InBusiness Features Powercash21
The digital payments world is constantly changing at great speeds. Affected by advances in technology and the continuous rise of ecommerce, digital payments is the fastest growing sector of fintech and financial services.
Take a look at the video and read Isavella's interview below:
Tell us about your company and your solutions
Powercash21 was established in Cyprus as a regulated payments institution licensed by the Central Bank of Cyprus, in 2013. As acquirers/principal members of Visa and MasterCard, we enable several merchants in the EU to accept credit card payments through their online channels. Through a single integration to our payment gateway, proprietary to the Powerpay21 Fintech Network based in Frankfurt Germany, we support online merchants to accept popular global payment methods through their website. Such methods include Sofortu, iDeal and Unionpay to name just a few.
How has technological development changed payments and what challenges does this bring upon companies? What are the latest trends in digital payments?
The FinTech industry, is extremely dynamic and experiencing explosive growth due to technological innovation across the whole spectrum of doing business online. With the growth in e-commerce, the payments industry is continuously evolving to meet the needs and challenges of online retail. Consumers are becoming increasingly demanding, seeking seamless shopping experiences online, and the check-out and payment process strives to cater to that.
In addition, the increasing popularity of mobile phone is also impacting the payments industry from a technology standpoint: Consumers are more and more utilizing their mobile devices to shop and make payments, whether it is by using mobile payment methods and wallets online or via contactless payments in-store.
With the evolution of e-commerce also come great challenges when it comes to the security of data, or the increasing sophistication of fraudsters executing unauthorized transactions. The payments industry is combating this trend, striving to stay ahead with innovations when it comes to security, such as enhancements to strong customer authentication and using artificial intelligence to deter security breaches.
What products and solutions do you offer for electronic payments?
Powercash21 offers merchants with a diverse portfolio of over 150 global payment methods, whether it is credit cards, mobile payment methods, e-wallets or bank to bank transfers. These methods are offered through our payment gateway, which has embedded a full range of solutions to support the payment function of any e-commerce business. We provide merchants with robust technology that constantly evolves to meet today’s opportunities and challenges of online businesses when it comes to payments.
We offer fast setup times and can activate a merchant account in a matter of 48 hours. With our plug and play integration we help merchants optimize their online shop with customisable widgets built for the most popular e-commerce platforms such as Woocommerce, Magento and Shopify.
Our PCI Level 1 certified payment gateway, enables merchants to accept, process and transmit cardholder data securely through robust, cutting edge technology.
With a team of risk experts and an array of risk and fraud management tools embedded in our gateway, we provide expert fraud protection to tackle the risks that come from fraudulent online transactions.
We also offer advanced merchant business intelligence reporting tools so that merchants can monitor transaction data real-time. Merchants have access to transaction and analysis reports that provide customer behaviour insights, supporting intelligent decision-making and generating business growth strategies.
In terms of settlements, we help merchant better manage their cash flows, allowing them to receive their funds as often as on a daily basis.
Finally, we place great emphasis in supporting our customers. Whether it is an existing customer, a customer new to payments, or an experienced one looking to add or switch payment providers, our team is there to support around the clock.