The increased use of the Internet as a data transport layer in business applications has meant signficant changes in business processes like ordering, payment, collections, delivery and accounting.
There is a wide range of technologies which can be integrated into everyday business systems, such as real time online credit card clearance, 3D Secure authentication, scheduled recurring payments, web catalogues and shopping carts, and card payments through mobile devices. New technologies spread further every month, and financial institutions compliance requirements become more rigorous.
The result is an increase in speed, reliability and security of payment transactions - and it is also a minefield of competing promises, requirements and technology. Whether we like it or not, some of these will affect our business in some way, often when our business partners such as suppliers or financial institutions mandate new security or interface requirements.
Despite this, the new ways of doing payments are often less expensive, more secure, and faster than the old. The trick is to know what choices to make.