NCR APTRA Clear Brochure

Every country has some form of unique payment processing system based on its own financial practices, preferences and legislative requirements. As these countries modernise their banking systems to improve or reinforce their overall financial status globally, there is an increasing need for payment services that not only conform to international standards and infrastructures but also provide faster clearing cycles, all while balancing efficiency, cost and risk.

A modern, efficient payment processing system is critical to the overall performance of a country’s economy and its ability to compete in global markets. Such a payment system can provide governments and Central Banks with the data they need to guide monetary and fiscal policy, allow for equitable sharing of risk between parties, and promote stability in the financial system. It can also promote efficient use of the available money supply and create confidence in the economy abroad, providing a more favourable climate for international trade and investment.

A financial infrastructure must have interoperability across its entire ecosystem, while providing security, fraud and risk management systems. Legacy payment systems are rigid, brittle and silo’d—not adept and flexible to scale for new payment types and services, manage new and converging payment channels, or handle the growth of alternative payments as they evolve.

Moreover, they are overwrought with manual processes and depend heavily on human interactions. Consumers and businesses are quickly adopting diverse payment forms—ranging from cash, cheques and money orders to debit cards, credit cards and person-to-person (P2P) payments. In addition, with the introduction of new technologies, such as smartphones, expanded payment options are changing customer traditional payment preferences. Electronic payments (ePayments) and Mobile payments (mPayments) are shifting and evolving the traditional payment usage patterns, mix and volumes that challenge financial institutions.

Innovation and competition are transforming the payments landscape into a more complex, expansive and interconnected world. Businesses that increasingly compete in the international marketplace want more efficient electronic payment options that make funds available in minutes or hours, not days or weeks. They want direct access to systems that let them initiate payment instructions electronically and electronic data interchange systems that let them achieve final settlement in real-time in order to reduce payment losses. Businesses also demand cross-border systems that provide competitive currency conversion options and expanded time windows for same-day payments.