If sensitive data is left unprotected, it can result in severe consequences for the service provider’s business, including financial fraud, violations of legal regulations, penalties from the regulators, loss of consumer trust, and identity theft etc. By implementing security measures at the hardware level, a payment processing application can become more resilient to attacks. This effectively secures against malicious attempts prior to reaching the actual application layer.
Contemporary technological advancements, specifically the utilization of artificial intelligence, have engendered diverse prospects for financial institutions to initiate modernization and overhaul their provisions. The incorporation of artificial intelligence technology within the banking industry has the potential to transform the traditional banking system into a more efficient, customer-oriented, and cost-effective model.
In today’s rapidly evolving world, the digital landscape is undergoing a profound revolution, driven by the tenacious efforts of the Information Technology (IT) and financial technology (fintech) sectors. Across the globe, and particularly in Africa,
The current approach to payment processing has undergone a significant change mobile wallet has transformed our money from paper cash to digital cash. With the introduction of a range of products offered at the merchant end. Companies offering mobile payment solutions are utilizing the capabilities of adaptable and unsealed systems to create a superior level of engagement between buyers and sellers.