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The Impact of AI on the Payments Industry in 2021

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With the launch of VisaNet AI, we are seeing Visa in this particular case take matters into their own hands and develop products and services that are targeted at improving the services provided by their own clients, who are not able to keep up with the pace of technological advancement. For a long time we have known that data is the new oil, and that companies who wish to stay competitive in today's landscape, need to take aggressive steps into ensuring that their strategy, infrastructure and processes are data-driven. However, within the Payments industry we know that a lot of companies are still struggling to do so. VisaNet AI, which is a set of network services that helps deliver smarter authorization, clearing, and settlement for banks, merchants and consumers, is a great example of how companies should work on improving their core services. For years, we have worked with issuers, acquirers and merchants to drive through that the performance of their authorization is at the core of what payments should be.


Start your business with robots

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The RPA stands for "Robotic Process Automation." It supports several manual and repetitive tasks to automate like human beings. We can say that "RPA is a process of creation and training of software bot (automated programs) to automate the business process." "The RPA is the technology which allows anyone to configure the computer software or robot for emulating and integrating the actions of humans to interact within the digital systems to implement or execute the business process." RPA is the digital workforce. It interacts with the computer system in the same as the human does. It automates repetitive and tedious tasks. Robotic Process Automation is the sequence of commands which are executed by the automated programs under some defined sets of business rules. The primary purpose of RPA is to replace repetitive and boring clerical tasks into the virtual workforce by robots or machines. We train the bots (automated programs) what to do and let them do the work. The RPA is an acronym for Robotic Process Automation. The Robotic Process automation is used in both IT and Non-IT industries. Nowadays, every organization have a repetitive, boring, tedious task so, RPA is necessary to eliminate these types of task by making the automation of tasks.