Transform Your Digital Service Offerings Using Digital Payments

Transform Your Digital Service Offerings Using Digital Payments

Transformation. This is, perhaps, the key theme of the past year and a half. Banking behaviors transformed. Consumer expectations and behaviors transformed. Business operations transformed. From the way people and businesses communicate to the way customers make payments, one thing is for sure: the transformation is moving towards a more digitally enabled world.

If there is a sector that has been the recipient of a total transformation for its consumers then that would arguably the digital payment sector. Digital payment adoption has skyrocketed in the last year and a half, and experts say consumers have not seeded the end of this acceleration as the world largely starts to prepare for a cashless society. Payment orchestration platforms have seen a huge uptake by financial service companies to address the skyrocketing digital payment adoption of their market.

The early adopters and the pre-2020 adopters had experienced a huge positive spike in terms of digital payments volume during the last year. A leading bank in the Philippines reported more than 150% growth on their digital banking services and they are poised to top that by end of 2021. A Philippine-based e-wallet and payment services provider is reporting a daily peak of over PhP 7 billion transactions a day wherein their user base has grown to nearly 70% of the previous year – all because of a now basic consumer need: digital payments and with this, payment orchestration platforms.

Global studies show that while the majority of people still want cash and are hanging on to cash, people have accepted digital payments as a secure, safe way to make purchases, pay bills, and whatnot. Consumers are realizing and adapting the value of digital payment technologies, and as the technologies improve, adoption will continue to grow – and the best digital payments technology to adopt is Geniusto’s PSI solution.

PSI is our next generation, omnichannel payment orchestration platform. It has a highly scalable and powerful payments & settlements engine that has multilingual and multicurrency foreign capabilities. PSI works for almost any business type – from e-commerce companies to telecom companies to microinsurance companies. With PSI, companies can automate and process a large volume of payments and collection of commissions securely. The platform has advanced orchestration engine allows business to set their own business rules within the platform. This results in fewer mistakes that are mostly caused by human error. PSI extensive features for payment process lets business accept and process payments both locally and globally, extending the client network of the business. What is more, PSI isn’t complex to integrate with any of your existing API-capable systems.

Contactless payments will continue to boom in the years to come and we can show you how your business can partake in that boom. To find out how email us at info@geniusto.com and let’s start to get your digital payments game on.

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