real-time \u003C\u002Fspan\u003E\u003Cspan style=\"font-weight: 400;\"\u003E \u003C\u002Fspan\u003E\u003Cspan style=\"font-weight: 400;\"\u003Einteroperability\u003C\u002Fspan\u003E\u003Cspan style=\"font-weight: 400;\"\u003E between different systems, making it easier for businesses to accept payments from various sources without the hassle of manual configuration. This simplifies the payment process and ensures that consumers have a consistent and seamless experience, regardless of the \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Faevi.com\u002Fnewsroom\u002Fpayments-landscape\u002Fchoose-right-payment-method\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003Epayment method\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E they choose.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EAevi’s platform is designed to support seamless integrations, ensuring that businesses can easily adapt to new payment methods and technologies as they emerge. This flexibility is crucial, especially when technology is advancing so fast, and new payment methods and consumer preferences are constantly changing.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E"},{text:"\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EAs businesses grow, so do their payment processing needs. Scalability is essential, and AI is at the heart of making it possible. Advanced machine learning models and cloud-based infrastructure provide the foundation for AI systems to process and analyze large volumes of data across sectors and merchants. This means that as demand increases, AI-powered payment orchestration systems can seamlessly scale to handle the load without compromising on performance or user experience.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E"},{text:"\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EAs we all know, cyber threats are ever-present, so securing transaction data is more important than ever. AI is flipping the script on security, using advanced encryption and relentless threat scanning to stay ahead of the curve. It catches anomalies in real-time, \u003C\u002Fspan\u003E\u003Cspan style=\"font-weight: 400;\"\u003E‘\u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Fwww.paymentsjournal.com\u002Fhow-ai-and-data-can-support-security-first-payments-modernization\u002F\" target=\"_blank\" rel=\"noopener\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003Eexecuting their AML and KYC obligations at pace\u003C\u002Fspan\u003E\u003Cspan style=\"font-weight: 400;\"\u003E’\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E and shutting down risks before they even have a chance to strike. This isn’t just protection, it’s a pre-emptive strike against anything that dares to threaten your system.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EOne of Aevi’s partners, \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Faevi.com\u002Fmastercard-strategic-partnership\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003EMastercard\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E, shows how AI can be a powerful tool in combating fraud. Mastercard’s Decision Intelligence platform uses AI to analyze large-scale payment data in real-time, detecting and preventing fraud before it happens. This level of security protects consumers and builds trust in the payment system, encouraging more people to engage in digital transactions.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EAccording to an article in \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Fwww.forbes.com\u002Fsites\u002Fbernardmarr\u002F2024\u002F06\u002F21\u002Fhow-mastercard-uses-ai-strategically-a-case-study\u002F#:~:text=Mastercard's%20Strategic%20Use%20Of%20AI&text=This%20platform%20enables%20the%20company,enhancing%20fraud%20detection%20and%20prevention.\" target=\"_blank\" rel=\"noopener\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003EForbes\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E:\u003C\u002Fspan\u003E\u003Cspan style=\"font-weight: 400;\"\u003E “One of the primary ways Mastercard utilizes AI is through its decision management platform, which serves as the AI brain running within its network. This platform enables the company to make real-time, complex decisions on transactions, significantly enhancing fraud detection and prevention”.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E"},{text:"\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EAI in payment orchestration is no longer just a technological upgrade; it’s a fundamental shift in how financial services operate. From offering hyper-personalized customer experiences to ensuring smooth integration across platforms and safeguarding data with advanced security measures, AI is redefining every aspect of payments. \u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EAlthough payment gateways are just scratching the surface with AI, we at Aevi are excited about the groundbreaking possibilities. The future of AI in payment orchestration is looking incredibly bright, and we’re ready to push the boundaries of what’s possible.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E"}]},{id:"G_YNSzkgQZqodFxFPe__bw",title:"What open banking means for the payment industry",slug:"what-open-banking-means-for-the-payment-industry",categories:[{id:i,slug:j}],thumbnailImage:{responsiveImage:{srcSet:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1723619127-openbanking-small-01.png?auto=format&crop=focalpoint&dpr=0.25&fit=crop&h=429&w=330 82w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1723619127-openbanking-small-01.png?auto=format&crop=focalpoint&dpr=0.5&fit=crop&h=429&w=330 165w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1723619127-openbanking-small-01.png?auto=format&crop=focalpoint&dpr=0.75&fit=crop&h=429&w=330 247w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1723619127-openbanking-small-01.png?auto=format&crop=focalpoint&fit=crop&h=429&w=330 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1320w",src:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1723619127-openbanking-small-01.png?auto=format&crop=focalpoint&fit=crop&h=429&w=330",width:b,height:c,alt:z,title:a},alt:z,url:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1723619127-openbanking-small-01.png",title:a,width:n,height:o,mimeType:e},featuredImage:{responsiveImage:{srcSet:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1723619134-openbanking_wide-05-05.png?auto=format&crop=focalpoint&dpr=0.25&fit=crop&h=429&w=330 82w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1723619134-openbanking_wide-05-05.png?auto=format&crop=focalpoint&dpr=0.5&fit=crop&h=429&w=330 165w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1723619134-openbanking_wide-05-05.png?auto=format&crop=focalpoint&dpr=0.75&fit=crop&h=429&w=330 247w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1723619134-openbanking_wide-05-05.png?auto=format&crop=focalpoint&fit=crop&h=429&w=330 330w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1723619134-openbanking_wide-05-05.png?auto=format&crop=focalpoint&dpr=1.5&fit=crop&h=429&w=330 495w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1723619134-openbanking_wide-05-05.png?auto=format&crop=focalpoint&dpr=2&fit=crop&h=429&w=330 660w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1723619134-openbanking_wide-05-05.png?auto=format&crop=focalpoint&dpr=3&fit=crop&h=429&w=330 990w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1723619134-openbanking_wide-05-05.png?auto=format&crop=focalpoint&dpr=4&fit=crop&h=429&w=330 1320w",src:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1723619134-openbanking_wide-05-05.png?auto=format&crop=focalpoint&fit=crop&h=429&w=330",width:b,height:c,alt:z,title:a},alt:z,url:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1723619134-openbanking_wide-05-05.png",title:a,width:p,height:q,mimeType:e},newsType:{title:h},flexibleContent:[{text:"\u003Cul\u003E\n  \u003Cli\u003E\n    \u003Cp\u003E\u003Cstrong\u003EOpen banking is driving a wave of innovation and competition, allowing fintech startups to enter the market and offering businesses a broader range of tailored payment services.\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\n    \u003Cstrong\u003E \u003C\u002Fstrong\u003E\n  \u003C\u002Fli\u003E\n  \u003Cli\u003E\u003Cstrong\u003E \u003C\u002Fstrong\u003E\n    \u003Cp\u003E\u003Cstrong\u003EBy integrating various financial services, open banking significantly enhances customer experiences, enabling personalized, real-time payment solutions that cater to individual needs.\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\n    \u003Cstrong\u003E \u003C\u002Fstrong\u003E\n  \u003C\u002Fli\u003E\n  \u003Cli\u003E\u003Cstrong\u003E \u003C\u002Fstrong\u003E\n    \u003Cp\u003E\u003Cstrong\u003EOpen banking reduces transaction costs by eliminating middlemen, improving cash flow, and allowing businesses to offer more competitive pricing to their customers.\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\n  \u003C\u002Fli\u003E\n  \u003Cli\u003E\u003Cstrong\u003E \u003C\u002Fstrong\u003E\n    \u003Cp\u003E\u003Cstrong\u003ESecurity and compliance are paramount in open banking, with advanced measures like encryption and fraud detection ensuring the safety of customer data while maintaining system flexibility.\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\n  \u003C\u002Fli\u003E\n  \u003Cli\u003E\u003Cstrong\u003E \u003C\u002Fstrong\u003E\n    \u003Cp\u003E\u003Cstrong\u003EAevi’s in-person payments orchestration platform is designed to thrive in the open banking environment, offering adaptable, secure, and seamless payment solutions that help businesses stay ahead of the competition.\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\n  \u003C\u002Fli\u003E\n\u003C\u002Ful\u003E\n\u003Cp\u003E\u003Cem\u003EDon't have time to read more now? \u003Ca href=\"#signup\"\u003ESign up to our newsletter\u003C\u002Fa\u003E to get the latest insights directly in your inbox. \u003C\u002Fem\u003E\u003C\u002Fp\u003E"},{text:"\u003Cp\u003E\u003Cb\u003EOpen banking is shaking up the payments scene like never before.\u003C\u002Fb\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cb\u003EThink of it as the fintech equivalent of giving traditional banking a software update, introducing a wave of new features and efficiencies that modernize the entire financial ecosystem, opening up vast new possibilities for businesses and consumers alike.\u003C\u002Fb\u003E\u003C\u002Fp\u003E"},{text:"\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EBut what exactly does open banking mean for the payments industry, and why is everyone from startups to big banks jumping on board? Let’s break it down, dig into some real-world scenarios, and see how this seismic shift is transforming the way money moves.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E"},{text:"\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EOpen banking simplifies financial management by allowing different services to securely share data while keeping your information safe, and therefore it benefits both individuals and businesses. For individuals, it enables apps to access bank data securely, offering better financial management and personalized services. For businesses, it streamlines payments, improves cash flow, and provides flexible payment options. In essence, open banking uses \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Faevi.com\u002Fplatform\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003Eopen APIs\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E to let third-party providers access customer banking data (with their permission, of course) to create innovative financial products and services. This \"\u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Faevi.com\u002Fnewsroom\u002Fpayments-landscape\u002Fwhat-is-psd3-and-how-does-it-impact-the-payment-industry\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003Edata liberation\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E\" gives consumers more control over their finances and provides businesses with tools to better meet their needs.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E"},{text:"\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EBefore diving into how and why open banking is transforming the payments industry, it’s helpful to first understand the state of financial services before open banking came into play.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EBefore open banking, financial services were often siloed, with banks and financial institutions holding customer data tightly within their own systems. This made it difficult for individuals to get a comprehensive view of their financial health, and for businesses to integrate with multiple financial services efficiently. Transactions and data sharing were cumbersome and lacked flexibility, leading to higher costs and slower processes. In fact, before open banking, it was reported that \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Fmyponto.com\u002Fen\u002Fthe-potential-of-open-banking-for-businesses\u002F\" target=\"_blank\" rel=\"noopener\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003E90% of SMEs\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E did not have the necessary resources to benefit from technical integrations with banks.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EBut, with the \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Fprivacymatters.dlapiper.com\u002F2024\u002F01\u002Fus-open-banking-regulation-arrives-in-the-us\u002F#:~:text=In%202010%2C%20Congress%20included%20a,that%20engages%20in%20offering%20or\" target=\"_blank\" rel=\"noopener\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003Eintroduction of open banking\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E, everything changed, and here’s how…\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Col\u003E\n\u003Cli\u003E\u003Cb\u003E Increased competition and innovation \u003C\u002Fb\u003E\u003C\u002Fli\u003E\n\u003C\u002Fol\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EOpen banking opens the market to new players, expanding beyond traditional banks and a few payment providers. Fintech startups are now entering the scene, boosting competition and driving innovation. For example, challenger banks like Monzo and Revolut have gained millions of users with their intuitive, user-friendly apps. As a result, businesses now have a wide range of payment services to choose from, tailored to meet diverse customer needs. According to \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Fwww.paymentsjournal.com\u002Fgetting-customers-ready-for-open-banking\u002F\" target=\"_blank\" rel=\"noopener\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003EPayments Journal\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E, “\u003C\u002Fspan\u003E\u003Cspan style=\"font-weight: 400;\"\u003EAbout half of the top 20 financial institutions are dipping their toes into services like external account aggregation and third-party access oversight and control. A handful of them are advancing further with capabilities such as automated direct deposit switching and card-on-file management.”\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Col start=\"2\"\u003E\n\u003Cli\u003E\u003Cb\u003E Enhanced customer experience \u003C\u002Fb\u003E\u003C\u002Fli\u003E\n\u003C\u002Fol\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EIn open banking, the customer is king, and they know it. By integrating a range of financial services, businesses can offer unified, personalized payment experiences that make customers feel like VIPs. For example, a customer’s favorite coffee shop can automatically track that customer’s spending habits and offer them a loyalty discount at checkout, all without lifting a finger. Real-time \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Faevi.com\u002Fplatform\u002Fpayment-processing\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003Epayment processing\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E and instant transfers mean no more waiting around for funds to clear, whether you’re buying a flat white or closing a big business deal.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Col start=\"3\"\u003E\n\u003Cli\u003E\u003Cb\u003E Cost reduction and streamlining\u003C\u002Fb\u003E\u003C\u002Fli\u003E\n\u003C\u002Fol\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003ERemember the days when every transaction felt like it was padded with unnecessary fees? Open banking is helping to eliminate those middlemen, reducing transaction costs and letting businesses pass on the savings to customers by \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Ffinancialservicesblog.accenture.com\u002Fwp-content\u002Fuploads\u002F2018\u002F08\u002FOpen-Banking-OBAA-Session-Final.pdf\" target=\"_blank\" rel=\"noopener\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003E20%.\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E For merchants, this means more competitive pricing, better cash flow, and the ability to reinvest those savings back into their business.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Col start=\"4\"\u003E\n\u003Cli\u003E\u003Cb\u003E Security and compliance \u003C\u002Fb\u003E\u003C\u002Fli\u003E\n\u003C\u002Fol\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EWith great power comes great responsibility. The open flow of data in open banking demands tight security and compliance measures.\u003C\u002Fspan\u003E\u003Cspan style=\"font-weight: 400;\"\u003E \u003C\u002Fspan\u003E\u003Cspan style=\"font-weight: 400;\"\u003EWe’re talking about strong encryption, two-factor authentication, and advanced fraud detection systems designed to protect against even the most determined cyber threats. For businesses, this means \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Faevi.com\u002Fpartner-with-us\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003Epartnering with platforms like Aevi\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E that prioritize security without compromising on flexibility. In an era where data breaches are a daily headline, the ability to guarantee customer data safety isn’t just important, it’s non-negotiable.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Col start=\"5\"\u003E\n\u003Cli\u003E\u003Cb\u003E Data-driven insights\u003C\u002Fb\u003E\u003C\u002Fli\u003E\n\u003C\u002Fol\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EOpen banking turns data into a goldmine of insights, with as much precision as being able to predict customer behavior before they even walk through your door. By analyzing transaction patterns and financial habits, businesses can tailor their marketing strategies to speak directly to their customer every time. For instance, a retailer could offer personalized discounts to customers based on their spending trends, driving up sales and loyalty in one fell swoop. To further demonstrate how this works in real-time, we’ve put together a quick, \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Fwww.youtube.com\u002Fwatch?v=GW1Og7_RQwE\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003Eexplanatory video on YouTube\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E to show you how our device-agnostic platform can do this.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E"},{text:"\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EFrom opening doors for fintech disruptors to pushing traditional banks to up their game, the impact of open banking is far-reaching, especially in these 6 industries:\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cb\u003EFintech startups: \u003C\u002Fb\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EOpen banking makes it easier for fintech startups to enter the market by providing access to bank data via APIs. This enables them to quickly develop innovative financial products and collaborate with traditional banks to enhance their offerings.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cb\u003ETraditional banks: \u003C\u002Fb\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003ETraditional banks can use open banking to expand their services and stay competitive. By integrating new features through open banking, banks can improve customer retention and attract new clients with enhanced digital solutions.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cb\u003EMerchants:\u003C\u002Fb\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EOpen banking offers merchants flexible payment options, reduced processing costs, and faster transactions. This improves cash flow and enhances the \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Faevi.com\u002Fnewsroom\u002Fmerchant-solutions\u002Fultimate-merchant-experience\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003Eoverall shopping experience\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E for customers.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cb\u003EISVs:\u003C\u002Fb\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EISVs can leverage open banking to integrate \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Faevi.com\u002Fnewsroom\u002Fpayments-landscape\u002Fmaximising-payment-flexibility-and-efficiency-why-isvs-need-a-payment-orchestration-platform\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003Eadvanced financial services\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E into their products, such as instant bank-to-bank transfers, or real-time fraud detection, providing end-to-end payment solutions that meet evolving customer needs.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cb\u003EPSPs:\u003C\u002Fb\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EPSPs benefit from open banking by diversifying their payment options and \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Faevi.com\u002Fnewsroom\u002Fpayments-landscape\u002Fhow-payment-service-providers-are-driving-innovation-in-the-digital-payment-landscape\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003Eexpanding their service portfolios\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E, attracting new customer segments and enhancing their offerings. For example, imagine a PSP that traditionally offered only credit card processing. With open banking, they can now integrate direct bank transfers, real-time payments, and even account-to-account transfers into their platform. This expansion allows them to cater to a wider range of customer needs, from businesses seeking lower transaction fees to those requiring faster payment settlements.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cb\u003EISOs:\u003C\u002Fb\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EISOs can stay ahead by offering secure, cutting-edge payment technologies in an open banking environment. This allows them to provide versatile and competitive payment solutions to merchants. (This is a big one, and certainly warrants its own article, so if you’re an ISO, consider reading our complementary \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Faevi.com\u002Fnewsroom\u002Fmerchant-solutions\u002Fisos-build-recurring-revenue-streams\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003Erecurring revenue streams\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E whitepaper for some deeply insightful intel.)\u003C\u002Fspan\u003E\u003C\u002Fp\u003E"},{text:"\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003ESo, why is everyone talking about open banking? It’s the perfect storm of regulatory change, consumer demand for better services, and technological advancements. Europe and the UK have led the charge with regulations like \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Faevi.com\u002Fnewsroom\u002Fevents-awards\u002Finterview-psd2-enablement\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003EPSD2\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E (the Revised Payment Services Directive), which mandates that banks must open up their data to third-party providers. This regulatory push has ignited interest worldwide, with more regions looking to replicate this success.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EIn addition to this, open banking promises to increase financial inclusion, particularly in regions where access to traditional banking is limited. By lowering the barriers to entry, it’s enabling more people to access financial services, which in turn is driving demand for more innovative, customer-focused solutions.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EAevi’s in-person payments orchestration \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Faevi.com\u002Fplatform\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003Eplatform\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E is designed to be as adaptable and flexible as the open banking environment itself. Whether you’re a fintech startup looking to break into the market or a traditional bank seeking to innovate, Aevi offers the secure, compliant, and seamless payment experience you need to stay ahead. By utilizing Aevi’s platform, businesses can unify their payment experiences across different channels, ensuring they’re not just keeping up with the competition, but setting the pace. So, if you’re ready to get set and go, \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Faevi.com\u002Fget-in-touch#sales\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003Espeak to one of our team\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E today. \u003C\u002Fspan\u003E\u003C\u002Fp\u003E"}]},{id:"cmTBdgOERsOe7uu7NXNgvA",title:"Everything EPOS - The key advantages for ISOs, ISVs & their merchants",slug:"everything-epos-key-advantages",categories:[{id:H,slug:I}],thumbnailImage:{responsiveImage:{srcSet:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1723197756-epos-small-03.png?auto=format&crop=focalpoint&dpr=0.25&fit=crop&h=429&w=330 82w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1723197756-epos-small-03.png?auto=format&crop=focalpoint&dpr=0.5&fit=crop&h=429&w=330 165w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1723197756-epos-small-03.png?auto=format&crop=focalpoint&dpr=0.75&fit=crop&h=429&w=330 247w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1723197756-epos-small-03.png?auto=format&crop=focalpoint&fit=crop&h=429&w=330 330w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1723197756-epos-small-03.png?auto=format&crop=focalpoint&dpr=1.5&fit=crop&h=429&w=330 495w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1723197756-epos-small-03.png?auto=format&crop=focalpoint&dpr=2&fit=crop&h=429&w=330 660w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1723197756-epos-small-03.png?auto=format&crop=focalpoint&dpr=3&fit=crop&h=429&w=330 990w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1723197756-epos-small-03.png?auto=format&crop=focalpoint&dpr=4&fit=crop&h=429&w=330 1320w",src:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1723197756-epos-small-03.png?auto=format&crop=focalpoint&fit=crop&h=429&w=330",width:b,height:c,alt:A,title:a},alt:A,url:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1723197756-epos-small-03.png",title:a,width:n,height:o,mimeType:e},featuredImage:{responsiveImage:{srcSet:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1723197761-epos-wide-06.png?auto=format&crop=focalpoint&dpr=0.25&fit=crop&h=429&w=330 82w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1723197761-epos-wide-06.png?auto=format&crop=focalpoint&dpr=0.5&fit=crop&h=429&w=330 165w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1723197761-epos-wide-06.png?auto=format&crop=focalpoint&dpr=0.75&fit=crop&h=429&w=330 247w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1723197761-epos-wide-06.png?auto=format&crop=focalpoint&fit=crop&h=429&w=330 330w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1723197761-epos-wide-06.png?auto=format&crop=focalpoint&dpr=1.5&fit=crop&h=429&w=330 495w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1723197761-epos-wide-06.png?auto=format&crop=focalpoint&dpr=2&fit=crop&h=429&w=330 660w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1723197761-epos-wide-06.png?auto=format&crop=focalpoint&dpr=3&fit=crop&h=429&w=330 990w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1723197761-epos-wide-06.png?auto=format&crop=focalpoint&dpr=4&fit=crop&h=429&w=330 1320w",src:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1723197761-epos-wide-06.png?auto=format&crop=focalpoint&fit=crop&h=429&w=330",width:b,height:c,alt:A,title:a},alt:A,url:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1723197761-epos-wide-06.png",title:a,width:p,height:q,mimeType:e},newsType:{title:h},flexibleContent:[{text:"\u003Cul\u003E\n  \u003Cli\u003E\n    \u003Cp\u003E\u003Cstrong\u003EEPOS systems aren't a new concept, but they can be revolutionary for merchants by transforming how they operate their business and utilize valuable customer data.\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\n    \u003Cstrong\u003E \u003C\u002Fstrong\u003E\n  \u003C\u002Fli\u003E\n  \u003Cli\u003E\u003Cstrong\u003E \u003C\u002Fstrong\u003E\n    \u003Cp\u003E\u003Cstrong\u003EEPOS systems streamline transactions, automate inventory management, and provide real-time data reporting, significantly reducing operational burdens and minimizing errors for merchants.\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\n    \u003Cstrong\u003E \u003C\u002Fstrong\u003E\n  \u003C\u002Fli\u003E\n  \u003Cli\u003E\u003Cstrong\u003E \u003C\u002Fstrong\u003E\n    \u003Cp\u003E\u003Cstrong\u003EEPOS systems offer advanced analytics, enabling precise sales forecasting, trend identification, and personalized marketing, giving merchants a competitive edge. \u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\n  \u003C\u002Fli\u003E\n  \u003Cli\u003E\u003Cstrong\u003E \u003C\u002Fstrong\u003E\n    \u003Cp\u003E\u003Cstrong\u003EEmbracing EPOS technology is a strategic necessity for ISOs and ISVs, positioning them as forward-thinking partners capable of delivering sophisticated, future-ready solutions to merchants. \u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\n  \u003C\u002Fli\u003E\n\u003C\u002Ful\u003E\n\u003Cp\u003E\u003Cem\u003EDon't have time to read more now? \u003Ca href=\"#signup\"\u003ESign up to our newsletter\u003C\u002Fa\u003E to get the latest insights directly in your inbox. \u003C\u002Fem\u003E\u003C\u002Fp\u003E"},{text:"\u003Cp\u003EConsidering your vital role in helping merchants facilitate transactions with their customers, would you agree that the future of commerce depends on the ability to provide not just transactions, but transformative experiences that enhance the point-of-sale experience for both customers and merchants alike? Allow us to explain…\u003C\u002Fp\u003E"},{text:"\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EAs technology evolves, merchants, and you - their service providers - are constantly encouraged to offer solutions that are not only efficient but are also adaptable, scalable, and above all, future-proof.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EYou might already agree that traditional \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Faevi.com\u002Fnewsroom\u002Fpoint-of-sale\u002Fwhat-is-a-pos-system\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003EPOS systems\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E are no longer enough, as they can struggle with outdated processes and some certainly lack the flexibility modern businesses need in terms of interconnectivity with other software. This means they can often fail to meet the growing expectations of today’s savvy consumers, and that’s where EPOS systems come in.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003ENow, it’s not like EPOS systems are a \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Fwww.forbes.com\u002Fsites\u002Fforbestechcouncil\u002F2017\u002F04\u002F05\u002Fthe-evolution-of-point-of-sale\u002F\" target=\"_blank\" rel=\"noopener\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003Ebrand new concept\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E, but that doesn’t mean to say they can’t be revolutionary to merchants who aren’t currently using them.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EIn the same way that \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Faevi.com\u002Fnewsroom\u002Fpayments-landscape\u002Fexploring-the-world-of-contactless-payment-systems\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003Econtactless payments\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E revolutionized the checkout process by making transactions faster and more convenient, EPOS systems can elevate the entire point-of-sale (POS) experience by improving not just the speed and convenience for the customer, but the back-end benefits for the merchant, especially through the ability to intake reams of customer data. In short, EPOS systems transform how merchants manage their business. Therefore, for \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Faevi.com\u002Fwho-we-serve\u002Fpsps-isos\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003EISOs\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E and \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Faevi.com\u002Fwho-we-serve\u002Fisvs\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003EISVs\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E, embracing EPOS technology isn’t just an option, it’s a strategic necessity.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003ESo, how can you leverage this powerful tool to offer a more compelling, competitive package to your merchants? Let's dive in and explore how EPOS systems are transforming the payment scene, one advantage at a time.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E"},{text:"\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EAt its core, EPOS - short for Electronic Point of Sale - refers to a digital system that manages the sales process. Unlike traditional POS systems with their one-dimensional, ‘click, receipt, done’ functionality, EPOS systems combine two key components: physical hardware and software. These systems are integrated with various software solutions, enabling a range of functionalities that go beyond simple transactions.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EEPOS systems are designed to enhance efficiency across the board. By streamlining transactions, automating inventory management, and providing real-time data reporting, these systems significantly reduce the operational burdens on merchants. \u003C\u002Fspan\u003E\u003C\u002Fp\u003E"},{text:"\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EThink of SmartPOS systems as modern, portable devices—like tablets or smartphones. They’re great for on-the-go transactions, whether you're running a pop-up shop or a food truck. They offer flexibility and ease of use.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EOn the other hand, EPOS systems are more like robust, all-in-one workstations. They come with dedicated hardware and a rich feature set, handling everything from complex operations to detailed reporting and seamless integration with other business tools. They’re ideal for businesses that need a powerful, reliable system to manage various aspects of their operations.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EIn essence, SmartPOS is perfect for mobility and simplicity, while EPOS offers a comprehensive, dependable solution for more intricate business needs.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E"},{text:"\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EEPOS systems are particularly well-suited for businesses with high transaction volumes and complex operations, such as large retail stores, restaurants, and chain operations that need all the product inventory bells and whistles. They’re also ideal for sectors requiring real-time data to manage multiple locations or teams. Let’s take a closer look…\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EConsider a busy retail store that manages a high volume of sales each day. Traditionally, the store’s staff would have to:\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Cul\u003E\n  \u003Cli style=\"font-weight: 400;\" aria-level=\"1\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003EManually track inventory\u003C\u002Fspan\u003E\u003C\u002Fli\u003E\n  \u003Cli style=\"font-weight: 400;\" aria-level=\"1\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003ETally sales at the end of the day\u003C\u002Fspan\u003E\u003C\u002Fli\u003E\n  \u003Cli style=\"font-weight: 400;\" aria-level=\"1\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003EReconcile discrepancies\u003C\u002Fspan\u003E\u003C\u002Fli\u003E\n\u003C\u002Ful\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003E…all while ensuring accurate pricing and providing efficient customer service.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EThis manual process is not only time-consuming but also prone to errors, leading to potential stockouts and overstocking, which in turn leads to inconsistent customer experiences.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EWith an EPOS system in place, these challenges are dramatically reduced. Transactions are automatically recorded and synced with inventory levels in real-time, ensuring that stock quantities are always up to date without the need for manual checks. For instance, when an item is sold, the system instantly updates the inventory count, triggers reorder alerts if stock is low, and even adjusts the pricing dynamically if needed. At the end of the day, instead of spending hours on sales reconciliation, the merchant can access a detailed, real-time sales report that’s accurate to the last transaction.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003ENow, consider what that means to your time-poor merchants?\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EThis automation not only saves time but also minimizes errors; it also reduces the need for manual labor and allows staff to focus on enhancing customer service rather than getting bogged down by administrative tasks.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EFor ISOs and ISVs, offering EPOS as part of your portfolio not only adds value to your services but also positions you as a forward-thinking partner capable of empathizing with your merchants’ biggest pain point and delivering sophisticated, future-ready solutions as the medicine…but which one can confidently deliver it all?\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EThere are, of course, many EPOS options available, but none capitalize on maximizing the potential of EPOS systems as effectively as Aevi's \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Faevi.com\u002Fplatform\u002Fin-person-payments\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003Ein-person payment\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E orchestration platform does. Aevi's platform not only enhances the automation capabilities of EPOS systems but also provides a comprehensive ecosystem that brings together various payment and business management tools. This allows merchants to streamline their operations, making it easier to manage payments, inventory, and customer interactions all from a single interface.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E"},{text:"\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EIf that’s not enough, the advantages of EPOS extend to advanced analytics too. With real-time data, EPOS systems give merchants a competitive edge in these 4 areas:\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Col\u003E\n  \u003Cli\u003E\u003Cb\u003E\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E     \u003C\u002Fspan\u003E\u003Cb\u003EPrecision in sales forecasting\u003C\u002Fb\u003E\u003C\u002Fli\u003E\n\u003C\u002Fol\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EWith EPOS systems, historical sales data transforms into accurate sales forecasts. Merchants can anticipate which products will be in demand, ensuring optimal inventory levels, which means no more overstocking or running out of popular items.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Col start=\"2\"\u003E\n  \u003Cli\u003E\u003Cb\u003E\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E     \u003C\u002Fspan\u003E\u003Cb\u003EUncovering trends and customer preferences\u003C\u002Fb\u003E\u003C\u002Fli\u003E\n\u003C\u002Fol\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EThese systems also provide deep insights into sales trends and customer behavior. Merchants can identify best-sellers and refine their inventory, and adjust marketing strategies to meet customer demand. If a product isn’t performing, decisions can be made quickly, so they can decide whether to discount, bundle, or replace it.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Col start=\"3\"\u003E\n  \u003Cli\u003E\u003Cb\u003E\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E     \u003C\u002Fspan\u003E\u003Cb\u003EOperational efficiency\u003C\u002Fb\u003E\u003C\u002Fli\u003E\n\u003C\u002Fol\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EEPOS data helps merchants optimize staffing and resource allocation. By understanding peak hours and busy days, they can ensure the right level of staffing, reducing wait times and enhancing customer satisfaction.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Col start=\"4\"\u003E\n  \u003Cli\u003E\u003Cb\u003E\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E     \u003C\u002Fspan\u003E\u003Cb\u003EPersonalized marketing and real-time adjustments\u003C\u002Fb\u003E\u003C\u002Fli\u003E\n\u003C\u002Fol\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EEPOS systems make targeted marketing easy. Merchants can use customer data to create personalized promotions and loyalty programs. Plus, with real-time reporting, they can make quick adjustments to capitalize on emerging trends.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EAevi’s \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Faevi.com\u002Fplatform\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003Edevice-agnostic platform\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E, in particular, supports this enhanced efficiency by offering unified and efficient payment experiences for both merchants and customers. This means that your merchants can benefit from faster checkouts, reduced errors, and more consistent pricing - key factors that contribute to a better overall customer experience.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E"},{text:"\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EAs the adage goes, ‘treat a customer well, and they’ll tell one person; treat them poorly and they’ll tell ten’. Put simply, \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Faevi.com\u002Fnewsroom\u002Fpoint-of-sale\u002Fpos-systems-and-customer-experiences\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003Ecustomer experience is everything\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E. Merchants who can offer faster checkouts, multiple payment options and personalized service are more likely to retain customers and drive repeat business. EPOS systems play a crucial role in this by enabling merchants to provide a smoother, more personalized shopping experience.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EFor instance, EPOS systems can store and analyze customer purchase history, allowing merchants to offer personalized recommendations or \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Faevi.com\u002Fnewsroom\u002Fpayments-landscape\u002Fdriving-customer-engagement-loyalty-through-gamification\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003Etargeted promotions\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E based on past purchases. If a customer frequently buys certain products, the system can alert the merchant to offer discounts on those items or suggest complementary products during checkout. Additionally, EPOS systems can integrate with loyalty programs, automatically applying rewards or discounts without requiring the customer to present a separate card or code.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EThis level of personalization extends to payment options as well. By accepting various payment methods - from traditional credit cards to \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Faevi.com\u002Fnewsroom\u002Fpayments-landscape\u002Fdigital-wallet-changing-digital-payment-landscape\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003Edigital wallets\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E and even buy-now-pay-later (BNPL) options - merchants can cater to the specific preferences of each customer, making the checkout process not just faster but more aligned with individual needs. And, this is even before we start talking about EPOS’ \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Faevi.com\u002Fnewsroom\u002Fpayments-landscape\u002Fcreating-a-seamless-omnichannel-experience\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003Eomnichannel integration capabilities\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E. This tailored approach not only enhances the shopping experience but also builds stronger customer loyalty, encouraging repeat visits and higher spending.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EAevi’s future-ready \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Faevi.com\u002Fplatform\u002Fpayment-technology-build-on-android\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003EAndroid EPOS systems\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E are particularly well-suited for this task, offering the flexibility and adaptability needed to meet the diverse needs of modern consumers. By integrating Aevi’s platform into your offering, you can help your merchants stay ahead of customer expectations, leading to higher satisfaction and retention rates.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E"},{text:"\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EFor ISOs and ISVs, embracing EPOS solutions as part of your offering isn’t just a value-add; it’s a game-changer. It’s your ticket to transforming merchants into data-driven powerhouses, enabling them to make smarter decisions faster. By providing these cutting-edge tools, you’re not just offering a service, you’re cementing your role as the partner who fuels their long-term success and future-proofs their business against the competition. If you’d like to know how Aevi can help with that, \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Faevi.com\u002Fget-in-touch#sales\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003Elet’s talk.\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003C\u002Fp\u003E"}]},{id:"W4yrv0oETqCJEoHLfwd91w",title:"From e-commerce player to card-present supported by SmartPOS",slug:"from-e-commerce-player-to-card-present-supported-by-smartpos",categories:[{id:H,slug:I}],thumbnailImage:{responsiveImage:{srcSet:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1723199274-ecom_to_smartpos_thumb.png?auto=format&crop=focalpoint&dpr=0.25&fit=crop&h=429&w=330 82w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1723199274-ecom_to_smartpos_thumb.png?auto=format&crop=focalpoint&dpr=0.5&fit=crop&h=429&w=330 165w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1723199274-ecom_to_smartpos_thumb.png?auto=format&crop=focalpoint&dpr=0.75&fit=crop&h=429&w=330 247w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1723199274-ecom_to_smartpos_thumb.png?auto=format&crop=focalpoint&fit=crop&h=429&w=330 330w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1723199274-ecom_to_smartpos_thumb.png?auto=format&crop=focalpoint&dpr=1.5&fit=crop&h=429&w=330 495w",src:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1723199274-ecom_to_smartpos_thumb.png?auto=format&crop=focalpoint&fit=crop&h=429&w=330",width:b,height:c,alt:B,title:a},alt:B,url:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1723199274-ecom_to_smartpos_thumb.png",title:a,width:L,height:M,mimeType:e},featuredImage:{responsiveImage:{srcSet:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1723199262-ecom_to_smartpos.png?auto=format&crop=focalpoint&dpr=0.25&fit=crop&h=429&w=330 82w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1723199262-ecom_to_smartpos.png?auto=format&crop=focalpoint&dpr=0.5&fit=crop&h=429&w=330 165w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1723199262-ecom_to_smartpos.png?auto=format&crop=focalpoint&dpr=0.75&fit=crop&h=429&w=330 247w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1723199262-ecom_to_smartpos.png?auto=format&crop=focalpoint&fit=crop&h=429&w=330 330w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1723199262-ecom_to_smartpos.png?auto=format&crop=focalpoint&dpr=1.5&fit=crop&h=429&w=330 495w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1723199262-ecom_to_smartpos.png?auto=format&crop=focalpoint&dpr=2&fit=crop&h=429&w=330 660w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1723199262-ecom_to_smartpos.png?auto=format&crop=focalpoint&dpr=3&fit=crop&h=429&w=330 990w,https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1723199262-ecom_to_smartpos.png?auto=format&crop=focalpoint&dpr=4&fit=crop&h=429&w=330 1320w",src:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1723199262-ecom_to_smartpos.png?auto=format&crop=focalpoint&fit=crop&h=429&w=330",width:b,height:c,alt:B,title:a},alt:B,url:"https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1723199262-ecom_to_smartpos.png",title:a,width:s,height:D,mimeType:e},newsType:{title:h},flexibleContent:[{text:"\u003Cul\u003E\n  \u003Cli\u003E\n    \u003Cp\u003E\u003Cstrong\u003ESmartPOS technology seamlessly integrates online and offline sales channels, ensuring consistent customer experiences and operational efficiency.\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\n    \u003Cstrong\u003E \u003C\u002Fstrong\u003E\n  \u003C\u002Fli\u003E\n  \u003Cli\u003E\u003Cstrong\u003E \u003C\u002Fstrong\u003E\n    \u003Cp\u003E\u003Cstrong\u003ESmartPOS systems support diverse payment methods and advanced analytics, enhancing customer convenience and enabling data-driven decision-making.\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\n    \u003Cstrong\u003E \u003C\u002Fstrong\u003E\n  \u003C\u002Fli\u003E\n  \u003Cli\u003E\u003Cstrong\u003E \u003C\u002Fstrong\u003E\n    \u003Cp\u003E\u003Cstrong\u003ETransitioning to SmartPOS simplifies the management of card-not-present and card-present transactions, supported by comprehensive integration and expert partnership solutions.\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\n  \u003C\u002Fli\u003E\n\u003C\u002Ful\u003E\n\u003Cp\u003E\u003Cem\u003EDon't have time to read more now? \u003Ca href=\"#signup\"\u003ESign up to our newsletter\u003C\u002Fa\u003E to get the latest insights directly in your inbox. \u003C\u002Fem\u003E\u003C\u002Fp\u003E"},{text:"\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003ETalk to any \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Faevi.com\u002Fwho-we-serve\u002Fpayment-gateway-for-ecommerce\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003Ee-commerce\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E player and they'll tell you the future of retail lies in connecting the dots between online and offline shopping, as increasingly, we, the end customers, are measuring our in-store shopping experiences against the seamlessness of online shopping. \u003C\u002Fspan\u003E\u003C\u002Fp\u003E"},{text:"\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EThis makes it crucial for digital dynamos to deliver a checkout process that's not just smooth, but enjoyable and stress-free. Traditional POS systems are failing us, bogged down by long queues, limited payment options, and impersonal service. Enter smart POS systems with their mobile-first approach, offering personalized shopping experiences that not only elevate in-store satisfaction but also keep merchants competitive, relevant, and poised to boost market share and revenue streams.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003ESo, how can retailers create a seamless omnichannel experience? Let's get stuck in and explore how SmartPOS is transforming the retail industry one benefit at a time. \u003C\u002Fspan\u003E\u003C\u002Fp\u003E"},{text:"\u003Cp\u003E\u003Ca href=\"https:\u002F\u002Faevi.com\u002Fnewsroom\u002Fpoint-of-sale\u002Funderstanding-smartpos\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003ESmartPOS,\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E an advanced point-of-sale (POS) system, has transformed from a simple transaction processor to a comprehensive solution for managing sales, customer interactions, and business operations. Unlike traditional POS systems and \u003Ca href=\"https:\u002F\u002Faevi.com\u002Fnewsroom\u002Fpoint-of-sale\u002Feverything-epos-key-advantages\"\u003EEPOS\u003C\u002Fa\u003E systems that primarily handle payments, SmartPOS integrates multiple functions such as \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Faevi.com\u002Fplatform\u002Fpayment-processing\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003Epayment processing\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E, inventory management, and customer relationship management (CRM). This evolution is crucial for e-commerce players looking to establish a robust physical presence.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E"},{text:"\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EFor e-commerce players aiming to extend their influence into physical retail spaces, SmartPOS presents a hugely beneficial and strategic solution. It enables unified integration between online and in-store operations, offering expanded market opportunities and heightened customer convenience, such as:\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Col\u003E\n  \u003Cli\u003E\u003Cb\u003E\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E \u003C\u002Fspan\u003E\u003Cspan style=\"font-weight: 400;\"\u003E\u003Cspan\u003E \u003C\u002Fspan\u003E\u003C\u002Fspan\u003E\u003Cb\u003EOmnichannel and smooth shopping experience\u003C\u002Fb\u003E\u003C\u002Fli\u003E\n\u003C\u002Fol\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EFor e-commerce businesses, expanding into brick-and-mortar stores offers a valuable opportunity to create more touchpoints where they can meet their customers wherever they are and satisfy their needs online and offline in the same way, as their data is available in every channel, which is known as “connected commerce”. According to a report by Harvard Business Review, companies with strong omnichannel strategies retain \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Fhbr.org\u002F2017\u002F01\u002Fa-study-of-46000-shoppers-shows-that-omnichannel-retailing-works#:~:text=The%20omnichannel%20strategy%20hinges%20on,by%20leveraging%20their%20store%20assets.\" target=\"_blank\" rel=\"noopener\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003E89%\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E of their customers, compared to 33% for those with weak omnichannel approaches. SmartPOS systems enable retailers to synchronize their online and offline operations, ensuring consistent pricing, promotions, and customer data.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EFor example, imagine a retail chain that sells electronics both through their e-commerce platform and physical stores across multiple locations. With SmartPOS technology implemented, when a customer purchases a product online, the inventory is instantly updated across all physical stores and the online platform. This ensures that the product availability information is accurate and consistent for both online shoppers and those visiting the physical stores.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EAdditionally, promotional campaigns and pricing changes can be synchronized flawlessly, guaranteeing that customers receive the same offers and prices regardless of their shopping channel. This integration enhances customer satisfaction and operational efficiency, as retailers can manage their entire inventory and promotional strategies from a centralized SmartPOS system. This smooth integration enhances customer satisfaction by allowing shoppers to enjoy a uniform experience across all platforms.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Col start=\"2\"\u003E\n  \u003Cli\u003E\u003Cb\u003E\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E \u003C\u002Fspan\u003E\u003Cspan style=\"font-weight: 400;\"\u003E\u003Cspan\u003E \u003C\u002Fspan\u003E\u003C\u002Fspan\u003E\u003Cb\u003EMaximizing the value of data via orchestration\u003C\u002Fb\u003E\u003C\u002Fli\u003E\n\u003C\u002Fol\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EIn addition to managing sales channels, platforms that offer \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Faevi.com\u002Fplatform\u002Fpayment-orchestration\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003Epayments \u003C\u002Fspan\u003E\u003Cspan style=\"font-weight: 400;\"\u003Eorchestration\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E capabilities, such as Aevi’s are instrumental in maximizing the value of data from e-commerce to the new card-present setup. By utilizing Aevi's in-person payment orchestration \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Faevi.com\u002Fplatform\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003Eplatform\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E, retailers can leverage insights gathered from online sales to optimize product offerings, promotions, and customer engagement strategies across all channels. This orchestration ensures that data flows efficiently between e-commerce platforms and SmartPOS systems, enabling retailers to make informed decisions that drive growth and improve operational efficiency.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Col start=\"3\"\u003E\n  \u003Cli\u003E\u003Cb\u003E\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E \u003C\u002Fspan\u003E\u003Cspan style=\"font-weight: 400;\"\u003E\u003Cspan\u003E \u003C\u002Fspan\u003E\u003C\u002Fspan\u003E\u003Cb\u003EExpanding market reach by capturing in-person sales opportunities\u003C\u002Fb\u003E\u003C\u002Fli\u003E\n\u003C\u002Fol\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EEstablishing a physical presence with the help of SmartPOS systems allows e-commerce businesses to tap into in-person sales opportunities and make them as innovative and smooth as those offering online. Despite the growth of online shopping, physical stores remain a significant revenue source, with \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Fnrf.com\u002Fresearch-insights\u002Fstate-retail#:~:text=80%25%20of%20all%20shopping%20still%20happens%20in%20stores.\" target=\"_blank\" rel=\"noopener\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003E80%\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E of retail sales still occurring in physical stores. By leveraging SmartPOS technology, e-commerce players can capture this market share, offering customers the convenience of in-person shopping while maintaining the high standards of their online services.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Col start=\"4\"\u003E\n  \u003Cli\u003E\u003Cb\u003E\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E \u003C\u002Fspan\u003E\u003Cspan style=\"font-weight: 400;\"\u003E\u003Cspan\u003E \u003C\u002Fspan\u003E\u003C\u002Fspan\u003E\u003Cb\u003EIncreasing customer convenience by offering more payment options\u003C\u002Fb\u003E\u003C\u002Fli\u003E\n\u003C\u002Fol\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003ESmartPOS systems support a variety of payment methods, including contactless payments, EMV (Europay, Mastercard and Visa) chip cards, and \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Faevi.com\u002Fnewsroom\u002Fpayments-landscape\u002Fdigital-wallet-changing-digital-payment-landscape\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003Edigital wallets\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E, making transactions faster and more convenient for customers. A study by Statista found that \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Fwww.statista.com\u002Fstatistics\u002F1111233\u002Fpayment-method-usage-transaction-volume-share-worldwide\u002F\" target=\"_blank\" rel=\"noopener\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003E75%\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E of global consumers prefer shopping at stores that offer multiple payment options, with mobile wallets accounting for roughly half of global payment transactions, making it the most popular payment method worldwide. By adopting SmartPOS, e-commerce retailers can meet these expectations, enhancing customer satisfaction and loyalty.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E"},{text:"\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003ETransitioning from e-commerce to a physical storefront entails various critical aspects such as choosing the right location, effectively managing inventory, and adequately training staff for in-person customer interactions. However, one of the foremost challenges lies in seamlessly integrating the digital and physical realms of business operations. SmartPOS technology addresses this challenge by offering a unified platform capable of handling both online (card-not-present) and in-store (card-present) transactions.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EBy consolidating these functionalities into a single system, SmartPOS streamlines operations, synchronizes inventory management across channels, and reduces the complexity and operational costs associated with managing separate online and offline sales processes. This integration ultimately enhances efficiency, improves customer service consistency, and supports a cohesive omnichannel retail strategy.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EAdditionally, partnering with \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Faevi.com\u002Fplatform\u002Fin-person-payments\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003Ein-person payment experts\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E can further simplify the transition. These experts provide white-label solutions and have extensive knowledge of SmartPOS technology, making the shift smoother and more efficient.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E"},{text:"\u003Col\u003E\n  \u003Cli\u003E\u003Cb\u003E\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E \u003C\u002Fspan\u003E\u003Cspan style=\"font-weight: 400;\"\u003E\u003Cspan\u003E \u003C\u002Fspan\u003E\u003C\u002Fspan\u003E\u003Cb\u003EIntegrated payment processing\u003C\u002Fb\u003E\u003C\u002Fli\u003E\n\u003C\u002Fol\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EOne of the standout features of SmartPOS systems is their ability to handle multiple payment types, including contactless, EMV, and magnetic stripe transactions. This versatility ensures that retailers can cater to all customer preferences, enhancing the shopping experience.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Col start=\"2\"\u003E\n  \u003Cli\u003E\u003Cb\u003E\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E     \u003C\u002Fspan\u003E\u003Cb\u003EAdvanced analytics\u003C\u002Fb\u003E\u003C\u002Fli\u003E\n\u003C\u002Fol\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003ESmartPOS systems offer advanced analytics, providing real-time sales data and customer insights. This information is invaluable for making informed business decisions, identifying trends, and optimizing operations. \u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Col start=\"3\"\u003E\n  \u003Cli\u003E\u003Cb\u003E\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E     \u003C\u002Fspan\u003E\u003Cb\u003EInventory management\u003C\u002Fb\u003E\u003C\u002Fli\u003E\n\u003C\u002Fol\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003ESmartPOS systems synchronize online and offline inventory, reducing the risk of stockouts and overstocking. This synchronization ensures that customers can check product availability in real-time, both online and in-store, improving satisfaction and sales.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Col start=\"4\"\u003E\n  \u003Cli\u003E\u003Cb\u003E\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E     \u003C\u002Fspan\u003E\u003Cb\u003ESpeed and efficiency\u003C\u002Fb\u003E\u003C\u002Fli\u003E\n\u003C\u002Fol\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003ESmartPOS systems significantly reduce wait times and streamline checkout processes. And, as \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Fwww.forrester.com\u002Fpress-newsroom\u002F72-of-businesses-name-improving-customer-experience-their-top-priority\u002F\" target=\"_blank\" rel=\"noopener\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003E72%\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E of customers consider fast checkout a critical factor in their shopping experience. By adopting SmartPOS, retailers can meet this demand, improving overall customer satisfaction.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Col start=\"5\"\u003E\n  \u003Cli\u003E\u003Cb\u003E\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E     \u003C\u002Fspan\u003E\u003Cb\u003EPersonalization\u003C\u002Fb\u003E\u003C\u002Fli\u003E\n\u003C\u002Fol\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003ESmartPOS systems leverage customer data to offer personalized interactions and loyalty programs. Personalized experiences are highly valued by consumers, with \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Fwww.epsilon.com\u002Fus\u002Fabout-us\u002Fpressroom\u002Fbetter-to-be-loved-than-needed-when-driving-consumer-engagement-epsilon-study-finds\" target=\"_blank\" rel=\"noopener\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003E60%\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E stating they are more likely to do business with a company that offers personalized experiences in-store and in marketing practices.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Col start=\"6\"\u003E\n  \u003Cli\u003E\u003Cb\u003E\u003C\u002Fb\u003E\u003Cspan style=\"font-weight: 400;\"\u003E     \u003C\u002Fspan\u003E\u003Cb\u003EValue-added services\u003C\u002Fb\u003E\u003C\u002Fli\u003E\n\u003C\u002Fol\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003ESmartPOS systems offer more than just payments, as they provide features such as digital receipts, loyalty points, and promotions, that deliver the same experience in store as the end customer would experience online. These additional services not only improve convenience but also encourage repeat business.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E"},{text:"\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EThe future of SmartPOS systems is heavily influenced by emerging technologies like AI and IoT (Internet of Things), paving the way for enhanced analytics, automation, and customer interactions. As consumer expectations evolve, SmartPOS solutions are evolving in tandem to meet these dynamic demands, urging retailers to adopt the latest innovations to maintain superior customer experiences.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003EStrategic planning is essential for preparing businesses for forthcoming advancements in payment technology, emphasizing the importance of future-proofing operations through the integration of orchestration solutions.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E\n\u003Cp\u003E\u003Cspan style=\"font-weight: 400;\"\u003ETransitioning from e-commerce to a physical storefront supported by SmartPOS not only enriches the customer journey but also optimizes operational efficiencies, enabling retailers to deliver seamless omnichannel experiences that align with modern consumer expectations and drive sustained growth. Discover how a platform with full orchestration and integration capabilities like Aevi’s can help you achieve this, by \u003C\u002Fspan\u003E\u003Ca href=\"https:\u002F\u002Faevi.com\u002Fget-in-touch\"\u003E\u003Cspan style=\"font-weight: 400;\"\u003Espeaking to one of the team\u003C\u002Fspan\u003E\u003C\u002Fa\u003E\u003Cspan style=\"font-weight: 400;\"\u003E today.\u003C\u002Fspan\u003E\u003C\u002Fp\u003E"}]}]}}],fetch:{},mutations:[]}}(null,330,429,"meta","image\u002Fpng","",0,"Thought leadership","Pv54Mn3WSU-ay7o770T8uQ","payments-landscape",45,20,"news_text_block",2167,2855,8000,4017,"Boosting sustainability in payments with digital payments",1920,"Piramide diagram explaining IaaS, PaaS, SaaS","payments, go green, sustainibility","Mobile payments, transaction, challenges, opportunities","Cyber security, online payments","Buy Now Pay Later, Shopping Card, Shopping Bags","human hand, robot hand, heart, AI","Phone, open banking","ePOS, terminal, payments","ecommerce solutions supported by SmartPOS  to link online commerce with in-person payments",false,964,"image\u002Fjpeg","Boosting Payment Sustainability | Payment sustainability","Discover how businesses in the payment ecosystem are boosting payment sustainability and how the sector is creating more environmentally friendly industry.","A00EMdtJRke4pWZ3Xm4gcw","point-of-sale","https:\u002F\u002Fwww.datocms-assets.com\u002F110819\u002F1700751716-payment_sustainability.jpg?auto=format&fit=max&w=1200","en",520,685,"Graphs")));