Category: payments

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Tech Stack for Payments

Your business is growing and you are considering expanding your offering to new verticals. The next phase, if you haven’t done it already, is to add payments and ‘quilty-of-life’ tools to help your teams. A good start tech stack for a business which is growing and adding new products is in the diagram. This is the time to also rigorously review your whole tech stack and start taking things out. Carve out 2 weeks every quarter to spend on the tech stack to stay on top of it in terms of cost, usefulness and to ensure you are using tools fit for purpose. Your business has evolved and what worked during the first 6 months might not work now.

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The seven deadly paradoxes of cryptoassets

On one hand cryptoassets are losing value but there are still fat margins to be made by providing trading infrastructure (eg exchanges) for people looking for a bit of fun.

The author of this article is taking a longer term view about crypto: Will people in 2030 buy goods, get mortgages or hold their pension pots in bitcoin, ethereum or ripple rather than central bank issued currencies? I doubt it.  Existing private cryptocurrencies do not seriously threaten traditional monies because they are afflicted by multiple internal contradictions. They are hard to scale, are expensive to store, cumbersome to maintain, tricky for holders to liquidate, almost worthless in theory, and boxed in by their anonymity. And if newer cryptocurrencies ever emerge to solve these problems, that’s additional downside news for the value of existing ones.

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4B

Full stack payments providers offer fast set up and easy tech integration. However once the volumes increase the business will be subject to an underwriting process with an uncertain outcome causing possible disruptions to the service. Ensure that payment providers understand your business up front by using Resellers or Merchants to pitch your case to the selected few PSP saving you time. Either way having coverage of the local payment methods is a must.