In this episode of our tech podcast, Padraig Coffey, CEO at Zartis and podcast host, is joined by Colm Lyon, founder of Fire and Realex Payments, as they explore the history of online payments.
Note: The ‘History of Software’ podcast has been rebranded to The Story of Software. The focus remains on exploring technology from an evolutionary perspective of trying to understand how what we know today came to be. We will continue to explore topics from the early dawn of software technology to the state-of-the-art today and what is envisioned to come next.
Online Payments Episode Overview:
In 1871, Western Union authorized the ability to send money via wire transfer, which marked the dawn of fintech and technology-driven payments. And yet, the defining moments of the evolution of online payments will follow towards the end of the 20th and beginning of the 21st century. As with many aspects of life as we know it today, the internet played a key role in shaping the demand and the technology at the base of it. From the way we interact with banks to the emergence and growth of e-commerce – the last few decades marked an increased need for payment technology that enables the changing economy.
What were and what are the technological challenges of building online payments technology? How has the sector evolved in the past decades, as the demand has increased exponentially? Is open banking the future? And what is the opportunity for the up and coming entrepreneurs in the sector? Tune in to hear Colm share his insights.
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