@Article{crph1290,
AUTHOR = {Burugulla, Jai Kiran Reddy},
TITLE = {Cloud Based Payment Processing and Merchant Services: A Scalable and Secure Framework for Digital Transactions in a Globalized Economy},
JOURNAL = {Current Research in Public Health},
VOLUME = {3},
YEAR = {2023},
NUMBER = {1},
PAGES = {32-45},
URL = {https://www.scipublications.com/journal/index.php/UJFE/article/view/1290},
ISSN = {2831-5162},
DOI = {10.31586/ujfe.2023.1290},
ABSTRACT = {In today’s world of a globalized economy and ubiquitous digital transactions, businesses are hungry for ways to increase transaction efficiency and security. In the real economy, solutions that scale to fit transaction volume or velocity are equally valuable. This is true for clearing and settlement and for the day-to-day needs of buyers and sellers alike. Clever observers of both cash and digital transactions can spot cases where technology that supports transaction security or safety can strengthen consumer-borrower ties, mitigate default risks, and reduce recidivism. In general, a cloud solution for payment processing and merchant services solves two major barriers to optimum business technology: lack of scalability and lack of security [1]. The extension of current practice has its advantages, but new solutions unlock significant opportunities for both consumers and financial institutions [2]. The focus of this work is on the provisioning of cloud-based payment processing and merchant services to financial institutions and established global organizations, although the options available with these services mean they are potentially applicable to a wide range of group entities, including non-trading organizations, pension administrators, and group treasurers. With the increased attention to cybersecurity, a mass of data is available to assist the IT departments of the major payment processors, merchants, and acquirers to get cybersecurity on the radar of C-level executives [3]. The case is put forward for the increased targeting of and reporting to the Board’s Audit, Risk, and Liability Committees of publicly held payment processors and merchants to reduce fraud losses and mitigate the reputation and class action lawsuit risk due to data breaches. The progress of technology in the payment sector requires all stakeholders to have a collective approach in order to mitigate fraud and cybersecurity-related risks in new products and services to enhance consumer confidence and the proportion of retail cashless transactions [4].},
}

%0 Journal Article
%A Burugulla, Jai Kiran Reddy
%D 2023
%J Current Research in Public Health

%@ 2831-5162
%V 3
%N 1
%P 32-45

%T Cloud Based Payment Processing and Merchant Services: A Scalable and Secure Framework for Digital Transactions in a Globalized Economy
%M doi:10.31586/ujfe.2023.1290
%U https://www.scipublications.com/journal/index.php/UJFE/article/view/1290

TY  - JOUR
AU  - Burugulla, Jai Kiran Reddy
TI  - Cloud Based Payment Processing and Merchant Services: A Scalable and Secure Framework for Digital Transactions in a Globalized Economy
T2  - Current Research in Public Health
PY  - 2023
VL  - 3
IS  - 1
SN  - 2831-5162
SP  - 32
EP  - 45
UR  - https://www.scipublications.com/journal/index.php/UJFE/article/view/1290
AB  - In today’s world of a globalized economy and ubiquitous digital transactions, businesses are hungry for ways to increase transaction efficiency and security. In the real economy, solutions that scale to fit transaction volume or velocity are equally valuable. This is true for clearing and settlement and for the day-to-day needs of buyers and sellers alike. Clever observers of both cash and digital transactions can spot cases where technology that supports transaction security or safety can strengthen consumer-borrower ties, mitigate default risks, and reduce recidivism. In general, a cloud solution for payment processing and merchant services solves two major barriers to optimum business technology: lack of scalability and lack of security [1]. The extension of current practice has its advantages, but new solutions unlock significant opportunities for both consumers and financial institutions [2]. The focus of this work is on the provisioning of cloud-based payment processing and merchant services to financial institutions and established global organizations, although the options available with these services mean they are potentially applicable to a wide range of group entities, including non-trading organizations, pension administrators, and group treasurers. With the increased attention to cybersecurity, a mass of data is available to assist the IT departments of the major payment processors, merchants, and acquirers to get cybersecurity on the radar of C-level executives [3]. The case is put forward for the increased targeting of and reporting to the Board’s Audit, Risk, and Liability Committees of publicly held payment processors and merchants to reduce fraud losses and mitigate the reputation and class action lawsuit risk due to data breaches. The progress of technology in the payment sector requires all stakeholders to have a collective approach in order to mitigate fraud and cybersecurity-related risks in new products and services to enhance consumer confidence and the proportion of retail cashless transactions [4].
DO  - Cloud Based Payment Processing and Merchant Services: A Scalable and Secure Framework for Digital Transactions in a Globalized Economy
TI  - 10.31586/ujfe.2023.1290
ER  -