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Event season is in full swing for the Red Hat Financial services team, and this time, we are headed to the bright lights of Las Vegas to attend Money 20/20 USA, being held from October 27 - 30th. Red Hat will be attending to sponsor a number of activities and discuss the important role open source technologies play in the future of payments, money and banking activities.
What is the role of Open Source Technologies in payments processing?
Faster, more innovative payments processing is not just being driven by the consumer. Merchants are also looking for the convenience of faster payments. In fact, according to Juniper Research, contactless in-store payments are expected to total to $2 trillion globally by 2020, meaning that now is the time for payment service providers and banks to get technologically ready for this shift.
This shift means that payment processing—which once took hours and even weeks to complete—is expected to occur in just seconds. This requires operational payment systems modernization, including the other systems, like fraud engines, to keep up with real-time payments settlement. All the while, working within regulatory and compliance requirements to protect and secure transactions economically.
Red Hat open source technologies can provide a foundation for payments platforms—to help simplify and modernize payment data processing. Using automating streaming inputs and outputs, real-time payments processing capabilities include decisioning for exception handling and can integrate with the latest fraud detection techniques from open source communities. Red Hat provides the raw materials that can be used to implement fraud detection, as well as the expertise needed to introduce it. We would be more than happy to go into even more detail on how this works and the benefits of open source technologies, just visit us at Booth 3826.
Our Red Hat financial service experts will be there and look forward to having a conversation with you.
Ready to connect with Red Hat at Money 20/20 Las Vegas?
Red Hat experts will be at our booth, 3826, please feel free to come by, say hello, ask any questions you may have about Red Hat and of course, pick up some swag. We hope to see you there!