Digital Payments Control – A report from Kapronasia in collaboration with SmartStream

There has been an exponential increase in contactless and online payments, driven by new technology which is leading to growing risks around the handling of the sheer number of disputes and reconciliation with credit card schemes.

Cashless transactions, of which there were already 1,035 billion worldwide in 2020, are projected to increase nearly triple by 2030, with Asia-Pacific growing the fastest. Meanwhile, increased costs from chargebacks, increased risk of erroneous charges and increased challenges with ISO 20022 implementation all call for more attention from payment services participants.  

In the Digital Payments Control report from Kapronasia and SmartStream, we look at the challenges around increased digital payment volumes and lessons for parties across the value chain. The paper also looks at the best practice processes, and shows how players can improve to take the market lead.