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While real-time payments (RTP) was previously considered an infrastructure luxury, it has now become a common method of payment in many parts of the world. This adoption has changed the payments landscape. Digital and RTP payments have dramatically accelerated the pre-existing, but slow-moving trend, away from cash and checks.
It has these newer, faster methods running across core payments infrastructure that was not built to support so many, so fast. Although there is no physical “supply” in digitalpayments, the need to keep up with consumer’s expectations is just as real and can pose just as much of a challenge. Alphabet Soup.
The company already has what he termed a “material footprint” in digitalpayments and cloud-delivered services. The B2B space has had to adapt, too, he said — and that points to a longer trend where checks will hang on and co-exist with digitalpayments for a good long while. On The Path To Digitization.
Mangopay is providing the payment infrastructure for the rapidly-growing B2C platform Webel, which grew tenfold in both 2022 and 2023, with 2.5 Kuarere is a C2B platform for renting space for audiovisual productions, filming, events, commercials or movies. million euros in bookings last year.
Today in PYMNTS’ data, financial services firms are moving electronic money and data, banks have major concerns about data management, multiple zettabytes of information are now produced on a global scale, consumers are more satisfied with features offered by large-format stores than small-format ones and ransomware is crippling small businesses.
Against that backdrop, to enable the seamless flow of commerce across consumers, companies and supply chains, Agarwal said, payments need to seamless, too.
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