The proliferation of cloud and mobile tech has brought with it an unrivalled era of technological progress.One area where the emergence of new and disruptive tech has been felt particularly keenly is the world of payment solutions.The growth of online shopping (e-commerce) and the increasing trend for people paying for things on mobile devices (m-commerce) means the choice of payment options has never been bigger.With innovation thriving in this sector, 2017 looks set to be another exciting year for payment solution providers.Here are three new and disruptive payment technologies that we expect to see a lot more of in the coming year… We’re being a little speculative here as cryptocurrencies still have an extremely long way to go before they become anything like mainstream.However, it’s impossible to deny the strong fundamentals associated with cryptocurrencies, like the infamous Bitcoin.The technology behind Bitcoin is actually very sound, creating opportunities for low-cost, anonymous money transfer, along with a public transaction record and simple cross-border payments.

At the moment, cryptocurrencies are seen as the preserve of cybercriminals and money launderers, but in 2017 we predict all that will change.Bitcoin enthusiasts have already started setting up a number of payment and exchange systems, such as a Bitcoin debit card, to make this payment system more credible and better suited to everyday life.Web chat and SMS payments offer similar advantages, in that they are voiceless, faceless, convenient and extremely easy to make.This can be particularly appealing for merchants looking to take orders during busy sales periods or in transactions where customers might prefer not to speak.An SMS thread can also be more convenient for the customer as they can come back to it at their leisure, avoiding the perceived time constraints of a web chat window.We expect to see a lot more of both of these payment methods in 2017, with payment providers working hard to make it safe and easy for consumers to transfer money this way.SMS and web chat payments can be taken via secure links to a card payment gateway, and you’ll be pleased to hear PCI Pal provides a fully PCI DSS compliant solution for both of these channels.

More and more FinTech startups, and even established social platforms like Facebook and SnapChat, are starting to pave the way for peer-to-peer payments, making this a space to watch.Peer-to-peer payment systems are linked to a bank account, debit card or credit card.When a payment is sent the money is withdrawn and held securely until a peer comes along and claims the transaction.The money then moves to their account.This helps to reduce the cost of the payment and the time it takes to complete a transaction.At the moment, the majority of potential users appear to have trust issues with the overall security of peer-to-peer payments, so this is a perception the likes of Square Cash and PayPal will work hard to overcome in 2017.Adherence to PCI DSS requirements should help mitigate consumer concerns.With disruptive technologies challenging traditional payment models, merchants will increasingly need to provide customers with modern, secure and compliant omnichannel payment systems in the year ahead.

To find out more about our flexible suite of secure contact centre payment solutions, please get in touch with our expert consultants today.Starting today, PayFast sellers can start accepting Bitcoin payments from local and international buyers.ethereum crisisNote that Bitcoin payments are currently in beta testing mode.PayFast entered into an exciting partnership with South Africa’s biggest Bitcoin exchange, Luno (previously known as BitX), which will allow buyers to make Bitcoin payments to PayFast sellers.What makes this different from most Bitcoin platforms/transactions, is that while buyers will make a Bitcoin payment, sellers will receive South African rand in their PayFast accounts (and then, bank accounts).Simply put, Bitcoin is an innovative digital payment method, performed over the peer-to-peer Bitcoin network.For a more thorough explanation, you can read this.Bitcoin can be obtained in one of three ways:The bitcoin is then stored in a Bitcoin wallet.bitcoin miner botnet download

Bitcoin wallets don’t cost anything and can be opened up by anyone, usually in under a minute.There is a predictable amount of bitcoin in circulation and a limited amount is released over time.Newly released bitcoins are retrieved and Bitcoin transactions are confirmed by computers all over the world, in processes known as “mining”.Since it takes a certain amount of know-how, operating power and electricity, mining is generally the most complicated way for the average person to get Bitcoin.There are Bitcoin exchanges in countries all over the world.bitcoin 6 gpu motherboardLuno (previously known as BitX) is South Africa’s biggest Bitcoin exchange and anybody with a verified Luno account can purchase Bitcoin, simply by making an EFT to their account and buying it at the latest rate of exchange.Anybody who has Bitcoin in a Bitcoin wallet can send it to anybody else –anywhere in the world— provided that the recipient also has a Bitcoin wallet.There are numerous advantages to accepting and using Bitcoin:It’s often mentioned that the Bitcoin rate of exchange is very volatile.litecoin mining security

It’s all rather logical, since it is determined by the market, which collectively “decides” what the value of it should be.This is very much the same way that the market collectively and continuously decides what the price of other resources, like platinum or gold or currencies, should be.Herein lies the biggest problem for sellers: volatility.crear cuenta bitcoin gratisIf a seller listed a product on their website for 1 BTC (at an exchange rate of R6900) and someone purchased that item at a later date, when the rate of exchange is lower (say R6000), they would ultimately lose out on the transaction (or have some explaining to do to their accountant).Sure, the seller would have 1 BTC in their possession, but that single bitcoin might be worth less than what the product originally cost.In short: sellers don’t receive Bitcoin, so regardless of the BTC/ZAR exchange rate, they will receive the South African rand amount for their payments.PayFast sellers will still display their products and services in South African rand, as they always have.When a buyer visits a PayFast seller’s site and clicks to buy an item, they will be shown Bitcoin as  a payment method (in addition to the other enabled payment methods).The buyer is shown the BTC amount –at the current rate of exchange as provided by Luno (previoulsy known as BitX) — and a Bitcoin address where they should send the funds.After sending the funds (using whichever Bitcoin wallet they want to: mobile, desktop or cloud), they click on a verification button on the PayFast engine.Luno (previoulsy known as BitX) sends confirmation to PayFast that the funds have been received.The buyer sees a success message and gets redirected back to the seller’s website.bitcoin lending rates