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SmartCard Marketing Systems Inc. (OTCQB:SMKG) Baas Is the New Fintech Trend Leading The Shift In The Payments Landscape
SmartCard Marketing Systems Inc. (OTCQB:SMKG) Baas Is the New Fintech Trend Leading The Shift In The Payments Landscape.
About this update from Smart Card Marketing Systems, Inc.
[{"type":"text","content":"SmartCard Marketing Systems Inc (OTCQB: SMKG) is an industry leader in specialized industry e-Commerce, Cloud and Mobility applications delivering White-Label solutions to the global PayTech and FinTech markets. The company, providing Business Intelligence, Ai and Digital Transformation Strategies with a proprietary portfolio of applications and wireframes for Banking, Enterprises, Iot and Retail e-Wallets/m-Wallets offering Blockchain Protocols, Crypto Issuing, NFT Minting, Digital Assets Tokenization, Chatbot Ai, Digital ID-e-KYC/e-KYB, Events Management and Task Automation Strategies with “License to Own” marketplace applications.The CEO Massimo Barone shared the follownig commentary on Baas and Payments:Traditional Banks no more - first it is important to classify what is the role of the traditional Bank or Credit Union and for which Country market - then consider over the past 2 to 3 decades the roles of Non-Bank Financial service Shops (Cheque Cashers / PayDay Loans / Pawn Shops) and so much more.Step 2) - then take on the role of Bank Issuers vs Prepaid Card Program Issuers or well Branded Independent Enterprise offerings and you can see how the market was already fractional. Now expand and think Card Schemes that want to jump infront of the line (MC, VISA, CUP) etc..Step 3) E-commerce to Blockchain with ecosystems, social networks to now Metaverses and Decentralized Networks - FI's have their challenges ahead to adapt or simply be Back-Offices and Lend out to the best promoters out there. Its strategic not defensive.The Baas is the new way to streamline customers and if rolled out correctly - the Bank/CU can play an intermediary role in everything payments. Now this opens a different challenge because of the broad network of Wallets & Cross-border players with integrated products.So where does Tomorrow's Bank fit today?At SMKG, it is what we do by offering Commerce Strategies with our white-label solutions - from Back-end, Middleware to Client Facing applications and marketplaces.Industry Related News:Traditional Banks Risk Losing Ground to Banking-as-a-Service RivalsDigital banking has become the default means of financial interaction for countless consumers worldwide, with the ongoing pandemic supercharging a shift that was years in the making. PYMNTS research found that nearly three-quarters of consumers have...