Posted by Taniya Shinghal, Consultant, Oracle Practice, Infosys
Can you imagine a world without credit or debit cards? Electronic payment has given way to a new era of finance services and products that has made purchasing easier for consumers. Today, new technologies such as mobile wallets and phone banking solutions have increased the reach of credit and debit cards, making these instruments indispensible for in-store and online shoppers. The total volume of non-cash transaction payments including cards is expected to be close to 400 billion transactions in the year 2014.
Let us take a look two leading network providers - Visa and MasterCard - to understand their dynamic business journey and how technology can improve their service offerings