Basant Singh of ACI Worldwide shares how crypto and blockchain are revolutionising payments for millions of digital currency owners.
As more consumers start to see crypto as a currency for payments, rather than just an investment, new channels for merchants and governments are opening up. The release of our first edition of Crypto Payments and Web 3.0 For Banks, Merchants, and PSPs Report, provided us the opportunity to learn more about the innovative potential of blockchain technology to build new payment rails.
Basant agrees that crypto has grown to be more than just an investment and will soon be accepted as a mainstream payment method. He also stresses the role of blockchain in bridging the ecommerce space with merchants’ payment processing needs and governments in helping the population.
In the interview, Basant also highlighted the benefits of adopting crypto payments, such as eliminating the risk of fraud and chargebacks and eliminating the need to worry about FX rates for cross-border payments. He also discussed CBDCs (Central Bank Digital Currencies) and how governments around the world are exploring their use. He noted that different regions have different adoption rates of digital currencies and that governments are now coming up with their digital currencies. Some examples include India, China, and the US, which has signed an executive order but is not yet ready to launch a CBDC.
Overall, the report and video interview with Basant provide valuable insights into the innovative potential of blockchain and crypto in the ecommerce space. It maps out the relevant players in the field and includes an industry survey that aims to measure the appetite and adoption rate of crypto payments for banks, merchants, and PSPs. Don't miss out on this opportunity to gain a deeper understanding of the potential of crypto and blockchain in the ecommerce industry.
About Basant Singh
Basant Singh is a highly experienced payments industry executive with more than 20 years of experience spanning payments, fintech, and consulting services. He leads ACI Worldwide’s Merchant and Payments Intelligence solutions portfolio, which encompasses a Payment Orchestration Platform to offer ecommerce, omnichannel payments, merchant fraud, and Alternative Payments. He has global business experience with merchant acquiring spanning direct and indirect channels, financial institution alliances, customer segments, and verticals.
About ACI Worldwide
ACI Worldwide delivers the software and solutions that power the global economy. Our mission-critical real-time payment solutions enable corporations to process and manage digital payments, power Omni-commerce payments, present, and process bill payments, and manage fraud and risk.
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