Damien Dugauquier, iPiD’s co-founder and CEO, and Alain Raes, founding partner and chief commercial officer, discussed the transformation in the payment industry over the last decade and the company’s pioneering role in scaling global payment pre-validation to enable fast, safe, secure and compliant cross-border payment.Dugauquier observed two major shifts in the payment arena: the emergence of faster and more affordable transaction methods, both locally and internationally, driven by innovations in instant payment systems and fintech collaborations, and enhanced user experience in payments, marked by simplicity and increased security, thanks to new value-added services. 

He remarked: “Payments have become simpler, safer,” using Singapore’s PayNow as a point of reference.Raes emphasised the critical need for speed and security in modern payment processing. He contrasted the current transaction capabilities with the slower processes of the past, particularly in the early days of Swift. He said: “Now, most payment systems domestically and even cross-border are getting to either real-time or nearly real-time.”  He underscored the importance of integrating value-added services to maintain the integrity and safety of these rapidly evolving systems.Both underscored the importance of integrating the payment verification features of more advanced local payment systems into global cross-border transactions.