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Thierry Meimoun

Digital revolution and innovative technologies Commerce reinvents itself to meet the challenges of the digital age

Today, new technologies and digital revolutions are a key factor for success. They create real opportunities for companies, entrepreneurs and all professionals who want to grow.

In fact, the emergence of artificial intelligence and the blockchain are now offering perspectives that can be both attractive and worrying at the same time. On the one hand, they can improve performance and efficiency in order to differentiate a company from its competitors; on the other hand, they also create anxiety among people and in the world of work.

Since the pandemic, we have been witnesses to the emergence and democratisation of new technologies that have accelerated the transformation of use.

Covid has been both a disaster and the best manager of digital transformation in the enterprise. It has forced consumer behaviour to change, to adapt to ever greater fluidity, security, personalisation and speed.

Those who have seized the opportunity to transform and focused on long-term goals have been able to grow their business significantly.

Artificial intelligence, blockchain, machine learning, cryptology… The latest technologies are at the heart of Paytweak. They ensure the security of all remote bank and PSP transactions.

In the coming years, Artificial Intelligence (AI) will play an important role in improving the world of payments and transaction security.

We can already see the enthusiasm from all over the world for the GPT chat, but we need to understand that this is just the tip of the iceberg.

AI will provide greater security and a better user experience. This includes identifying fraud risks and suspicious behaviour, as well as taking preventative measures to avoid fraudulent transactions.

It can also provide data and trend analysis to better understand how users behave and pay. Finally, it can be used to provide personalised advice and recommendations to help increase conversion rates and optimise the payment experience, while ensuring that security is maintained.

Blockchain is the trust technology that is changing the world, and highlighting the new era of the internet. In fact, it has the potential to revolutionise business, money, government and society.

For the first time in human history, people around the world can trust each other and transact directly. Trust is established not by a large institution, but by collaboration, cryptography and smart codes. Thanks to blockchain, we are entering a radical new evolution in the way we interact and trade, reducing the doubts we have about others in order to exchange value with confidence.

Since 2015, in order to offer an innovative, disruptive and secure payment solution, Paytweak has chosen to use these technologies, the trusted private blockchain. Machine learning to learn from the transactions recorded, especially fraudulent ones, and finally artificial intelligence to select and advise the merchant in accepting payments. The aim is to register each transaction in a perpetual chain by associating it with a profile token. This will create an intelligence base to increase trust but also to combat fraud.

Online payment: the Covid-era solution for businesses.

Businesses have been forced to reinvent themselves as the health crisis and its economic fallout have significantly altered our consumer habits. This has led to an increase in the demand for digital payments and an acceleration in the growth of e-commerce. The lock-in period has thus highlighted the importance of those involved in online payments!

For the payment ecosystem, which has made its activities almost transparent to customers (immediacy, ease of use, security), this difficult period has been full of lessons and challenges.  Moreover, crises are often an opportunity for companies to reorganise their operations and focus on innovation and technology. A blessing in disguise for those willing to seize these opportunities.

With the right strategy and drive, a company in any industry can grow and reach new heights.

Many changes are afoot. The changing regulatory environment, PSD2, increased payment security, 3DS2 migration are all important allies in protecting against fraud, improving the customer experience and reducing costs.

Instant transfer is a secure, paperless solution that fits perfectly with current trends and benefits all stakeholders, including banks, payment service providers, merchants and consumers.

Another trend to keep an eye on is the development of voice commerce. Voice assistants are on the rise and their use is sure to increase with the growing trend for consumers to do their shopping from home. Therefore, a promising market for commerce is the shopping experience that combines voice and secure payment. Paytweak saw this coming back in 2017 with the creation of VoicePay®, a secure voice payment solution initially designed for call centers and now expanding to voice assistants.

The crisis has made it necessary to think about opening up to other sales channels and the creation of new services, while at the same time meeting one imperative: the customer experience.

This requires the introduction of secure and flexible payment solutions in an increasingly omnichannel world. Email, SMS, WhatsApp and even chat payment links have proven invaluable in offering customers services like click-and-deliver, click-and-collect and a secure alternative to telephone orders.

This interactive shopping experience increases customer loyalty and becomes a success factor for all merchants, regardless of size.

Our future is digital

Surrounding yourself with the right partners is key to meeting the challenges of new technologies and seizing the opportunities they offer. Everyone will agree that successfully transforming your business and delivering the best customer experience is one of the best levers to success.

With streamlined, secure and innovative online experiences, you’re ready to meet the challenges of the digital age and transform your business.