Fewer Wallets, More Innovation – The Payments World Is Now in Your Hands, Literally.

As a leading fintech project company in Israel, at Highvalue, we closely experience the evolution of digital payment methods. Payments using wearable devices, such as smart rings, watches, and bracelets, are becoming central tools in financial transactions. The way people pay is changing right before our eyes, and what seemed like science fiction a decade ago is now the new reality.

Why Smart Payment Rings Are the Ultimate Solution?

  1. Maximum Convenience – Zero Effort

While other wearable solutions like watches and bracelets require screen activation or an additional touch, a smart payment ring offers true simplicity – just wave your hand, and the payment is made. No need for daily charging and no risk of losing an expensive device like a smartphone or watch.

 2. Advanced Security and Full Discretion

While using a smart watch might attract attention, payment rings provide a discreet and secure payment experience. The combination of NFC, advanced encryption, and biometric identification prevents fraud and unauthorized use.

   3. Perfect Integration into Everyday Life

Payment rings are not just a technological tool but also a fashion accessory that naturally fits into every setting – business meetings, workouts, travel, and daily shopping. They are convenient and water-resistant, so you can use them with peace of mind.

The Future of Payments – Where Are We Headed?

Smart payment rings offer the perfect combination of convenience, security, and discretion and are expected to become one of the most popular solutions in the digital payments market. As technology improves and we see more collaborations between banks and tech companies, we will be able to use them in more and more places – from payments in stores to access to events and public transportation.

The future is here – and you can be part of it,

Are you already there?

Want to see how it works? For more details about our latest project in the wearable payments field, read here: Click to read the article.

#Wearables #SmartPayments #Innovation #Fintech #DigitalWallets

The thriving fintech industry offers alternatives for financial management outside the traditional banking system • Who are these services suited for, and what needs do they address?

-In collaboration with WeCard-

As a business owner or merchant, you may be asking yourself why you should expand to the highly complex global market. Let’s take a look at the numbers: Cross-border paymentsare expected to reach $290.2 trillion by 2030. B2B transactions have displayed a consistent growth trend, with a gradual increase of $14 trillion from $137 trillion in 2020 to $151 trillion in 2022. According to ARF, The B2C segment has increased by 14%, from 1.4 trillion in 2021 to 1.6 trillion in 2022. 

So here’s your answer: There is tremendous opportunity for growth if you enter global markets, although local markets may seem more comfortable. However, alongside the expansion opportunities come numerous challenges which vary according to geographic location, different types of payment formats, the involved parties, and other factors. 

Leading Cross-border Payment Challenges

Let’s address a few of the key cross-border challenges you may face when going global:

High transaction costs and third-party fees

Your local payment infrastructures are probably unsuitable for international payments and may increase transaction costs and third-party fees. Before entering global markets, explore new acquiring options and innovative payment opportunities such as digital wallets and digital currencies in order to reduce and even eliminate third-party fees. A thorough analysis of innovative payment options is a vital step before going global.

Time delays in settling funds  

According to a British Payments Association survey, 41% of survey respondents stated that time delays in settling funds are a major challenge in cross-border payments. Rather than rely on traditional bank transfers that are both slow and expensive, turn to new payment service providers that offer an instant, cheaper alternative. Automate your payment processes to reduce errors and speed up the payment cycle. New technologies and fintech offerings can eliminate time delays and streamline payment processes.

International regulatory variations and local compliance

Before entering various new markets, you must become acquainted with local compliance complexities as well as international regulations. As this generally varies from site to site, such an undertaking can be both time-consuming and costly. Rather than hire expensive legal advice at each location, you can consult with global payment experts who will guide you through complex compliance requirements worldwide.  

Local competition and market entry barriers 

Competitive advantages for local businesses and national restrictions may constitute another barrier for you to overcome when trying to penetrate a new market. Reduce costs by linking up with local acquirers and independent payment providers, enabling you to offer competitive prices. Provide a variety of seamless local and global payment options to enhance the customer experience and develop loyalty. 

Currency fluctuations

Foreign exchange rate fluctuations can have a major impact on the value of cross-border payments, leading to cash flow uncertainty for businesses. Sudden changes in exchange rates can result in surprise gains or losses, which complicates financial planning and budgeting. Businesses can utilize hedging instruments such as forward contracts to control currency risks and protect themselves against exchange rate fluctuations. However, not all types of hedging products are suitable for all businesses. That is why it is advisable to consult with payments experts before entering global markets.

In summary

As you can see, cross-border payments may seem intimidating, but these difficulties can be overcome by conducting the right preparations and consulting with global payments experts when necessary. Note that the payments world is highly dynamic and innovative technologies are constantly popping up to ease your international journey. Be sure to keep your finger on the payments pulse, because new solutions are just around the corner.