Shedding a light on the world of a developer

Today, most of us would find it hard to go an extended period of time without interacting with technology of some description. And who could blame us when we have apps that let us control the temperature of our homes and cameras that connect us with every corner of the world?

Technology today is designed to make our lives easier but it also helps to make sure that the environmental footprint that we leave behind is a little bit smaller. It’s wonderful to know that we’re able to create something completely new that makes a positive difference to the people, and world, around us.

And that’s usually where we stop thinking. We use the tech, enjoy how easy it makes our lives and occasionally even take a moment to marvel at its benefits, but how many of us can honestly say that we’ve taken the time to stop and think about where that technology came from?

Dalia Daud is a Full Stack Developer for Jewel Paymentech, a business with a mission to continuously develop software that ensures the security of banks and electronic payments. It’s the creative minds of people like Dalia that find new and innovative ways to revolutionise merchant risk management – because, let’s face it, none of us want to ditch electronic payments and go back to carrying cash.

We spoke to Dalia to find out more about her work, and understand what attracted her to the developer world in the first place.

Developers are the geniuses behind our favourite computer programmes and operating systems – designing them to make our lives easier and more efficient.
Developer’s, such as Dalia, work to identify the crux of a problem, designing solutions and dictating how it should look and feel for the end user.

Not only are software developers responsible for outlining and creating the code and design for a program, but they also require excellent collaboration skills. Contrary to what’s commonly assumed, Dalia informed us that developers actually spend a lot of time teaming up with their peers and other programmers in order to create the best end solution possible.

What about the developer world appealed to you?
The ability to create something out of nothing, especially to the benefit of others, absolutely fascinates me! Researching and learning about a problem helps to ensure that the solutions we develop are the right solutions.

What’s the most important lesson you’ve learnt so far in your career?

It took me time to learn and accept that with every individual success comes a strain of failures. In order to achieve that final success, you need to learn from all the failures, uncover the whys and learn the best way to move forward. You need to be able to accept and expect this; otherwise, you’ll find yourself stuck in the mud.

What advice would you give a fellow developer at the start of their career?
If you’re passionate about continuously learning and developing creative solutions to solve real-world problems, then give it your all! It’s not going to be easy, especially at the start, but it will be worth it.

Developers never stay still and are always evolving, moving towards the next big thing. For Dalia and thousands like her, it’s a creative playground that creates opportunities to make a difference to our lives.

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13 Dec / 2017

The untold story of ePayments: opportunities for merchant banks

When it comes to ePayment penetration, it’s easy to believe that China is well ahead of every other country in Asia. A high volume of mobile payments, puts China well ahead of Japan, where cash makes up 80% of consumer spend.

However, a closer look reveals that this is only true if we consider account retail (B2C) and consumer (C2C) spending, which is actually only a small segment of the payment value chain.

Seeing the bigger picture: Cash share in Asia Pacific

The latest Global Cash Index™ by PYMNTS.com, reveals things aren’t quite as they seem. In reality, Japan spends only 4.2% of their entire GDP in cash. The same figure for China is an enormous eight times higher at 33.9%.

Cash is still king in China.

To understand this counterintuitive statistic, we need to analyse the entire payment value chain. As an example, let’s take a look at how fresh produce move from the farm to the consumer’s shopping basket in both countries.

We can see that China’s high mobile payment volume takes place largely in the final stage of the transaction value chain, where consumers purchase goods from retailers (52% of WeChat users conduct less than 20% of their monthly transactions in cash1). This means China has a huge opportunity to support and drive ePayment penetration for the rest of the value chain, before the retailer-consumer segment.

A look at the same value chain for Japan shows the complete opposite.

Here, the final stage is the only one in which we see cash spend. The good news for Japan is that enabling ePayments for consumers is a little more straightforward in comparison to the rest of the value chain. For these parties, banks need to build capacity, expand acceptance points and push for low-cost acceptance solutions such as mobile payments.

Supporting ePayments across the entire payment value chain

This analysis shows just how important it is to consider the entire payment value chain when looking at ePayment penetration. Though transactions between consumers and retailers are very significant, they represent only a portion of total exchange and transfer of money in trade. There is still a huge opportunity for banks and payment networks to electronify the payments value chain. Identifying who are the merchants of tomorrow is the first step to unlock these new opportunities.

Banks will need to re-examine and calibrate their overarching payment strategies, build the necessary capacity and infrastructure, and be willingly to disrupt themselves or risk being disrupted by technology companies.

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06 Nov / 2017

Preparing for the merchants of tomorrow


Tomorrow’s merchants may not be who you think they are. As the face of commerce continues to evolve from physical to virtual, the reality of what constitutes a ‘merchant’ is changing every day.

As apps and wearables replace traditional payment mechanisms, anybody with a bank account and a smart device can become a merchant, so a sharp increase in the overall number of operating merchants is inevitable.

If you’re a merchant acquirer, this means you’re likely to see a significant rise in your merchant applications and therefore, the size of your portfolio. To put this potential growth into perspective, if you’re usually accustomed to 500 applications and a portfolio of 10,000 merchants, you could soon be looking at as many as 25,000 applications and a portfolio size of one or two million.

Of course, incredible growth can bring with it some very nice benefits, but with so many merchants to manage, you’re also faced with a much greater exposure to risk. Simply maintaining the same tools, processes and personnel that currently protect your portfolio may not be enough to withstand the rapid increase in merchant volume.

So how can you protect your business and reap the rewards?

Equipping the right tools

For many acquirers, risk management solutions are only given serious consideration after fraud and regulatory action have occurred. In the worst cases, these acquirers have already suffered damages, making the financial and operational impact of implementing a fraud combat strategy extremely inconvenient.

By implementing a holistic merchant solution before fraud strikes, you can avoid this difficult situation, drastically reduce the chances of fraud occurrence and greatly mitigate its effects. Not only is this a smart, preventative measure, but with a more secure portfolio of merchants, you will also enjoy a significant lift to both margins and ROI.

By investing in risk management early, you can expect to:

Reduce the cost of merchant on-boarding 
With the right tools, you can streamline on-boarding checks for certain merchant categories, on the basis that the appropriate limits or ongoing monitoring checks are in place. 

Expand your merchant base
You will have the confidence to take on merchants with new and innovative business models, knowing that you have the oversight and control required to do so safely.

Be in control of your risk exposure 
Continuous monitoring of merchants’ web, social media and transactional behavior ensures that you’re quickly alerted of any changes to a merchant’s risk level. It allows for prompt implementation of mitigating action and protection from financial loss. 

Increase profitability of merchant base
 
Monitor merchant behavior post on-boarding and gradually increase transaction limits if no high risk flags are detected. Limits can be managed at a merchant, outlet or terminal level, allowing for differentiated limits depending on location or type. Seasonal limit increases can also be applied to accounts for spikes in holiday season sales.

To fully prepare for the merchants of tomorrow, acquirers must strongly consider how to manage an increased exposure to risk. By implementing an effective fraud combat solution early, you can enjoy the benefits of a large merchant portfolio whilst feeling confident that your business is protected.

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09 Oct / 2017

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