Press Room

Is cloud-nativeness key to global expansion in the payments space?

Is cloud-nativeness key to global expansion in the payments space?Is cloud-nativeness key to global expansion in the payments space?

It’s a topic we’ve covered before, both why PagoNxt has embraced cloud-nativeness and how it’s transforming the payments space. For those of you not as familiar with the concept, cloud-nativeness is a term commonly used in the fintech and payments space to refer to technologies and architecture that is built to run scalable applications in cloud environments. Why is this important for a fintech company like PagoNxt? Well, because there are a variety of possibilities that come from using the cloud-native approach, particularly when it comes to payment capabilities.

As the world becomes increasingly digital this influences the payments space more broadly, accelerating the availability of digital payment methods. Flexibility, scalability, and reliability are rapidly becoming critical for success in the payments space, and the cloud allows PagoNxt to embody these three core principles.

Simply put, the future of payments belongs in the cloud. Here’s why.

Scalability and flexibility:

As the global payment ecosystem grows at pace, adaptability is becoming increasingly important. Cloud-native technology enables this, allowing for companies to rapidly adapt to market changes as and when needed. Without this adaptability, payments companies would be left behind, unable to offer merchants the support they need to serve a fast-growing market. This isn’t just hypothetical; the volume of global digital payments is growing rapidly, and the open platform offered by the cloud is essential to catering to this increased activity. This scalable technology means payment companies can still provide merchants with help as they start to process millions of transactions around the world.

Cloud-nativeness is geographically limitless which enables unserved and underserved communities around the world to be reached. At PagoNxt, we have seen first-hand how this technology can be extended to international markets. We operate on a global scale, offering products and services to merchants across Latin America. This includes our Superdigital service, a mobile platform that is 100% cloud-native and facilitates money management, new economic opportunities, and financial inclusion. Due to the cloud technology, we can connect all countries in the region, enabling easier payment transactions. Cloud-native solutions thus get us closer to achieving our goal of improving the global payment space for good.

Reliability and security:

Security is key when setting up a successful business. No customer wants their personal details held by a company perceived not to value security., especially when it involves a payment provider. The advantage of cloud-nativeness is that data is stored offsite, meaning it can’t be accessed without clearance, and any activity can be traced. Fostering secure transactions is important for global expansion in the payments space, as it will put customers’ minds at ease.

Another way that cloud-nativeness can support with global expansion in the payments space is through automation. Automation eliminates the manual processes and operations associated with payments, meaning greater efficiencies and volume. With cloud-native infrastructure, payments can be processed with little effort from the merchants themselves, further removing friction in payments.

Collaboration and accessibility:

Cloud-nativeness enables successful collaboration amongst global businesses. T through communication and insights from payments data. The cloud facilitates access to real-time data, so a merchant can instantly view every single payment as it occurs. Real-time data is useful for planning purposes and means that payment providers can process payments faster to shorten settlement times, even when processing international payments.

It also aids the integration of new services and features into existing cloud-based systems. Payment processors and gateways that provide cloud-ready solutions can be added to or removed from a company’s systems as needed. This is incredibly useful from a global standpoint, as there is a variety of localised digital payment options available.

For example, cloud-native infrastructure can link EFTPOS (electronic funds transfer at point of sale) systems with other alternative payment services that are popular in that specific geographical region, integrating them seamlessly. This helps the payments industry build a more resilient global network for international transactions.

As you can see, there are many benefits to cloud nativeness. Cloud technology makes smoother payments processes possible by reducing processing times and increasing transaction efficiencies. As we continue to be more reliant on digital payments, PagoNxt aims to lead the payments industry by co adopting and refining new technologies that ensure transactions remain simple, secure, and efficient.

http://www.pagonxtpayments.com/press-room/is-cloud-nativeness-key-to-global-expansion-in-the-payments-space
Is cloud-nativeness key to global expansion in the payments space?

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