Archive

Peer-to-peer

A network that digitally connects two systems, individuals or entities.

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Paytech

The broad spectrum of technologies powering digital payments, such as mobile wallets and contactless payments.

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Open Finance

The system of making all financial user data, such as credit, insurance, pensions, accessible to customers as well as third parties who intend to build solutions around the data.

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Open Banking

The system of making financial and payments banking data to accessible to customers as well as third parties who intend to build solutions around the data.

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Neobank

A challenger bank that holds an independent banking license and is not affiliated to another licensed bank.

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Near Field Communications

A technology that allows two device to interact with each other when in close proximity. NFC technology is popularly used in contactless payments.

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Minimum Viable Product

That stage in product development, where the product offers just the necessary basic features for early customers.

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Marketplace

A digital platform for buyers and sellers to interact and transact.

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mPOS

A wireless mobile Point of Sale that supports virtual payments on-the-go.

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Multi Factor Authentication

A cybersecurity measure where users are granted access to portals or services after two or more layers of verification. These could be passwords, PINs, biometric factors, or secret codes or questions.

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