We are several months further into the COVID-19 pandemic and diseases & deaths are still on the rise in many parts of the world. More than thirty-three million incidents and about one million premature deaths have now been reported. As the pandemic is entering a brand new phase of an outbreak with a new form of mutation, Nuspay being the World’s First Virtual Account Payment system takes drastic actions to mitigate risks and lowering transmissions, without sacrificing on the economic front.
Precarious State of the Contemporary Digital Payment Solutions
The pandemic had an impact on every sector. This includes the manufacturing sector starting with its auto, retail, and aviation counterparts. The aviation industry was struck the hardest wall when it comes to the challenges of the epidemic. With reduced trips and excursions, the aviation industry is especially suffering from a great loss. Besides the aviation industry, several B2B and B2C industries like hospitality, tourism, entertainment & restaurants are suffering consequently. These are all happening due to the temporary shutdown of the borders, resulting in the restricted movement of goods. The free flow of international remittance is also hindered due to the aforementioned difficulties. However, there are upticks in a certain area, which is the digital payment system. The contemporary digital payment solutions are facing intimidations with their sluggish gateways. Nuspay is trying to eradicate the current problems of the contemporary digital payment solutions with its version of a virtual payment system throughout the covid 19 pandemic situation to set the new normal.
What is Virtual Account Payment System
The concept of a virtual account payment system is not new, it is specially designed to deliver worry-free financial transactions with some security addendum. While payment on a third-party website, Virtual Account replaces sensitive personal data with a temporary payment token. This encrypted token gets generated for each transaction and helps to protect all sensitive information from tampering or hacking. Nuspay has introduced this virtual account payment system to evolve the security of customer’s card information for virtual transactions over third party stores and websites to bring an efficient solution for digital payment.
Uncompromised Security & Speed with Virtual Account Payment System
As we are reaching a modern standard, customer service reigns supreme in all aspects! The position of customer support and the personnel who provide this service are critical in an age where consumers expect high-speed transactions and Nuspay’s virtual account payment system is ensuring that. For breakneck day-to-day transactions, Nuspay holds its client services in a pivotal state. The first line of defensive and ultimately the crucial early warning device are the client support frontlines.
As a result of the epidemic, the consumer’s payment behavior is greatly shifting, says several studies. Almost fifty percent of the global shoppers are willing to shift to digital purchases over the norm, and most intend to keep using digital payment services even after the epidemic has been suppressed. The safest form of payment is Nuspay’s virtual account payment system, with its virtual wallet. When customers use less cash and make more internet transactions, it reduces the risk of transmission by a great deal. One in three respondents considered that contactless transactions are a cleaner form of payment in an international survey.
Substantial Adoption of Virtual Account Payment System Worldwide
Nuspay provides a closed-loop shadow account through its virtual account payment gateway with a versatile hierarchy for a single physical account. These digital account solutions can be internally managed to enable automatic bill reconciliation and integrated cash management solutions. These features are reducing manual labor by a lot, resulting in fewer covid transmissions. Nuspay’s ethical duties not only end with its clients, as Nuspay has implemented additional AI features over this brief period, but they were also able to let the workers work from home.
Most brick and mortar institutions have already transitioned to an online platform and Nuspay is lending a helping hand to all these entities. Nuspay is providing an all in all solution for both the supplier and the ultimate user’s end.
It is understandable that adopting new technology in this pandemic is hard and people and institutions are still reluctant to embrace the virtual payment system and are scared of the intricacies of the gateways. Nuspay eradicates all the intricacies and provides a very secured transaction to client bases, leading to a safe and secure financial settlement environment to set the new normal to the post-pandemic situation.
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