6 | | NOVEMBER - 2023Payment security providers constantly adapt cutting-edge technologies to provide customers with a safe and seamless payment experience. Consumers and businesses increasingly seek innovative tools to detect and prevent fraud as digital payments and e-commerce grow. The payments sector responds to the need of consumers to access merchandise, services, and funds seamlessly by introducing more flexible payment models and opening more payment channels. Using biometric technology and real-time payments for fraud detection has become widely accepted by merchants. The global payment security market is expected to reach $64.34 bn by 2030, increasing at a CAGR of 13.9 percent between 2023 and 2030. Fraudulent activities have increased recently, contributing to the market's growth. Developing AI-powered fraud detection and prevention systems will help identify and prevent payment-related fraud activities in real-time. It is essential to collect data about payments to identify trends and patterns and develop actionable insights that will aid businesses in making decisions in the future. This edition of the CIOReview APAC brings forth the most significant developments in payments and how businesses can operate in real-time, which can increase revenue and improve their return on investment. It features a thought leadership article from Eric Bonnell, SVP of Risk Management at Atlantic Union Bank, who discusses effective fraud detection and expediting valid transactions requires combining technology and human inspection. It also features a thought leadership article from Garnett Volk, Vice President of Credit Risk at Conexus Credit Union, who shed light on the importance of partnering with like-minded third parties to develop the infrastructure to provide a quality experience for members. In this edition of CIOReview APAC, we also bring you the story of some of the most promising payment solution providers to remain competitive and ensure it's user-friendly, efficient, and in line with consumer expectations. One of them is Smartpay, which has built a complete ecosystem for the first time in Japan to realize a digital one-click financial solution. As a fintech company, it has acquired a license that allows direct payments from bank accounts. It offers system solutions and business growth focused on reducing cart abandonment and increasing revenue. In this edition featuring the top payment solution providers in APAC 2023, we hope you find the right partner for your business requirements. Let us know your thoughts!EditorialUnlocking the Potential of Innovative Payment Options Copyright © 2023 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.Email:sales@cioreviewapac.comeditor@cioreviewapac.commarketing@cioreviewapac.com NOVEMBER - 21 - 2023 , Vol 12, Issue - 78 (ISSN 2644-237X) Published by ValleyMedia, Inc.To subscribe to CIOReview ApacVisit www.cioreviewapac.com Editorial StaffAaron PierceCarolynn WaltersShirley FaithRussell ThomasVisualizers*Some of the Insights are based on our interviews with CIOs and CXOsPaul John Managing Editoreditor@cioreviewapac.comManaging EditorPaul JohnDane Stanley Gilbert Hoover Wilfred Lawson Joshuva LawrenceRobert Jackman
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