Business publications that don’t talk much about new payment processing methods are burying the lede – that exciting new types of technology are making new things possible in the world of finance.
We’re seeing an explosion of technology today related to the idea of payments and transactions. One of the more commonly familiar terms is cryptocurrency – the idea that you can create digital money on the blockchain to rival national fiat currencies like the dollar. But that’s only a small part of the picture when it comes to payment and transaction technology. There’s a lot more to it than that, and business leaders should know about it.
A broader way to think about this is to talk about decentralized finance in general. What this means is that new tools are eliminating the need for traditional bank verification that have often introduced a lot of cost and delay to a verification process. So then there are new opportunities to change how payments are done.
Stakeholders are finding new ways to process payments that experts call “frictionless transaction.” That means there are not a lot of the same bottlenecks that you would find in a traditional banking system.
Others talk about consensus-based verification with digital assets.
The bottom line is that payment facilitators of all kinds are running to accept these new technologies, because of the advantages that they provide. Whether it’s on-boarding merchants, creating new revenue streams or simply allowing for a faster, easier purchase, these new finance technologies are contributing quite a bit to our business world today. That’s something to keep an eye on as we continue to move toward new cloud and distributed models.
Payments with AmaryllisPay
At AmaryllisPay, we are involved in operating new programs that help clients to build in their own functionality to take advantage of all that today’s decentralized finance world has to offer.
Our processing methodology helps firms to change the game in terms of how they accomplish transactions with customers, how they bill, and how they do bookkeeping.
In addition, our white label system means that these clients can ‘own’ the technology, operationally speaking, and present it to the world confidently.
In the context of today’s fast-paced business world, this is a big advantage with companies continually coming in to offer new payment processing methods and new ideas related to decentralized finance.
Take a look at the website for more on how this works. We can help you to modernize to meet the challenges of the future!