Paystand’s Post

Let’s explore how Payments as a Service (#PaaS) is revolutionizing #paymentprocesses across retail, corporate, and #governmentsectors. In this fast-paced #digital landscape, PaaS offers tailored, flexible, and #safepayment options, enhancing efficiency, cutting expenses, and ensuring #smooth transaction experiences. Read this full article by: Lalit Chowdhary – Sr. Vice President – Implementation & Delivery. #electvronicsnews #technologynews

Banks’ growing AI ambitions are driving migration to cloud-based architectures at a growing rate https://zurl.co/4MgE #cloud #clouddeployment #cloudhosting #technology #cloudtech #businesstech

Embedded Finance!! This concept involves integrating financial services into systems so that they become transparent to users. APIs plays an important role in improving the scalability of financial services: - APIs help scalability by enabling real-time interactions between services. - APIs promote a modular architecture where microservices can be developed, deployed, and scaled independently. - APIs enable horizontal scaling, where additional instances of services can be added to handle increased demand. - Cloud providers offer auto-scaling features, adjusting resources based on demand. Check out #modee new website Jordan as a Platform https://jaap.gov.jo/ https://lnkd.in/eQP9S7j8

Just published my 2024 predictions blog on 3 key trends at https://lnkd.in/eqAmZBJP They are open banking, orchestration tool adoption, and building ecosystems. #Fintech #Cloud #openbanking #intelligentautomation #saas #BPaaS

What is Payments as a Service (PaaS)? Payment as a Service provider's design of cloud-based platforms. These combine a variety of different specialised services under one umbrella. Rather than outsourcing the entire payments stack, customers can pick and choose the services they want. While traditional payment processors offer an all-in-one solution with little opportunity for customisation, these operate differently. Payment as a Service examples include features like cross-border transactions, ecommerce gateways, payments clearing, card issuing, and others. You can decide which features you need, and only pay for them rather than the full suite. The aim is to use technology in such a way that businesses can handle high transaction volumes faster and at lower cost. While every solution is different, generally PaaS platforms allow financial services providers to pass on advanced payment products to their customers at lower cost. There’s no need to pay for internal investment or a full-scale solution. Instead, businesses can pick and choose what they want to offer with greater flexibility. PaaS enables them to pass on these products through third-party, cloud-based platforms. A PaaS platform handles storage, networking, servers, runtime, and the operating system. This means that financial service providers only need to think about the data itself and the applications they’ll need. There’s no need to purchase separate hardware, cutting costs. Small businesses can reap the benefits of PaaS providers, both in terms of cost and convenience. This technology allows organisations to access the latest tech toolkit without breaking the bank. Because you can pick and choose the services you want, you can focus on the most relevant features. You also save money on hardware and hosting infrastructure, with everything stored in the cloud. Another benefit is that Payment as a Service platform can help you process high volumes of transactions. It’s a scalable solution for small businesses that might just be getting started. While traditional payment hubs can take years to develop and bring to market, with PaaS you can bring your product to market in a matter of weeks. As with other payment gateways, not all Payments as Service providers are created equally. When comparing options, you should consider the following features. > Fraud and risk management tools to ensure compliance with all Australian regulations > Cloud-based infrastructure for better speed and reliability > Real-time payment processing for better customer service > ISO 20022 for global standardisation when processing data > Data reporting and analytics capabilities using the latest AI and machine learning technology > Open APIs for easy integration with your existing systems #fintech #cdac #learnFintech #PaaS #Payments

Banks’ growing AI ambitions are driving migration to cloud-based architectures at a growing rate https://zurl.co/4MgE #cloud #clouddeployment #cloudhosting #technology #cloudtech #businesstech

Should banks go serverless? ☁️ Drawing on a wealth of experience from tech leadership to hands-on product development, Miha Hribar breaks down the pros, cons, and real-world applications of serverless banking. From his tenure at Toshl Finance to consulting on complex cloud solutions, Miha's deep industry insights make this a must-read. #ServerlessBanking #FinancialTechnology #BankingInnovation #tretton37

Elevating Wealth Management through Strategic Technology Integration and Cloud Migration Maveric Systems Limited https://lnkd.in/g4Cmh2aE #WealthManagement #CloudMigration #TechIntegration #FinancialInnovation #DigitalTransformation

Check out our latest press release to learn more about automated payments!

Change Financial provides positive trading update on the rollout of its Vertexon PaaS platform in Australia, New Zealand and the USA. #fintech #fintechnews #finance #financialtechnology #payments #digitalpayments #PaaS #australianfintech #usfintech #nzfintech