Payment processing

With the advent of the quantum computing, current encryption algorithms stand to be broken, and all of our data could be vulnerable as a result, writes Malte Pollmann, CEO of Utimaco.

Starbucks achieved rapid adoption of its mobile card app by building it on top of the highly successful Starbucks closed-loop gift card. Such a model could also apply to the cannabis market, which is largely shunned by mainstream banks and card networks.

India's regulatory approach shows it's serious about supporting myriad international payment technology plays, in contrast to China's doing the bare minimum to satisfy international pressure for openness.

Tokenization as a technology is suitable to support multiple payment use cases via a single system, ensuring emerging commercial models and the ability to adapt to new requirements are not constrained by an inflexible security framework, writes David Worthington, vice president of payments at Rambus.

Businesses that stick with the single gateway strategy will eventually find themselves challenged to grow with customer demands, as well as expand globally. As businesses grow, multiple payment processors are not only preferred, but required, writes Krish Subramanian, CEO and co-founder of Chargebee.

If an employee is in need of money and struggling to wait for payday, ZayZoon wants "payday" to mean any day the employee chooses to receive those funds from an employer.

Considering that cryptocurrencies are designed to circumvent the banking system, banks will need to come up with ways to protect themselves, writes Ely Pinto, chief information security officer at Bank Leumi.

Since blockchain technology is based on the core principle of decentralization, it provides an opportunity to break through the multiple middleman fees with an alternative low-fee digital payments network, writes Sarthak Moghe, CEO of TillBilly.

Though Costco is no longer called out in the New York issuer's earnings calls, the loss of that business added fuel to a change within the company that is showing results.

Beyond offering a buzzworthy new payments app or automating exhausting mortgage applications, for example, traditional payment providers and fintechs need to ensure that their business is resilient against increasingly sophisticated cybercrime and ready for a hyperconnected world, writes Malte Pollman, CEO of Utimaco.