Blockchain
FlightHub and JustFly on Electronic Payments, Convenience, Safety and Travel
The travel industry is currently experiencing a technological renaissance. Artificial intelligence (AI), the internet of things (IoT), virtual reality (VR), augmented reality (AR), facial recognition software and electronic payments are reshaping the way the world travels. It may be the most innovative time in the history of travel.
In decades past, cash, credit and debit cards have been the default means for people around the world to make purchases. However, in recent years, alternative payment methods have been gaining in popularity. To stay ahead of the technology curve and provide customers with safe, easy and fast payment options, companies have turned to a variety of online payment types.
FlightHub and JustFly elaborate on how electronic payments benefit travelers and business alike below.
Defining Electronic Payments:
Simply put, electronic payments are all payments that don’t involve physical currency. In technical terms, credit and debit cards are also considered electronic payments. Although both card types remain in use, there’s been a notable increase in payments that require no tangible card at all.
See a short list of other electronic payment types below:
- Automated Clearing house (ACH)
- Wire Transfers
- Item Processing (IP)
- Remote Deposit Capture (RDC)
- FedLine Access Solutions
- Automated Teller Machines
- Card Services (ATM, credit, debit, prepaid)
- Mobile Payments
Statistics on Electronic Payments:
Technology adoption is typically segmented into 5 categories: innovators, early adopters, early majority, late majority and laggards. Some businesses and countries are keen on innovating their own payment technology. Many others will be early adopters. Statistical analysis of electronic payment trends provides a clearer look at consumer behavior and the businesses leading the charge.
- In 2016, 62% of online transactions in China were paid via e-wallet. (Worldpay)
- With 60.18% of market share, PayPal is the leading online payment gateway. (Finances Online)
- By 2022, 28% of US consumers will pay for goods by e-wallet. (Finances Online)
- 78% of global consumers buy goods on Amazon. (Finances Online)
- 69% of Generation Z use mobile banking apps daily or weekly. (Accenture)
- 52.5% of American smartphone users will have made one or more P2P transactions (eMarketer)
In 2017, Worldpay, a leading payment technology report made a series of projections. The trends were evident. By 2021, credit card use would decline as e-payments increase. While bank transfer use would remain nearly the same, debit card usage would decrease. Reports from several other reputable sources indicate similar trends.
Safety:
Consumers and merchants have collectively voiced concerns about the safety of electronic payments, specifically privacy and the potential for identity theft. However, businesses have taken precautions to prevent their customers’ financial information from being compromised. New ways of keeping personal information secure are continuously being developed.
FlightHub and JustFly provide a list of technologies currently being used to protect payment details below:
- Facial recognition software
- Fingerprint technology
- Two-factor authentication
- Virus protection applications
- Firewalls
- Blockchain technology
- Secured servers
In addition, companies do their part by using sophisticated data encryption tools to further secure sensitive data. With these measures in place, e-payments may actually be safer than their more traditional predecessors.
Electronic Payments and Travel:
The notion of “frictionless payments” has been discussed throughout the travel industry for some time. What exactly are frictionless payments? They’re online and offline checkout procedures where very little gets in the way of making a purchase.
Previously, travel businesses had not been able to deliver at a level that was satisfactory. Travelers now have a glossary of electronic payment options. See the most popular options below:
- PayPal
- MobilePay
- Apple Pay
- Samsung Pay
- Google Wallet
There are currently more than 300 ways for travelers worldwide to make travel-related payments. The most commonly stated reasons for switching to e-payments are convenience and lower risk of having information stolen. Research firms have provided statistics to further confirm what experts in the payment technology industry have projected for years—electronic payments are not only the future of financial transactions, they’ll be a major factor in how we live, spend and travel as well.
SOURCE FlightHub
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Blockchain
UNICC and ShelterZoom Developed a Secure Document Tracking and E-Signature Solution for the UN System
The United Nations International Computing Center (UNICC) and ShelterZoom are pleased to announce a new innovative blockchain-based solution for controlling and protecting the digital data of UN entities and other international organizations. As the largest strategic partner for digital solutions and cybersecurity within the UN system, UNICC has partnered with ShelterZoom, a leading data and content protection and ownership SaaS company behind innovations such as Document Token® technology and Document GPS®.
Building upon the 50 years of experienced innovation from the UNICC, the two organizations collaborated on a transformational undertaking offering robust protection and promising increased productivity for document tracking and management. ShelterZoom will contribute its proprietary document tokenization technology, along with its data protection, document tracking and e-signature solutions to deliver a white-labeled platform, giving member organizations a greater level of governance over their content. Using ShelterZoom’s flagship proprietary Single Source Of Truth® technology, the solution provides a means for each file to be protected individually without changing user normal habits instead of having to rely solely on protecting files at the database level. This ‘singularity and control’ is a new era in cybersecurity and document management, which has never been seen before at this level of seamless integration with existing tools.
“The synergy between what we deliver and the goals of the United Nations are a perfect match for Single Source Of Truth,” said Chao Cheng-Shorland, CEO and Cofounder of ShelterZoom. “We have said from the beginning that it is time to think about cybersecurity in a completely new way and in doing so we have created a solution to address other operational pain points while simultaneously solving one of the biggest challenges facing the global population today. The UN is at the frontlines of changing the world for the better and its forward-thinking approach to using technology to address fundamental issues is critical in improving livelihoods for all.”
ShelterZoom solutions have already been in use across dozens of industries and with this new commercial partnership, they can now extend their usefulness to the UN family and other international organizations. The revolutionary method for complete document tracking with built-in productivity tools, such as digital signatures and a market-first method for organizing files inside email, is an all-in-one solution built for a global workforce. The Single Source of Truth model has the added benefit of decreasing the carbon footprint created by excessive digital waste, further supporting the sustainability goals of the United Nations.
“The need for robust cybersecurity and data protection has never been greater,” said Sameer Chauhan, Director of UNICC. “By working together with ShelterZoom, we have developed a cutting-edge tool tailored to the needs of the UN family. Our unwavering commitment to providing best-in-class solutions ensures we continue to support the digital transformation and modernization of the UN system and other international organizations.”
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