Technical challenges facing e-payment systems include issues with infrastructure, identity management, regulations, and security. Payment infrastructure faces challenges around flexibility, scalability, proprietary standards, and integration costs. Rapid technology changes, network infrastructure costs, and identity theft also pose difficulties. Regulatory environments need to keep up with digital changes and cybercrime. Security requires prompt response to threats, efficient protection, and use of AI. Adopting open standards and approaches can help address these challenges over time.
1. S m a r t . S i m p l e . E f f e c
Technical Challenges Facing
e-Payment
F a d i A L - J a b a l i
T e c h B i z I n n o v a t o r & I n v o i c e Q C o -
F o u n d e r
M a r c h 2 0 2 2
6. Payment Challenges
• Fast paced technology changes :
• NFC and magnetic secure transmission
(MST) technology
• Biometric verification
• Distributed Ledger (blockchain)
• From Cards to Codes
• Smart speaker payments (Voice Activated
Payments)
• Systems Response time
• The need for Open banking API
• The need for open data
Infrastructure
14. How to Improve
Follow international
standards - stop any property
specifications -
More specialized
layers with clear
interfaces
Increase Awareness
Fraud prevention & detection
systems
Follow collaborative
approach
Adopt Open to
extension Close to
modifications
approach
Advanced
technologies
Cloud Payment
Services
15. ePayments Today Value to Business
• Reduced transaction costs.
• Increased payment security.
• Improved guest customer journey.
• More and more payment methods.
• Limits the impact on business disruption .
17. Millennials & Gen-Z Thrive
for More
Buy Now Pay Later
brings more
challenge to e-
payments ecosystem
What is the Value
?
• Better customer experience.
• Increased sales.
• Stronger customer loyalty.
18. Buy Now Pay Later Impact
Why not using credit-cards ?
- More fees
- Lack of credit history
- More hard to get approvals on credit cards
- Late payments can downgrade credit score
20. ePayments Future Predictions
• Distributed ledger technologies will boost the globally
payments network
• Global citizen own biometrically-enabled digital ID
• Drive down financial exclusion
• The social experience will converge with
payments technology
• Realtime cross border payments
21. S m a r t . S i m p l e . E f f e c t i v e
THANK YOU