Payment Picks: A Week of Developments in the World of Payment and Ecommerce Platforms

A number of developments in the Payments space have taken shape as technology directs the future of the sector. SmartTrade recently announced an update to its Order Management System (OMS). The new update will give clients the ability to optimize their trading flow to handle orders more efficiently across multiple desks.

Payment gateway provider, Telr, merged with Innovative Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term. The Merger Merger A merger is defined as the absorption of the interest of another. It can include an estate, or contract. There are no specific rules or formats for a union in general. It is a method of combining two or more organizations, business concerns, or other related interests. The terms of a merger are usually by agreement of the parties involved. In the financial sphere, merger refers to an agreement between two or more companies or corporations, public and private, to merge into one entity. Mergers d A merger is defined as the absorption of the interest of another. It can include an estate, or contract. There are no specific rules or formats for a union in general. It is a method of combining two or more organizations, business concerns, or other related interests. The terms of a merger are usually by agreement of the parties involved. In the financial sphere, merger refers to an agreement between two or more companies or corporations, public and private, to merge into one entity. Mergers d Read this Term will help both firms extend their hold in the Middle East and North African (MENA) markets. Both markets are seeing fast growth in online payment adoption.

In India, megapopular eCommerce marketplace platform FliPkart shut the lights on its online payment gateway PayZippy. PayZippy was unveiled in December 2013 and failed to perform as FlipKart had intended.

Chinese technology and eCommerce giant, Alibaba, unveiled it will begin supporting biometric fingerprint scanners on smartphones to help authorize payments through its payment platform, AliPay. Alibaba partnered with smartphone manufacturer Huawei, similar to PayPal’s partnership with Samsung with the release of the Galaxy S5.

SmartTrade Updates Its Order Management System

Multi-national financial software development firm, SmartTrade, this week announced a new update for its Order Management System (OMS), including increased adoption in Europe, the Americas and Asia-Pacific.

SmartTrade’s OMS provide clients with the ability to optimize their trading flow to handle client orders more efficiently across multiple desks, internalize client flows and improve proprietary hedging strategies. SmartTrade’s OMS can be utilized by all desks in the trading chain, making sure all team members can service their client’s orders quickly, efficiently and from any place in the world.

You can read the full article HERE

Telr Merges with Innovate Payments to Take on MENA Region

Multi-lingual and multi-currency SME payment gateway, Telr, announced it will be merging its operations with Innovative Payments to increase its presence in the MENA region.

The main premise behind the merger is to let Telr revolutionize payment placement in the Middle East, North Africa and Southeast Asia.

Telr also announced its future plans, consequential to the merger. The payment firm plans to boost its credentials significantly as a result of merging with Innovative Payments. Telr also plans to strengthen its offerings for both online and mobile payments via its three pillar payment gateways, unified logistics and payment APIs alongside cash management solutions.

You can read the full article HERE

FlipKart Shuts down PayZippy PSP

In an interesting move, Indian eCommerce firm, FlipKart, has decided to close down its payment gateway service PayZippy.

The move is as a result of poor performance which didn't meet FlipKart’s expectations. The payment solution was first unveiled to merchants in July 2013 as Flipkart Payment Gateway Services (FPGS) Pvt Ltd. In December it was re-launched and re-branded as PayZippy to distance itself from the FlipKart moniker on other merchants’ websites.

You can read the full article HERE

Alibaba Goes Biometric with Fingerprint ID Support for AliPay

While Chinese Ecommerce giant Alibaba prepares for what some believe to be the biggest IPO in history, the company is not slowing down on innovations.

The newest innovation from Jack Ma’s Alibaba links to its highly successful Ewallet AliPay. Following the path made available by firms such as PayPal, AliPay will now incorporate biometric fingerprint scanner support to verify a specific customer rather than entering a password.

Similarly to the way PayPal partnered with Samsung for biometric support for the Galaxy S5, AliPay partnered with local Chinese smartphone manufacturer Huawei. Huawei’s new Mate 7 smartphone, like many other newly-released models, incorporates a fingerprint ID scanner for security purposes. The phone is slated for launch this week.

You can read the full article HERE