Tag: payments

The needs for dedicated card machines (or readers) tied to point-of-sale (POS) systems have historically restricted certain micro-merchants from adoption of electronic payments. New advancements in payments technology and standards have led to the development of software point-of-sale (SoftPOS). SoftPOS is a software-based solution that transforms near field communication (NFC)-enabled smartphones into a contactless payment […]

For decades, Financial Services Industry (FSI) organizations have been relying on various messaging standards to send and receive payments. For example, credit card payments leverage ISO 8583, cross-border payments have been relying on ISO 15022, while various depository institutions or market payments operators have developed their own proprietary messaging standards. FSI organizations are adopting an industry-standard […]

The Financial Services Industry (FSI) is in the midst of a significant transformation and given the key role digitization plays, electronic payments are at the epicenter of this transformation. Payments are becoming increasingly cashless, and the industry’s role in fostering inclusion has become a significant priority. Innovation and development of digital economies are supported by […]

Leading eCommerce enterprises prioritize continuous customer experience innovation—from serving up curated and highly personalized product selections to paperless, QR-code-enabled returns. Enterprises are especially focused on the checkout or payment phase of the customer lifecycle, a stage where friction can mean the difference between a sale and an abandoned cart. Stored payment credentials are a powerful […]

Global financial services markets are preparing to kick off the transformational migration to the new messaging standard, ISO20022. The coexistence period defined by SWIFT starts in November 2022. Since the publication of AWS’s guidance for migrating the SWIFT client connectivity stack to cloud, we have seen all sizes of financial services institutions and corporate treasuries […]

Celebrating its 10th year, AWS re:Invent 2021 is gearing up to deliver a week of inspiring content, educational workshops and bootcamps, and plenty of peer-to-peer networking opportunities. This year’s conference will take place in Las Vegas from November 29th through December 3rd, and will have an engaging virtual component for those who cannot join us […]

The last 12 months have heightened our awareness and the phrase “social distancing” has taken on a new meaning when it comes to proximity to people and exposure to objects (i.e. surface sanitation). From contemplating whether we can touch a door knob, to debating whether or not you sanitized your hands after leaving the grocery […]

What if? I used to get lunch from a small café near my old office, and I would get the same sandwich every time I was there. Eventually, the staff behind the counter would recognize me when I got in line. With a subtle nod of confirmation, they’d start making and toasting my sandwich so […]

COVID-19 has upended the way consumers interact with their financial institutions on an unprecedented scale and speed as detailed in the blog post authored by Scott Mullins, Managing Director of Worldwide Financial Services Business & Market Development for AWS, and the payments industry is no exception. The global pandemic has accelerated the growth of digital […]