The Evolution of Digital Payments - What is Issuing?

Issuing has evolved from a niche concept to a mainstream business strategy. In this article, as we continue to build on our partnership with Adyen, we explore the intricacies of payment issuing, its applications across industries, and the emerging trends shaping its future.

The Shift Towards Digital Wallets and Biometrics

The preference for digital wallets like PayPal, Google Wallet, and Apple Pay is overwhelming, with 93.5% of merchants reporting customer favourability. Additionally, 86% of consumers are keen on using biometrics for identity verification or payments, indicating a shift towards more secure and efficient payment methods.

From retail and healthcare to logistics and education, payment issuing is making inroads into various sectors. It's enabling businesses to streamline operations, enhance customer experience, and adapt to market changes more effectively.

Real-time payments, tokenization, and machine learning in fraud detection are some of the trends shaping the future of payment issuing. These trends are not just buzzwords but are significantly impacting how businesses handle transactions.

Red Badger and Adyen's Unique Contributions

Red Badger and Adyen have carved out a unique space in the digital landscape, each bringing their own set of expertise to the table. Red Badger excels in creating agile digital solutions that solve complex business problems, while Adyen offers a comprehensive payment platform that can handle everything from point-of-sale transactions to e-commerce and mobile payments. Together, we are well-equipped to support a variety of digital products and use cases:

E-commerce Platforms: Red Badger's expertise in user experience design combined with Adyen's payment solutions can create e-commerce platforms that are not only visually appealing but also highly functional. Features like one-click payments and real-time transaction tracking can be seamlessly integrated.

Supply Chain Management: Red Badger develops custom software solutions for supply chain management, where Adyen's payment issuing can streamline payments to suppliers and vendors, making the entire supply chain more efficient.

Travel Booking Systems: Online Travel Retailers can utilise the partnership between Red Badger and Adyen to develop booking systems that handle real-time payment processing for flights, hotels, and other travel-related services. Adyen's global reach ensures that currency conversion and cross-border payments are hassle-free.

Subscription Services: Red Badger designs intuitive interfaces for subscription management, while Adyen can handle the recurring payments, offering features like automated billing and subscription renewals.

Employee Expense Management: Red Badger works with global brands to create user-friendly platforms and digital products that could be used for tracking employee expenses for example, and Adyen can issue corporate cards that integrate with these systems, making expense management a breeze.

By leveraging each other's strengths, Red Badger and Adyen continues to offer end-to-end solutions that not only meet but exceed the expectations of enterprise companies worldwide.

While payment issuing offers numerous advantages like enhanced security and operational efficiency, it also comes with its own set of challenges such as regulatory compliance and data security. However, with the right strategy and technology partner, these challenges can be effectively managed.

The Necessity of Payment Issuing for Competitive Businesses

Payment issuing is no longer an option but a necessity for businesses looking to stay competitive. By understanding its applications, key trends, and the digital products it can support, businesses can make informed decisions that have a lasting impact on their operations and customer satisfaction.