Globally, the way people shop, work, travel, and access services—among many other facets of daily life—has undergone drastic changes over the last two years. This is reshaping the payments industry in a myriad of ways. As global economies recover from the struggles of the pandemic, humanity is set to enter a new phase in the payments industry. The year 2021 was focused on making businesses robust and resilient, and the next 18 months are poised to witness sustainable growth powered by digital technology.
Today, customers expect faster transactions in all sectors, and this has been accelerated even further by smartphone-enabled mobile apps and the associated online payment services. Consumers are also becoming more familiar with new payment technologies, including digital wallets and QR-based solutions. These card payment trends are proven to get shoppers back in the store, allowing consumers to make contactless payments in a secure and time-efficient manner. The rapid growth of digital transactions makes it significantly mandatory for organizations to set up robust payment gateways to maintain the integrity of their transactions and have a strong security framework. Companies can satisfy such requirements by seeking robust end-to-end payment solutions to help them manage accounts and payouts while protecting their payment data.
In this edition of Banking CIO Outlook, we present some of the most promising payment and card solution providers. The edition features thought leadership articles from William Kniering, SVP, Head of Commercial Card at Texas Capital Bank, and Garnett Volk, Vice President, Credit Risk at Conexus Credit Union. The edition also features Team Quality as the cover story, alongside other innovative companies, including Hyfin and Tilled that are facilitating efficient and secure remote payments and offering robust PayFac-as-a-Service to help businesses take control of their financial processes and achieve consistent revenue growth
