This white paper discusses how in-memory computing is helping companies address increasing mobile application usage, real-time data needs, improving the customer experience, fraud prevention, compliance, and other requirements to modernize and accelerate payment solutions.
The shift to digital payments is taking place in many forms: bitcoins, mobile wallets, “tap and go” payment transactions, peer-to-peer money-transfer apps and more. Worldwide, the mobile payments market alone has grown from $235 billion in 2013 to a projected value of almost $800 billion in 2017 and over a trillion dollars by 2019.
This shift to digital payments, however, is not without challenges. To ensure a positive customer experience, service providers must be able to process payment transactions in real-time and ensure the highest levels of reliability. They also need to be able to scale capacity ahead of demand and employ sophisticated analytics to help prevent fraud, ensure regulatory compliance, and identify actionable insights from the data they are collecting.
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