We did a YouTube video at the beginning of 2018 on the top 12 trends in the Payments domain. We took stock of how we performed.
Before we get into that, here are the trends that we predicted at the beginning of 2018.
Except perhaps the second prediction, we have hit the bull’s eye on every other prediction.
The entire payments world is now talking about open-banking APIs. Digital banks and neo-banks are mushrooming because of the API-driven applications.
Fintech’s are the flavour of every large investor’s portfolio. More and more Fintech’s are coming up in the market addressing every financial requirement of the consumers. They are currently working with large banks as a part of the ecosystem.
UPI and Bharat QR have exceeded expectations in the digital payments space. India has consistently crossed a billion transactions on a monthly basis and are marching towards billion transactions on a daily basis.
Real-time payments have become a reality. From the Kirana (grocery) stores to vegetables vendors, every one of them is accepting digital payments, as they are real-time.
Some of the world’s largest banks are talking about adopting cryptocurrencies in a massive way.
Looking at the way our predictions have performed, I guess we should come up with our predictions on a regular basis.
You can watch the video here.
Addressing the challenges encountered by Financial Institutions (FIs) and Payment Service Providers (PSPs) in ensuring peak API performance, security, and compliance, the blog presents a solution in the form of a comprehensive no-code API test tool.