The big innovation trend we’re seeing at the moment is service integration; moving beyond technologies that are fragmented in terms of their payment capabilities and additional services. This is particularly the case for cross-border payments, whereby businesses should be looking to providers that do more than just facilitate this one element.
Cross-border payment acceptance should be the minimum functionality – particularly when looking to tap into the Asian market.
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Instead, businesses should be looking to technologies that allow customers to complete a transaction inside an app, instead of on a plastic card or NFC touchpoint, thus allowing users to enjoy an augmented experience before, during and after their payment. Further, it’s possible to get geo-localised promotions in real-time, verify the forex rate of a cross-border payment before the transaction, as well as experience a much more seamless end-to-end journey.
Ultimately, this kind of mobile-first strategy will be crucial in creating seamless, and connected experiences for new markets, with the payment serving as just the first touchpoint.
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