WIBMO: Simplifying Payment Processes With Advanced Mobile Payment Solutions
Madhusudhan Ramakrishanan, CEO
Digital Payments are becoming the norm today with changing consumer expectations and the emergence of new and advanced technologies such as connected homes, contactless bank cards, wearable devices and augmented reality, which are adding fuel to cashless transaction growth. Among the various modes of digital payments, mobile payment systems are being widely sought-after as they can simplify and speed up payment processes while also providing a means to better engage with customers, integrate loyalty programs and improve sales. Corroborating this fact is data provided by Allied Market Research(AMR), according to which, the mobile payments market is anticipated to grow at a CAGR of 33.8 percent and reach a market value of USD 4,574 billion by 2023. However, despite these advancements, mobile payment adoption isn’t always effortless and is hindered by challenges connected with security, network infrastructure concerns, inability of payment solutions to function across different devices and operating systems and slow user adoption. Acknowledging these challenges and endeavoring to address them, Cupertino, CA head quartered Wibmo steps forward with its advanced Mobile Payments solutions, to endow customers with a mobile-first experience.
Founded in 1999, Wibmo, better known for its hosted risk-based authentication and payment security services, has been providing a wide range of solutions to the financial services industry, from mobile payments and fraud and risk management to prepaid solutions and a host of
merchant services. Having created state-of-the art, secure, large-scale, one-step payment systems that are first of their kind in the APAC region, Wibmo provides operational capabilities to process millions of digital payment transactions, making the company one of the largest payment processors in the country. Focused on helping customers meet their business objectives, Wibmo services both large players in the finance industry as well as SMEs across the APAC region, helping them simplify, manage and secure their daily transactions.
"Wibmo strives to simplify every aspect of the payment process, right from installing the applications, registrations,and accepting payments to settling them by constantly engaging in dialogue with our merchants"
When it comes to simplifying mobile payment processes, Wibmo streamlines its products by releasing different variants to merchants across different regions and verticals to test adoption and user experience. The company also manages and secures the daily transactions of its merchants in association with its bank partners, to facilitate payments with multiple authentication layers, constant monitoring of transactions and bank grade security in applications.“Wibmo strives to simplify every aspect of the payment process, right from installing the applications, registrations, and accepting payments to settling them by constantly engaging in dialogue with our merchants,” explains Madhusudhan Ramakrishanan, CEO, Wibmo. Moreover, the solution’s ability to process over a billion transactions results in huge and varied data sets which helps the company build faster iterating models. Another one of the company’s specialties is its Fraud behavior modeling and analytics capabilities with risk metrics from continuous data analysis, to help customers stay ahead of hackers.
Expanding Globally
Having optimized payment processes for a large number of clients in the APAC region, Wibmo has carved a niche for itself in the Digital Payments domain. With a significant footprint in APAC, Wibmo intends to grow its presence globally, while maintaining a strong presence in the region.
"Wibmo strives to simplify every aspect of the payment process, right from installing the applications, registrations,and accepting payments to settling them by constantly engaging in dialogue with our merchants"
When it comes to simplifying mobile payment processes, Wibmo streamlines its products by releasing different variants to merchants across different regions and verticals to test adoption and user experience. The company also manages and secures the daily transactions of its merchants in association with its bank partners, to facilitate payments with multiple authentication layers, constant monitoring of transactions and bank grade security in applications.“Wibmo strives to simplify every aspect of the payment process, right from installing the applications, registrations, and accepting payments to settling them by constantly engaging in dialogue with our merchants,” explains Madhusudhan Ramakrishanan, CEO, Wibmo. Moreover, the solution’s ability to process over a billion transactions results in huge and varied data sets which helps the company build faster iterating models. Another one of the company’s specialties is its Fraud behavior modeling and analytics capabilities with risk metrics from continuous data analysis, to help customers stay ahead of hackers.
Expanding Globally
Having optimized payment processes for a large number of clients in the APAC region, Wibmo has carved a niche for itself in the Digital Payments domain. With a significant footprint in APAC, Wibmo intends to grow its presence globally, while maintaining a strong presence in the region.
