The potential of blockchain and crypto in e-commerce
Basant Singh of ACI Worldwide shares how crypto and blockchain are revolutionizing payments for millions of digital currency owners.
As more consumers begin to see crypto as a currency for payments, rather than just an investment, new channels are opening up for merchants and governments. The release of our first issue of Report on Crypto Payments and Web 3.0 for Banks, Merchants and PSPsgave us the opportunity to learn more about the innovative potential of blockchain technology to build new payment rails.
Basant agrees that crypto has grown to be more than just an investment and will soon be accepted as a mainstream payment method. He also emphasizes the blockchain’s role in bridging the gap between the e-commerce space with merchants’ needs for payment processing and authorities in helping the population.
In the interview, Basant also highlighted the benefits of adopting crypto payments, such as eliminating the risk of fraud and chargebacks and eliminating the need to worry about exchange rates for cross-border payments. He also discussed Central Bank Digital Currencies (CBDCs) and how governments around the world are exploring their use. He noted that different regions have different adoption rates for digital currencies and that governments are now coming up with their digital currencies. Some examples include India, China, and the United States, which have signed an executive order but are not yet ready to launch a CBDC.
All in all, the report and video interview with Basant provides valuable insight into the innovative potential of blockchain and crypto in the e-commerce space. It maps relevant players in the field and includes an industry survey that aims to gauge the appetite and adoption rate of crypto payments for banks, merchants and PSPs. Don’t miss this opportunity to gain a deeper understanding of the potential of crypto and blockchain in the e-commerce industry.
About Basant Singh
Basant Singh is a highly experienced leader in the payments industry with more than 20 years of experience in payments, fintech and consulting services. He leads ACI Worldwide’s Merchant and Payments Intelligence solution portfolio, which includes a Payment Orchestration Platform to deliver e-commerce, omnichannel payments, merchant fraud and alternative payments. He has global merchant sourcing business experience spanning direct and indirect channels, financial institution alliances, customer segments and verticals.
About ACI Worldwide
ACI Worldwide delivers the software and solutions that drive the global economy. Our business-critical real-time payment solutions enable companies to process and manage digital payments, drive Omni-commerce payments, present and process bill payments, and manage fraud and risk.
