Lipa Payments • May 23, 2023
Payments Glossary
Navigating the payments industry can be challenging due to all of the acronyms and technical jargon used.
To assist in your payments journey, we have compiled a list of these terms and their meanings, all in one convenient location for better understanding.
Download Lipa Payments Payment Glossary.
Download Payments Glossary
In the dynamic world of on-demand services, efficiency and cost-effectiveness are key factors that can make or break a business. The arrival of SoftPOS (Software Point of Sale) is a game-changer for solutions such as ridesharing apps, food delivery services, grocery delivery platforms and merchant on the go services. SoftPOS addresses various challenges faced in the Pay-on-Delivery and Pay-on-Arrival scenarios, making it a beneficial alternative to traditional payment acceptance methods.
We’re excited to share the latest enhancements across the Lipa Payments ecosystem, introducing innovative features and improvements to elevate your experience. Among these updates, we made significant enhancements to our user interface (UI), ensuring a more intuitive and visually appealing interaction with our platforms.
In 2024, we plan to unveil additional features and updates for our products, with ongoing updates to keep you informed. Excitingly, we've begun our PCI MPoC journey, aspiring to attain certification in the coming months.
In the evolving landscape of event management amid digital acceleration, contactless payments are taking centre stage. A study by Juniper Research projects global contactless payment transactions to surge from $4.6 trillion in 2022 to $10 trillion by 2027. This growth is fuelled by investments in the contactless payments ecosystem, particularly in contactless-enabled POS terminals and device-level support. As events prioritise efficiency and safety, the increasing importance of contactless payments is evident.
