Payments Consultant

Alternative Payment Methods

An alternative payment method (APM) is any non-traditional way of making payments that doesn't rely on cash or standard credit/debit cards. Examples include e-wallets, mobile payments, prepaid cards, bank transfers, and cryptocurrencies, offering flexibility and convenience in digital transactions.

Account to Account Payments

Account-to-account (A2A) payment methods involve transferring funds directly between bank accounts, whether within the same bank or across different banks. These transactions are conducted electronically, offering a secure and efficient way to transfer money without using cash or checks.

Payment Facilitation

Payment Facilitation is the process of integrating a payment system into a Independent Software Vendor (ISV) to enable sub-merchant payments.

Local Payment Methods

Frictionless Payments

The goal of frictionless payments is to provide a smooth, efficient, and pleasant experience for the user, enhancing overall satisfaction and reducing cart abandonment rates.

Contactless Payments

The rapid adoption of NFC and mobile wallets signifies a shift towards quicker, more secure transaction methods, reducing physical contact and enhancing customer convenience.

Digital Wallets

Platforms like Apple Pay and Google Pay are revolutionizing how consumers manage payments, offering seamless integration with smartphones and encouraging cashless transactions.

Cryptocurrency

The acceptance of cryptocurrencies such as Bitcoin highlights a growing interest in decentralized payment systems, leveraging blockchain technology for enhanced security and global transactions.

QR Code Payments

QR code-based systems are simplifying transactions, particularly in emerging markets, by allowing users to scan and pay swiftly using their smartphones.

Embedded Finance

Payment functionalities embedded within non-financial platforms are expanding, providing users with integrated payment solutions directly within their everyday digital interactions.

Subscription Services

The rise of subscription-based models reflects a strategic shift towards recurring revenue streams, offering predictability and continuous value to both businesses and consumers.

3-D Secure (3DS)

3-D Secure is a security protocol designed to provide an additional layer of authentication for online credit and debit card transactions.

Biometric Authentication

The integration of biometric features ensures robust security measures, validating payments through unique biological markers like fingerprints or facial recognition.

PCI-DSS Compliance

PCI-DSS or the Payment Card Industries Data Security Standards are a set of guidelines to keep all payment data safe and secure.

Secure Sockets Layer (SSL) / Transport Layer Security (TLS):

Protocols that establish a secure connection between a user's browser and a server, ensuring data transmitted is encrypted.

Strong Customer Authentication (SCA)

Strong Customer Authentication is a requirement of the European Union's Revised Payment Services Directive (PSD2) aimed at reducing fraud and making online payments more secure.

Two-Factor Authentication (2FA)

Requiring two forms of identification (e.g., password and a one-time code sent to a mobile device) to verify the user’s identity.

Tokenization

Replacing sensitive payment data with unique identification symbols (tokens) that retain essential information without compromising security.

Network Tokenization

Network tokens are digital representations of card details used to enhance security in online transactions. Employed by major card networks, these tokens replace sensitive information with a unique identifier, shielding actual card data from exposure during payments.