Payments: The Next Frontier - Istvan Molnar, Godfrey Kutumela, Victor Romero, Ed Cable
Channel: The ASF
Date: 12/10/2021

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Replicated A presentation from ApacheCon@Home 2021
https://apachecon.com/acah2021

A new frontier for payments is on the horizon with the continued widespread adoption of national real-time payment systems, the acceptance of global standards like ISO 20022, the emergence of open banking APIs for third party payment initiation, and the continued growth of mobile money. The Payment Hub EE - the open source bridge and microservices orchestration layer Mifos is building to seamlessly enable accounts and wallets managed on Fineract to initiate transactions over modern real-time payment rails via mobile channels and Open APIs, is equipping institutions with modern enterprise-grade architecture to harness these emerging trends around payments. This session will explore the emerging trends and standards around payments, a showcase of the Payment Hub EE and its roadmap in shaping our long-term vision to enable the sector to go beyond payments, remittances, and transfers to the next frontier of meaningful, valude-added payments - for-purpose remittances, interoperable cross-border transfers, split payments to multiple parties, merchant/billpayer requests to pay, rich invoices, and more.