Payments processing pitfalls to avoid when going cloud-first

Stability has long since been treasured in finance but now we see disruption everywhere. Regulation, fast-moving technology and customer demands are driving a bow wave of change and payments processing, alongside all financial services, is onboard. Real-time, convenience and seamless are the watchwords of the day.

Accordingly, we see cloud adoption accelerating, especially among financial technology (fintech) providers and modern payment service providers (PSPs), who use it to scale and develop and support new products and services.

All types of payments get processed in the cloud: bank-based instant, automated clearing house (ACH) and cross-border, card payments, mobile wallets, peer to peer and cryptocurrency. Cloud-native payment orchestration systems support real-time payments, which are growing at a compound annual growth rate of over 35%.