1. THE 10 MOST PROMISING
PAYMENT AND CARD
SOLUTION PROVIDERS
SEPTEMBER 2020
+
REDEFINING THE BENCHMARKS OF
ONLINE AND MOBILE PAYMENT
Leaders Viewpoint
Tech Trends in the
Financial Sector
Tech Insights
Emerging Technology
and Business Environment
Robust Networks
Accelerator for
digital transformation

4. The Future of Digital Payments
st
he US has always been the 1 mover in most services and products.
TFrom the me the con nent came on its own, its being a mecca for
unabashed spending meant that anything new was accepted with open
arms here. In most cases, the “new” did mean something that brought added
value and saved me, money and made life easy for its users.
Something similar is the case with payments or for that ma er the en re
banking industry in general. What was ll yesterday the preserve of big banks
with huge office on important streets-corners, is slowly tricking down to
en es in varied domains including telecom, fintech and pure Informa on
technology. What gives the la er an edge over tradi onal banks and financial
intermediaries is the use of advance so ware whose feature keeps changing
faster than the blink of an eye.
Digi za on and the internet have been loyal servants in this drive. If you think
you have seen all there is in the domain of digital payments, you could be
very, very mistaken. Because in a short while (as short as 6 months), changes
are expected in this field which today may seem very, very far-fetched.
Social media suppor ng payment gateways
If you can discuss your most in mate of details on social media, why not
transact business which includes sending and receiving money? Novelty
besides, it helps buyers get what they want right where they are without the
need to wait and browse. Gen Z being prolific smartphone and tech users,
this is one service whose usage can be expected to grow poten ally in the
days to come. Services such as PayPal, Venmo, Snapcash, Google Wallet,
Apple Pay, and Twi er Buy are of great help when transac ng business on
social media with user’s interests remaining quite secure.
Unified apps for all money-related ma ers be it banking, money transfer,
credit-cards, or loans
In a way Google Wallet, Apple Pay and Amazon Pay already provide this
service where mul ple banks can be registered on the app for payments and
receipts. In the present these apps help process fairly simple daily
transac ons. In days to come, and with Gen Z’s fixa on with saving on me
and hassles, there is a tread towards unifying all financial transac ons, be it
credit or debit, receipt or payment, loans, mortgages and investment through
a single app. Research shows that a quarter of mobile wallet users think
likewise, and would want their exis ng service provider to help do so. This
though is making banks wary, given that the consumer has more accessed to
the intermediary app-provider than the bank itself. Imagina on, and the right
resources being the only criterion, it will not be long before another en ty (or
even one from those men oned) just parks an app which does the job of
banks and other financial and investment intermediaries. The consumer
would certainly be KING!
EDITOR’S NOTE

5. Rohit Chaturvedi
Networking even in the payment domain between banks,
intermediaries and fintech companies!
At the start of the millennium, banks wanted to go the whole
way in ge ng clients and retaining them. Tech, connec vity,
data-storage, and security, they did everything. Till they
realized that they could not outpace specialized en es such
as fintech companies, wallets, and the likes when it came to
providing the impact which typically disrupters were good at.
Today they are doing the next best thing! Tying up with the
disrupters to understand and streamline alternate forms of
moving money and sa sfying customer needs. Even as late as
the mid-2000s, most banks were not sure of the outcome of
P2P ini a ves and even tried to build rivals to Paypal. That
was then. Today en es like Zelle has with over two dozen
partners en es providing everything from assistance in
money transfers to knowing balances and do so for over a
thousand banks in the US! Another such alliance is in the
offing. Called the Enterprise Ethereum Alliance, it shall bridge
technology, finance, enterprise, and the government to
support the use of Ethereum, a blockchain pla orm which is
the keel to lay out most smart inviolable smart contracts.
Tokeniza on of important financial details
What if the most important details to accesses one’s financial
assets are not the usual set of numerals and alphabets but a
string like a so ware code which differs from site to site and
situa on to situa on? A hacker could be le dumb fold for the
longest of me! And this precisely is what EMVs are doing
these days and chances are they shall do it in a big way in
some me.
Called Tokeniza on, every financial asset’s accesses keys can
be changed into something like so ware codes which itself
can be changed at will. Using a mix of block-chain and AI, one
is actual iden ty can be kept safe at a distance while le ng
out only tokens to access accounts. While a great idea in itself,
it may just be as confusing and s fling to those with less of
pa ence and knowledge!
Why the change?
Compe on, cost, and convenience.
Free enterprise (albeit controlled by laws!) in banking and
financial transac ons saw compe on bringing in newer and
be er features to garner a bigger slice of the clientele pie. It
included technologies rela ng to digi za on and access to the
net. Technology on its part saw to it that while making things
simple, secure and smooth, costs too would reduce as is the
case with net-based transac ons where the cost of each
transac ons is way lower than that through physical means.
Speaking of convenience, myriad services given to consumers
to ease their pains in banking is today are leading to a
situa on where consumers want more (witness Gen Z which is
perennially stuck to its mobile gadgets!) of the good stuff!
In sum, the domain of digital payments is a very interes ng
one where the services of tomorrow could just be the dreams
of today. Between them, there would always someone with
the right resources to turn a bright idea into an awesome
reality!
This edi on, The 10 Most Promising Payment and Card
Solu on Providers, features Prominent companies that are
making their mark in the FinTech space with their innova ve
solu ons and services.
On the cover of this edi on, we have, PAYMENT ASIA, which is
a leading e- Payment and eCommerce company across Asia,
providing the most secure and innova ve technology for
online and mobile payment solu ons to local and global
businesses. Over the past decade, the company has reformed
its businesses by comprising digital marke ng, eCommerce
consul ng and ar ficial intelligence to suit clients’ business
needs.
Other significant brands that have been featured, include,
2TouchPOS, a state-of-the-art Point of Sale system developed
by Xenios LLC; Na onal Bankcard, a leading provider in credit
and debit card-based payment processing solu ons for
customers across the United States of America; and Payworks,
which provides clients with next genera on PoS payment
gateway exper se and solu ons.
We hope you enjoy reading this edi on as much as we did
while cura ng it for you!
Solution Providers
The 10 Most Promising

6. PAYMENT ASIARedefining the Benchmarks of
Online and Mobile Payment
Tech Insights
Emerging Technology
and Business Environment
Leaders Viewpoint
Tech Trends in the
Financial Sector
CXO
28 36
08
Cover story

7. 2TouchPOS
Transforming Business
Transactions
Payworks
Empowering
Commerce Globally
National Bankcard
Providing Processing
Solutions Effectively
16
24
32
Article
Robust Networks
Accelerator for
digital transformation20
CONTENTS

9. CONTENT
Senior Editor Alan Swann
Executive Editors Rohit Chaturvedi
Alex Spellman
DESIGN
Visualizer Dave Bates
Art & Design Director Sanket Zirpe
Associate Designer Kushagra Gupta
SALES
Senior Sales Manager Kshitij S.
Customer Success Manager Jack Ryan
Sales Executives John, Kane, Irfan
TECHNICAL
Technical Head Aditya K.
Technical Consultant Victor Collins
October, 2020
Copyright © 2020 CIOLOOK, All
rights reserved. The content
and images used in this
magazine should not be
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electronic, mechanical,
photocopying, recording or
otherwise, without prior
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Reprint rights remain solely
with CIOLOOK.
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Abhishaj Sajeev
Editor-in-Chief
sales@ciolook.com
abhishaj@ciolook.com

10. PAYMENT
ASIA
Redefining the Benchmarks
of Online and Mobile
Payment
COVER STORY

11. CoverStory
““Do not position ourselves as just a
service provider with our clients
but a life-time business partner!”
THE TEAM Payment Asia

12. B
ased in Hong Kong, Payment Asia was
established in the year 1999. It is a leading e-
Payment and eCommerce company across Asia,
providing the most secure and innovative technology
for online and mobile payment solutions to local and
global businesses. Over the past decade, the company
has reformed its businesses by comprising digital
marketing, eCommerce consulting and artificial
intelligence to suit clients' business needs.
The company's mission has always been providing
eCommerce and digital advantages to clients. The
vision and roadmap of Payment Asia today will be a key
success to clients in their online and offline business
eco-system. From generating traffic through online
social media and providing a payment gateway, and by
client engagement modules, such traffic is converted
into sales. Payment Asia then follow-ups using data
analytics/big data analytics to create loyalty and re-
target audience in order to magnify the client's
business potential.
Services to Rely On
Payment Asia takes pride in delivering its services to its
clients. It provides clients with the solutions they need
to receive payments and offers them services which will
improve their sales via digital and data-driven
marketing. Payment Asia is dedicated to helping them
achieve their goals by bringing a steady flow of targeted
traffic of individuals whom are converted to leads and
eventually to sales. It also offers them the strategies
and techniques that will attract quality traffic which will
engage a high possibility to convert.
Payment Asia provides omni-channel eCommerce and
e-Payment solutions today to help clients handle not
only local businesses but also international multi-level
transactions. Having been in Hong Kong since early
2000, the company also acts as a bridge to help Asian
clients go international while bringing international
clients to the region.
Payment Asia provides crea ve
and cosy environment to its employees.

13. The company assures that it listens to clients in
order to fulfil their requirements and at the same
time it is being very creative and out of the box to
achieve growth hand in hand with them. Payment
Asia is a unique payment service provider in the
market that truly has its own digital and data-
driven marketing team to work closely with
clients on not just payment processing but also
participation in their sales and marketing.
Embracing Digitization
The company recognizes that COVID-19 has
changed the way of life of people around the
world. Most people are advised to stay home at all
times, and as a result, these people are now being
more active online. Because of the practicing of
social distancing, contactless payments have come
up as a new option for consumers. Merchants
have been encouraging their clients to use
electronic payments because paper money might
help the spread of the virus. When people have
succeeded in trying new ways, it can be expected
that once the pandemic is over, the brand-new
business model will significantly reduce the
demand for 'shop fronts' or 'physical services'. To
face this post-COVID-19 world, digital
transformation is critical.
All the shiny industry awards are reflected
in the high standard of support that
Payment Asia give to their merchants.

14. Making a Difference
In 2019, Payment Asia successfully organized a
marketing campaign at the Hong Kong Book Fair,
tagging along with AlipayHK and the Hong Kong Trade
Development Council. This event was about the
experiential marketing of its brand and services
through promotional events. During the Book Fair, the
company showed how it uses technology to transfer
traditional businesses to something more mobile-
oriented which gives extra value to the clients for their
businesses.
In the past, people sold physical tickets, but now things
are changing, and people prefer e-tickets. Thus, the
company also showed that it is developing e-tickets
that can be used in payment platforms. “This means you
just open the payment app, then click the fill-in button and
buy tickets. After you have purchased a ticket, you will be
sent a coupon or a QR code for safety reasons,” the team of
Payment Asia emphasizes. This service is for the public.
But for the clients, they sign up for the service, and will
be provided with a smart device for further procedures.
In the Fair, the company also showed how customers
can buy a book and pay through the online payment
gateway using the QR code. This avoids the trouble of
carrying liquid cash.
Overcoming the Challenges
To keep up with the challenges of the ever-evolving
payment industry, we have started integration of
artificial intelligence with the form of chat bots to solve
merchant queries real-time. It will allow companies to
address customer queries and concerns in a timely
manner.
With the help of the data technology team, the
company has offered top-notch technology services for
data analytics, chat bots, data segmentation, consumer
behavior analysis and data retention. With the joint use
of analytics techniques and statistics, the company is
Hong Kong Book Fair is an experimental
marke ng event of its brand and services.

15. able to find new opportunities and gain new insights that help in
providing meaningful information for making better business
decisions.
Moreover, the company affirms that it will continue to stand next to
its clients by offering them the one-stop solutions to leverage Data,
Digital, Payment and AI technology into their businesses in order to
emerge stronger and stand taller before the world!
The Team says
The world is changing in a rapid speed today and everyday there are new
startups that will stunt the world! We believe in maintaining strong team
spirit not just within the company but also with our clients as part of the
team; and have always encouraged an “out of the box” thinking while
reminding ourselves on dedication and humbleness.

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18. 2TouchPOS
Transforming Business Transactions
T
he retail market has shown a tremendous growth in the
following decades. This surging rate of growth has
demanded an efficient management system to cater to
various essential requirements. One of these requirements is a
Point of Sale (POS) system which is predominantly used by the
retail industry. The POS system software can handle innumerable
customer based functions such as sales, returns, exchanges,
customer loyalty programs, discounts, etc. This list of easily
operable functions within a POS system which assists in the
efficient management of retail sales has spiked its demand.
To meet this surging demand, Xenios LLC developed 2TouchPOS
for bars, restaurants and nightclubs businesses in the US.
2TouchPOS is more than just a point of sale system. The software
provides a business management framework and is the leading
edge of data capture used for improvement strategies. 2TouchPOS
has both the expertise and resources required to satisfy the
customer requirements.
A Leader’s Ultimatum
Any idea that was ever converted into a business, evidently
Eric Elwell
Founder & CEO
| September 2020 |
16

19. involved the mainspring of an efficient leader. It was
with Eric Elwell the Founder and CEO of Xenios LLC
that the idea for 2TouchPOS Software began. Eric
brought together a dynamic team to influence the
way the restaurant industry handles day to day
operations. A former real estate investor and
mortgage broker, Eric left the housing industry and
became a business consultant in 2002. After calling
on businesses for several months and gaining
extensive training in business process improvement,
he pieced together a commonality between
requirement and provision.
He focused on revolutionizing the business
landscape for restaurant, bar, and nightclub owners.
Eric plans to achieve this feat with a Point of Sale
Technology that can tie transactions to a
comprehensive dashboard providing an improved
method for monetary management and business
visualization. Armed with proven data from actual
results, Eric graphically demonstrates the impact
that this progressive technology can have on the
bottom line.
A Journey through Time
2TouchPOS has been in the market since early 2000,
but Eric decided in 2008 to concentrate solely on
selling this system without the distraction of other
business objectives vying for attention. To
accomplish the goal of becoming the Point of Sale
expert, Elwell asserts “We made a couple of key hires
internally to focus on systemization, and basically what
we realized is that if we don’t get help from the people
writing the software, and listen to the people using the
software, then it will be hard to grow.” With the
acquisition of the company Xenios LLC was created
and the software renamed 2Touch Point of Sale and
the company continues to operate within this
structure. Elwell has taken conceptual writings and
combined them with his own practical experiences to
develop a winning atmosphere for himself, his team
of experts, and the customers he serves. Xenios LLC
has seeded a major transformation in the retail,
hospitality and payments industries through the
course of time.
The Versatile Software
Xenios offers 2TouchPOS Software as a service. The
package not only provides the software but a custom
menu programing and installation services. The
service division offers learning platforms including
remote access training with a technician, live
support, next day Q&A, telephone support and menu
engineering, and YouTube videos of the software’s
user learning management system. The 2TouchPOS
Software Package can provide tested and durable
hardware that includes stationary terminal, tablets,
and payment processing options at tableside.
2TouchPOS is a hybrid cloud installation, i.e., the
data originates on premise and is published on the
cloud. This is a proven secure process for the
customers and their businesses. Through OData
feeds and web services it provides a secure,
automated way to transport transaction data and
reports to accounting, inventory, and payroll
processing systems.
Delivering Control within Simplicity
POS Systems provide transaction data that helps one
to measure progress toward set goals and the
effectiveness of a business, thereby satisfying
customers all the while maintaining profitability.
Choosing 2TouchPOS allows for quick data entry,
comprehensive data reporting and embedded
payment processing. The 2TouchPOS software
configures transactions and report data with the goal
of providing useable data that can be implemented
to enhance profits. Not only does the software
provide a precise tool to capture data through the
software but the customers can control how much of
the software they wish to implement and can decide
how much support they will need to accomplish their
goals. Each configuration is unique and
individualized; wherein the customers are open to
buy only just what they need.
17
| September 2020 |

20. 2TouchPOS offers streamlined data capture and
payment processes that are configured especially for
the hospitality industry, and all this at affordable
pricing. With 2TouchPOS, customers get a business
tool that extends itself from the beginning with data
retention, order processing, through to payment
processing and balancing, to finally using the data to
build the business further. 2TouchPOS is the
software for the present and the future.
The Process of Progress
2TouchPOS comprehends that the most valuable
asset one’s point of sale system creates is
performance data. Gathering sales data explains
business success and shortcomings. “At 2TouchPOS
we believe that collecting your customers’ names and
spending habits, will help you influence customer visits
and spending while on site,” says Eric Elwell.
2TouchPOS is under constant innovation. The
company is updated up to 6 times a year and is highly
customizable in the most complex scenarios. In
addition to these, the flexible API makes working
with custom applications easier. Given the rapid
state of change and ever-increasing security
restrictions in the payment industry 2TouchPOS’s
development focus has continued to center on
payment needs. The software assists in building your
customer network with communication, marketing
and activity information and then collects and works
with customer data. This, in turn, brings about a
radical change in the methods of making payments
and utilization of customer data.
The Future Holds Evolution
2TouchPOS’s mission is to design, build, to perfect,
and deploy operating systems that get tangible
results for the customers. The company envisions a
franchised network of Point of Sale specialists that
helps get the revenue generating product into the
hands of customers, with the highest standards of
reliability and quality as affordably as possible.
2TouchPOS will also continue to focus on the
peculiarities of the hospitality market. The small
distinctions of how a restaurant operates and the
nuances that require specialized development would
also be in focus. To assist need of the customers, to
be able to rapidly adapt to changing customer
desires and have methods to manage business
processes will be one of the future goals. Staying
focused on becoming more flexible, increasing
customer controls and 2TouchPOS aims at creating
additional tools and revising the existing ones to
keep up with the demands of advancing
technologies. With the automated tools continuing
to evolve, 2TouchPOS will continue to update and
enhance alongside.
“Transforming payments
with 2TouchPOS.”
| September 2020 |
18

22. AcceleratorAccelerator
for Digitalfor Digital
ransformationransformation
Accelerator
for Digital
ransformation
| September 2020 |
20

23. It’s not anymore a mystery how the
evolution of technological era has
taken place. Technology has
revolutionized the perspective of the
global population. The imprints of
technological advancements can be
seen in almost every sector. For
example, blockchain technology is
creating a digital record that verifies
any transaction at a certain time and
sequence, and AI is enabling new ways
to interact with consumers via chatbots
and artificial personal assistants.
The use of internet has brought people
from the different corners of the world
closer than before, and computers have
simplified data-processing, analyzing
the organization, and communication
for individuals as well as businesses.
The one thing that keeps everything
connected is Network.
Be it accessing the internet,
downloading a file, printing documents
or emailing an urgent presentation, a
sound network infrastructure is
required. Networking Solutions have
become a requirement of almost every
individual and more importantly,
businesses.
In today’s business world, companies
are adopting e-commerce module to
reach out to the customers globally and
making their shopping experiences
simpler. In order to ensure the smooth
running of such business modules, a
suitable networking infrastructure is
vital as it provides speed, connectivity,
and ultimately value to the users as
well as businesses, making it a win-
win situation for both the parties. We
can safely put that comprehensive
networked systems are at the very heart
of e-commerce.
It has become crucial for businesses,
irrespective of sizes, to have a robust
network infrastructure as it is also
counted as an essential component to
enhance the agility and productivity of
organizations. Network Infrastructure,
if developed effectively, enables
businesses to maximize productivity,
reduce operational costs, and manage
complex consolidations. Moreover,
managed network services help
businesses run the applications that
fuel their day-to-day business, enhance
their communication and sharing tools,
and improves business flexibility and
agility.
Addressing Current Crisis
If we consider the current pandemic
situation, it has changed the way
businesses operate and communicate.
COVID-19 has enforced businesses to
operate remotely. Employees working
from multiple locations resulted in a
need to inculcate integrated network
monitoring solutions, as staying
securely connected became a
challenge. The chances of security
risks and inherent physical limits like
latency and bandwidth, which would
hamper speed, seemed to occur for
businesses.
Companies with sound network
monitoring solutions were successfully
able to fight against the business effects
of COVID-19. Adopting a network
monitoring solution can assist
companies in ensuring the smooth
running of business networks and
processes.It became evident that how
secured network solutions can be
resourceful in a crisis like situations. In
fact, the research suggests that
industrial networking solutions market
size is expected to grow to USD 23.84
Billion by 2022, at a Compound
Annual Growth Rate (CAGR) of
21.0% during the forecast period
(2017–2022).
Security is Still a Concern
Networking along with value-added
features also increases the chances of
Robust Networks
21
| September 2020 |

24. cyber threats, which can make the
company’s private data and emails
vulnerable. Data being the core aspect
of business requires high security.
Businesses have immensely become
dependent on computers and cloud
technology to control large money
transfers, store data, or communicate
with the communities. They cannot
afford any kind of security breach.
Thus, network security is a vital aspect
of businesses nowadays.
Regardless of size, industry or nature
of businesses, every organization can
be a victim of cybercrime and thus,
require a degree of network security
solutions. Past instances of large-scale
businesses, who admitted a loss of
their sensitive data due to an internal or
external security threat, exemplify why
network security is of utmost
importance. They had to pay a huge
amount to recover from a security
breach.
Digitization has brought a drastic
transformation in human lives as well
as in the corporate world. Every
business that aims at delivering
products or services as per consumers’
demand must keep their network
infrastructure secured, to earn the trust
of their customers. Network Security
not only protects them from
cyberattacks or threats, but it also
protects the reputation of businesses.
Some common security threats active
on the Internet are: Viruses, worms,
and Trojan horses, Spyware and
adware, Hacker attacks, Zero-day
attacks, also called zero-hour attacks,
denial of service attacks, data
interception, and theft, and identity
theft. Network security is available in
the form of firewall protection, email
security, anti-virus and anti-malware
software, network segmentation,
access control, application security,
behavioural analytics, data loss
prevention, mobile device security,
security information and event
management, VPN, Web Security,
Wireless Security, etc.
Upcoming Trends Shaping the
Future of Networking
• Wi-Fi 6
The upcoming development in the field
of wireless connectivity is Wi-Fi 6. It is
anticipated to change the face of
networking solutions in the coming
years by increasing the device density
that can independently coexist in a
single space without impacting the
speed on a single device.
• 5G
It is the most awaited high-speed
networking technology that would be
providing blazing fast internet speed.
5G will be competitive in terms of
performance, speed and latency with
wired connections currently.
• Digitized Spaces
An intersection of IoT, sensors, mobile
networks, and digitized spaces will
make companies data-smart and derive
deep customer and business insights by
strengthening the networking solutions
ecosystem for enterprise uses.
• SD-WAN
SD-WAN is a framework that will be
agiler, more robust and enable
organizations to route a huge amount
of network traffic based on centralized
roles and rules, promoting high-end
data security.
These trends are truly shaping the
future of networking technology and
are optimizing network performance
for modern businesses. Harnessing the
latest in the field of networking
solutions, many network solution
providers are developing integrated
solutions to deal with the challenges
businesses are facing.
Future is Promising
With the above mentioned upcoming
trends, one can safely assert that the
future of networking solution is set to
be revolutionized. It doesn’t come as a
surprise how new and emerging
technologies have always driven
networking best practices and will
continue to do so. For example, it is
believed by many tech experts that a
combination of machine learning and
artificial intelligence will aid network
managers to create next-generation
networking solutions to achieve high-
end security and optimize network
performance.
To wrap it up, every size of business
would require robust and secured
network infrastructure to boost the
performance of employees,
productivity, and scalability. The
current pandemic crisis has highlighted
the need for integrated network
solutions and how it can ensure the
smooth running of businesses. Many
network solution providers are walking
an extra mile to come up with topnotch
network security solutions to address
the need of the small, medium as well
as large scale enterprises. The pace at
which the advancement in networking
technology is growing with other
evolving technologies and the future of
networking solutions from here looks
promising.
| September 2020 |
22

26. National
BankcardProviding Processing Solutions Effectively
Jon Monge
CEO
| September 2020 |
24

27. W
ith the growing usage of the internet and
plastic money the demand of debit and
credit card-based payment systems are
increasing every day. So, enters National Bankcard, a
leading provider in credit and debit card-based
payment processing solutions for customers across
the United States of America. The organization takes
great pride on itself on having the lowest processing
rates backed by its award-winning customer service.
Thanks to its customer service, National Bankcard
has achieved one of the highest merchant retention
rates in the industry because it is dedicated to
ongoing account support. Its highly trained customer
service team educates merchants, so as to make
informed decisions about payment processing
solutions with no hidden charges. National Bankcard
has created a transparent sales model based on
honesty.
Also, the organization’s low processing fee helps
merchants focus on what they do best –run their
businesses. Additionally, National Bankcard’s “no
cancellation fee” policy reinforces its commitment of
providing the best ongoing support to merchants.
National Bankcard makes the process of accepting
payments easy, secure, and cost effective. It protects
the merchants with a chargeback and fraud
department that provides the highest level of
security.
The Undisputed Leader
Jon Monge the CEO of National Bankcard started
the organization in 2005, and for the first 2 years he
was the only employee of National Bankcard, doing
everything, from sales, to customer services, tech
support, programming terminals, designing the
needed web pages and marketing materials.
However, Jon enjoyed managing every part of the
business as it was a full education on how to start an
ISO from the ground up. Nowadays, a team of 20
plus admins and sales representatives help share the
work flow. Jon was able to teach them how to run an
efficient business from the first-hand experience
from those first two years.
Committed to Provide Best Support to the
Merchants
National Bankcard never charges a setup fee, it also
provides a free EMV credit card machine or a free
mobile card reader or both. The organization also
offers free shipping with all equipment orders and
free training to show how to use the new device.
When it comes to cancellation fees, National
Bankcard never charges one. The organization’s “no
cancellation fee” policy reinforces its commitment to
provide the best ongoing support to merchants. If
any one of the clients ever need to close his
respective account, one simple call will let him close
the same in the same day itself. Hence, there are no
risks trying out National Bankcard.
That’s not all, setting up National Bankcard is a very
quick and easy affair. The organization has a simple
one-page electronic application that can be filled out
for the client by National Bankcard. The organization
can then text or email the application and the client
can sign it with his mouse or finger depending on the
device he is using. The application takes about five
minutes to fill out most. On an average the
application can be approved within 1-4 hours after
submitting; once the application gets approved
National Bankcard ships the free credit card machine
or the card reader with free shipping.
Entering the Segment as a Unique Organization
The Payment and Card Solution Providers segment
badly needed a new player in the marketplace, which
would offer better customer service at lower costs.
Before the entry of National Bankcard, most of the
merchants used to pay too much in processing and
on their equipment costs. Using the internet to
market to merchants proved to be a more efficient
model that enabled National Bankcard to offer a
better service at a lower pricing.
Upon receiving the equipment from National
Bankcard, the respective account manager will call
the client to train on how to use the new terminal, or
25
| September 2020 |

28. mobile card reader, or Virtual
terminal, or Clover POS. This is a
very important step and something
that many of National Bankcard’s
competitors neglect. The
organization helps its clients
through setting up their equipment
and runs them through a test
transaction. National Bankcard also
goes over on how to view the
account activity online in their
merchant portal. If a client has
purchased a Clover POS, National
Bankcard walks him through
uploading his inventory into the
system and trains him on how to use
it from A-Z.
One of the Most Exciting Business
Sectors
According to National Bankcard, the
payment industry is one of the most
exciting business sector to be a part
of. There are new products coming
to market each year that help
businesses run their operation more
smoothly. The organization is always
looking to resell these innovative
products to its merchants’, so that
they have the best for their
businesses.
When it comes to the future,
National Bankcard is planning to
build out the country’s best
customer service team and continue
to sell the best technology in the
payment’s industry.
By lowering credit card
processing costs and
streamlining the payment
process, our merchants
stay with National Bankcard
year-after-year.
| September 2020 |
26

30. Emerging Technology
and Business
Environment
| October 2020 |
42

31. nnovation is a wild beast, which needs taming and
Iflexibility. It requires partnerships and combinations
of emerging technologies to start with and the
injection of new blood too. Innovation is about spotting
the ability to embrace best-of-breed emerging
technologies implemented in one industry and
transposing them to another sector with far greater
benefits. Financial institutions are copying other
financial institutions, retailers from other retailers, etc.
This overused practice of benchmarking and business
process reengineering (BPR) has stifled innovation in
many businesses across the world. Today, with this new
industrial revolution, everything is fast. Information is
available, and you can process it and predict the future.
There are no boundaries in the digital era, and every
day someone is pushing the envelope. For example, it
might be stuff people take from the telecom industry,
and you adapt for utilities, or from the financial market
to the health industry.
Options suitable for one business may not be suitable
for another. Entrepreneurs have an incredible amount
of decisions to make, and they have to make decisions
that work for them.
Setting Strategy:
Many entrepreneurs begin their businesses to take
advantage of temporary opportunities without thinking
about a long-lasting strategy. However, successful
entrepreneurs will soon shift from planned to strategic
coordination so that they can start to create critical
resources and opportunities.
Expressing a sound strategy is more important to a
fledgling company than dealing with hiring, establishing
accountability relationships, developing control
systems, or describing the role of the founder.
Enterprises based on best strategy can survive poor
leadership and confusion, but organizational structures
and complex control systems can't compensate for
unreasonable strategy.
An entrepreneur who needs to construct a sustainable
company must express a clearer and bolder strategy.
The strategy should merge the entrepreneur's
ambitions with a particular long-lasting policy
regarding the requirements that the company will
serve, technological experiences, it's geographic reach,
and other strategic concerns. To support attract
resources and people, the strategy must reflect the
vision of the entrepreneur of where the business is
directing, not where it is. The strategy should also offer
the basis for decisions making and defining the policy
that will lead the company to this.
To be beneficial, strategic statements must be
understandable and concise for main stakeholders,
such as investors, customers, and employees. They
should also discourage investments and activities that,
while appearing to be attractive, would drain the
corporation's resources. A strategy that is formulated
so broadly that it allows a corporation to do anything is
equivalent to no strategy at all. For example, requesting
to be in the entertainment and leisure business doesn't
prevent a tentmaker from making films or running
casinos. Describing a business as a high-achievement
outdoor equipment company offers much more useful
goals.
No amount of hard work can transfer a kitten into a
lion. When a new venture fails, entrepreneurs have to
tackle major economic crises. For example, many
persons are involved in personal business matters, such
as tax and laundry preparation services, because people
can only start and run this corporate through hard
work. They do not need to worry about raising large
capital, developing proprietary technologies, or facing
large competitors. However, the aspects that make it
easier for entrepreneurs to start such a business often
stop them from achieving their long-term objectives.
Companies based on an entrepreneurial enthusiasm to
work hard usually face other equally strong-minded
competitors. Also, it is hard to make these businesses
large enough to help infrastructure and employees.
Besides, if personnel can do what the organizer does,
they have little reason to remain in the business.
Originators of these businesses often can't live the
lifestyle they wish, no matter how much capable
they're. Unable to use their skills, they can only eat
what they kill.
However, strategies for capturing the hill will not
necessarily keep it. A model established on one or two
strong points becomes obsolete because success
breeds imitation. For example, competitors can easily
eliminate the innovative product of an entrepreneur.
However, it will be much more challenging for them to
reproduce systems that include many additional and
different features. It is not easy to copy business with
an attractive product line, close relationships with
distributors, well-integrated logistics and
| October 2020 |
43

32. About the Author
Dr. Raheela Al Karim owns and
runs multiple businesses
including Plush Event Planning,
Plush Multimedia, Shahi Banquets,
Shahi Nihari & Chopsticks, and not
for profit organization Al Karim
Foundation. As a transformational
leader she always finds the
balance between business
foresight, performance, and
character. She has vision,
courage, integrity, humility and
focus along with the ability to
plan strategically and catalyze
cooperation amongst her
company team.
manufacturing, a culture of customer responsiveness, and the ability
to generate a continuous stream of innovation.
The tough infrastructure that an entrepreneurial company needs
depends on its strategy and goals. Some entrepreneurs want to create
geographically distributed companies, gain first-mover benefits
through fast development, understand interactions through resource
sharing between business units, and finally go public. They have to
invest more in the infrastructure of an organization than their
corresponding item, who want to build simple enterprises with a
cautious pace and a single territory.
Entrepreneurs, with their strong action bias, often prevent thinking
about the large crisis related to strategies, opportunities, and goals.
Eventually, they must deliberately structure this exploration of their
lives and their companies. Sustained success needs entrepreneurs to
keep questioning tough queries about where they need to go and
whether the path they are going will lead them there.
| October 2020 |
44

34. Christian Deger
CEO & Co-founder
“We work with leading payment providers and
innovators at the Point of Sale to deliver
the fastest, simplest and most secure Point
of Sale technology for businesses.”
| September 2020 |
32

35. providers to move away from legacy technology and
this has continued to be a major driver of his
business strategy at Payworks.
Prior to founding Payworks, Christian built
PAYRETO in Southeast Asia. It is one of the leading
BPO companies for payment providers. Christian
attended TU Munich, Georgia Tech and CDTM
Munich. He holds degrees in Business
Administration and Technology Management.
Supporting Growth and Internationalization
Payworks supports its clients’ goals of growth and
internationalization by supplying technology which
is built to simplify rapid business expansion.
Developers simply integrate the powerful Payworks
Pulse SDK into their internal systems. Once this
integration with Payworks is complete, the solution
can be used for global deployment without changing
its original integration.
The technology Payworks has developed supports
both acquirers and payment service providers
working on a global scale, as well as merchants who
need a reliable system on which to conduct
international transactions.
Payworks clients have come to expect faster
technology integration. Through a platform based
fully on API, the company allows for fast and flexible
integration of card readers into any PoS application
and environment, regardless of whether it is
stationary or mobile.
W
ith the ever-increasing use of cards and
online payment systems over past
decades, Point of Sale (PoS) payment
gateways have been garnering a lot of attention. It
was with these developments in mind that Payworks
was founded.
The vision of Payworks is to make card payments
compatible with all Point of Sale solutions through
technology that is simple and easy to use. To make
this vision a reality, the company provides clients
with next generation PoS payment gateway
expertise and solutions.
Using its technology, developers of PoS solutions for
merchants can quickly and cost-efficiently integrate
card payment functionality into their applications,
and securely process EMV, contactless, and mobile
wallet transactions at the point of sale.
With headquarters in Germany and offices in the US,
the UK and Spain, Payworks provides its technology
to leading acquirers and payment providers in North
America, Europe and Africa.
The Accomplished Leader
Christian Deger is the CEO and Co-founder of
Payworks. He is responsible for setting and
implementing the overall strategic plan and direction
of Payworks, while also leading its senior
management team.
He makes critical corporate decisions, and manages
the overall operations and resources of the company.
Christian has focused his career on enabling solution
33
| September 2020 |

36. Since it offers a pre-certified solut
on that includes both software and hardware, the
company’s clients are able to go to market faster.
This can be a matter of days instead of months, as
the case can be with less-advanced solutions.
The company’s next generation payment gateway
technology is operated in the cloud and provided as a
Software as a Service model to payment providers.
With Pulse, developers of Point of Sale solutions are
able to integrate payment acceptance in less than 5
minutes. Additionally, with Pulse, Payworks has
simplified card acceptance by offering a cloud-based,
pre-certified, and easily accessible gateway
technology significantly, facilitating innovation in the
integrated Point of Sale space.
Entering the Segment and the Differentiating
Factor
Payworks saw the need for a modern payment
technology platform to challenge decades-old
systems that should be made obsolete. The company
was inspired by the ability to bring new ideas for
modernizing payment acceptance at the Point of
Sale.
It has brought a new level of innovation into the
market at a time when POS solutions were lacking
the technology needed to keep up with consumer
payment habits.
Payworks has a competitive advantage over other
payment service providers because it is able to
provide technology that does the heavy lifting for its
clients. Payments and the Point of Sale are both
intricate and the clients understand that they can
trust on the company to be the experts they need.
Traditional gateways are locally hosted and
expensive to run. They require specialized
knowledge and merchants typically have to contend
with complex setup structures. Another inherent
problem is their limited ability to integrate card
terminals with PoS systems and support card
present only.
With Payworks, clients can expect a cloud-based and
cost-efficient solution. It doesn’t require specialized
knowledge, supports self-service features, is easy to
use and supports digital onboarding of merchants.
The company’s technology is built for developers,
and this enables quick integration.
Best of all, Payworks enables all payment channels
while promoting global solutions.
Painting the Bright Future
The company is witnessing great progress in the
industry, but believes that there is still lots of room
for growth and further progress. When it comes to
the future, Payworks will continue to promote and
develop modern payment technology at the Point of
Sale.
| September 2020 |
34

38. Ángela Álvarez
Founder & CEO
Aglaia Capital
| September 2020 |
36

39. I
t is said that the growth of human beings is at its
highest when they face new challenging situations
and go out of their comfort zones. And that is where
we can express our nature better as human beings and
achieve our highest potential. The ability to do so also
defines us as human beings as we are a product of
constant changes and selective evolution.
In the recent few months, a new reality has shaken us
challenging our way of dealing with our day-to-day
world and accelerating many of the technological
evolutions that may have happened in the following
years.
We are living a new industrial revolution shaped by
Emerging Technologies such as artificial intelligence,
inter-connectivity, and digitalization, through a new
generation of financial infrastructure driven by
Distributed Ledger Technologies (DLT)/ Blockchain,
digital assets and digital currencies.
In a world in continual changes with alternative options
moving fast, innovation driven by emerging
technologies has been converted more than ever in the
difference that will make the companies to stay longer
in the corporate world.
TECH TRENDSin the
FINANCIAL
SECTOR- By Ángela Álvarez, Founder & CEO
Aglaia Capital
Evolve every
day embracing
the gift of the
new discoveries.
Dare to follow
your dreams.
“
“
Leaders Viewpoint
37
| September 2020 |

40. Banking system and capital markets
are tied to the emerging
technologies. Financial service is
one of industries where their
adoption will transform mostly of
the tasks and the way that the
industry is conceived. Embracing
them can make a difference for a
selective evolution of institutions, in
an environment of boosting
efficiencies, and scalability, driven
by the consolidation and
reinforcement of the institutions, as
well as improving the consumer
experience, and facilitating financial
inclusion as a fuel for economic
growth, allowing the unbanked
population to participate in the
economy.
Emerging Technologies such as
Artificial Intelligence, Machine
Learning and Distributed Ledger
Technologies/Blockchain will play a
key role in making a sounder and
more efficient financial industry, and
help to improve some of the main
challenges of the global financial
industry such as effective tools to
provide liquidity to the markets, to
increase the speed of processes and
transactions, measure better the
small and medium companies credit
risks, manage more efficiently the
Assets and Liabilities of the
Financial Institutions as well as their
assets under management, or
facilitate the financial inclusion of
the unbanked populations areas.
The key role of emerging
technologies such as
DLT/Blockchain for the evolution of
the world’s financial infrastructure
is considered as an essential
catalyst, making it more efficient,
resilient and reliable, and becoming
the foundation of the next
generation of technologies for the
financial services industry,
particularly in the multi-trillion
value transactional, payments, and
asset management areas. Among
their main benefits, DLT enables
disintermediation and considerable
cost savings, facilitate access to new
markets by automating low value-
added tasks, and provide a
standardised and immutable
method to interconnect financial
institutions, and the trillions market
of financial assets that they have
under management.
DLT are databases set up and
maintained by multiple independent
participants, called nodes. The
nodes record, share and
synchronize transactions in their
respective electronic ledgers, and
synchronously maintain the latest
version of the database. The
participant at each node of the
network can access the recordings
shared across that network and can
own an identical copy of it. Any
changes or additions made to the
ledger are reflected and copied to all
participants in a matter of seconds
or minutes. The database is append-
only and all the new entries are
linked to the previous ones.
Blockchain is one type of a
distributed ledger for which new
entries are stacked in blocks to be
appended. Blockchain is a type of
distributed ledger used by bitcoin.
A distributed ledger solves the
failure issues found in centralised
systems, which is the type of ledger
that most companies use, more
prone to cyber-attacks as they have
a single point of failure. Its
decentralised nature and
cryptographic algorithm make DLT
very robust to any type of
manipulation or cyber-attack. This
makes the data contained within
DLT virtually immutable, being ideal
for organisations which require a
single source of trust shared
between various stakeholders.
Remarkable is the impact of
Emerging technologies on financial
inclusion, improving the access to
finance for unbanked populations
without an access to a bank account.
With the increased penetration of
mobile and Internet, the primary
focus would be to accelerate
technology enabled digital financial
inclusion to capture that non-official
economy. The increasing interest of
the Central Banks on the
development of Central Bank Digital
Currencies (CBDCs) shows the
impact of the new emerging
technologies and Blockchain on the
evolution that the financial sector is
experimenting.
Tied to this current challenging
business environment, lies also a
continuous flow of increasing
opportunities for the expression of
our creativity to solve the
challenges that we are facing, where
emerging technologies as well as
entrepreneurs play a key role to
boost the engine of evolution.
Technology can be linked to Human
Sciences to evolve without losing
humanity. In a new world where
technology will do most of the tasks,
more than ever, creativity,
imagination and passion - human
traits that technology does not
replace, will also make a difference
in the future.
This is a unique opportunity for the
entrepreneurs of our century to
explore, and be the drivers of new
improvements and discoveries on
how create new ways of doing
things with emerging technologies
in order to enhance people’s lives,
and to enrich our society.
| September 2020 |
38